Studyportals

Actuarial Science

ISEG - Lisbon School of Economics and Management

M.Sc. On Campus
18 months
Duration
4666 EUR/year
3666 EUR/year
Unknown
Tuition fee
Unknown
Unknown
Apply date
Unknown
Start date

About

The Masters in Actuarial Science at ISEG - Lisbon School of Economics and Management (University of Lisbon)  offers a solid academic foundation in actuarial science, statistics and finance, providing you the skills to become a successful actuary.It is meant to cover most of the course materials indispensable for the accreditation of an actuary in the European Union.

Overview

COVID-19

ISEG Lisbon is taking all measures with health and safety of our community as a top priority. Since March we're operating 100% online, engaging virtually and using online tools for learning and evaluation.ISEG Lisbon is fully commited to ensure safety of our candidates for next intake, and we're preparing everything to welcome you all in September.

The Masters in Actuarial Science at ISEG - Lisbon School of Economics and Management  (University of Lisbon) 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 Actuarial Association of Europe, as well as the course materials of exams P, FM, IFM, LTAM, SRM and STAM of the Society of Actuaries.

The three VEE topics (Economics, Corporate Finance and Applied Statistical Methods) sponsored by the Society of Actuaries (SOA) - USA, Casualty Actuarial Society (CAS) - USA and Canadian Institute of Actuaries (CIA), may automaticaly be awarded for the students that have a Bachelors degree from ISEG and decide to take the SOA actuarial exams. See  SOA VEE courses. Our Master is also in the SOA UCAP list. 

ISEG's  Master in Actuarial Science is one of only a few to be accredited by the Institute & Faculty of Actuaries (IFoA), the professional body for UK actuaries. If you do sufficiently well in the programme, you may gain exemptions from the Core Principles exams CS1, CS2, CM1, CM2 and CB1 of the UK actuarial profession. If you have a BSc from ISEG you may be able of getting exemptions from the CB2, provided your marks are good enough. After exemptions are granted by IFoA, students my be conceded waivers to the correspondent Society of Actuaries (USA) exams.

Our Master is ranked 13 in the 50 best Masters in Insurance, Risk and Actuarial Sciences and our university, the University of Lisbon, is second in the 2018 Iberoamerican ranking produced by SCImago. ISEG has been ranked 26th in the world in the new Business Schools Actuarial Science Ranking.

The program offers a solid academic foundation in actuarial science, statistics, and finance, providing you with the skills to become a successful actuary. During the fourth semester, you can take a training post in an insurance company or write a thesis or a project. You may be able to spend a semester in a partner university, through the ERASMUS program.

Last, but not least, Lisbon offers an exceptional historical heritage and ISEG is situated in the heart of it. The cost of living is below that of other capitals which gives to this Master financial advantage over other academic actuarial centers. 

Objectives

The main objectives of the Master of Actuarial Science are:

  • Training students for the actuarial profession, in its multiple components: life, non-life, financial and pension funds.
  • Contributing to the education of academics, allowing the University to play an active role in the production of advanced studies in the areas of the Master.
Designed For

The Master in Actuarial Science was designed for students with a solid background in Mathematical Analysis and Statistics, who are seeking to enter the actuarial profession and pursuing a path towards this rewarding career.

We accept candidates with a bachelor's degree in Mathematics, Mathematics with Economics or Statistics, and some of the bachelor's degrees in Economics, Finance or Management. Accepted applicants have normally achieved a minimum of 14 out of 20 points in the Portuguese system for one of these degrees, or 2:1 honors in the British system, or equivalent (e.g. G.P.A. 3.0).

Employment

There is a regular demand for actuaries all over the world. The main employers of our Master students have been:

  • Insurance companies (life and non-life)
  • Pension fund management societies
  • Consulting companies
  • Control authorities
  • Banks
  • Universities

Several of our students did their Final Mater Work as interns in Autoridade de Supervisão de Seguros e Fundos de Pensões, Liberty Seguros, Companhia de Seguros Allianz Portugal SA, Companhia de Seguros Tranquilidade, Axa Portugal, Fidelidade, Willis Towers Watson, KPMG, Optimind Winter, Ernst & Young Portugal and in Taylor Fry Consulting Company.

10 Reasons To Choose Actuarial Science At ISEG

  • 1) ISEG, Lisbon School of Economics and Management is the only Faculty in Portugal that offers a University degree in Actuarial Science.
  • 2) ISEG has been part of the Universidade de Lisboa (ULisboa), which is now the largest University in Portugal.
  • 3) The Masters in Actuarial Science is one of the few non-Bristish programmes fully accredited by the Institute and Faculty of Actuaries in the UK.
  • 4) It is also part of the UCAP list of the Society of Actuaries in USA. The new IFoA curriculum for 2019 has been adopted since school year 2018/2918.
  • 5) This program provides in depth coverage of the most up-to-date actuarial knowledge and required competences and offers a short a BSc. It is one of the 50 worldwide best Masters in Insurance according to the EDUniversal Best Masters ranking.
  • 6) For the second consecutive year a group from ISEG's Master in Actuarial Science reached top3 of the Challenge Contest promoted by SOA
  • 7) ISEG has a group of lecturers whose achievements in international research are on a par with the best international schools of Actuarial Science and some of them are practitioner actuaries. Our academic staff is dedicated and always willing to support and advise students.
  • 8) ISEG has excellent modern facilities, including a extensive library, which is particularly complete in the field of Actuarial Science. Students have access to study rooms, accessible during extended hours.
  • 9) As success in the professional world is not just about passing exams and gaining exemptions, ISEG helps you to gain other skills. Research seminars, seminars with speakers from industry, organized by the ISEG Actuarial Science Club, a career development programme and a career development team, which provides counselling service, are also at your disposal.
  • 10) This programme offers many internship opportunities, which give you an advantage when applying for jobs.
  • Accreditation

    Our Masters in Actuarial Science is one of only a few to be accredited by the Institute & Faculty of Actuaries , the professional body for UK actuaries.

    ISEG is internationally recognized for its high standards in teaching and research: the school is accredited by AACSB (Association of Advanced Collegiate Schools of Business) and AMBA, a distinction held by only 5% of business schools in the world.

    Programme Structure

    Courses include:

    • Computation Tools for Actuaries
    • Financial Markets and Investments
    • Financial Mathematics
    • Probability and Stochastic Processes
    • Risk Models
    • Generalised Linear Models

    Audience

    Designed For

    The Master in Actuarial Science was designed for students with a solid background in Mathematical Analysis and Statistics, who are seeking to enter the actuarial profession and pursuing a path towards this rewarding career.

    We accept candidates with a bachelor's degree in Mathematics, Mathematics with Economics or Statistics, and some of the bachelor's degrees in Economics, Finance or Management. Accepted applicants have normally achieved a minimum of 14 out of 20 points in the Portuguese system for one of these degrees, or a 2:1 honours in the British system, or equivalent (e.g. G.P.A. 3.0).

    Key information

    Duration

    • Full-time
      • 18 months

    Start dates & application deadlines

    More details

    Applications for 2021/2022 are now open.

    To submit it go to link https://bit.ly/3pTKNlc

    Language

    English

    Credits

    120 ECTS

    Delivered

    On Campus

    Academic requirements

    We are not aware of any academic requirements for this programme.

    English requirements

    We are not aware of any English requirements for this programme.

    Other requirements

    General requirements

    The Masters in Actuarial Science requires a solid academic background in Mathematical Analysis, Probability and Statistics. This normally implies holding a bachelor's degree, either national or foreign, in Mathematics, Mathematics with Economics, Statistics or some of the bachelor's degrees in Economics, Finance or Management. Applicants from other fields will be considered on a case-by-case basis. 

    Tuition Fee

    • International

      4666 EUR/year
      Tuition Fee
      Based on the original amount of 7000 EUR for the full programme and a duration of 18 months.
    • EU/EEA

      3666 EUR/year
      Tuition Fee
      Based on the original amount of 5500 EUR for the full programme and a duration of 18 months.
    • EU/EEA : 1st year -  €3500, 2nd year - €2000 
    • International: 1st year - €4500, 2nd year - €2500

    Funding

    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.

    Due for update

    Updated over a year ago

    Check the official programme website for potential updates.

    Actuarial Science
    -
    ISEG - Lisbon School of Economics and Management

    Wishlist

    Go to your profile page to get personalised recommendations!