Actuarial science is a discipline that involves the application of mathematical skills to assess risks and resolve issues and problems for industries such as the insurance and finance industry. Actuaries and analysts assess the financial impact of risk and uncertainty. They are business professionals who thoroughly understand finance and business and model the world around them, evaluating the probable impact of future events.
Why study Actuarial Science in the UK?
Over 100 courses are offered in actuarial science at over 30 universities in the UK. Most of these universities rank well globally, such as LSE, Warwick and Manchester, and students come from all over the world to study in them. Students in this field can secure a brighter future as actuaries are valued and respected and are in high demand worldwide.
Learn more about studying actuarial science below or book a free consultation to find out about Actuarial Science courses with SI-UK India today.
Five Great UK Universities for Actuarial Science
1. London School of Economics and Political Science
The BSc Actuarial Science programme at LSE is heavily focused on mathematics and statistics, earning accreditation from the Institute of Actuaries and the Royal Statistical Society. LSE Careers facilitates internship opportunities in the actuarial and financial sectors. The first year covers foundational mathematics, statistics, microeconomics, and macroeconomics.
The second year includes compulsory probability, distribution theory, actuarial investigations, and survival models courses. In the third year, compulsory courses cover stochastic processes, actuarial mathematics (life), and stochastic and actuarial methods in finance. Students also choose options from an approved list.
- Suggested course: BSc Actuarial Science
- Entry requirements: IB diploma: 38 points overall, with 766 in higher-level subjects, including Mathematics.
- International fee: £27,192
2. University of Manchester
The University of Mmanchester’s BSc Actuarial Science and Mathematics programme, accredited by the Institute and Faculty of Actuaries, provides a strong foundation in Mathematics. Graduates may receive exemptions from key actuarial subjects based on performance. The curriculum covers pure and applied mathematics, statistics, and actuarial science.
Initial years focus on mathematics, progressively delving into detailed statistical topics. Actuarial modules encompass Economics, Finance, and various models. The programme emphasises teamwork, communication, and leadership skills. Options include sustainability and enterprise. Graduates are well-prepared for actuarial roles, showcasing a blend of mathematical expertise and practical skills.
- Suggested course: BSc Actuarial Science and Mathematics
- Entry requirements: IB diploma: 37 points overall with 7, 6, 6 at Higher Level, including 7 in Mathematics.
- International fee: £33,000
3. University of Leeds
The Actuarial Mathematics degree at Leeds equips students with essential mathematical and actuarial skills, addressing real-world challenges in risk analysis. Highly sought across various sectors, actuaries utilise mathematical, statistical, financial, and economic theories to assess and mitigate financial risks.
The curriculum, jointly delivered by the School of Mathematics and Leeds University Business School, focuses on analytical, problem-solving, and computer application skills. With a detailed understanding of mathematics, students are well-prepared for intellectually stimulating and financially rewarding careers in insurance, pensions, banking, investment management, consultancy, manufacturing, and transport.
- Suggested course: Actuarial Mathematics BSc
- Entry requirements: IB diploma: 17 points at Higher Level, including 6 in Higher Level Mathematics (Mathematics: Analytics and Approaches are preferred).
- International fee: £27,250
4. University of York
York’s Actuarial Science degree combines the expertise of the School for Business and Society with the Department of Mathematics, providing access to cutting-edge research and world-class academics. The curriculum hones mathematical skills and statistical reasoning and explores advanced calculus, algebra, probability, economics, finance, and accounting.
Accredited by the Institute and Faculty of Actuaries, the programme ensures high-quality education, making graduates multi-faceted and highly employable. The course focuses on rigorous mathematical reasoning, data modelling, and analytical skills. The course covers topics such as Multivariable Calculus, Matrices, Business Economics, and Finance Fundamentals.
- Suggested course: BSc (Hons) Actuarial Science
- Entry requirements: IB diploma: 36 points, including Higher Level 6 in Maths.
- International fee: £23,700
5. University of East Anglia
The BSc in Actuarial Science at UEA provides an evolving curriculum and a robust foundation in actuarial science, data science, and risk management, accelerating the path to a career in finance, actuarial roles, or related fields. UEA's focus on industry needs ensures that graduates possess sought-after skills.
Positioned within the School of Computing Science, the course integrates computing and data science, including machine learning, artificial intelligence, and Python coding. Students develop multidisciplinary expertise in statistics, actuarial and financial mathematics, financial economics, and corporate finance.
- Suggested course: BSc (Hons) Actuarial Science
- Entry requirements: IB diploma: 33 points, including HL6 in Mathematics.
- International fee: £20,600
Entry Requirements
Actuarial science is ideal for students who love numbers and have studied and excelled at Math, Statistics, Calculus and Computer Science. At the postgraduate level, the subjects needed are Calculus, Algebra, Statistics, Probability, Computer Science, Finance, Economics, Business and Actuarial Science (if available). Most employers seek graduates with at least a 2:1 degree and excellent A-levels or equivalent in Maths and related subjects. They favour candidates with a degree in any numerate discipline.
To grow to be a certified actuary, you need to become a student member of the Institute and Faculty of Actuaries (IFoA) and pass a series of actuarial exams.
Careers
A career as an actuary offers a wide range of opportunities. Actuaries work in banking, corporate finance, investment management, life, healthcare, general insurance, and pensions. Graduates in the UK work in financial and other organizations such as KPMG, Lloyds Bank, Grand Thornton, Government Actuary’s Department, NFU Mutual, Milliman, HISCOX, First Actuarial, Aviva and AON.
Study Actuarial Science in the UK
If you are interested in studying actuarial science in the UK, arrange a free consultation with SI-UK to start your application.
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