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Are you passionate about problem-solving? Do you enjoy maths? Studying an actuarial master's degree will prepare you for a high-flying career in one of the most rewarding industries.


Who is it for?

You are a part-qualified actuary or a graduate from a recognised BSc or MSc in Actuarial Science or any other recognised programme with an actuarial flavour. You have completed the equivalent of at least four subjects from the Core Principles stage of the professional examinations of the Institute and Faculty of Actuaries, including Subject CM1.

The MSc in Actuarial Management is intended for those of you who wish to undertake an in-depth study of actuarial science, insurance, finance and investment, both at a general level and in relation to specific practice areas, thereby extending your knowledge beyond the Core Principles stage and gaining exemptions from later professional examinations.

You will be taught and receive advice on study and exam techniques by qualified actuaries, academics and other subject-specialists with commercial experience and research expertise. Bayes Business School is currently ranked 1st in Europe for actuarial research according to the Top 50 UNL Global Research Rankings of Actuarial Science and Risk Management & Insurance.

Prior to studying MSc Actuarial Management, I worked for 3 years with PwC as a Senior Associate within their Risk Modelling Services. The course was very relevant to the actuarial skills used in the industry and offered hands on experience. I particularly liked the business analytics module  which was very challenging and provided the breadth needed for an actuary looking to divulge in new exciting areas. I am now a Senior Actuarial Analyst at Zurich Insurance and part of the P&C Actuarial Reserving Team, working on the IFRS 17 Project.

Siddhesh Surpatne


The MSc in Actuarial Management covers material relating to the second and third stages of the professional examinations of the Institute and Faculty of Actuaries, namely the Core Practice subjects and Specialist Principle subjects.

You can gain exemptions from the Institute and Faculty of Actuaries’ examinations, including Actuarial Practice (Subject CP1), Modelling Practice (Subject CP2), Communications Practice (Subject CP3) and the Specialist Principle Subjects SP1, SP2, SP4, SP5, SP6, SP7 and SP8. Possibilities for exemptions from the Core Principle Subjects CB1, CB2, CS2 are CM2 are also offered. Finally, you will be offered a collection of Business Analytics modules to select from as electives in the third term.


Bayes Business School is recognised as a Center of Actuarial Excellence (CAE) from the Society of Actuaries (SOA), one of the main actuarial professional bodies in the US. Together with our accreditation by the Institute and Faculty of Actuaries in the UK, this reinforces our establishment as a global hub for actuarial studies and intellectual capital development. Our courses are also recognised as preparing students for certain SOA actuarial exams.

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What will you learn

On the MSc Actuarial Management you will:

  • Demonstrate knowledge and understanding of the main areas of actuarial practice
  • Develop awareness of the general commercial environment
  • Apply actuarial, statistical, and related methods to assess and manage risk effectively
  • Communicate effectively with non-specialists in the area
  • Display the professional integrity, conduct and responsibility required by the actuarial profession.

Induction weeks

All of our MSc courses start with two compulsory induction weeks which include relevant refresher courses, pre-study programming modules, an introduction to the careers services and the annual careers fair.

Assessment methods


Assessment of modules in this programme, in most cases, is by means of coursework and unseen examination. Coursework may comprise computer-based components, unseen tests and problem sets, classwork, individual and group presentations, group reports and standard essays. Please note that group work will include an element of peer assessment in most cases.

Term dates

Term dates 2023/24

  • Induction: 11th September 2023 - 22nd September 2023
  • Term one: 25th September 2023 - 8th December 2023
  • Term one exams: 8th January 2024 - 19th January 2024
  • Term two: 22nd January 2024 - 5th April 2024
  • Term two exams: 22nd April 2024 - 3rd May 2024
  • Term three - international electives: 6th May 2024 - 17th May 2024
  • Term three: 20th May 2024 - 5th July 2024
  • Term three exams: 8th July 2024 - 19th July 2024
  • Resits: 12th August 2024 - 23rd August 2024
  • Additional resit week - tests only: 26th August 2024 - 30th August 2024.


Course timetables are normally available from July and can be accessed from our timetabling pages. These pages also provide timetables for the current academic year, though this information should be viewed as indicative and details may vary from year to year.

View academic timetables

Please note that all academic timetables are subject to change.

Teaching staff

Course Director

photo of Dr Ioannis Kyriakou

Dr Ioannis Kyriakou

Reader in Actuarial Finance

The teaching staff on the MSc in Actuarial Management have many years of practical experience working in the financial services sector and are also active researchers in their fields

This knowledge and experience helps to inform the highly interactive lectures that make up the MSc in Actuarial Management.

Module Leaders include:


How to apply

Apply for MSc Actuarial Management: Full-time

Apply for MSc Actuarial Management: Part-time

Documents required for decision-making

  • Transcript/interim transcript
  • Grading system used by your university
  • Current module list if still studying
  • CV
  • Confirmation of professional qualification examinations/exemptions/passes
    • If you are currently studying and will receive actuarial exemptions from your degree, please submit a document clarifying how exemptions are awarded on your degree (this information could be taken from your course handbook, for example).
  • Personal statement - this should be around 500 words in length and answer the following:
      • Why have you selected this course? What are your motivating factors?
      • What are your areas of interest within the course?
      • What contributions do you feel you can make to the course?
      • How do you see the course affecting your career plans?

Documents which may follow at a later date

  • English language test result, if applicable
  • Two references
  • Confirmation of your final Institute and Faculty of Actuaries exam passes/exemptions (if you are still studying)
  • For a successful application to receive an unconditional status, all award documents must be verified, and should be provided to the relevant Admissions Officer via one of the methods stated in your offer

We cannot comment on individual eligibility before you apply and we can only process your application once it is fully complete, with all requested information received.

Individual Appointments

If you would like to arrange an individual appointment to discuss the application process and be given a tour of the facilities, please complete this form.

Please note - these are subject to availability.

Terms and conditions

Students applying to study at Bayes Business School are subject to City, University of London's terms and conditions.

Entry requirements

  • A UK upper second class degree or above, or the equivalent from an overseas institution, in a related subject and already covered the fundamentals of actuarial science at university degree or professional level
  • Work experience is not a requirement of this course
  • Applicants are required to have passed and/or as a result of previous studies, be exempted from the equivalent of at least four of the Core Principles examinations of the Institute and Faculty of Actuaries (including Core Mathematics (CM1))*

*Excludes the Business Management (CB3) exam

Students who are new to the field of actuarial science should apply for the MSc in Actuarial Science (covering the Core Principles examinations of the Institute and Faculty of Actuaries).

English language requirements

If you have been studying in the UK for the last three years it is unlikely that you will have to take an English language test.

If you have studied in the UK at degree level for less than three years (e.g. 3+1, 2+1, 2+2, etc.) you will be required to provide the results of an approved English language test and possibly resit the test to meet our academic entry requirements.

Full list of approved English language tests/qualifications and minimum requirements.


UK/EU/International £23,500 Tuition fees are subject to annual change
UK/EU/International (part-time) £11,750 per annum Tuition fees are subject to annual change

Fees in each subsequent year of study (where applicable) will be subject to an annual increase of 2%. We will confirm any change to the annual tuition fee to you in writing prior to you commencing each subsequent year of study for continuing students (where applicable).

Deposit: £2,000 (usually paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met)

First installment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the induction period)
Second installment: Half fees (paid in January following start of course).

Information about Scholarships

Career pathways

Career destinations for MSc Actuarial Management

On your MSc in Actuarial Management you’ll learn the technical skills and problem-solving techniques for a successful and rewarding career as an actuary, in the fields of life and non-life insurance, health and care, pensions, finance and investment.

We have many qualified actuaries on our teaching staff with commercial experience and academics who maintain close links with the industry with many having worked, or still working, in their specialist sectors. Our graduates benefit from our contacts with numerous fantastic City firms, moving into positions in those firms every year.

Experts from our Careers Team will work with you to set you on a path that will fulfil your professional goals, and help you towards roles such as Actuarial Consultant, Senior Actuarial Analyst, Underwriter or Management Associate.

Class of 2021 Profile

Typical roles for 2021 graduates include:

  • Senior Actuarial Consultant,  Non Life Insurance - Zurich
  • Graduate Actuarial Consultant - KPMG
  • Pricing  Analyst, Pricing and Analytics - Esure
  • Senior Actuarial Analyst  - HSBC
  • Analyst - Willis Towers Watson

Alumni stories

Hana Drake
Hana Drake
Actuarial Management
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Hear from our alumni. Discover the real experiences of learning at Bayes and how Bayes helped to boost our graduates' careers.

Read Hana’s story

Course information and statistics (2022/23 cohort)

average age of student body
average years of work experience
nationalities in 22/23 cohort
Human brain
Introduced in 1999 and first academic programme in the world to offer exemptions from advanced-level professional actuarial exams