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Master in Actuarial Science

The Master in Actuarial Science at ISEG - Lisbon School of Economics and Management - was designed according to the international requirements for the actuarial profession. It is meant to cover most of the course materials indispensable for the accreditation of an actuary in the European Union, in accordance with the Group Consultative Core Syllabus, as well as the course materials of exams FM, C, MFE and MLC of the Society of Actuaries.

The programme offers a solid academic foundation in actuarial science, statistics and finance, providing you the skills to become a successful actuary.

If you do sufficiently well in the programme, as determined by an examiner appointed by the Institute and Faculty of Actuaries, you will be exempt from the following UK professional actuarial examinations: CT1, CT3, CT4, CT5, CT6 and CT8. If you have a BSc from ISEG you may have also exemptions from CT2 and CT7.

During the fourth semester you may take a training post in an insurance company.

It was accredited in 2011 by the Agency for Assessment and Accreditation of Higher Education - A3ES

Starts:21/09/2015
Credits: 120 ECTS
Language : English
Application: Online

Core Modules


1st Semester


Financial Mathematics
Financial Markets and Investments
Probability and Stochastic Processes
Risk Models


2nd Semester


Generalized Linear Models
Loss Reserving
Survival Models and Life Contingencies
Risk Theory
Time Series

3rd Semester


Actuarial Topics
Asset-Liability Management
Models in Finance
Pension Funds
Ratemaking and Experience Raking
Solvency Models

4th Semester


Internship/Project/Dissertation

Visit the Master in Actuarial Science page on the University of Lisbon web site for more details!


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