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  1. Home
  2. Postgraduate
  3. Postgraduate Taught Courses
  4. School of Mathematics and Computer Science Postgraduate Taught Courses
  5. Mathematics postgraduate taught courses
  6. Actuarial Science, MSc

Actuarial Science, MSc

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  • September 2025

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Key Course Details

MSc 1 Year Full Time
Mode of Study
Campus Based
Typical Offer (view equivalents)
2:2
Location
Bay Campus
Start Date Tuition Fees
Sep 2025 £ 11,900
MSc 2 Year Part Time
Mode of Study
Campus Based
Typical Offer (view equivalents)
2:2
Location
Bay Campus
Start Date Tuition Fees - Year 1
Sep 2025 £ 5,950
MSc 1 Year Full Time
Mode of Study
Campus Based
Typical Offer
2:2 - More Information
Location
Bay Campus
Start Date Tuition Fees
Sep 2025 £ 26,000
MSc 2 Year Part Time
Mode of Study
Campus Based
Typical Offer
2:2 - More Information
Location
Bay Campus
Start Date Tuition Fees - Year 1
Sep 2025 £ 13,000

Up to 3 professional exam exemptions with this course

Accredited by the Institute and Faculty of Actuaries

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        • Maths & Computing for Finance, MSc
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        • MSc Actuarial Science
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Course Overview

An actuary is a business professional who applies mathematics and statistics to assess risk in a wide variety of contexts ranging from insurance and banking to health and government planning.

The MSc in Actuarial Science is designed to give graduates from numerate disciplines a grounding in the mathematical and statistical theories needed to become a qualified actuary.

You will gain key marketable skills in applying mathematics and statistics to the modelling of actuarial problems. This programme is accredited by the professional body for actuaries in the UK (the Institute and Faculty of Actuaries), and successful graduates will gain exemptions from up to three professional examinations.

Why Actuarial Science at Swansea?

  • Top 201-250 in the World in Mathematics (QS World University Rankings 2025) 
  • World-class facilities for mathematical and computational sciences
  • 100% of publications are world-leading and internationally excellent - Research Excellence Framework (REF) 2021

Your Actuarial Science Experience

In the first part of the course you will study a wide range of modules covering topics in actuarial mathematics and statistics. In the second part you will complete a significant dissertation project.

Over the course of your studies you will be assessed by a combination of written examinations, coursework and the dissertation.

Your studies will be supported by facilities including the main university library - containing an extensive collection of mathematics resources, and Digital Services.

Also available to you is the Reading Room in the centre of the department. This is home to the departmental library and a suite of computers.

Actuarial Science Employment Opportunities

The career of an actuary is regularly voted among the top three job choices based on intellectual stimulation, impact, and financial reward. Resources are available at https://actuaries.org.uk/qualify/become-an-actuary concerning opportunities for actuaries and the path toward becoming an actuary.

A Swansea MSc graduate with exemption from several IFoA professional examinations and a significant dissertation project has a distinct competitive advantage to begin an actuarial career in insurance, risk management, or investment and finance.  You might start with a role in financial modelling and statistical interpretation then progress steadily toward becoming a technical leader and business manager.

Modules

You will study a selection of compulsory modules and as you progress through your course you will have more flexibility to study the topics that interest you.

Modules

Year 1 (Level 7T)

FHEQ 7 Taught Masters / PGDip / PGCert

Students choose 180 credits from the following:

Compulsory Modules
Module NameModule DurationCreditsModule Code
Actuarial Science Masters DissertationSeptember-June (TB1+2)60MA-D01
Cashflows and Interest RatesSeptember-January (TB1)15MA-M45
Probability and Statistics for FinanceSeptember-January (TB1)15MA-M49
Markov Processes and ApplicationsSeptember-January (TB1)15MA-M64
Machine LearningJanuary-June (TB2)15MA-M08
Assurance and AnnuityJanuary-June (TB2)15MA-M46
Risk and Survival ModelsJanuary-June (TB2)15MA-M65
Optional Modules

Choose Exactly 30 credits from the following Modules:

Options 
Module NameModule DurationCreditsModule CodeGuidance
Financial Mathematics in Discrete TimeSeptember-January (TB1)15MA-M58
Principles of International FinanceSeptember-January (TB1)15MN-M002
Financial Mathematics in Continuous TimeJanuary-June (TB2)15MA-M59
BiomathematicsJanuary-June (TB2)15MA-M73

2 Year Part Time

Sorry - we don't currently have information about modules for this course type

Entry Requirements

A 2:2 Honours degree or equivalent in Mathematics, Computer Science, Engineering, Physics, Economics or other numerate degree with significant mathematical/statistical content. Applicants whose first degree is not Mathematics will be considered on an individual basis taking into account the mathematical content of their first degree.

IELTS 6.0 (with a minimum of 5.5 in each component) or equivalent English test.

How You're Taught

On the course you will be assessed by a combination of written examinations, coursework and a Dissertation.

Welsh Provision

Some provision

There are opportunities for Welsh speakers to study some elements of this postgraduate course through the medium of Welsh but there is not yet enough provision to reach 40 credits in each year. The Programme Director can outline to you what is available in Welsh.

Academi Hywel Teifi is here to support you throughout your time at Swansea University. We can offer you:

  • Access to generous Welsh-language study scholarships or bursaries.
  • Access to the Arwain mobile app for the latest information about Welsh-medium courses and modules available to download free on the App Store and Google Play.
  • An interview through the medium of Welsh when applying for a place.
  • Personal correspondence in Welsh, English or bilingually.
  • The option to create and submit your coursework or sit exams through the medium of Welsh (even if you have chosen to study in English), and your work will be assessed in Welsh.
  • A Welsh-speaking Personal Tutor.
  • One-to-one support to improve your academic Welsh language skills.
  • An opportunity to gain an additional free qualification that serves as evidence of your Welsh language ability for future employers.
  • Membership of the Swansea University Branch of the Coleg Cymraeg Cenedlaethol.

Visit the Welsh Language Rights webpage for further information about Students' Welsh Language Rights.

Continuing to study through the medium of Welsh will be:

  • a natural step for you if you have studied through the medium of Welsh at undergraduate level.
  • a way of maximizing your chances of getting the best education.
  • a way of receiving a high level of support as the study groups are smaller.
  • a valuable addition to your CV and career development.

Professional Body Accreditation

The Swansea University Actuarial Science programme is accredited by the Institute and Faculty of Actuaries (IFoA), so the successful MSc graduate can gain exemptions for up to three IFoA professional exams.

Meet Your Lecturers

You will be taught by our leading academic staff working in areas which include stochastics, algebra, topology, biomathematics, partial differential equations and mathematics education, to name a few.

Our Mathematics department is actively contributing to the United Nations Sustainable Development Goals through world-leading research, in areas such as cancer research, further mathematics in schools and mathematical and statistical modelling.

Professor Elaine Crooks Head of the School of Mathematics and Computer Science

Professor Vitaly Moroz Head of Department

Dr Kristian Evans Programme Director

Dr Chenggui Yuan Admissions Tutor (Postgraduate Taught Schemes)

See all Mathematics staff

Tuition Fees

MSc 1 Year Full Time

Start Date UK International
September 2024 £ 11,350 £ 24,750
September 2025 £ 11,900 £ 26,000

MSc 2 Year Part Time

Start Date UK International
September 2024 £ 5,700 £ 12,400
September 2025 £ 5,950 £ 13,000

Tuition fees for years of study after your first year are subject to an increase of 3%.

You can find further information of your fee costs on our tuition fees page.

You may be eligible for funding to help support your study. To find out about scholarships, bursaries and other funding opportunities that are available please visit the University's scholarships and bursaries page.

International students and part-time study: It may be possible for some students to study part-time under the Student Visa route. However, this is dependent on factors relating to the course and your individual situation. It may also be possible to study with us if you are already in the UK under a different visa category (e.g. Tier 1 or 2, PBS Dependant, ILR etc.). Please visit the University information on Visas and Immigration for further guidance and support.

Current students: You can find further information of your fee costs on our tuition fees page.

Funding and Scholarships

You may be eligible for funding to help support your study.

If you're a UK or EU student starting a master’s degree at Swansea University, you may be eligible to apply for Government funding to help towards the cost of your studies. To find out more, please visit our postgraduate loans page.

To find out about scholarships, bursaries and other funding opportunities that are available please visit the University's scholarships and bursaries page.

Academi Hywel Teifi at Swansea University and the Coleg Cymraeg Cenedlaethol offer a number of generous scholarships and bursaries for students who wish to study through the medium of Welsh or bilingually. For further information about the opportunities available to you, visit the Academi Hywel Teifi Scholarships and Bursaries page.

 

Additional Costs

Access to your own digital device/the appropriate IT kit will be essential during your time studying at Swansea University. Access to wifi in your accommodation will also be essential to allow you to fully engage with your programme. See our dedicated webpages for further guidance on suitable devices to purchase, and for a full guide on getting your device set up.

You may face additional costs while at university, including (but not limited to):

  • Travel to and from campus
  • Printing, photocopying, binding, stationery and equipment costs (e.g. USB sticks)
  • Purchase of books or texts
  • Gowns for graduation ceremonies

Careers and Employability

Swansea Employability Academy (SEA) will support you at each stage of your career journey helping you build a bright future.

Our career support services include:

  • Employability workshops, employers’ talks, bespoke events and careers fairs
  • Individual advice and guidance from professionally qualified Careers Advisers
  • Help with finding jobs, internships, work placements and volunteering opportunities
  • Access to information resources on a wide range of career management topics
  • Funding to support student internship opportunities and Student Society/Club events.

We also provide help and advice for Swansea University Alumni up to two years after you graduate.

Academic Support

As well as subject specific support by college teaching staff and your personal tutor, the Centre for Academic Success provides courses, workshops and one-to-one support in areas such as:

  • Academic writing
  • Maths and statistics
  • Critical thinking
  • Time management
  • Digital skills
  • Presentation skills
  • Note taking
  • Revision, memory and exam techniques
  • English language skills (if English is not your first language).

In addition, if you have a Specific Learning Difficulty (SpLD), disability, mental health or medical condition, the Centre for Academic Success have Specialist Tutors to support your learning, working alongside the Disability Office and Wellbeing Service to support all your needs and requirements whilst studying at Swansea University.

Our lecturers operate an ‘open door’ policy so you can chat with them about any concerns you may be having. These do not have to be just course related; our academic staff are there to help you with anything at all during your time in Swansea.

Each course has a student rep. They are there to make sure that every student voice is heard. Their role is to listen and feedback on your opinions, attend regular meetings and make sure that the people who can make changes listen to the people who really matter - you!

We offer both a Personal Tutor and peer mentoring. All students on our undergraduate courses are assigned a Personal Tutor, who will offer you not only Academic Guidance, but advice on finding and accessing help with personal issues. Our Peer mentoring scheme is in place to help new students settle into university life here at Swansea. You will get a chance to talk to your mentor who can tell you about their experiences as a student and also chat about student life. The peer mentoring scheme is a great way to meet students and widen your friendship circle while at Swansea.

You can also get help with personal issues from our wide range of student support such as CampusLife, Inclusive Student Support Services and The Centre for Academic Success.

How to Apply

Please apply through the University’s Application system.

For further guidance please visit our how to apply for postgraduate study pages.

EU students - visa and immigration information is available and will be regularly updated on our information for EU students page.

Application Deadlines

We recommend that you submit your application to our courses as early as you can in advance of our application deadlines. Courses will close earlier than the application deadlines listed if all available places are filled. You can find further information on our Application Deadlines webpage.

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  • School of Mathematics and Computer Science Postgraduate Taught Courses
    • Computer Science postgraduate taught courses
    • Mathematics postgraduate taught courses
      • Maths & Computing for Finance, MSc
      • Mathematics, MSc
      • MSc Applied Data Science
      • MSc Actuarial Science
  • Medical School Postgraduate Taught Courses
  • School of Psychology Postgraduate Taught Courses
  • School of Social Sciences Postgraduate Taught Courses
  • Fast-track for current students
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