If you have strong technical ability and an interest in solving business problems, becoming an actuary is one of the most rewarding career choices you can make. The MSc in Actuarial Science will propel you into the profession. It offers you a firm grounding in the fundamentals of actuarial science in insurance, finance and investment. You’ll undertake a detailed study of the mathematical and statistical techniques for measuring the probability and risk of future events and their financial impact on a business and/or their clients.
On this course, you will study statistics, probability, stochastic processes, survival models, economics, finance and investment, insurance, pensions and financial contracts valuation. This broad and varied syllabus is equivalent to the Institute and Faculty of Actuaries’ Core Technical professional examinations (Subjects CT1-CT8), and enables you to gain exemptions from them.
The course is delivered via face-to-face lectures from qualified actuaries, academics and other subject-specialists, complemented by dedicated online support, easy access to faculty members, and advice on study and exam techniques. Lecturers use their commercial experience and research expertise to deliver a challenging, relevant and intellectually stimulating course.
Assessment of modules on the MSc in Actuarial Science, in most cases, is by means of coursework and unseen examination. Coursework may consist of standard essays, individual and group presentations, group reports, classwork, unseen tests and problem sets. Please note that any group work may include an element of peer assessment.
We review all our courses regularly to keep them up-to-date on issues of both theory and practice.
To satisfy the requirements of the degree students must complete:
and either
During the induction period, which is compulsory, a variety of activities are offered to students, to support them in their learning and professional development. Cass Careers offers workshops with a focus on the key skills that employers are looking for, as well as preparing students for the application process. The annual MSc Careers Fair at this time provides the opportunity to meet more than 60 companies who are recruiting across many sectors including insurance, pensions, finance, energy, and other fields. Furthermore, innovative workshops are run on advanced study skills and obtaining practical insight to actuarial work.
Actuaries are experts in risk management. They mainly work for insurance companies, consultancy firms, banks and investment managers. They work in the areas of:
An actuarial career is a global professional passport. Our graduates from the MSc in Actuarial Science are well prepared to tackle actuarial and risk analyst, consultancy and underwriting roles in leading firms such as EY, PwC, KPMG, Willis Towers Watson, Munich Re, to name a few, that are as challenging as they are rewarding with starting salaries that far outstrip their peers in other industries.
A career as an actuary has been consistenly ranked within the top 10 best jobs for five years running (CareerCast)
The MSc in Actuarial Management serves as a continuation of the MSc in Actuarial Science allowing successful candidates to focus on the application of concepts learned, study the key areas of actuarial practice and choose from the various actuarial specialist subjects and attain further technical knowledge. Students taking that MSc get an opportunity to obtain further exemptions from the later Core Applications and Specialist Technical subjects of the Institute and Faculty of Actuaries.
This MSc provides a broad introduction to geohazards, together with advanced courses in seismology, volcanology, hydrogeological hazards and meteorology. A key goal is to provide an essential grounding in quantitative modelling that can be widely applied to several fields, from pure research to the commercial sector.
The programme provides an introduction to the spectrum and impact of geophysical hazards, and a focus on quantitative models for hazard forecasting and assessment. Selected case studies illustrate how these models are essential for improving decision-making during emergencies, for raising the awareness of vulnerable populations, and for evaluating and implementing mitigation strategies.
Students undertake modules to the value of 180 credits.
The programme consists of six core modules (120 credits) and a research dissertation (60 credits).
Core modules
Optional modules
There are no optional modules for this programme.
Dissertation/report
All students undertake an independent research project in geophysical hazards, which culminates in a dissertation of 15,000 words.
Teaching and learning
The programme is delivered through a combination of lectures, directed reading and practical exercises. There are excellent opportunities for field investigations in the UK and abroad. Assessment is through unseen written examinations, practical problem-solving exercises and essays. The independent research report is assessed through the dissertation and an oral presentation.
Fieldwork
Field sites for field trips are normally in Italy. The department pays for accommodation and transport in the field. Students pay to get to the field and subsistence.
Further information on modules and degree structure is available on the department website: Geophysical Hazards MSc
On graduation from this programme about one-third of students have followed careers in global insurance and re-insurance and another third have pursued research with a PhD in hazard-related studies. The remaining third have developed careers in a wide range of sectors, from non-governmental organisations, through teaching, to the fields of emergency planning and environmental management.
Recent career destinations for this degree
Employability
The MSc in Geophysical Hazards will provide essential training for careers in hazard assessment and risk evaluation, including: industry, from engineering to insurance; academic research; civil protection agencies and government organisations; and NGOs related to aid and development.
Careers data is taken from the ‘Destinations of Leavers from Higher Education’ survey undertaken by HESA looking at the destinations of UK and EU students in the 2013–2015 graduating cohorts six months after graduation.
UCL Earth Sciences is engaged in world-class research into the processes at work on and within the Earth and planets.
Graduate students benefit from our lively and welcoming environment and world-class facilities. The department hosts UCL Hazard Centre, Europe's leading multidisciplinary hazard research centre, and engages in extensive collaborative work with the Royal Institution and the Natural History Museum.
This MSc aims to include a short field trip to locations that illustrate the impact of natural hazards. Previous trips have included the Neapolitan volcanic district, the Italian Alps and the Po Delta, and the Cádiz region in south-western Spain.
The Research Excellence Framework, or REF, is the system for assessing the quality of research in UK higher education institutions. The 2014 REF was carried out by the UK's higher education funding bodies, and the results used to allocate research funding from 2015/16.
The following REF score was awarded to the department: Earth Sciences
92% rated 4* (‘world-leading’) or 3* (‘internationally excellent’)
Learn more about the scope of UCL's research, and browse case studies, on our Research Impact website.
Climate change, increasing urbanization and mounting exposure to natural hazards are imposing growing pressure on insurers and reinsurers to seek ways of limiting exposure. This programme offers students a better understanding of natural hazards and the means by which their impacts on the market can be mitigated or avoided.
Strong emphasis is placed on developing an improved understanding of natural hazards – the nature of available data, the conclusions we can draw from them, limitations and relevant cutting-edge research. Content focuses on hazards of most interest to the market, most notably windstorm, flood and earthquake, but also addresses geotechnical issues such as dam and reservoir safety, radioactive waste and energy resource issues.
Students undertake modules to the value of 60 credits.
The programme consists of two taught core modules (40 credits) and an independent research project (20 credits).
Core modules
Optional modules
There are no optional modules for this programme.
Research project/report
All students undertake an independent project, which culminates in an 8,000-word dissertation and an oral presentation.
Teaching and learning
The programme is delivered through lectures, seminars, discussions, directed reading, and problem-solving exercises. Student performance is assessed through a combination of examination and coursework in the form of essays, reports and exercises. The independent project is assessed through an 8,000-word report and an oral presentation.
Further information on modules and degree structure is available on the department website: Natural Hazards for Insurers PG Cert
For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website.
This programme is accredited by the Chartered Insurance Institute (CII), the premier professional organisation for those working in the insurance and financial services industry.
Recent career destinations for this degree
Careers data is taken from the ‘Destinations of Leavers from Higher Education’ survey undertaken by HESA looking at the destinations of UK and EU students in the 2013–2015 graduating cohorts six months after graduation.
Top hazard scientists at UCL and other leading academic institutions have worked with the under 35s reinsurance group and market professionals, to develop this flexible programme.
Students benefit from our welcoming environment and world-class facilities, which include the UCL Hazard Centre, Europe's leading multidisciplinary hazard research centre.
The programme is staffed by academics from UCL and partner universities,
the British Geological Survey and industry and market practitioners.
