Location:

Leuven, Belgium

Program Type:

Study Abroad

Degree Level:

Undergraduate

Term:

Academic Year

Program Overview

Program Description:

The Master of Financial and Actuarial Engineering programme provides students with up-to-date, sound and advanced financial, actuarial and statistical skills. It is an intensive, advanced, one-year programme for university graduates interested in a career in the insurance sector. The discipline focuses on the application of quantitative methods to problems involving risk or uncertainty. You will gain an understanding of current and future problems and solutions in insurance and banking and be equipped with fundamental and conceptual knowledge of the mathematical and economic aspects of financial theory and insurance techniques. The programme provides advanced insights into the actuarial aspects of life insurance, general insurance and risk theory as well as financial mathematics and the inter-relationship and integration of actuarial sciences and finance. The programme draws on over sixty years of experience and international recognition. The research team for risk theory, finance and statistics has a strong research profile and is ranked among the world top in terms of actuarial research productivity. The programme is jointly offered by the Faculty of Business and Economics and the Faculty of Science at KU Leuven, in collaboration with Université Catholique de Louvain. This is an advanced Master's programme and can be followed on a full-time or part-time basis.

The main goal of the programme is to provide the students with an sound knowledge of finance and actuarial science. They develop the capabilities to understand current and future problems and solutions in the actuarial and financial context. They will be equipped with fundamental and conceptual knowledge of the mathematical and economic aspects of financial theory and insurance techniques. Graduates holding both the degree of Master of Financial and Actuarial Engineering and 'Master in de verzekeringen' (Dutch-language initial master at KU Leuven) are eligible for membership in the professional body of actuaries in Belgium (IA|BE), and the international actuarial professional body (IAA). At the end of the programme students will: - be equipped with fundamental and conceptual knowledge of the mathematical and economic aspects of financial theory and insurance techniques; - have advanced insights in the actuarial aspects of life insurance, general insurance, risk theory as well as in the interrelationship and integration of actuarial sciences and financial mathematics; - have a strong background in quantitative methods and financial models and will be able to select and apply those methods to problems that involve risk or uncertainty; - dispose of enhanced analytical, critical, conceptual, problem solving and decision making capabilities and skills; - have the ability to integrate actuarial, statistical and financial modelling techniques in order to arrive at effective solutions to problems occurring in insurance and financial practice; - be able to conduct research, not only in an academic context, but also in view of a professional career; - be able to stay up-to-date with the advances in actuarial sciences by following up and familiarizing with new insights, developments, results and methods; - be able to communicate and report adequately on financial and actuarial topics.

Setting Description:

Prospective students should be interested in a career in the actuarial and/or financial sector. Given the quantitative nature of actuarial sciences, a sound mathematical background and sufficient knowledge of probability theory, statistics and scientific computing is indispensable. In particular, prospective students must have mastered the topics and practical concepts covered in the following international textbooks: - Ross, S. (2009) A First Course in Probability. (8th edition). Prentice Hall. (Or a similar textbook appropriate for an undergraduate course in probability). - Ross, S.M. (2004). Introductory Statistics. Elsevier Academic Press. (Or a similar textbook appropriate for an undergraduate course in statistics). - Bowers, N.L; Gerber, H.U.; Hickman, J.C.; Jones, D.A.; Nesbitt, C.J. (1986). Actuarial Mathematics. The Society of Actuaries, Itacsa, Illiniois. Chapters 3,4,5,6 and 7. The curriculum is interdisciplinary and is designed for students with a background in either

Cost:

3500 EUR