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MSc Actuarial Management
Heriot-Watt University Edinburgh, Edinburgh, United Kingdom
# 151-200QS Subject Rankings
12 monthsProgram duration
24,176 GBPTuition Fee/year
YesScholarships
Program overview
Main Subject
Mathematics
Degree
MSc
Study Level
Masters
Study Mode
On Campus
The MSc in Actuarial Management is fully accredited with the Institute and Faculty of Actuaries in the UK for subjects: CP1, CP2, CP3, SP2, SP4, SP5, SP6 and SP9. In addition, studying subject SP9 leads to the internationally recognised Certified Enterprise Risk Actuary (CERA) qualification. It is also possible to "catch up" with some of the earlier subjects that you may have missed – such as CB1, CB2 or CM2.
These subjects cover a variety of areas including life insurance, risk management, investment, derivatives, pensions, communication and modelling. You choose the best combination for you.
Completing this degree gets you close to qualification as an actuary, with only one or two exams left to complete after leaving university. It typically speeds up your qualification by one or two years.
Our Expertise
Your learning will be informed by the expertise of our research-active academics whose work covers four key areas:
Heriot-Watt University is the home of actuarial science in the UK. We were the first university in the UK to offer a degree in actuarial science. Now – each year – we help between 100 and 200 students gain the exemptions they need from actuarial Institute and Faculty of Actuaries' (IFoA) exemption subjects.
Your learning environment
In the MSc Actuarial Management programme, you will receive instruction from academic leaders and qualified actuaries, instructing through a variety of methods, including lectures, tutorials, practical sessions, and self-directed study. This approach fosters strong connections with our teaching staff and fellow students.
Your assessments will include coursework, exams, and project work, with continuous feedback to aid in your development.
Throughout your studies, you will have access to outstanding facilities, including:
Outside of the classroom, you can engage with fellow students through the Actuarial Society and events organised by the Mathematics Society. These opportunities will help you expand your professional network and continue your learning journey in the field.
Becoming an Actuary in the UK:
As an actuary, you specialise in risk management, often within the insurance sector. To qualify as an actuary in the UK, you must pass a series of exams administered by the Institute and Faculty of Actuaries (IFoA).
First Set of Exams (Mathematical Material):
The first set of exams includes CB1, CB2, CM1, CM2, CS1, and CS2. These exams cover subjects such as accounts, economics, financial/actuarial mathematics, and applied statistics. You can take accredited BSc and MSc programmes in Actuarial Science at Heriot-Watt University. The MSc in Actuarial Science provides a quicker route to exemptions, taking just one year to complete.
Second Set of Exams (Real-Life Application):
The second set of exams focuses on applying mathematical knowledge in real-life scenarios. These exams include CP1, CP2, CP3, SP2, SP4, SP5, SP6, and SP9, all administered by IFoA. You can prepare for these practical challenges through Heriot-Watt University's MSc in Actuarial Management. Alternatively, there is an MSc in Actuarial Management with Data Science, which equips you with machine learning skills, increasingly valuable in the modern world.
Accelerated Path to Qualification:
If you are seeking an accelerated path to qualification, Heriot-Watt University offers a 2-year MSc in Actuarial Science and Management. In the first year, you cover CB1, CB2, CM1, CM2, CS1, and CS2 material. In the second year, you delve into CP1, CP2, CP3, SP2, SP4, SP5, SP6, and SP9 subjects, with the option to choose a subset. Additionally, the university offers data science (machine learning) courses for students interested in expanding their skill set.
Accreditation
Institute and Faculty of Actuaries in the UK
Center of Actuarial Excellence
Program overview
Main Subject
Mathematics
Degree
MSc
Study Level
Masters
Study Mode
On Campus
The MSc in Actuarial Management is fully accredited with the Institute and Faculty of Actuaries in the UK for subjects: CP1, CP2, CP3, SP2, SP4, SP5, SP6 and SP9. In addition, studying subject SP9 leads to the internationally recognised Certified Enterprise Risk Actuary (CERA) qualification. It is also possible to "catch up" with some of the earlier subjects that you may have missed – such as CB1, CB2 or CM2.
These subjects cover a variety of areas including life insurance, risk management, investment, derivatives, pensions, communication and modelling. You choose the best combination for you.
Completing this degree gets you close to qualification as an actuary, with only one or two exams left to complete after leaving university. It typically speeds up your qualification by one or two years.
Our Expertise
Your learning will be informed by the expertise of our research-active academics whose work covers four key areas:
Heriot-Watt University is the home of actuarial science in the UK. We were the first university in the UK to offer a degree in actuarial science. Now – each year – we help between 100 and 200 students gain the exemptions they need from actuarial Institute and Faculty of Actuaries' (IFoA) exemption subjects.
Your learning environment
In the MSc Actuarial Management programme, you will receive instruction from academic leaders and qualified actuaries, instructing through a variety of methods, including lectures, tutorials, practical sessions, and self-directed study. This approach fosters strong connections with our teaching staff and fellow students.
Your assessments will include coursework, exams, and project work, with continuous feedback to aid in your development.
Throughout your studies, you will have access to outstanding facilities, including:
Outside of the classroom, you can engage with fellow students through the Actuarial Society and events organised by the Mathematics Society. These opportunities will help you expand your professional network and continue your learning journey in the field.
Becoming an Actuary in the UK:
As an actuary, you specialise in risk management, often within the insurance sector. To qualify as an actuary in the UK, you must pass a series of exams administered by the Institute and Faculty of Actuaries (IFoA).
First Set of Exams (Mathematical Material):
The first set of exams includes CB1, CB2, CM1, CM2, CS1, and CS2. These exams cover subjects such as accounts, economics, financial/actuarial mathematics, and applied statistics. You can take accredited BSc and MSc programmes in Actuarial Science at Heriot-Watt University. The MSc in Actuarial Science provides a quicker route to exemptions, taking just one year to complete.
Second Set of Exams (Real-Life Application):
The second set of exams focuses on applying mathematical knowledge in real-life scenarios. These exams include CP1, CP2, CP3, SP2, SP4, SP5, SP6, and SP9, all administered by IFoA. You can prepare for these practical challenges through Heriot-Watt University's MSc in Actuarial Management. Alternatively, there is an MSc in Actuarial Management with Data Science, which equips you with machine learning skills, increasingly valuable in the modern world.
Accelerated Path to Qualification:
If you are seeking an accelerated path to qualification, Heriot-Watt University offers a 2-year MSc in Actuarial Science and Management. In the first year, you cover CB1, CB2, CM1, CM2, CS1, and CS2 material. In the second year, you delve into CP1, CP2, CP3, SP2, SP4, SP5, SP6, and SP9 subjects, with the option to choose a subset. Additionally, the university offers data science (machine learning) courses for students interested in expanding their skill set.
Accreditation
Institute and Faculty of Actuaries in the UK
Center of Actuarial Excellence
Admission requirements
Exam Scores
Important Dates
Entry requires an excellent Bachelors or Masters degree, and for the student to have studied, and be proficient in, the application of a wide range of the early actuarial mathematical material. Broadly speaking, students need to have covered previously much of the syllabus of early Institute and Faculty of Actuaries subjects: CM1, CM2, CS1, CS2, CB1 and CB2.
The degree is challenging but rewarding. Working hard will get you a suite of exemptions and the ability to perform well in interviews in order to secure your first role in business.
If you have not passed most or all of the early actuarial Institute and Faculty of Actuaries subjects then our MSc in Actuarial Science (1 year) degree or our MSc in Actuarial Science and Management (2 year) degree may be better for you.
Tuition fee and scholarships
Tuition Fee
Scholarships
Domestic Students
International Students
One of the important factors when considering a master's degree is the cost of study. Luckily, there are many options available to help students fund their master's programme. Download your copy of the Scholarship Guide to find out which scholarships from around the world could be available to you, and how to apply for them.
In this guide you will find:
Where to look for scholarship opportunities
How to apply to scholarships relevant to you
A list of available scholarships around the world
A scholarship application checklist
More programs from the university
Bachelor UG
Master PG
MBA
PHD
From top 10 rankings to opportunities to study abroad, there are many reasons to choose Heriot-Watt. Here are just a few of them.
A rich heritage
We are proud that since our foundation in 1821 we have been outward-looking pioneers of education, in pursuit of knowledge to the benefit of society and the world.
Become a global student
Heriot-Watt provides you with the opportunity to become a global student both at our UK campuses and internationally. On our Edinburgh Campus you’ll find that about one-third of our students are from countries outside the UK, bringing a real international flavour to our community. This mix of people provides a great opportunity to learn about other cultures and build friendships that stretch across the globe.
We also encourage students to take part in our global student programme, Go Global, by participating in an Inter-Campus Transfer, Exchange or Erasmus+ for a semester or year of their degree.
A world-class reputation
We are world-renowned for excellence in teaching and research. We are ranked 235th in the world and 32nd in the UK (QS World University Rankings 2024), and almost 90% of our research outputs are classed as world-leading and internationally excellent (REF 2021). View our rankings.
Strong links to business and industry
Our taught programmes and research are informed by the needs of business and industry. We actively facilitate collaborations and partnerships, building strategic alliances and promoting knowledge transfer.
Globally employable graduates
Global companies actively seek out our graduates as they are work-ready. Our programmes are designed to ensure that students receive a relevant, careerorientated education. As a result, more than 95% are in employment or further study six months after completing their programme.
Worldwide network
When you join Heriot-Watt you become part of a global family. We have around 123,000 alumni worldwide. The Watt Club was founded in 1854 and is the oldest graduate club in the UK. Lifetime membership is automatic upon graduation from Heriot-Watt and is free to all graduates of the University.
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MA (Hons) Geography, Society and Environment
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BSc (Hons) Brewing and Distilling
BSc (Hons) Brewing and Distilling and Diploma in Industrial Training
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BSc (Hons) Physics
MChem Chemistry
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MEng Electrical and Electronic Engineering
MEng Mechanical Engineering
MEng Mechanical Engineering and Energy Engineering
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School of Mathematical and Computer Sciences (5)
BSc (Hons) Actuarial Science
BSc (Hons) Computer Science
BSc (Hons) Computer Science (Artificial Intelligence)
BSc (Hons) Computer Science (Cyber Security)
BSc (Hons) Computer Science (Data Science)
BSc (Hons) Computer Science (Games Programming)
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BSc (Hons) Computer Systems (Games Programming)
BSc (Hons) Financial Mathematics
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BSc (Hons) Mathematical, Statistical and Actuarial Sciences
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BSc (Hons) Mathematics with French
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BSc (Hons) Psychology
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BSc (Hons) Psychology with Management
MA (Hons) Accountancy
MA (Hons) Accountancy and Finance
MA (Hons) Applied Modern Languages and Translating
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MA (Hons) British Sign Language (Interpreting, Translating and Applied Language Studies)
MA (Hons) Business and Finance
MA (Hons) Economics
MA (Hons) Economics and Business Management
MA (Hons) Economics and Finance
MA (Hons) Finance
MA (Hons) International Business Management
MA (Hons) Marketing
MA (Hons) Modern Languages (Interpreting and Translating)
MA (Hons) Modern Languages for Business Management
MA (Hons) Modern Languages, Communication and Culture
School of Textiles and Design (5)
BA (Hons) Communication Design
BA (Hons) Design for Textiles (Fashion, Interior, Art)
BA (Hons) Fashion
BA (Hons) Fashion Branding and Promotion
BA (Hons) Interior Architecture and Design
Heriot-Watt is one of the world’s leading universities with strong links to international business and industry driven by our established reputation as a top research-led institution. Heriot-Watt is world-renowned for conducting ground-breaking research which is relevant to business and industry. We aim to find radical innovations and solutions to real world challenges for the benefit of society.
We offer over 180 Postgraduate courses that will provide you with the knowledge to solve real world challenges. There are around 2,400 postgraduate students studying at our Edinburgh Campus. It is a friendly, welcoming place, where you will have the opportunity to meet with students from all over the world.
Heriot-Watt is regarded as a top UK university across a range of subject areas. The QS World’s University Rankings ranked Heriot-Watt 302nd in the world, 39th in the UK and 7th in Scotland.
The international outlook of our university has been ranked 37th in the world, 13th in the UK and 3rd in Scotland by Times Higher Education World University Rankings 2019. This is based on the percentage of the university's international staff, the level of international co-authorship of academic papers and the percentage of international students studying with the university. The Times/Sunday Times Good University Guide named Heriot-Watt University ‘International University of the Year 2018’.
REF 2014 named Heriot-Watt in the top 25% of UK universities, with 82% of our research ranked as world-leading or internationally excellent. We ranked 9th university in the UK and 1st in Scotland for research impact. View our rankings.
School of Energy, Geoscience, Infrastructure and Society (5)
MSc Advanced Structural Engineering
MSc Brewing and Distilling (online)
MSc Building Services Engineering (online)
MSc Civil Engineering and Construction Management
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MSc Civil Engineering with Industry Placement (2 years)
MSc Climate Change: Managing the Marine Environment
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MSc Commercial Management and Quantity Surveying (online)
MSc Commercial Management and Quantity Surveying with Industry Placement (2 years)
MSc Construction Project Management
MSc Construction Project Management (online)
MSc Construction Project Management with Industry Placement (2 years)
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MSc Global Environmental Change and Policy
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MSc Real Estate
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MSc Reservoir Evaluation and Management
MSc Safety and Risk Management (online)
MSc Safety, Risk and Reliability Engineering (online)
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MSc Subsurface Energy Systems
MSc Urban Strategies and Design
Master of Architecture
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MSc Advanced Mechanical Engineering with Industrial Application
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MSc Brewing and Distilling with Entrepreneurship
MSc Energy
MSc Energy with Entrepreneurship
MSc Food Process Engineering
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MSc Global Sustainability Engineering with Industrial Application (2 year)
MSc Imaging, Vision and High Performance Computing
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MSc Robotics
MSc Robotics with Industrial Application
MSc Toxicology
School of Mathematical and Computer Sciences (5)
Applied Cyber Security
Applied Mathematical Sciences (2 years)
Artificial Intelligence (2 years)
Data Science (2 years)
Graduate Certificate in the Mathematical Sciences
MDes Games Design and Development
MSc Actuarial Management
MSc Actuarial Management with Data Science
MSc Actuarial Science
MSc Actuarial Science and Management
MSc Advanced Computer Science
MSc Applied Mathematical Sciences
MSc Applied Mathematical Sciences with Climate and Environmental Modelling
MSc Artificial Intelligence
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MSc Data Science
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MSc Mathematical Biology, Ecology and Medicine
MSc Mathematics
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Business Analytics and Consultancy with Advanced Practice
Digital Marketing with Advanced Practice
International Business Management with Advanced Practice
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MSc Business Analytics and Consultancy
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MSc Sign Language Interpreting (EUMASLI)
MSc Social and Behavioural Research Methods
MSc Sport Psychology
MSc Strategic Project Management
MSc Supply Chain Management and Logistics (Online)
MSc Sustainable Finance with Fintech
MSc Translating
Pre-Masters Graduate Diploma in Business Studies
Pre-Masters Graduate Diploma in Business Studies (Accelerated)
School of Textiles and Design (5)
MA Digital Design and Innovation
MA Fashion and Textiles Design
MA Fashion and Textiles Design with Industry Placement
MA Interior Architecture and Design
MPhil Textile Design and Clothing Manufacture
MSc Design Management
MSc Fashion and Textiles Management
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MBA with a Specialism in Business Psychology (online)
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Master of Business Administration (online)
School of Energy, Geoscience, Infrastructure and Society (5)
PhD Construction Management and Innovation
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PhD Institute of Biological Chemistry, Biophysics and Bioengineering
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DBA Business Administration
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School of Textiles and Design (5)
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