Actuarial Science (MSc)

Program Overview

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Actuarial Science (MSc)

Award: Master of Science

Duration: 1 year

Course Type: Full-time

Campus: Highfield

About this course

Prepare for a career as an expert actuary with our actuary master's degree at the University of Southampton.

You'll have an early advantage in your career with a professional actuary degree that is recognised by the Institute and Faculty of Actuaries.

By the end of your studies, you’ll be able to assess and manage risk using advanced actuarial science methods. You can apply what you’ve learned to work as an analyst, or to many other careers that need quantitative skills.

You’ll learn how to become an actuary – a specialist who identifies, analyses and manages risks with long-term financial consequences. This expertise is vital in many businesses across the financial services industry.

This degree covers a broad collection of topics including:

• actuarial maths
• statistics and probability
• economics
• accounting and finance
• survival models and analysis

The course is flexible and will cater to students both with and without actuarial education. When you start, we’ll advise you on module choices to meet your specific needs.

Flexible study

If you prefer, you can apply to study this course as:

• a part-time master's - study the same course content over 2 or more years
• a Postgraduate Diploma (PGDip) - you'll usually study for around 30 weeks and will not need to write a dissertation

Your modules and fees may vary if you choose a different study option.

We regularly review our courses to ensure and improve quality. This course may be revised as a result of this. Any revision will be balanced against the requirement that the student should receive the educational service expected.

Our courses are regulated in England by the Office for Students (OfS).

Course lead

Dr Amine Lkabous leads this course. Amine is a lecturer in actuarial science at the School of Mathematical Sciences, and is interested in risk theory as well as stochastic optimisation problems applied in actuarial and financial mathematics.

Accreditations

• Institute and Faculty of Actuaries

Entry requirements

You’ll need a 2:1 degree in a quantitative subject such as:

• mathematics
• statistics
• economics

Find the equivalent international qualifications for your country.

English language requirements

If English isn't your first language, you'll need to complete an International English Language Testing System (IELTS) to demonstrate your competence in English. You'll need all of the following scores as a minimum:

• overall score: 6.5
• reading: 6.0
• writing: 6.0
• speaking: 6.0
• listening: 6.0

If you do not meet the English language requirements through a test or qualification, you may be able to meet them by completing one of our pre-sessional English programmes before your course starts.

Pre-masters

If you don’t meet the academic requirements, you can complete a pre-master's programme through our partnership with OnCampus. Learn more about the programmes available.

Course structure

This is a full-time MSc actuarial science course. You’ll study for 12 months, from September to the following September.

In the first 8 months (semesters 1 and 2) you'll study the taught part of your course.

This is made up of modules that everyone on the course takes, and modules we’ll ask you to choose from a list of options. You'll take exams at the end of both semesters.

You’ll begin preparing for your final project during semester 1, and continue this work in semester 2.

For the last 4 months, over the summer, you’ll work independently on your final project. You’ll have one-to-one meetings with your supervisor during this time to discuss your progress.

Modules

The modules outlined provide examples of what you can expect to learn on this degree course based on recent academic teaching. As a research-led University, we undertake a continuous review of our course to ensure quality enhancement and to manage our resources. The precise modules available to you in future years may vary depending on staff availability and research interests, new topics of study, timetabling and student demand.

Year 1 modules

You must choose your modules from the following modules:

• Accounting and Finance for Actuarial Science
• Actuarial Mathematics I
• Actuarial Mathematics II
• Actuarial Science Case Study 1
• Actuarial Science Case Study 2
• Economics
• Financial Mathematics
• MSc Actuarial Science Project
• Mathematical Finance
• Probability and Mathematical Statistics
• Statistical Methods in Insurance
• Stochastic Processes
• Survival Models

Learning and assessment

We teach through a mixture of:

• lectures
• tutorials
• problem classes
• computer workshops
• case studies

We’ll introduce you to the theory, methods and techniques of actuarial science, and develop your skills in:

• actuarial, statistical and financial modelling
• deductive reasoning and analysis
• finding, processing and using relevant information
• communicating your work to a range of audiences

Depending on the modules you take, we’ll assess your progress through a mixture of:

• exams
• coursework assignments
• class tests
• case study reports or a dissertation

Careers and employability

Graduates commonly work in a range of organisations or sectors including:

• Education
• Engineering
• Finance
• Banking
• Accountancy
• Government
• Insurance
• IT
• Business consultancy
• Marketing
• Market research
• Health
• Research

Careers directly related to this course:

• Actuary
• Actuarial analyst
• Chartered accountant
• Data analyst
• Data scientist
• Investment analyst
• Research scientist (maths)
• Secondary school teacher
• Software engineer
• Statistician

Wider career opportunities:

• Academic researcher
• Financial manager
• Financial trader
• Game designer
• Machine learning engineer
• Management consultant
• Meteorologist
• Operational researcher
• Quantity surveyor

Fees, costs and funding

Fees for a year's study:

• UK students pay £25,400.
• EU and international students pay £25,400.

Check fees for other versions of this course.

Deposit

If you're an international student on a full-time course, we'll ask you to pay £2,000 of your tuition fees in advance, as a deposit.

Your offer letter will tell you when this should be paid and provide full terms and conditions.

Find out about exemptions, refunds and how to pay your deposit on our tuition fees for overseas students page.

What your fees pay for

Your tuition fee covers the full cost of tuition and any exams. The fee you pay will remain the same each year from when you start studying this course. This includes if you suspend and return.

Find out how to pay your tuition fees.

Accommodation and living costs, such as travel and food, are not included in your tuition fees. There may also be extra costs for retake and professional exams.

Explore:

• accommodation costs
• living costs
• budgeting advice
• fees, charges and expenses regulations

10% alumni discount

If you’re a graduate of the University of Southampton, you could be eligible for a 10% discount on your postgraduate tuition fees.

Postgraduate Master’s Loans (UK nationals only)

This can help with course fees and living costs while you study a postgraduate master's course. Find out if you're eligible.

Southampton Mathematics Postgraduate International Scholarship

A scholarship of £3,000 is available to international students studying for a postgraduate master’s in Mathematics.

Find out more about the Southampton Mathematics Postgraduate International Scholarship, including eligibility and conditions.

Other postgraduate funding options

A variety of additional funding options may be available to help you pay for your master’s study. Both from the University and other organisations.

Funding for EU and international students

Find out about funding you could get as an international student.

How to apply

1. Use the blue 'apply for this course' button on this page to take you to our postgraduate admissions system.
2. Create an account which gives you access to your own application portal.
3. Search for the course you want to apply for.
4. Complete the application form and upload any supporting documents.
5. Pay the £50 application assessment fee, (there are some exemptions, check terms and conditions).
6. Submit your application.

For further details of our admission process, read our step by step guide to postgraduate taught applications.

Application deadlines

UK students

The deadline to apply for this course is Tuesday 9 September 2025, midday UK time.

We advise applying early as applications may close before the expected deadline if places are filled.

International students

The deadline to apply for this course is Tuesday 26 August 2025, midday UK time.

We advise applying early as applications may close before the expected deadline if places are filled.

Application assessment fee

We’ll ask you to pay a £50 application assessment fee if you’re applying for a postgraduate taught course.

This is an extra one-off charge which is separate to your tuition fees and is payable per application. It covers the work and time it takes us to assess your application. You’ll be prompted to pay when you submit your application which won’t progress until you've paid.

If you're a current or former University of Southampton student, or if you’re applying for certain scholarships, you will not need to pay the fee. PGCE applications through GOV.UK and Master of Research (MRes) degree applications are also exempt. Find out if you’re exempt on our terms and conditions page.

Supporting information

When you apply you’ll need to submit a personal statement explaining why you want to take the course.

You’ll need to include information about:

• your knowledge of the subject area
• why you want to study a postgraduate qualification in this course
• how you intend to use your qualification

You'll also need to submit two academic references.

Please include the required paperwork showing your first degree and your IELTS English language test score (if you are a non-native English speaker) with your application. Without these, your application may be delayed.

You may also be asked to provide:

• a degree transcript

What happens after you apply

You'll be able to track your application through our online Applicant Record System.

We will aim to send you a decision 6 weeks after you have submitted your application.

If we offer you a place, you will need to accept the offer within 30 working days. If you do not meet this deadline, we will offer your place to another applicant.

Unfortunately, due to number of applications we receive, we may not be able to give you specific feedback on your application if you are unsuccessful.

Equality and diversity

We treat and select everyone in line with our Equality and Diversity Statement.