Applied Actuarial Science with an Industrial Placement

Actuaries assess and manage financial risk, applying advanced mathematical and statistical methods to solve complex financial problems. By qualifying as an actuary, individuals can pursue careers across various sectors, including insurance, investment, pensions, healthcare, and banking, both in the UK and internationally.

Accreditation  

Students who perform well in their coursework may gain exemptions from professional examinations required in the actuarial field. Depending on their chosen modules, MSc in Applied Actuarial Science students could be eligible for exemptions from specific Institute and Faculty of Actuaries exams, including CP1, CP2, CP3, SP2, SP5, SP7, SP8, and SP9. Kent's programme, one of the few in the UK to offer actuarial science, stands out for its blend of theoretical and practical expertise, with a faculty consisting of professional actuaries and specialized researchers.

Your Placement

Placements last for 12 months, starting in June/July of the Summer Term. Placements can be taken either in the UK or abroad, but securing one is not guaranteed. If a placement is not obtained, students will continue with the MSc programme without it.

Centre for Actuarial Science, Risk and Investment  

Founded in 2010, the Centre for Actuarial Science, Risk and Investment (CASRI) is part of the School of Mathematics, Statistics and Actuarial Science. It focuses on research in three key areas: economic capital and financial risk management, longevity risk modelling, and the public policy aspects of insurance risk classification. CASRI’s research maintains a balance between theoretical and applied studies, addressing social policy implications. The group has strong ties with the Institute and Faculty of Actuaries and other global educational institutions.

Modules  

The course follows a ‘core modules plus options’ structure, with opportunities to gain professional exemptions. A total of 180 credits must be completed to pass the MSc. If fewer than 180 credits are earned, students may be eligible for a Postgraduate Diploma in Applied Actuarial Science.

The placement comprises two modules: Industrial Placement Experience (pass/fail) and Industrial Placement Report (graded). 

Assessment Method  

Assessment is generally a mix of coursework and examination, with varying weightings per module.

Continuation to Industrial Placement  

Admission to the Industrial Placement is contingent on satisfactory progress in the taught components, with a required standard set by the interim examination board in June. Students with more than 30 credits of resits after the August exam session may need to retake credits before starting their placement.

To earn an MSc with an Industrial Placement, students must meet the requirements for the MSc without a placement and pass both placement modules. Alternative awards (PDip and PCert with an Industrial Placement) follow similar criteria.