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Bachelor’s Degree Program

Actuarial Science

You can become an expert in risk management in our actuarial science program. You will learn to apply mathematics, statistics, and risk theories to the design of insurance and pension programs in various business environments.

The Bachelor of Science in Actuarial Science is the only program of its kind in Saskatchewan, and one of only 11 programs in Canada that is accredited by the Canadian Institute of Actuaries.

Actuarial science students may take one-year internships at well-known companies in insurance, pension and consulting sectors. Gain hands-on, real world experience before you complete your degree.

Graduates from our actuarial science program have close to 100 per cent hiring success in the actuarial industry. It is a rewarding career with opportunities for professional development and financial gain.

What is Actuarial Science?

Actuarial Science applies mathematics, statistics, and risk theories to the design of insurance and pension programs. Actuaries' areas of expertise are extensive and involve a wide range of business aspects such as operations research, finance, economics, investment analysis, analysis of medical risk, accounting, and legal and regulatory aspects of insurance and pensions, among others. The actuarial profession requires a strong mathematical ability and proficiency in various business skills.

Some sample courses in actuarial science at the U of R include:

Mathematics of Finance I

This course provides a basis of financial mathematics. Topics include measurement of interest, basic and general annuities, yield rates, amortization schedules, and sinking funds.

Introduction to Actuarial Mathematics

Topics include: economics of insurance, applications of probability to problems of life insurance, life annuities, and life tables.

Actuarial Models I

Probabilistic and deterministic contingency mathematics in life insurance and pensions. Topics include: benefit premiums, benefit reserves, multiple life functions, and multiple decrement models.

Introduction to Casualty Insurance and Credibility

An introduction to property/casualty loss reserving techniques. Topics include: reserves in casualty insurance, ratemaking process, credibility.

Quick Facts

Program: Bachelor of Science in Actuarial Science

Length: 4-5 years

Accreditation: Canadian Institute of Actuaries

Offered Through: University of Regina Campion College First Nations University of Canada Luther College

Faculty: Faculty of Science

Resources: Course Catalogue Program Requirements

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Actuarial Science Meet Your Faculty

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Why Study Actuarial Science at the University of Regina?

The Bachelor of Science in Actuarial Science is the only program of its kind in Saskatchewan, and one of only 11 programs nationally that are accredited by the Canadian Institute of Actuaries.

Internship

The Department of Mathematics and Statistics, along with crown corporations, compensation boards, insurance companies and consulting firms, has developed a one-year Internship Program so actuarial students can gain work experience before completing their bachelor’s degree. This is an opportunity to gain work experience in your field while earning three credit hours towards your degree. If you’re interested in an internship, you should contact the department of Math and Statistics at the beginning of your third year.

Accreditation

Under the Canadian Institute of Actuaries’ University Accreditation Program, University of Regina courses can be used towards professional actuarial designations. Full details can be found at Canadian Institute of Actuaries (CIA).

Math Actuarial-Statistics Student Society (MASS)

MASS is a society that is open to all students interested in Math, Statistics, and Actuarial Science. Members organize functions not only for MASS students, but also for the general student body. These range from tutorial sessions for any students taking Math, Statistics, or Actuarial Science courses, to events to celebrate Pi Day (March 14), to collaborating with other student groups on science-themed events.

As a detailed-oriented and analytical person, a career as an actuary seemed to be a perfect fit. I have always been close to my family, and so being able to stay home to get my degree was important to me, and I was fortunate that the University of Regina offered an Actuarial Science program. My hope for the future is that I will graduate and become a certified actuary.

Anna Taylor

2nd year student (Actuarial Science)

Actuarial Science Frequently Asked Questions

How do I become an actuary?

An actuary is a fellow of the Canadian Institute of Actuaries (CIA). This professional designation is granted after three years of practical experience and successful completion of a series of required courses. Members can achieve their fellowship by completing the Society of Actuaries exam system (covering life insurance, health insurance and pension topics) or the Casualty Actuarial Society exam system (covering property and casualty insurance topics). Under the Canadian Institute of Actuaries University Accreditation Program, University of Regina students can obtain exemptions to preliminary exams under either system.

What clubs, campus events, and networking opportunities do actuarial science students participate in?

MASS (Math Actuarial-Statistics Student Society)
S3 (Science Students’ Society)
Clubs and activities open to all U of R students

Can I transfer into the actuarial science program?

You can transfer from another U of R program, or from other college and university programs, as long as you meet the admission requirements for the Faculty of Science.

Do you offer scholarships?

Yes! We offer the following scholarships to undergraduate actuarial science students:

Science 10th Anniversary Entrance Scholarship
Co-operators Life Insurance Company Actuarial Science Award
Don Ireland Memorial Award
James B. Carefoot Memorial Scholarship
Saskatchewan Workers' Compensation Board Actuarial Science Scholarship
Saskatchewan Government Insurance Actuarial Science Scholarship

Use our online Student Awards Management System (SAMS) to find other awards and scholarships for which you may be eligible.

Actuarial Science Program Concepts and Goals

When you successfully complete your degree, you will be able to apply your skills to a wide range of business areas.

Learn

The knowledge you will gain from your courses includes actuarial mathematics, actuarial models, finance and accounting, statistics, probability, calculus, vector calculus, linear algebra, microeconomics, macroeconomics, and more.

Get experience

Actuarial science students take one-year internships at well-known companies in insurance, pension and consulting sectors. This practical experience helps you develop valuable skills such as problem-solving, teamwork, communication, and can lead to career success.

Get jobs

Actuaries work all across Canada in a variety of areas including banking, investments, group insurance, life insurance, property and casualty insurance, pension plans, enterprise risk management, health care, workers’ compensation, actuarial evidence, climate change, and academia.

What can you do with an Actuarial Science degree?

To explore minors that may be available in this program area, please see the Academic Calendar, meet with your faculty advisor in the Academic Advising Office, or visit the Science Academic Hub after you are admitted.

Upon successfully completing your bachelor’s program in actuarial science, you will be ready for the next step of your career. Our graduates have gone on to jobs such as: