University of Leuven

Financial and Actuarial Engineering, M.Sc.

  • Application Deadline
  • 12 months
    Duration
  • Tuition
    3500
    Tuition (Year)
    3500
    Tuition (Year)
  • English
    Language
The Master of Financial and Actuarial Engineering programme provides students with up-to-date, sound and advanced financial, actuarial and statistical skills, aiming for university graduates interested in a career in risk management, financial and/or actuarial engineering within financial institutions.
  • Overview
  • Programme outline
  • Key facts
  • Admission requirements
  • Fees and funding

About

The Master of Financial and Actuarial Engineering programme from KU Leuven - University of Leuven 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 risk management, financial and/or actuarial engineering within financial institutions. 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.

Career perspectives

The programme addresses the rapidly-changing needs resulting from the accelerating globalisation of the banking and insurance sector. As such, it provides a sound basis for a career in various areas of risk management, financial and actuarial engineering and insurance. Most graduates find employment in insurance companies, whose financial stability depends on actuarial calculations (e.g. premiums, provisions, capital requirements, reinsurance policy).
As an expert in the field of risk and uncertainty, you can also play an important role in banking and finance. The increasing convergence between the insurance and financial markets as well as the use of mathematically based instruments, such as options and futures, offers excellent career prospects. Graduates are well placed to find employment in banks, pension funds, reinsurance companies, consulting and audit companies.

Programme Structure

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;

Audience

Prospective students should be interested in a career in the actuarial and/or financial sector. Given the quantitative nature of actuarial sciences and financial mathematics, a sound mathematical background and sufficient knowledge of probability theory, statistics and scientific computing is indispensable.

Detailed Programme Facts

  • Full-time duration 12 months
  • Study intensity Part-time, Full-time
    • Intensity Flexible
  • Credits
    60 ECTS
  • Languages
    • English
  • Delivery mode
    On Campus
  • More information Go To The Course Website
Check Your Qualification
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English Language Requirements

You only need to take one of these language tests:

  • Minimum required score: 7

    The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

    Take IELTS test
  • Minimum required score: 575

    The TOEFL – or Test OF English as a Foreign Language – offers a paper-based test (PBT). The final, overall PBT score ranges between 310 and 677, and is based on an average taken from the three test components (listening, structure, and reading). The writing part of this test is scored separately on a scale of 0-6. Read more about TOEFL (PBT).

  • Minimum required score: 90

    The TOEFL – or Test Of English as a Foreign Language – offers an internet-based test (iBT). The final, overall iBT score ranges between 0 and 120, and includes a scaled average from the four components (reading, listening, speaking, and writing). Read more about TOEFL (iBT).

Academic Requirements

PRIOR EDUCATION REQUIREMENTS

* Holders of one of the following degrees obtain direct admission to the program:

  • Master in de verzekeringen from the Faculty of Economics and Business at KU Leuven, Campus Leuven.

and

  • Master of Mathematics from a Flemish university

  • Master of Statistics from a Flemish university

  • Master of Physics from a Flemish university

  • Master of Business Engineering from a Flemish university

  • Master of Business Engineering: Information Systems Engineering, from a Flemish university

  • Master of Engineering Science (except Architecture) from a Flemish university

Tuition Fee Per Year

  • EUR 3500 International
  • EUR 3500 EU/EEA

Funding

EU - (INCOMING)
  • Central bilateral agreements - Grants for Phd students and staff
  • FWO Research Funding
  • DBOF - PhD Scholarships
  • F+ - Fellowships for incoming postdocs
  • AXA Research Fund
NON - EU (INCOMING)
  • Marc Vervenne Fund
  • Roger Dillemans Fund
  • Coimbra Group Scholarship Programme
  • Erasmus Mundus Partnerships
  • FWO Research Funding
  • Doctoral Scholarships in the framework of the Interfaculty Council for Development Cooperation
  • Travelling allowances for teaching staff and professors in the framework of the Interfaculty Council for Development Cooperation
  • Specialisation grants for researchers from developing countries
  • VLIR-UOS Scholarships for short training programme ITP (developing countries)
  • VLIR-UOS Scholarships for Master Programmes ICP (developing countries)
  • VLIR-UOS Scholarships for ICP PhD students
  • Science without Borders Brasil (2012-2014)
  • Belgian bilateral cooperation grants for study and training for nationals of partner countries
  • (Algeria - Benin - Bolivia - Burundi - DR Congo - Ecuador - Mali - Morocco -Mozambique - Niger – Palestinian Territory - Peru - Rwanda - Senegal -South Africa - Tanzania - Uganda – Vietnam)
  • DBOF - PhD Scholarships
  • F+ - Fellowships for incoming postdocs
  • Latin America Fund
  • EU-ALFA III (Latin-America)
  • EU-ACP (Africa, Carribean and Pacific)
  • EU-ASEM
  • EU-SARC (South Asia)
  • EU-SARC (South-East Asia)
  • EU – Central Asia
  • EU – ENPI (Neighbourhood and Russia)
  • Belgian Bilateral Scholarship Programme for Vietnamese students
  • China Scholarship Council Programme for Chinese students and scholars

StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

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