Actuarial Science

Actuarial Science at the University of Essex is a comprehensive undergraduate program designed to prepare students for a successful career in the actuarial profession. This degree combines rigorous mathematical and statistical training with practical applications in insurance, finance, and risk management, equipping graduates with the essential skills to analyze and interpret data, assess risk, and develop strategies to manage uncertainty. The course curriculum covers core areas such as probability theory, financial mathematics, statistics, economics, and actuarial models, ensuring students gain a solid foundation in the quantitative techniques used in the industry.

Students will also explore topics like pensions, insurance, investment, and the legal and regulatory environment impacting the actuarial sector. The program benefits from strong links with industry professionals and professional bodies, providing opportunities for networking, internships, and placements that enhance employability after graduation. The University of Essex emphasizes a supportive learning environment, with small class sizes and access to modern facilities, including computer labs equipped with industry-standard software.

Throughout the course, students are encouraged to develop critical thinking, problem-solving, and communication skills, which are vital for effective actuarial practice. The university's curriculum is designed in alignment with the requirements of professional actuarial bodies, such as the Institute and Faculty of Actuaries (IFoA), enabling students to progress seamlessly through their professional exams while studying. Upon successful completion of the degree, graduates will be well-prepared for entry-level roles in actuarial consulting firms, insurance companies, and financial services organizations. Alternatively, students may choose to continue their education through postgraduate study or research opportunities to further specialize in areas such as financial engineering or risk management. Overall, the Actuarial Science program at the University of Essex offers a rigorous, industry-relevant education that opens pathways to a rewarding career in a dynamic and growing field.

Detailed Course Facts

• GBP 9000 Year (EEA)
• GBP 11950 Year (Non-EEA)

• English

Course Content

The special characteristics of our courses are flexibility and choice. In your first year, you usually take four or five modules that include pre-requisite(s) for your course but, in many cases, mean you can try subjects you have not come across before. If you are taking science and engineering subjects, then these options are slightly restricted because our science modules tend to rely on previous knowledge of the subject.
With a small number of exceptions, if you successfully complete the first year of your BSc, then you are qualified to enter the second year not only of that course but also of a range of other courses: for example, if you are a BSc student who takes economics, politics, philosophy and sociology in your first year, then you have a choice of at least two courses and, in some cases, as many as five. This means you can change your course, providing you have taken the appropriate pre-requisites and places are available.
We operate a credit framework for our awards, which is based on principles widely used across the UK university sector. Each module has a credit rating attached and our standard three-year course consists of 360 credits (120 credits in your first year, and 240 credits across your second and final years).
Please note that module information on our course finder provides a guide to course content and may be subject to review on an annual basis.

Year 1

Calculus;
Further Calculus ;
Linear Mathematics;
Statistics;
Financial Mathematics;
Introduction to Finance; and
Introduction to Economics

Year 2

Mathematical Methods;
Finance and Financial Reporting;
Corporate Finance;
Probability and Statistics I;
Survival Models;
Contingencies I; and
Macroeconomics (Intermediate)

Year 3

Stochastic Processes;
Contingencies II;
Statistical Methods;
Microeconomics (Intermediate);
Mathematics of Portfolios;
Options and Futures; and
Risk Management
Please note that Mathematics Careers and Employability is a compulsory module which must be taken in all years (not including Year Abroad) but is non-credit bearing and does not contribute towards your final degree.

English Language Requirements

IELTS band : 6

To study at this university, you have to speak English. We advice you to

Requirements

• A-levels: AAB, including A in Mathematics (please note that we are unable to accept A-level Use of Mathematics in place of A-level Mathematics), or ABB, including B in Further Mathematics
• GCSE English: C
• IB: 33 points, including Higher Level Mathematics at grade 6
• English language requirements for applicants whose first language is not English: IELTS 6.0 overall with minimum 5.5 in each component (or equivalent). Different requirements apply for second year entry.

Work Experience

No work experience is required.

Related Scholarships*

• Academic Excellence Scholarship

  "The Academic Excellence Scholarship can provide up to a 50 % reduction in tuition per semester. These scholarships will be renewed if the student maintains superior academic performance during each semester of their 3-year Bachelor programme. The scholarship will be directly applied to the student’s tuition fees."

• Access Bursary

  Bursary for UK students all subjects where the variable tuition fee rate is payable.

• Alumni Bursary

  Alumni Bursary for UK Undergraduate students

* The scholarships shown on this page are suggestions first and foremost. They could be offered by other organisations than University of Essex.

Funding

For up-to-date information on funding opportunities at Essex, please visit: www.essex.ac.uk/studentfinance.

The Bachelor's degree in Actuarial Science at the University of Essex is designed to provide students with a comprehensive understanding of the core principles of actuarial mathematics, statistics, economics, and finance. The programme aims to equip students with the necessary analytical and problem-solving skills to assess risk and uncertainty, which are essential in the insurance, pension, and financial services industries. Throughout the course, students will study modules such as probability theory, financial mathematics, actuarial modelling, and the principles of insurance and risk management. The curriculum is structured to support students in progressing towards professional actuarial qualifications, such as those administered by the Institute and Faculty of Actuaries in the UK. In addition to technical skills, the programme emphasizes the development of transferable skills including quantitative analysis, data interpretation, communication, and teamwork. The course offers opportunities for students to engage in practical work, use relevant industry software, and undertake projects that simulate real-world actuarial tasks. The university's facilities include access to specialized software and resources that mirror professional environments. Students benefit from experienced faculty members involved in research and professional practice, as well as potential internships or work placements with industry partners. The programme typically extends over three years for full-time students, with options for placements or year abroad as part of the degree pathway. Graduates of the Actuarial Science programme at the University of Essex are well-prepared for careers in insurance companies, consultancy firms, pension funds, government agencies, and related fields. They also have a solid foundation for progressing through the actuarial qualification process, which can lead to professional status and higher earning potential. The university offers academic support, career services, and networking opportunities to enhance student development and employability after graduation.