12 months
56780 CAD/year
26780 CAD/year
Tuition fee
Apply date
Start date


The Department of Statistical Sciences at the University of Toronto offers a Master of Financial Insurance​​ (MFI), a full-time professional program focused on producing students who will become leaders in the global financial insurance industry. 


About this Degree

The Financial Insurance program at the University of Toronto stands on three pillars: statistical methods, financial mathematics, and insurance modelling. It provides students with education at the interface of these domains with suff​​icient depth and breadth so that students can provide both detailed analysis of specific financial insurance risks as well as provide a bird’s-eye perspective on how the embedded risks affect the firm enterprise wide.

​This program is particularly appropriate for students with backgrounds in statistics, actuarial science, economics, and mathematics, but students with a quantitative background (such as those in physics and engineering) and sufficient statistical training are also encouraged to apply. The program welcomes applications from international students. 

Programme Structure


  • Applied Probability for Mathematical Finance
  • Data Analytics in Practice
  • Applied Time-Series Analysis
  • Life Insurance Mathematics
  • Data Science for Risk Modelling
  • Industrial Seminar Series

Key information


  • Full-time
    • 12 months

Start dates & application deadlines


5 alternative credits

5.5 full-course equivalents (FCEs)


On Campus

Academic requirements

GPA admission requirements GPA

Other requirements

General requirements

  • Applicants are admitted under the General Regulations of the School of Graduate Studies. Applicants must also satisfy the Department of Statistical Sciences' additional admission requirements stated below.

  • An appropriate bachelor’s degree from a recognized university in a related field such as statistics, mathematics, finance, and actuarial science, or any discipline where there is a significant quantitative component. 

  • An average grade equivalent to at least a University of Toronto B+ in the final year or over senior courses; applicants who meet the SGS grade minimum of mid-B and demonstrate exceptional ability through appropriate workplace experience will be considered.

  • Three letters of reference including two academic references, one of which should be in a quantitative discipline.

  • A curriculum vitae detailing the student’s educational background, professional experience, and skills.

  • Selected applicants may be required to attend an interview.

Tuition Fee

To alway see correct tuition fees
  • International

    56780 CAD/year
    Tuition Fee
    Based on the tuition of 56780 CAD per year during 12 months.
  • National

    26780 CAD/year
    Tuition Fee
    Based on the tuition of 26780 CAD per year during 12 months.

Living costs for Toronto

1502 - 2563 CAD /month
Living costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


Studyportals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

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