Actuarial Science is the area of mathematics that applies quantitative methods to assess risks in the insurance and finance industries. It became a formal discipline in the late 17th century, when the increased demand for such long-term insurance coverages as life insurances, annuities, and burials expense coverages emerged. Since then and for a long time, actuaries have been interested in studying the present monetary value of future obligations as well as the variability of these present values in the contexts of life and health insurance, property and casualty insurance, pension funds and social wealth-fare programs. Today actuaries are also being employed in the areas of enterprise risk management, and even in general finance and investment.
Specialized Honours (BA)
Honours Major (BA)
Professional (direct entry) Certificate in Actuarial Science
Outlook: Due to the CNBC list of best jobs in North America, actuary was ranked 1st in 2010/2013/2015 as well as 2nd and 4th in 2009/2012 and 2014, respectively. Moreover, unemployment rates for actuaries have been traditionally very low both in Canada and abroad, and the job prospects are good with the number of actuaries expected to grow significantly. Namely, the U.S. Bureau of Labor Statistics projects a growth of 18% during 2014-2024, which is much faster than average for all occupations.
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