Masters in Actuarial Science in Ireland

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Highlights of Studying MSc in Actuarial Science in Ireland

  • Deloitte Global predicts the number of finance related jobs will double by 2020.

  • Jobs for Actuarial Profession is expected to be 4500 by 2020 - Glassdoor.

  • Top employers include Aegon, Metlife, Irish Life, Mercer, Zurich.

  • After Brexit, financial services companies of UK are expected to settle in Dublin.

  • Upto 3 programs by 3 top institutions.

  • Upto 50% scholarships.

  • 2 years of post-study work permit.

  • Actuarial Science is a part of Critical Skills Occupations List.

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MSc in Actuarial Science in Ireland

Insurance can be a bang for someone looking for a career that calls for analyzing data, working with statistics and using mathematical skills to assess or predict the probability of an event happening and its financial consequences. The decisions of an employee with an MSc in Actuarial Science in Ireland can affect thousands of people so it is a well-paid job, with a lot of responsibility. Wherever there is a risk, there are opportunities for graduates of Masters in Actuarial Science in Ireland. MS in Actuarial Science in Ireland is aimed at students from numerate disciplines who ultimately wish to train as an actuary upon completion of the programme. Students will be supported through the initial examination of the Institute and Faculty of Actuaries (UK), thereby placing the graduates of Masters in Insurance in Ireland on a fast track to a career as a qualified actuary. Employers in the pensions, insurance industries, financial services generally look out for MSc in Insurance in Ireland.

In addition to the core actuarial subjects that predominantly make up the MSc in Actuarial Science in Ireland programme of study, you will additionally have access to relevant subjects from the wider discipline of statistics and actuarial science where appropriate, broadening their education to meet the growing demands of big data that are set to shape the actuarial landscape in the years ahead. Masters in Actuarial Science in Ireland is designed for graduates of quantitative disciplines who want to kick-start a career in insurance or actuary. MS in Actuarial Science in Ireland provides a solid foundation in statistics, financial mathematics, economics and business finance. Upon completion of the course, your knowledge and skills could be applied to a range of industries in the financial services such as insurance, pensions, healthcare, banking, investment and risk assessment. Top insurance masters in Ireland will equip you with mathematical and statistical knowledge and problem-solving skills to help businesses and institutions evaluate the long-term financial implications of the decisions they make. You will also have the opportunity to undertake a minor dissertation involving the study of a number of problems specific to the insurance and financial sector after Masters in Insurance in Ireland.



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Masters in Actuarial Science in Ireland

Top courses for MSc in Actuarial Science in Ireland will equip you with mathematical and statistical knowledge and problem-solving skills to help businesses and institutions evaluate the long-term financial implications of the decisions they make. You will also have the opportunity to undertake a minor dissertation involving the study of a number of problems specific to the insurance and financial sector. The Institute and Faculty of Actuaries has approved programme-level exemption status for the MSc in Actuarial Science in Ireland. Students may be recommended for exemption from the professional examinations for actuaries in up to 7 of these Core Technical subjects by performing sufficiently well in the corresponding examinations of the Masters in Actuarial Science in Ireland.

Insurance has started showing signs of improvement in Ireland. Demand for experienced insurance professionals who have done their MSc in Actuarial Science in Ireland is increasing, proving that the industry is coming out of the recession. Consulting firms are building their Actuarial teams as they recognize the importance of these professions from both an audit and consulting perspective. Despite a mixed General Insurance market performance, insurers are looking to grow and diversify their books of business and experienced Underwriters with exposure to various product lines and a strong broker network are in high demand. They are also looking to build their sales and claims teams and this is even more apparent amongst the large brokers who are hiring in Personal & Commercial lines, while also expanding their claims teams.

Actuarial Science Courses in Ireland

Insurance has started showing signs of improvement in Ireland. Demand for experienced insurance professionals who have done their MSc in Actuarial Science in Ireland is increasing, proving that the industry is coming out of the recession. Consulting firms are building their Actuarial teams as they recognize the importance of these professions from both an audit and consulting perspective. Despite a mixed General Insurance market performance, insurers are looking to grow and diversify their books of business and experienced underwriters with exposure to various product lines and a strong broker network are in high demand who have experience through the top courses in Actuarial Sciences in Ireland. The best courses for Actuarial Sciences in Ireland help you with your skill development and provides you with the required experiences.

Below is a list of courses for Actuarial Science in Ireland.

Top Universities for MSc in Actuarial Science in Ireland

Courses for Actuarial Science in Ireland

University College Cork MSc in Actuarial Science
University College Dublin MSc in Actuarial Science
University of Limerick MSc in Risk Management and Insurance


Top Universities for MSc in Actuarial Science in Ireland

From the top Universities for MSc in Actuarial Science in Ireland, you can gain unparalleled knowledge and understanding of Insurance and its derivatives. After the completion of the course from the best universities for MSc in Actuarial Science in Ireland, you can be sure of not only getting a job back in your hometown but you can increase the chances of staying back in Ireland to work. Also, many students are motivated, equipped with the skills to begin their own company after they finish their course from the best Universities for Masters in Actuarial Science in Ireland. MSc in Actuarial Science in Ireland is designed for graduates of quantitative disciplines who want to kick-start a career in Actuarial Science from Top Universities for Masters in Actuarial Science in Ireland. It provides a solid foundation in statistics, financial mathematics, economics and business finance. Upon completion of the course from best Universities for Masters in Insurance in Ireland, your knowledge and skills could be applied to a range of industries in the financial services such as insurance, pensions, healthcare, banking, investment and risk assessment.

Below is the list of universities for MSc in Actuarial Science in Ireland

  • University College Cork
  • University College Dublin
  • University of Limerick

Entry Requirement for Master's in Actuarial Science in Ireland

As an entry requirement for MSc in Actuarial Science in Ireland, you must hold a bachelor's degree in business-related courses or have a relevant work experience. The Entry requirement for Actuarial Science in Ireland doesn't vary much. Usually the admission requirement for master's in Actuarial Science in Ireland is a bachelor's degree in business, commerce, marketing, psychology, finance, economics, social science or mathematics or a related area with a score of 70% or higher can get you admit in the top universities for actuarial science in Ireland or you can also get an admit if you have a primary degree with a minimum of three years work experience in an actuarial role. This is the admission requirement for MSc in Actuarial Science in Ireland. Work experience can be added for a better chance in getting an admit as one of the entry requirements for MSc in Insurance in Ireland. Therefore, having a relevant work experience is an added advantage for Masters in Actuarial Science in Ireland. Universities accept a maximum of 5 backlogs nothing above that in your bachelor's programme.

Top Universities for MSc in Actuarial Science in Ireland

Entry Requirement for Masters in Actuarial Science in Ireland (Percentage or CGPA)

University College Cork 60% or 6.0 CGPA
University College Dublin 65% or 6.5 CGPA
University of Limerick 60% or 6.0 CGPA


English Language Requirement for MSc in Actuarial Science in Ireland

English Language Test is a mandatory entry requirement for MSc in Actuarial Science in Ireland. Attaining a certain band score in the English Language Tests that constitutes the four sections of reading, writing, listening and speaking is a crucial Entry requirement for Masters in Actuarial Science in Ireland. Universities have their own English Language Requirement for MSc in Actuarial Science in Ireland. The table below shows the minimum English language scores for MSc in Actuarial Science in Ireland.

Test

University

IELTS 6.5
TOEFL 90
PTE 63


IELTS Requirements for MSc in Actuarial Science in Ireland

To secure a non conditional offer letter from the university of study, one requires a mandatory qualification in one of the three English Language Tests. IELTS score for Actuarial Sciences courses in Ireland is a basic requirement as it one of the most common Language Test for its ease of understanding and popularity. Start preparing for your IELTS test once you have decided to take up Master's in Actuarial Science in Ireland. The exam would be an easy one. It tests your reading, writing, speaking and listening skills in the English language. The minimum IELTS requirement for MSc in Actuarial Science in Ireland is an overall band score of 6.5 with no section less than 6.0. Universities have IELTS requirement for Masters in Actuarial Sciences in Ireland to be an overall band score of 6.5 and no institute of technology or colleges offer this course. IELTS Score for MSc in Actuarial Science in Ireland is as follows:

Top Universities for MSc in Actuarial Science in Ireland

IELTS Requirement for Masters in Actuarial Science in Ireland

University College Cork 6.5 with no section below 6
University College Dublin 6.5 with no section below 6
University of Limerick 6.5 with no section below 6


TOEFL requirements for MSc in Actuarial Science in Ireland.

For an admit in MSc in Actuarial Sciences in Ireland, TOEFL requirements for MSc in Actuarial Sciences in Ireland are similar and are also considered like IELTS and PTE. The minimum TOEFL score for MSc in Actuarial Science in Ireland is 90. The minimum TOEFL requirement for MSc in Actuarial Science in Ireland is 90 in Universities with specific band requirements. TOEFL scores for MSc in Actuarial Science in Ireland is as follows:

Top Universities for MSc in Actuarial Science in Ireland

TOEFL Requirement for Masters in Actuarial Science in Ireland

University College Cork 90 (20 in listening & writing, 19 in reading & 21 in speaking)
University College Dublin 90 with 20 in all sections
University of Limerick 90


PTE Requirements for MSc in Actuarial Science in Ireland

Pearson Test of English is an English Language Test that students take up to do Master's in Actuarial Science in Ireland. The evaluation is based on 4 sections namely reading, writing, listening and speaking skills for an admit as the PTE requirement for MSc in Actuarial Science in Ireland. PTE requirements for Masters in Actuarial Science in Ireland is a minimum score of 63. PTE requirements for MS in Actuarial Science in Ireland is the same for all the universities that offer the course. The PTE score for MSc in Actuarial Science in Ireland is as follows:

Top Universities for MSc in Actuarial Science in Ireland

PTE Requirement for Masters in Actuarial Science in Ireland

University College Cork 63 with no section below 59
University College Dublin 63 with no section below 59
University of Limerick 63 with no section below 59


Tuition fees for Master's in Actuarial Science in Ireland

The average tuition fees for MSc in Actuarial Science in Ireland starts from €13,814 depending on the university that you choose to study. The tuition fee for Masters in Actuarial Science in Ireland ranges from €13,814 to €21,800. To do an MS in Actuarial Science in Ireland, the average cost for Master's in Actuarial Science in Ireland is €17,880.

Top Universities for MSc in Actuarial Science in Ireland

Tuition Fee for Masters in Actuarial Science in Ireland

University College Cork € 18,000
University College Dublin € 21,800
University of Limerick € 13,814


Scholarships for Masters in Actuarial Science in Ireland

Universities in Ireland offer scholarships to students who are meritorious. This holds good for the Masters in Actuarial Science in Ireland as well. There are 3 Scholarships for MSc in Actuarial Science in Ireland which offer half tuition fee waiver. Scholarship for Masters in Actuarial Science in Ireland can be availed by any student so do not fail to grab this opportunity. Universities do a lot of screening while offering Scholarships for MSc in Actuarial Science in Ireland so make sure you fulfil the requirements as stated in the regulations. The list of scholarships for Masters in Actuarial Science in Ireland is given below:

  • 50% Tuition Fee Waiver- MSc Merit Based Scholarship for International Students
  •  50% Tuition Fee Waiver - Indian Academic Excellence Scholarship for Smurfit
  •  50% Tuition Fee Waiver - MSc Merit Based Scholarships for International Students


Salary of Actuary Officers in Ireland

As a trainee, you can earn €40,000 per year but the salary after MSc Actuarial science for a Graduate/fresher is €64,000.

Top 10 Companies for Actuarial Risk Analysts


  • KPMG
  • Allianz Ireland
  • PwC
  • Bank of Ireland
  • Deloitte
  • Citco
  • Aviva
  • Willis Towers Watson
  • Azon
  • Metlife

Career Opportunities For MSc Actuarial Science in Ireland

A professional who provides specialized guidance and advice for investment in various insurance schemes is an insurance advisor or insurance consultant.

There is a stipulated fee or charge levied on the customer/ investor for the services offered by the advisor who is required to have a license for the practice of the same or the concerned qualification in this field. He is alternatively also known as insurance consultant.

An insurance advisor performs a number of functions such as intermediation, sales and other services for various transactions, compliance management, consulting or advisory role.

Actuary

An Actuary is someone that analyses data and works with statistics, using mathematical skill to assess or predict the probability of an event happening and its financial consequences. The decisions of actuaries can affect thousands of people so it is a well-paid job, with a lot of responsibility. Wherever there is risk, there are opportunities for actuaries.

Job Responsibilities of Actuary


  • Actuaries are responsible for managing risk; using analysis based on mathematics, they help organisations to plan and prepare by predicting the effects of risk and change.
  • In insurance-related areas, actuaries work to assess what levels or rates of insurance companies should set for individuals and businesses, based on the scale of risk involved.
  • Legislative and advisory work, such as reporting detailed financial forecasts to senior management, making sure the organisation stays within legislation rules and managing other staff.

Financial Modelling Analyst

Financial modelling involves building conceptual models of a business or an investment product so that an analyst can then calculate, forecast or estimate financial numbers. These models can range from simple formulae to complex computer programs such as those for a Discounted Cash Flow (DCF) model or Value-at-Risk (VAR) models.

Risk Analyst

Financial institutions are required by law to constantly manage market and credit risks. Risk analysts identify and analyse the areas of potential risk threatening the success of organisations such as investment and commercial banks. They are responsible for predicting change and future trends, as well as forecasting costs. There are high degrees of specialisation within the profession. Risk analysts may work in sales, origination, trading, marketing, financial services or private banking, specialising in credit, market, operational and regulatory divisions.

Professional Bodies Related to Actuary


  • Society of Actuaries in Ireland
  • Academy of Financial Trading





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