Applied Actuarial Science (International Master's)

Overview

Qualifying as an actuary 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.

The Applied Actuarial Science (International Master's) programme from University of Kent is fully accredited by the Institute and Faculty of Actuaries. It is equivalent to the conversion MSc in Actuarial Science followed by the one-year MSc in Applied Actuarial Science.

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.

Careers

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 £35,936 with pay and bonuses increasingly sharply as you become more experienced. The average basic salary of a Chief Actuary is £206,236.

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.