Actuarial Science

Actuarial science is the application of mathematics, statistics, and probability theory to the assessment and management of financial risk. It is the discipline that underlies the insurance industry, pension funds, and the long-term financial planning of major organisations, asking questions such as: how likely is a particular event to occur, what would it cost when it does, and how should an organisation price, reserve for, and manage that risk over time? It is an intellectually demanding discipline that rewards precision, sustained analytical thinking, and the ability to translate complex mathematical reasoning into practical decisions.

This three-year full-time programme at City St George's, University of London includes both a sandwich year and a work placement, giving you significant professional experience within the degree. City's location in London, adjacent to the insurance market at Lloyd's and the financial institutions of the City, means industry connections are strong and placement opportunities are genuinely varied. You will study probability and statistics, financial mathematics, economics, insurance principles, life and general insurance products, pensions, and the regulatory and professional frameworks that govern actuarial work.

The programme is designed to align with the examination structure of the Institute and Faculty of Actuaries, so the degree can contribute toward professional exemptions and accelerate your progression through the actuarial qualification process.

Actuarial science graduates are among the most highly paid in the UK, and the profession consistently features on lists of sought-after careers. Roles include actuarial analyst, pricing actuary, reserving actuary, and risk manager, working in insurance companies, pension consultancies, investment management firms, and regulatory bodies. Many graduates go on to qualify as Fellows of the Institute and Faculty of Actuaries, a process that takes several years of professional examinations and work experience.

The analytical rigour of the degree also opens routes into financial risk management, quantitative finance, and related fields.