Faculty of Science - Actuarial Mathematics

Program description

Actuarial mathematics involves the application of mathematical disciplines, particularly probability, statistics, and risk theory, to real-life financial problems involving future uncertainty. This analytical approach helps people and organizations quantify and reduce financial risk in areas as diverse as life, health, disability, marine, property and casualty insurance; annuities; and pension and employee benefits plans.

Program options

Degree options

  • B.Sc. Bachelor of Science in Actuarial Mathematics (Honours) - 4 years
  • B.Sc. Bachelor of Science Joint Major in Statistics - Actuarial Mathematics (Honours) - 4 years

Interesting courses and unique opportunities

  • Actuarial Aspects of Investment Practice
  • Economic & Financial Applications
  • Life Insurance Products and Employee Benefit Plans
  • Introduction to Risk Management
  • Financial Derivatives for Actuarial Practice
  • Actuarial Modeling Methods
  • Managing Insurance Operations in the International Business Environment
  • Theory of Interest

Professional opportunities

  • Casualty insurers
  • Pension and employee benefits consultant
  • Educator
  • Researcher
  • Life and Health Insurers

The program prepares students for careers as professional actuaries or post-graduate studies leading to careers as professional actuaries or actuarial researchers.

Admission Requirements

Visit the Science Direct Entry (high school applicants) or Advanced Entry (post-secondary applicants) application for admission page to learn more about admission requirements, application dates and how to apply.

What is unique about this program at the U of M?

The Actuarial Mathematics under the Faculty of Science is an interdisciplinary program, which meets the minor requirements for Statistics, Mathematics, and Management with two additional business courses taken from Asper, covers all the leaning objectives of the first 5 professional examinations and qualifies for all three Validation of Educational Experience credits conducted by the Society of Actuaries. The curriculum under the Asper School of Business consists of a total of 120 credit hours including 17 business core (required) courses and a minimum of 4 actuarial major courses.

Important Links

Faculty of Science
Programs in Science
Graduate Programs