Postgraduate MSc

Applied Actuarial Science with an Industrial Placement (International Master's)

Actuaries evaluate and manage financial risk. They make financial sense of the future for their clients by applying advanced mathematical and statistical techniques to solve complex financial problems.

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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. Kent is one of a very few universities in the UK to teach the subject.

Industrial placements may be undertaken in the UK or overseas. The University does not guarantee every student will find a placement. Those who do not secure a placement will be transferred to the MSc programme without a placement.

Accreditation

Our International Master’s programme is fully accredited by the Institute and Faculty of Actuaries. It is equivalent to the MSc in Actuarial Science followed by the one-year MSc in Applied Actuarial Science.

The International Master's in Applied Actuarial Science programme provides a fast-track route to qualifying as an actuary.

Students who achieve a high enough overall mark in this programme can obtain exemptions from professional examinations. Specifically, in the first year of the programme, depending on the modules chosen, students may be eligible to gain exemptions from subjects CB1, CB2, CM1, CM2, CS1 and CS2 of the Institute and Faculty of Actuaries. In the final year of the programme, depending on the modules chosen, students are eligible to gain exemptions from subjects CP1, CP2, CP3, SP2, SP5, SP7, SP8 and SP9 of the Institute and Faculty of Actuaries.

International Students

This programme is for international students with a good first degree who would like to gain exemptions from subjects in the Core Principle, Core Practices and Specialist Principle Stages of the Institute and Faculty of Actuaries’ examinations.

About the School of Mathematics, Statistics and Actuarial Science (SMSAS)

The School has a strong reputation for world-class research and a well-established system of support and training, with a high level of contact between staff and research students. Postgraduate students develop analytical, communication and research skills.

In 2010, the Centre for Actuarial Science, Risk and Investment (CASRI) was set up within SMSAS to reflect the widening scope of the teaching and research of the staff. Areas of research interest include economic capital and risk management for financial services firms, mortality and longevity modelling, longevity indices and markets. Other research topics include genetics and insurance, insurance economics, pensions and corporate reporting.

The Centre includes 13 professionally qualified actuaries with many years’ practical experience in insurance and pensions, and who maintain excellent links with the actuarial profession.

Your future

The UK Actuarial Profession

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. For more information about the actuarial profession, see www.actuaries.org.uk

Employability support

Helping our students to develop strong employability skills is a key objective within the School and the University. We provide a wide range of services and support to equip you with transferable vocational skills that enable you to secure appropriate professional positions within industry. Within the School we run specialist seminars and provide advice on creating a strong CV, making job applications and successfully attending interviews and assessment centres.

Our graduates have gone on to successful careers in the actuarial, finance, insurance and risk sectors.

Professional recognition

Fully accredited by the Institute and Faculty of Actuaries. Students who achieve a high enough overall mark can obtain exemptions from the professional examinations included within their studies.

Career support
Whether you want to get ahead in your current career, change lanes, or kickstart a new one – we are here to help you realise your ambition.

Fees and funding

The 2024/25 annual tuition fees for this course are:

Full-time

  • UK
  • International

For details of when and how to pay fees and charges, please see our Student Finance Guide.

For students continuing on this programme fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.* If you are uncertain about your fee status please contact information@kent.ac.uk.

Your fee status

The University will assess your fee status as part of the application process. If you are uncertain about your fee status you may wish to seek advice from UKCISA before applying.

For details of when and how to pay fees and charges, please see our Student Finance Guide.

For students continuing on this programme, fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.* 

Your fee status

The University will assess your fee status as part of the application process. If you are uncertain about your fee status you may wish to seek advice from UKCISA before applying.

General additional costs

Find out more about general additional costs that you may pay when studying at Kent. 

Search our scholarships finder for possible funding opportunities. You may find it helpful to look at both:

Scholarships

We have a range of subject-specific awards and scholarships for academic, sporting and musical achievement.

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Next steps

Ready to apply?

Learn more about the application process or begin your application by clicking on a link below.

You will be able to choose your preferred year of entry once you have started your application. You can also save and return to your application at any time.

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Kent focus

Supporting your success

We are here to support your postgraduate journey.

Top 50

Kent ranked top 50 in The Complete University Guide 2024.

Fees and funding

Support for funding so you can focus on your studies.

Research excellence

Kent has risen 11 places in THE’s REF 2021 ranking, confirming us as a leading research university.

Accommodation

It’s easy to study on or off campus at Kent – discover what is right for you.