Actuarial Science and Mathematical Finance

Actuarial Science and Mathematical Finance

Master degree
12 months
Application deadlines: 1 April
Intakes: September
International tuition: €14,950
Domestic tuition: €2,083

Program overview

The Master’s in Actuarial Science and Mathematical Finance (ASMF) is a stand-alone Master’s degree. The track Mathematical Finance is unique in that its courses incorporate all the latest international developments, such as financial and solvency risk management, regulation and supervision, big data, market-consistent pricing and sustainability of pension systems.

Study options

This program can be done
On campus


1. Academic Bachelor's degree Applicants are expected to hold an academic Bachelor’s or Master’s degree in a field that ensures a high level of mathematical proficiency (e.g. Mathematics, Physics or Econometrics), particularly in the fields of calculus, linear algebra, statistics and probability. Additionally, students are assumed to be familiar with the following topics: Linear regression models; Finance in economics; Actuarial science, in particular risk theory and elementary life insurance. Please note that a Bachelor's degree from a university of applied sciences or a Fachhochschule (Germany) will not be taken into consideration. Specific entry requirements apply to Chinese students and African students. 2. English language proficiency We require evidence of English proficiency TOEFL IBT: 92, at least 22 on each sub-score (TOEFL institution code: 9011) IELTS Academic: 6.5, at least 6 on each sub-score Cambridge Assessment English: Certificate in Advanced English: 170 Points Overall and in each skill Certificate of Proficiency in English: 170 Points Overall and in each skill 3. GRE All applicants need to take a GRE test before the application deadline in order to be considered for this programme. So please start planning your test date on time. While taking the test is mandatory, there is no required minimum score, only a recommended minimum score. Even if you do not achieve the recommended score, the remainder of your application will still be assessed. Completion of all sections is required. (specify sections) There is a minimum recommended score of 155 for the Quantitative Reasoning section. GMAT In place of a GRE, a GMAT test score may be accepted in the following cases: if you have already obtained a GMAT score if in your country it is difficult to take the GRE test on a short notice (e.g. China, Taiwan). Completion of all sections required. (specify sections) There is a minimum recommended overall score of 600. 4. Motivation and initiative Applicants are expected to have the intrinsic motivation to test and build upon this knowledge. Coursework is designed in keeping with this expectation and demands significant personal initiative and an active contribution on the part of the student. Applicants are asked to upload a motivation letter and CV in their online application. 5. Academic Referee Applicants are expected to invite at least one academic referee to submit their reference online. In the online application you need to fill out the contact details of the referee. Please make sure that your referee has agreed to write a recommendation before you register the referee's details. Your references should refer to your academic experience (e.g. coming from a former teacher).

Career opportunities

The actuarial profession is currently one of highest rewarding on the labour market. In recent years, the mathematical and specialist modelling skills of the actuary have also seen increasing demand from companies outside the insurance world. The general track in Actuarial Science and Mathematical Finance provides a good foundation for continuing into a PhD programme and by following our excellent APC Post-master programme, you may also qualify for membership of the Royal Dutch Actuarial Society. ASMF graduates can be found in a wide variety of organisations, including: insurance companies; ​pension funds; investment and retail banks; consultancy firms; corporates; regulatory authorities; government institutions.