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Postgraduate MSc

Actuarial Science

Actuaries evaluate and manage financial risk. They make financial sense of the future for their clients by applying advanced mathematical and statistical techniques to solve complex financial problems.

Actuarial Science
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Overview

Studying actuarial science on this conversion programme is a passport to a wide variety of careers in insurance companies, investments, pensions, health care and banking – not just in the UK, but throughout the world.

Accreditation

Our MSc in Actuarial Science, MSc in Applied Actuarial Science and International Master’s are all fully accredited by the Institute and Faculty of Actuaries; they also provide a fast-track route to qualifying as an actuary, because students who achieve a high enough overall mark in these programmes can obtain exemptions from the professional examinations included within their studies.

As one of the few universities to offer actuarial science in the UK, Kent’s programme is recognised for its strong mix of theoretical and practical expertise. The teaching staff include many actuaries drawn from professional practice, along with specialised researchers.

Depending on the modules chosen, MSc in Actuarial Science students may be eligible to gain exemptions from subjects CB1, CB2, CM1, CM2, CS1 and CS2 of the Institute and Faculty of Actuaries

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If you are considering applying for the Actuarial Science MSc course you may wish to consider alternatively applying for the Applied Actuarial Science (International Master's) MSc course (2 years).

The International Master's offers an identical programme in Stage 1 to the Actuarial Science MSc course, with the additional flexibility of automatically being accepted for Stage 2 (subject to satisfactory assessment performance) which is equivalent to the Applied Actuarial Science MSc, without the need to re-apply for another one year visa. Students can opt-out of the two year course at the end of Stage 1 and receive the full MSc qualification under the Actuarial Science MSc course (subject to satisfactory assessment performance).

About the Centre for Actuarial Science, Risk and Investment

In 2010, the Centre for Actuarial Science, Risk and Investment (CASRI) was set up within the School of Mathematics, Statistics and Actuarial Science to reflect the widening scope of the teaching and research of the staff. Within CASRI, research in actuarial science can be broadly classified into the following three themes: economic capital and financial risk management, longevity risk modelling, and public policy aspects of insurance risk classification. This achieves a balance between theoretical and applied investigations, as well as addressing social policy implications. The group has a deep and long-standing association with the Institute and Faculty of Actuaries, as well as with other educational institutions worldwide.

Studying Applied Actuarial Science at the University of Kent

Portia, Lucius and Bahariah share what it is like to study Applied Actuarial Science at the University of Kent, Canterbury.

Your future

The UK Actuarial Profession

The UK Actuarial Profession is small, but influential and well rewarded. There are more than 6,500 actuaries currently employed in the UK, the majority of whom work in insurance companies and consultancy practices.

Survey results published by the Institute and Faculty of Actuaries suggest that the average basic salary for a student actuary is £36,842 with pay and bonuses increasingly sharply as you become more experienced. The average basic salary of a Chief Actuary is £209,292.

As an actuary, your work is extremely varied and can include: advising companies on the amount of funds to set aside for employee pension payments; designing new insurance policies and setting premium rates; pricing financial derivatives and working in fund management and quantitative investment research; advising life insurance companies on he distribution of surplus funds; and estimating the effects of possible major disasters, such as earthquakes or hurricanes, and setting premium rates for insurance against such disasters. For more information about the actuarial profession, see www.actuaries.org.uk

Employability support

Helping our students to develop strong employability skills is a key objective within the School and the University. We provide a wide range of services and support to equip you with transferable vocational skills that enable you to secure appropriate professional positions within industry. Within the School we run specialist seminars and provide advice on creating a strong CV, making job applications and successfully attending interviews and assessment centres.

Our graduates have gone on to successful careers in the actuarial, finance, insurance and risk sectors.

Professional recognition

Offers exemptions from subjects CT1 to CT8 of the Institute and Faculty of Actuaries professional examinations, with the option to take further subjects for exemption purposes.

Career support
Whether you want to get ahead in your current career, change lanes, or kickstart a new one – we are here to help you realise your ambition.

Fees and funding

The 2024/25 annual tuition fees for this course are:

Full-time

  • UK
  • International

For details of when and how to pay fees and charges, please see our Student Finance Guide.

For students continuing on this programme fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.* If you are uncertain about your fee status please contact information@kent.ac.uk.

Your fee status

The University will assess your fee status as part of the application process. If you are uncertain about your fee status you may wish to seek advice from UKCISA before applying.

For details of when and how to pay fees and charges, please see our Student Finance Guide.

For students continuing on this programme, fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.* 

Your fee status

The University will assess your fee status as part of the application process. If you are uncertain about your fee status you may wish to seek advice from UKCISA before applying.

General additional costs

Find out more about general additional costs that you may pay when studying at Kent. 

Search our scholarships finder for possible funding opportunities. You may find it helpful to look at both:

Scholarships

We have a range of subject-specific awards and scholarships for academic, sporting and musical achievement.

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Next steps

Ready to apply?

Learn more about the application process or begin your application by clicking on a link below.

You will be able to choose your preferred year of entry once you have started your application. You can also save and return to your application at any time.

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Join our community

Stay connected with our postgraduate community.

Kent focus

Supporting your success

We are here to support your postgraduate journey.

Top 50

Kent ranked top 50 in The Complete University Guide 2024.

Fees and funding

Support for funding so you can focus on your studies.

Research excellence

Kent has risen 11 places in THE’s REF 2021 ranking, confirming us as a leading research university.

Accommodation

It’s easy to study on or off campus at Kent – discover what is right for you.