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Faculty of Sciences MA-ACTU

Master in Actuarial Science

Master in Actuarial Science

The 2024-2025 programme is subject to change. It is provided for information purposes only.

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  • Programme title
    Master in Actuarial Science
  • Programme mnemonic
    MA-ACTU
  • Programme organised by
    • Faculty of Sciences
  • Degree type
    Master 120 credits
  • Tier
    2nd cycle
  • Field and branch of study
    Sciences and technics/Sciences
  • Schedule type
    Daytime
  • Languages of instruction
    french
  • Theoretical programme duration
    2 years
  • Campus
    Plaine
  • Category / Topic
    Sciences and technics - Sciences
  • Jury President
    Griselda DEELSTRA
  • Jury Secretary
    Jennifer ALONSO GARCIA

Presentation

Details

General information

Degree type

Master 120 credits

Theoretical programme duration

2 years

Learning language(s)

french

Schedule type

Daytime

Campus

Plaine

Category(ies) - Topic(s)

Sciences and technics - Sciences

Organising faculty(s) and university(ies)
Infor-études

Contacts

+32 2 650 56 64

ma-actu@ulb.be

https://sciences.ulb.be/departement-mathematique

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Presentation

Actuaries are experts in risk management, analysing all kinds of risks that affect private individuals and businesses. Based on their analyses, they implement solutions to limit financial liability (insurance packages, social security schemes, etc.).

Mathematics is key to the profession. Actuaries combine scientific rigour in defining and quantifying risks with in-depth knowledge of financial and insurance markets. Strong analytical skills and creativity are also necessary to work in this profession. This actuarial science programme helps students develop all these skills. It requires a solid foundation in mathematics, especially in probability and statistics, as well as good knowledge of economics, law, and management.

Lectures (50%), exercises and seminars (15%), individual and group projects (20%), Master's dissertation (15%).

The programme was designed to strike a balance between theoretical knowledge of finance and insurance (lectures) and the methods used in the field (seminars, individual or group projects).

ULB's Master in Actuarial Science is one of only two such programmes in the Wallonia-Brussels Federation.

Graduates are officially entitled to join the Institute of Actuaries in Belgium (IA|BE), which confers international recognition for their qualification.

The Master programme has been designed to create a balance between theoretical knowledge and practical methods used in the field.
 

For students wishing to complete their training with an internship, the location of the ULB is ideal in Brussels where most financial institutions and insurance companies are located as Brussels hosts most of the financial institutions and insurance companies.

The « Prix P&V » rewards the best master thesis in actuarial sciences.

Collaboration and joint courses with KU Leuven and UC Louvain.

Students can apply to attend some courses from the actuarial programmes of UC Louvain and KU Leuven as elective courses.

The first year of the Master introduces students to general topics in insurance and to the stochastic modelling of risks in insurance and finance. Students may also be required to follow upgrade courses (‘cours de mise à niveau’), depending on each student's profile and previous studies or training. These courses will be determined by the president of the jury at the beginning of the academic year. They are intended to complete the student's knowledge of probability theory, statistics, computer science, mathematical optimisation, accounting, law, management, and economics.

During the second year of the Master, students complete their general education and follow specialised courses in life and non-life insurance, ALM for insurance companies, reinsurance, financing methods for pension systems, etc. They also complete a dissertation and may complete a work placement (optional), giving them a first contact with the profession.

Life insurance, non-life insurance, group insurance and pension funds, reinsurance, accounting and fiscality of insurers, risk management in insurance, financial theory, stochastic finance (60%)

Probability, stochastic processes, statistics, econometrics, computer science (25%)

Master thesis (15%)

Access conditions

Programme

The first year of the Master introduces students to general topics in insurance and to the stochastic modelling of risks in insurance and finance. Students may also be required to follow upgrade courses (‘cours de mise à niveau’), depending on each student's profile and previous studies or training. These courses will be determined by the president of the jury at the beginning of the academic year. They are intended to complete the student's knowledge of probability theory, statistics, computer science, mathematical optimisation, accounting, law, management, and economics.

During the second year of the Master, students complete their general education and follow specialised courses in life and non-life insurance, ALM for insurance companies, reinsurance, financing methods for pension systems, etc. They also complete a dissertation and may complete a work placement (optional), giving them a first contact with the profession.

Life insurance, non-life insurance, group insurance and pension funds, reinsurance, accounting and fiscality of insurers, risk management in insurance, financial theory, stochastic finance (55%)

Probability, stochastic processes, statistics, econometrics, computer science (25%)

Master's dissertation (20%)

Life insurance, non-life insurance, group insurance and pension funds, reinsurance, accounting and fiscality of insurers, risk management in insurance, financial theory, stochastic finance (60%)

Probability, stochastic processes, statistics, econometrics, computer science (25%)

Master thesis (15%)

What's next ?

Prospects

Insurance and reinsurance companies, banks and financial institutions, social security and pensions, consulting and supervision.

There are many opportunities on the labour market for actuaries, and demand still outweighs supply by a wide margin.

Insurance companies and reinsurance companies are, of course, the main employers.

But actuaries also work in banking and financial institutions, social security institutions, pension institutions, consulting firms, and supervising organisations. The high level of training provided by this Master programme generally leads, after some years, to decision-making and leading positions.