Overview

Insurance, pensions and investment all depend on understanding financial risk, and actuaries use mathematical models to measure it and to solve real financial problems. The BSc (Hons) Actuarial Mathematics at the University of Liverpool combines advanced mathematics, statistics, finance and economics to prepare students for careers in managing financial risk. The course builds skills in probability, data analysis, financial modelling and problem-solving, with a strong theoretical foundation alongside practical applications in insurance, pensions, banking and investment. It is accredited by the Institute and Faculty of Actuaries, which means students can receive exemptions from professional actuarial exams CS1, CS2, CM1, CM2, CB1 and CB2, based either on overall performance or on results in particular modules. Teaching in the Department of Mathematical Sciences blends lectures, tutorials, practical classes, interactive sessions and supervised project work, with small-group tutorials in the first year and one-to-one support from lecturers. Community-building runs through every year, from welcome week to peer-assisted learning and student society events. The course suits students who enjoy mathematics and want to apply it to finance and business, with a final-year capstone project focused on careers.

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What You’ll Learn

• Core mathematics, including calculus, algebra and data analysis, with mathematical IT skills

• Principles of finance and economic principles for business and markets

• Probability and statistics

• Financial mathematics

• Life insurance mathematics, developed across the second and third years

• Applied probability and risk models

• Statistical methods and stochastic modelling in insurance and finance

• Actuarial models

• A capstone project in mathematics focused on careers

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Learning Outcomes

By the end of the course, students will be able to use mathematical models to analyse and solve financial problems, drawing on probability, statistics, financial mathematics and economic principles. They will be equipped to apply actuarial and stochastic models to questions in life and non-life insurance, pensions and investment, and to use R for financial computing. Tutorials, problem classes, group work and presentations will build teamwork, problem-solving and clear communication. A final-year capstone project will develop the ability to apply this knowledge to a career-focused problem. Graduates will leave with an IFoA-accredited degree that can offer exemptions from professional actuarial exams, well prepared for careers in insurance, pensions, investment management, banking, risk consulting and data science, or for advanced study and research.