English > Studying at SCIENCE > Full degree MSc Degrees (in english) > MSc Programmes > Actuarial Mathematics

Are you crazy about probability theory, mathematics and statistics? Likewise, if you are interested in insurance, economics, accounting and law, the MSc in Actuarial Mathematics might well appeal to you. A wealth of career opportunities awaits you.

• Profile
• Career opportunities
• Programme Structure
• When and how to apply
• Admission requirements
• Tuition fees and application

Profile

You should pursue an MSc in actuarial mathematics if, first and foremost, you enjoy working with numbers. Among other themes, you will be engaged in addressing various types of damage insurance, life insurance, insurance economics, insurance accounting and insurance law. The degree embodies a combination of numbers, law and human welfare. Who doesn’t have a pension or insurance policy securing their everyday life and welfare into and through retirement? Actuarial mathematics is an indispensable field of study with regards to modern society, where a secure future cannot be taken for granted.

Career Opportunities

As an actuarial mathematician you could be hired to work for an insurance company, a bank, another type of financial institution or at a consultancy firm. Your work will be to solve statistical problems and deal with risk theory in relation to various types of insurance. Additionally, you can gain employment in public administration or within higher education.

The field is experiencing robust growth, in part due to the development of a rich theory of mathematical finance and also as a response to the reorientation that practical insurance is experiencing due to, e.g., the integration of banking, credit and insurance activities. Further reorientation of the actuarial profession has developed as a result of changes to and interpretations of the risk landscape in which catastrophe, including climate change, is becoming a more and more prominent concern. The future looks bright for you should you choose to pursue the MSc in Actuarial Mathematics.

Programme Structure

The MSc programme includes mandatory coursework in advanced probability theory, various types of actuarial mathematics and financial theory. There is also a large elective portion where you can specialise in one of these areas, or perhaps in related mathematical or statistical problems. This specialisation continues with a master's thesis where you work at a scientific level with an insurance-related problem.

In the culminating thesis project, you will often begin with a practical insurance related problem. The thesis is in many cases carried out in cooperation with an insurance company.

If you choose to study actuarial mathematics you will find yourself engaged in the development and application of mathematical, statistical and economic tools. These tools can be used to model, measure and manage insurance risks.

As an actuarial mathematics student, you will be heavily engaged with three overarching topics:

• Probability – Probability theory is used to analyze random phenomena, especially with regards to evolving random phenomena. Hence, the calculation of probability is a crucial element of actuarial mathematics.
• Life Insurance Mathematics – Life insurance mathematics deals with insurance in relation to major life events and includes retirement, death, disability and marriage. This typically incorporates long-term business and significant financial risk.
• Non-Life Insurance Mathematics – Non-life insurance mathematics deals with insurance covering damage or injury to things or persons, typically in relation to fire, natural disasters, theft and the like. It typically incorporates short-term business with significant catastrophe risk.

Master's Thesis: 30 ECTS
Restricted Optional Courses: 15 ECTS
Compulsory Courses: 60 ECTS
Optional Courses: 15 ECTS

When and how to apply

Find out how to apply through admissions

Admission requirements 

The admission requirements are described in §4 of the curriculum.

Tuition fees 

You can find information about tuition fees and how to apply for the programme under Admission.