University of Amsterdam

Overview

The MSc track in Actuarial Science and Mathematical Finance at the University of Amsterdam is designed to furnish students with advanced analytical tools essential for pricing, reserving, and risk management in insurance and pension sectors. This one-year program integrates contemporary actuarial methodologies with principles of mathematical finance, preparing graduates for a variety of actuarial and risk management roles.

What you'll study

Format: Full-time study over one academic year (60 ECTS).

Core courses (indicative):

• Non-Life Insurance: Statistical Techniques and Data Analytics
• Risk Management for Insurers and Pensions
• Actuarial Science of Pensions and Ageing
• Financial Mathematics for Insurance
• Stochastic Calculus
• Asset Liability Management – Cases and Skills

Learning approach: The curriculum emphasizes a blend of theoretical knowledge and practical application, focusing on problem-solving, case studies, and quantitative modeling.

Assessment: Evaluation methods typically include written assignments, problem sets, and examinations, with formats varying by course.

Entry requirements

Applicants must possess a strong quantitative background and demonstrate the capability to manage an intensive mathematical curriculum.

Academic background

A relevant Bachelor’s or Master’s degree with a solid foundation in mathematics, such as Mathematics, Physics, Econometrics, or a closely related discipline, is required. Applicants should have completed coursework in:

• calculus
• linear algebra
• statistics
• probability theory

Familiarity with fundamental actuarial concepts, particularly:

• risk theory
• elementary life insurance

is also expected.

English language

Minimum English proficiency is required, with acceptable qualifications including:

• TOEFL iBT: minimum 92
• IELTS Academic: minimum 6.5 (overall)

Standardised tests (if required)

Some applicants may need to submit GRE or GMAT scores. Typical requirements may include:

• GRE Quantitative: 158
• GMAT: 640

Note: Requirements may vary based on prior education and application specifics—confirm the exact testing policy in the university’s admission guidelines.

Documents

• online application form
• official transcripts and degree certificate(s)
• proof of English proficiency (if applicable)
• curriculum vitae (if requested)
• any additional documents required by the programme (e.g., motivation statement)

Selection

The admission process is competitive, with decisions based on the applicant’s academic potential and ability to meet the rigorous demands of the program.

Career prospects

Graduates of the MSc in Actuarial Science and Mathematical Finance are well-prepared for careers in various sectors, including insurance, finance, and risk management. They can pursue roles such as actuaries, risk analysts, and financial consultants, contributing to organizations that manage financial risks and ensure regulatory compliance.