MSc Actuarial Science  MSc Actuarial Science University of Manchester ../webroot/files/Institutions/cover_photo/1564115975University-of-Manchester1.jpg

The MSc in Actuarial Science provides a strong grounding in the mathematics of actuarial science and addresses both the current and future needs of the industry.  The programme was recently established and incorporates all mathematical techniques,  in particular from the fields of probability and statistics, a modern actuary could not do without. Our programme offers the following exemptions under the IFoA's new Curriculum 2019: CS1, CS2 (Actuarial Statistics) and CM2 (Actuarial Mathematics). If you are interested in developing a career as an actuary, this programme of study will provide the ideal entry platform into a broad range of employment sectors, such as Insurance, Finance and Risk Management.

Academic entry qualification overview

The entry requirement to the programme is normally a good upper second class honours degree in Mathematics/Statistics, a Science degree with a strong quantitative component, a subject with a substantial mathematical content, or an equivalent overseas qualification in a mathematical subject.  In particular, knowledge of probability and statistics equivalent to good second year undergraduate Mathematics degree level is required for entry to the programme.

English language

Students whose first language is not English require a minimum score of IELTS 6.5 with at least 6.0 in writing and 5.5 in each other component. 

English language test validity

Some English Language test results are only valid for two years. Your English Language test report must be valid on the start date of the course.

There are two teaching semesters of 12 weeks each and approximately 15 weeks of project work. Assessment for the taught part is by exams and coursework.

Dissertations, industrial links and internships

After two semesters with taught courses, in the final three months of the MSc year (June, July, August) students do a piece of independent research type work under direct supervision of a member of staff. The findings are written up in a report called a dissertation. Plenty of support is provided throughout this process (for most students this is a new activity).

The research can be based on relevant actuarial research literature, but a special feature of our programme is that it can also be based on a collaboration with an industrial partner on a problem of particular interest to them. These collaborations allow students to apply their skills to a very relevant 'real world' problem, and to have an ongoing conversation with the industrial partner about their progress. Previous partners for such collaborations include Mercer, Police Mutual, Willis Towers Watson, JLT Group and Aegon.

Furthermore we have a special relationship with the company Royal London. Every year they offer a number of paid internships of a special form to our students, which are awarded on a competitive basis. During such an internship, a student spends part of their time working on a project towards their dissertation (like all other students, also still under our supervision) but they also get to experience daily actuarial work in the Royal London offices (in Wilmslow). These internships provide a unique opportunity to combine researching a 'real world' problem with obtaining valuable work experience. About half of the students who have taken part in this scheme in the past were offered a job at Royal London after their internship.