Actuarial Science

The Actuarial Science course at University of Kent is all fully accredited by the Institute and Faculty of Actuaries; it also provides a fast-track route to qualifying as an actuary, because students who achieve a high enough overall mark in these programs can obtain exemptions from the professional examinations included within their studies.As one of the few universities to offer actuarial science in the UK, Kent’s program 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.

Depending on the modules chosen, MSc in Actuarial Science students may be eligible to gain exemptions from subjects CB1, CB2, CM1, CM2, CS1 and CS2 of the Institute and Faculty of Actuaries.

Your future

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 £36,842 with pay and bonuses increasingly sharply as you become more experienced. The average basic salary of a Chief Actuary is £209,292.

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.

Courses include:

• Financial Mathematics

• Probability and Statistics for Actuarial Science

• Actuarial Mathematics

• Data Modelling and Consultancy

• Corporate Finance for Actuaries