Bachelor of Science in Actuarial Science (BSc(ActuarSc))
Aims and Features
Actuarial Science is a separate discipline with its own area of knowledge requiring multidisciplinary knowledge in probability, statistics, economics, investment, finance, law, taxation and accounting. Based on the evaluation of the financial, economic and business implications of future contingent events, actuarial science proves to be very useful in the business world, including the insurance industry as well as the banking and finance fields.
The HKU Bachelor of Science in Actuarial Science (Programme Code: 6729) is the only programme in Hong Kong accredited by the UK’s Institute and Faculty of Actuaries. It provides formal academic training to students who wish to join the actuarial profession. The programme is designed to provide specialist training in actuarial science and prepare students for the professional examinations towards being qualified as an actuary with internationally-recognised qualifications. Students will learn to tackle different problems in actuarial science and related fields using effective quantitative methods, and become proficient in formulating and communicating practicable business strategies.
In addition, the HKU Department of Statistics and Actuarial Science has introduced the Internship Programme and Career Advising Programme to help students seize career opportunities readily. Students will gain insight into the challenging world and daily activities of an actuary while strengthening their technical, analytical and communication skills. Mentorship, company visits, career fair and other professional preparation activities are organised to further students’ learning beyond classrooms.
Total number of students in 2020-21 (from year 1 to 4)
6729 Bachelor of Science in Actuarial Science
Updated on OCT 28, 2020
What is so special about the HKU Actuarial Science programme?
One of the Flagship Programmes in Hong Kong: Admitting top students through the JUPAS scheme each year, the programme is flexibly structured so that those who are more mathematical oriented can find sufficient interesting challenges while those who are more applied can receive a lot of exposures to the business and industry.
Worldwide Recognition: The HKU Department of Statistics and Actuarial Science has the best and largest group of researchers in Actuarial Science in Asia, and has been designated as a Center of Actuarial Excellence by the Society of Actuaries since December 2011. The designation is awarded to schools which demonstrate excellence in actuarial science through meeting strict criteria in quality of curriculum, number and quality of graduates, qualified faculty, strong ties to business, and beneficial research and scholarship.
Accreditation: It has obtained accreditation from the Institute and Faculty of Actuaries (IFoA), the UK's only chartered professional body dedicated to educating, developing and regulating actuaries based both in the UK and internationally. Students who graduate with a BSc(ActuarSc) degree from HKU with the required marks in specified subjects will be exempted from taking various IFoA subjects as they begin their journey towards qualifying as an actuary.
Exemptions of Professional Exams: The programme has also obtained Validation by Educational Experience (VEE) approval from the Casualty Actuarial Society, the Society of Actuaries and the Canadian Institute of Actuaries in North America.
Career Development: Job opportunities for actuaries are vast and available in a variety of industries. Financial institutions like insurance firms, investment banks, accounting firms, government/regulatory bodies, risk/asset/liability management consulting firms, even universities are hiring our Actuarial Science graduates.
Strong Network: As the first programme of its kind in Hong Kong, it has built a large and active network of alumni in the industry. All major insurance companies and many well-known financial institutions in Hong Kong have our graduates, and many of them hold a senior manager or higher position.
Shu Nga YEUNG 2018 BSc (Actuarial Science) graduate
Actuarial Intern at Swiss Reinsurance Company Ltd (Hong Kong Branch), 2016
“Internship is indeed an essential experience in university life, especially for students who plan to pursue a profession after graduation. Being an actuarial science student, like many others who share the same major, I joined the internship programme to work as an Actuarial Intern in the insurance world. Having the opportunity to perform pricing in Swiss Re, a reinsurance company, I was able to consolidate my actuarial knowledge learned in lectures through integrating it to my costing work. With hands-on experience working with technical pricing tool and helping to develop new products, I acquired actuarial software skills as well as insurance product knowledge, which can hardly be learned from textbooks. I would strongly recommend actuarial science students to take part in the internship programme, for not only can they gain a more comprehensive view towards the insurance market, but also equip themselves with both hard and soft skills that are critical for standing out in a crowd.”
"The internship programme at Prudential Cooperation Asia provided me with insights into what actuaries actually do in traditional life insurance company. Tasks given to me may not be relevant to my previous lessons but I treat it as an opportunity to learn more. Through different tasks, both my technical skills (use of simple coding, Excel formula, prophet modelling etc.) and soft skills (time management, communication and task responsibility) have been boosted. Besides skills, getting a broader image of the insurance field is something for me to treasure. Seeing a bigger picture let me understand how my work affects others or even the whole team project. Working in a company as a full-time intern is never an easy task, especially when the company is doing real business in which efficiency of work is highly required. The manager is not your teacher that can teach you everything just like at school. You should learn by first trying to solve the problems yourself before seeking any help."
Wing Ho Ronald CHAN 2019 BSc (Actuarial Science) graduate
Ronald is now working as an Actuarial Assistant in China Life Insurance (Overseas) Company Limited
"Being recognized by the Society of Actuaries, the programme is arguably the most prestigious actuarial programme offered in Asia. From what I have learnt and experienced throughout the 4 years of study, it is no exaggeration. It has extensive connections with business institutions from various fields for potential job opportunities. Most students graduate with at least an internship experience and several passed actuarial exams, which give us the edge in job applications and career progression. The programme has equipped me with the essential analytical skills and a wide exposure in actuarial, economic, financial and risk management fields to kickstart my career. The comprehensiveness and thoroughness are unmatched by other programmes in related fields. I am grateful for everything learnt here."