Heriot Watt University UK United Kingdom

Actuarial Science and Management

Integrated Masters with deeper specialization and research focus
Taught in English
Duration 2 Years
Mode On Campus
Level Postgraduate
Degree Masters Degree
Closing soon September 2026

Course Overview

The Heriot Watt University UK's Actuarial Science and Management Masters Degree is designed for ambitious individuals seeking to build a robust career in risk management and financial analysis. This postgraduate programme equips you with the advanced quantitative skills and strategic business understanding essential for navigating the complexities of the insurance and finance industries. You will delve into core actuarial disciplines, including financial mathematics, life insurance, and risk theory, preparing you to tackle real-world challenges with confidence and analytical precision. This course is ideal for those with a strong quantitative background aiming for professional actuarial qualification.

This full-time, on-campus Masters programme is delivered over two years, integrating theoretical knowledge with practical application through a structured curriculum. You will progress through mandatory and optional courses, gaining exemptions from key Institute and Faculty of Actuaries subjects, and developing expertise in areas like actuarial risk management and quantitative risk analysis. The second year offers specialized pathways, including machine learning for risk and insurance, culminating in a significant project or case study. You will graduate with the comprehensive skill set and industry recognition needed to pursue rewarding careers as actuaries in insurance, pensions, investment, and beyond.

Course Curriculum & Details

Detailed information for serious evaluators

Program Overview

This program provides a comprehensive introduction to the field of actuarial science and management. Students will explore fundamental concepts in financial mathematics and delve into the intricacies of life insurance mathematics across multiple semesters. The curriculum also covers essential aspects of actuarial risk management, equipping students with the knowledge and skills necessary for a career in this specialized domain.

1 SEMESTER 1

Financial Mathematics Compulsory
Life Insurance Mathematics 1 Compulsory

2 SEMESTER 2

Life Insurance Mathematics 2 Compulsory

3 SEMESTER 1

Actuarial Risk Management 1 Compulsory

4 SEMESTER 2

Actuarial Risk Management 2 Compulsory

Cost & Affordability

A clear picture of what this course will cost you

Program Costs

12% off
First Year Fee Tuition fee
USD 30,844.00 USD 34,884.00
Second Year Fee Tuition fee
USD 34,884.00
Total Program Cost Estimated total tuition
USD 65,729.00 USD 69,769.00

Currency note: Program costs shown in USD based on the available tuition breakdown.

Living Costs

Accommodation
USD 503.00 - USD 2,667.00
Food & Groceries USD 4,833.00 - USD 6,444.00
Transport USD 967.00 - USD 1,128.00
Utilities & Bills USD 2,417.00 - USD 6,847.00
Estimated Total USD 8,217.00 - USD 14,419.00

Living cost estimates are based on Edinburgh Campus.

Outcomes & Employability

What happens after you graduate

84%
Graduate Employment Rate Within 6 to 12 months of graduation

Common Graduate Roles

Aviation Safety & RegulationDefense & Military AviationEnvironmental & Sustainability ServicesFinancial Technology (Fintech)Food Safety & Quality AssuranceIndustry 4.0 & Digital ManufacturingNuclear EnergyOil & Gas Exploration & ProductionSupply Chain & Food LogisticsTax & Legal Compliance

Top Employers Hiring for this course

Aviva

Deloitte

EY

Leornado

Lloyds Banking Group

NatWest Group

SLB

Sainsbury's

Why Study Actuarial Science and Management at Heriot Watt University UK

What makes this program stand out

September 2026 Closing soon

Next intake is in September 2026

Life at Heriot Watt University UK in United Kingdom

What daily life looks like for international students

Language

English

Primary language everywhere

Climate

Mild & Rainy

10-20°C average, pack layers

Safety (Numbeo Safety Index)

Very Safe

Exeter is one of UK's safest cities

Frequently Asked Questions

Common questions about Actuarial Science and Management at Heriot Watt University UK

Can I work while studying?

International students in degree courses can work up to 20 hours per week during term time and full-time during breaks. No separate work permit is needed.

Is this qualification recognised internationally?

Yes. This course is accredited by The Institute and Faculty of Actuaries.

What English language score do I need for this course?

To meet the English language requirements, you must achieve specific scores in tests such as TOEFL, IELTS, or PTE. For example, a minimum overall TOEFL score of 79, with no section below a certain score, is required.

What jobs can I get after studying this course?

Possible job titles include Actuary, Risk Analyst, Data Scientist, Pension Consultant, and Insurance Underwriter.

What will I actually study in this course?

You've completed a degree that shows you think logically (eg mathematics). But now you want an excellent career with an excellent salary and a great work life balance. Our MSc in Actuarial Science and Management gets you there in only 2 years.

Actuaries are professionals with expertise in risk management and this is usually applied in the world of insurance. Our MSc in Actuarial Science and Management takes you through the required exams almost to the point of qualification with

When can I start — what are the intake months?

The MSc in Actuarial Science and Management program starts in September. Ensure you have completed your application before the intake date.
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