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M.Sc in Actuarial Science

Master’s Degree in Actuarial Science

About Master’s Degree

Our Master’s Degree is offered by Patkar-Varde college, affiliated to the University of Mumbai. The course is a unique blend of industry-academia tie-ups, bringing real-life experiences to the lecture theatre, enabling students to get industry rich learning experiences. This degree program will prepare actuarial aspirants for a high-flying career in traditional and non-traditional actuarial fields.

The degree aims at providing various career opportunities like Actuarial Science, Finance, Investment, Risk Modelling, Data Analytics, Asset and Liability Management.


Bachelors in (Actuarial Science & Quantitative Finance) offers students with the best of opportunities and a complete platform for actuarial and financial learning. It is the only Actuarial degree program in India to be accredited with the IFoA. This partnership offers students with an opportunity to earn exemptions for all core principles professional papers. (CM1, CM2, CS1, CS2, CB1, CB2).

Programme USP

Power Your Knowledge

Equip yourself with vital knowledge and skills that navigates your career in the right direction. It will polish certain universal skills like analytical and critical thinking along with technical skills required in your career life.

Offers scope to Multi-diverse fields

The masters degree will open your gate to multiple fields where actuaries work. From weather forecasting , venture capitalist, data science, InsurTech firms to conventional Insurance companies and Banks.

Elevate your game

It will equip you with the right kind of competencies needed to perform in the professional space. It involves research oriented projects and case studies which will keep you up-to-date with on goings in actuarial, financial, banking and tech industry.

Be Job Ready

Be ready to learn beyond classroom and class material to form a deeper understanding of the subjects. Apply theoretical knowledge on various softwares, case-studies/projects and Internships

Industry Academia Tie-ups

The course offers hands-on experience solving real-life, complex data-sets through a Project-Based Internship provided by our Industry partners along with Internship and Job opportunities

Fast-Track your career

It covers the material syllabus of the Institute and Faculty of Actuaries (IFoA, UK) and the Institute of Actuaries of India (IAI, India) such as CM1, CM2, CS1, CS2, CB1, CB2, CP1 and CP2

Learn from the Industry Experts

Faculty members include professionals who are Qualified Actuaries (FIA/ FIAI), Associates Actuaries (AIAI), Chartered Accountants (CA), Chartered Financial Analyst’s (CFA), Financial Risk Manager (FRM) and Others.

Curriculum Ideology

The curriculum is delivered in three ways:

Knowledge - Classroom Session

  • Assignments & Projects: Our dedicated team of professors is always eager to guide students at every step of their projects. Such assignments and projects undoubtedly offer our students an opportunity to meet, interact and build relationships with popular and experienced people in the BFSI (Banking, Financial Services and Insurance) Industry.
  • M.S:Learning Management System is our online space designed to cater to best learning for the millennials. Students have access to the lectures conducted in class on this portal, wherein students can revisit, rethink and revise lectures anywhere, anytime. This portal is also a one-stop-shop for all the assignments, practice questions and daily schedules.
Classroom Sessions
Case Studies

Skills - Practical Learning

  • Industry Connect Workshops: To keep the students informed about the latest happenings in the industry, we frequently organize uniquely designed workshops and seminars, which are focused on highly practical topics, which are short-listed by our team of experts.
  • Case Studies: Case studies highlighting various practical and situational issues are regularly discussed during classroom sessions. Exploring such live Case Studies and then identifying what went wrong or what could have been done better n helps students to streamline their thought process.

Application Of Knowledge And Skills

  • Projects:These are used as a platform for students to translate all their learnings in solving a scenario-based question. These are curated by the faculty to help students amalgamate all their learnings from each semester and to draw parallels with industry realities.
  • Internships:In the penultimate year, students have to undertake Internships. These internships are provided by a dedicated placement cell of the college which aim at giving students a taste of workings in the industry arena.
  • Placement Cell:We have a dedicated placement cell which aims at providing 100% placement assistance to students along with guiding them for future career options and resume building.


Bachelor’s degree in any discipline (Commerce / Engineering / IT background / Mathematics) with a minimum of 70% in Semester 5

If the Semester 5 marks are <70% then students need to give an aptitude test – QAT and Clear a Personal Interview Round


To master the necessary skills, gain a comprehensive foundation and ensuring depth in the field of Banking, Financial Services and Insurance (BFSI) industry.


This one-of-a-kind degree aims at propelling into the profession by offering strong fundamentals in:

  • Actuarial Science
  • Insurance
  • Finance
  • Investments
  • Risk Modelling
  • Data Analytics
  • Asset – Liability Management

Course Curriculum

Semester 1

  • Probability and Statistics
  • Financial Mathematics
  • Insurance – Principles, Products and Practices
  • Introduction to Derivatives and Financial Markets
  • Business Finance
  • Application of IT – Basic and Advance Excel

Semester 2

  • Portfolio Theory and Security Analysis
  • Financial Engineering - 1
  • Business Economics
  • Statistical and Risk Modelling in R
  • Introduction and Modelling in R
  • Fixed Income Products

Semester 3

  • Statistical and Risk Modelling – 2
  • Statistical and Risk Modelling – 3
  • Pricing and Reserving for Life Insurance Products -1
  • Actuarial Practice – 1
  • Professional Ethics
  • Model Documentation Analysis and Reporting
  • Application of IT – Python

Semester 4

  • Statistical and Risk Modelling - 4
  • Pricing and Reserving for Life Insurance Products - 2
  • Actuarial Practice - 2
  • Predictive Analysis and Machine Learning
  • Application on Actuarial Software
  • Business Communication
  • Project Based Internship

In case of any concerns, feel free to reach out to our admissions team on +91 9372777615 or drop us an email on

Class Profile

A levels, IB, International Students

Admission Process

The admission process is online, thereby quick and hassle-free:

Admission Process

In case of any concerns, feel free to reach out to our admissions team on +91 9372777615 or drop us an email on