Actuarial education in Canada

Website: https://www.concordia.ca/artsci/math-stats.html

Name of actuarial science programs

• BA or BSc Honours in Actuarial Mathematics
• BA or BSc Specialization in Actuarial Mathematics
• BA or BSc Specialization in Actuarial Mathematics/Finance

Description
The Specialization in Actuarial Mathematics program is comprised of 20 required courses (60 credits) and 10 elective courses (30 credits). Provided that students follow all courses from the following mandatory list, students will be eligible to access the ACIA Capstone exam for the Pathway 1 access to CIA associateship (ACIA). This is a limited-entry program with a maximum of roughly 50 students selected among the more than 200 applications that we receive every year. Our minimum application grade point average (GPA) is 3.3 on 4.3 and then a minimum GPA of 2.0 on 4.3 is required to remain in good standing in the program.

The Honours program requires exactly the same course content as the Specialization one, but in addition, students must complete a six-credit Honours actuarial research project under the supervision of a faculty member of our department. A higher minimum GPA of 3.0 on a 4.3 scale is required to remain in good standing in this program, which is designed for students who intend to continue their training in graduate school.

The Specialization in Actuarial Mathematics/Finance program is offered jointly with our John Molson School of Business (JMSB). It requires almost the same actuarial courses as the Specialization in Actuarial Mathematics program, plus the equivalent of a Minor in Finance, taken at the JMSB. These include all our Society of Actuaries-approved courses for the VEE in Mathematical Statistics, Economics and Corporate Finance. As a result, all 90 credits are required and there are no electives. We admit, at most, 15 students a year in this program, usually our top applicants (minimum application GPA of 3.7 on a 4.3 scale), who sit in the same courses as the other actuarial science students.

Mandatory courses for recognized degree
For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Website: https://www.stat.sfu.ca/

Name of actuarial science programs

• BSc Major in Actuarial Science
• BSc Honours in Actuarial Science
• MSc in Actuarial Science

Description

The Department of Statistics and Actuarial Science at Simon Fraser University offers undergraduate major and honours degrees in actuarial science. A suite of actuarial, mathematics, statistics, business and economics courses in these programs ensure that graduates obtain both the theoretical foundations and the practical knowledge required to begin successful actuarial careers in a variety of settings. The department also offers a two-year research-oriented Master’s program in actuarial science that is not part of the Canadian Institute of Actuaries accreditation program.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

*For students who started their studies prior to Fall 2024, ACMA 355 will be accepted in lieu of ACMA 321 and ACMA 455 will be accepted in lieu of ACMA 421.
**Or any other W course.

Website: https://www.dms.umontreal.ca

Name of actuarial science programs

• Baccalauréat spécialisé en mathématiques, orientation actuariat
• Baccalauréat spécialisé en mathématiques, orientation actuariat COOP

Description

The actuarial concentration of the BSc in Mathematics seeks to provide future actuaries with all the tools they will need (labour market and preparedness for the SOA, CAS and CIA professional exams), while at the same time offering an excellent education in mathematics, statistics and finance. In addition to actuarial, finance, math and statistics courses, students will round out their curriculum with courses in information technologies, economics, and demography. The Université de Montréal is the only Francophone university offering a co-op program (COOP). COOP students complete three employment internships during their undergraduate studies. Non-COOP students can also complete two credited internships during their studies. The Université de Montréal’s program is recognized by the Canadian Institute of Actuaries as part of their accreditation program.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Website: https://actuariat.uqam.ca/

Name of actuarial science programs

• Baccalauréat en actuariat
• Maîtrise en mathématiques actuarielles et financières

Description

The department of mathematics offers a three-year bachelor’s program in actuarial studies. The program examines the various aspects of actuarial science: life and non-life insurance, group insurance, pension plans, finance and investment. Numerous internship opportunities are available to students throughout the program.

The department also offers a master’s program in actuarial and financial mathematics, enabling students to further their knowledge and understanding of insurance, finance, modelling and quantitative risk management. Subjects such as pricing and modelling of reserves, natural disasters, climate change, segregated funds and population aging are explored.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Website: http://www.act.ulaval.ca

Name of actuarial science programs

• Baccalauréat en actuariat
• Maîtrise en actuariat
• Doctorat en actuariat

Description

Université Laval’s École d’actuariat will transform you into a specialist of analysis and financial implications of risk. On the one hand, you will gain broad and in-depth knowledge in mathematics, statistics, probability, computer science, risk analysis and risk management. On the other hand, you’ll familiarize yourself with the economic, legal, financial and accounting aspects of the profession.

In addition to mastering basic concepts and principles, you will also develop general skills to practice in the profession, such as problem solving, discipline, creativity, ethical sense, autonomy, efficiency and communication.

In your final year of study, you will have the chance to delve deeper into one of the profession’s many practice areas such as personal insurance, damage insurance, risk management, group insurance plans, pension plans, social security, finance, risk modelling or big data.

Successful completion of diplomas accredited by the Canadian Institute of Actuaries (CIA), including mandatory CIA courses, entitle you to taking the ACIA Capstone Exam as part of Pathway 1 leading to the Associate of the CIA (ACIA) designation.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Graduate Program

Undergraduate Program

Website:  Actuarial Science | Future Students | University of Calgary (ucalgary.ca)

Name of actuarial science programs

• BSc Major in Actuarial Science
• BSc Honors in Actuarial Science
• BComm/BSc (Actuarial Science) double degree

Description

The Actuarial Science Program prepares a student for a career as an actuarial professional. Actuarial practitioners, also known as actuaries, have been described as financial architects and social mathematicians.

Broadly speaking, actuaries forecast the cost of future risks and improve financial decision making by developing models to evaluate the current financial implications of uncertain future events. Actuarial students learn about advanced mathematical and statistical techniques useful for this purpose, but also study topics like actuarial mathematics, demography, economics, marketing, mathematics of investment and finance, pension mathematics, risk management and insurance, and accounting.

By its very nature, the Actuarial Science Program is interdisciplinary and the skill sets developed by an actuarial student are applicable in many business settings and are in high demand.

Most graduates find employment in one of the fields of insurance, employee benefits, pension and management consulting, or banking and finance, and have the option of switching fields during their career.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

*ACSC513 (Fundamentals of Actuarial Practice) and STAT517 (Practice of Statistics) are accepted in lieu of STAT543 for degrees completed by the end of the winter 2027 term, and STAT543 is required for degrees completed thereafter.

Website: http://www.umanitoba.ca/management

Name of actuarial science programs

• BComm (Hons) Actuarial Mathematics
• BSc (Hons) Actuarial Mathematics
• BSc (Hons) Actuarial Mathematics and Statistics Joint Program

Description

The Actuarial Mathematics program at the University of Manitoba is one of the oldest in North America, having offered actuarial courses since 1912. Over 700 graduates have become Associates or Fellows of the Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS). Currently, three undergraduate programs leading to BComm (Hons.) or BSc (Hons.), and one master’s program (MSc in Management), are offered and administrated under the Warren Centre for Actuarial Studies and Research. The Warren Centre has been recognized as a Center of Actuarial Excellence by the SOA since 2009. It was ranked as the best actuarial program in Canada in the 2010 Knight Schools survey and was accredited by the CIA under its University Accreditation Program in 2011.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Website: http://www.uregina.ca/science/mathstat/

Name of actuarial science program

• Bachelor of Science with a major in Actuarial Science

Description

The Department of Mathematics and Statistics is one of six departments in the Faculty of Science at the University of Regina. It offers a variety of undergraduate programs, but there are three main areas of focus: mathematics, statistics and actuarial science. These three disciplines form the basis of interdisciplinary programs such as Biology and Statistics, Economics and Statistics, and Mathematics and Mathematics Education.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Website: http://www.utstat.toronto.edu/

Name of actuarial science program

• Specialist and Major program in Actuarial Science

Description

University of Toronto offers two actuarial science undergraduate programs: Major and Specialist. Both programs are designed to be completed over four years and offer smaller class sizes compared with similar programs in other Canadian universities. Our programs include statistics and data science courses as part of the core curriculum, and a series of practice-oriented courses covering all major subfields of actuarial science (life, pension, P&C) taught by senior actuaries working in the industry.

The Actuarial Science Specialist program includes an internship course and a mandatory (paid) internship component. International students in this program may receive work permits for internships during the academic year.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Website: https://uwaterloo.ca/future-students/programs/actuarial-science

Name of actuarial science programs

• BMath, Actuarial Science
• BMath, Actuarial Science/Finance Specialization
• BMath, Actuarial Science/Predictive Analytics Specialization

Description

The Bachelor of Mathematics (BMath) is offered by the Faculty of Mathematics as a four-year regular honours program or a five-year co-op honours program. Co-op students complete six four-month co-op work terms as part of their academic program. There are a wide variety of co-op employment opportunities, and students can gain up to two years of diverse work experience before graduating.

The BMath program with honours in actuarial science covers a wide range of courses, including full coverage of the material of the SOA/CAS associateship requirements and some coverage of the SOA/CAS fellowship requirements. With a large actuarial faculty, the range of courses offered is broad and extends well beyond the SOA/CAS syllabi. Students may choose to gain a foundational knowledge in property and casualty insurance, pensions, corporate finance, risk theory and life insurance. Students who are particularly interested in financial or predictive analytics topics may elect to add either option to their actuarial science honours plan.

Students can concurrently earn a Bachelor of Business Administration (BBA) through the Business Administration and Mathematics Double Degree program offered in partnership with Wilfrid Laurier University. The Department also offers honour plans in data science, mathematical finance and statistics.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Website: https://uwaterloo.ca/statistics-and-actuarial-science/programs/graduate-programs/master-actuarial-science

Name of actuarial science program

• Master of Actuarial Science (MActSc)

Description

The Master of Actuarial Science (MActSc) is a professional program designed for highly qualified students with strong quantitative and communication skills who have not previously studied actuarial science. The objective of the MActSc is to develop both technical and business skills in the context of the modern risk management environment.

The program comprises three semesters. Students take 15 courses, covering material from introductory interest theory to advanced graduate-level material in risk management and financial mathematics. The objective of the program is to prepare students for top-level actuarial careers, emphasizing both cutting edge technical material and the insurance business environment.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Website: https://www.uwo.ca/stats/

Name of actuarial science programs

• Honors Specialization in Actuarial Science
• Major in Actuarial Science

Description

Founded in 1980, the mission of the Department of Statistical and Actuarial Sciences includes the following:

• To advance the statistical and actuarial sciences through high quality research;
• To contribute to research conducted University-wide by collaborating with other researchers in developing methods of modelling and analysis appropriate to the applications;
• To offer leading undergraduate and graduate programs in statistical and actuarial science;
• To offer high-quality introductory statistical and actuarial science courses appropriate for students in a wide range of disciplines; and
• To explore innovative methods for teaching statistical and actuarial science.

The University of Western Ontario is recognized as a Society of Actuaries Centre of Actuarial Excellence.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Website: https://www.yorku.ca/science/mathstats/programs/actuarial-science/

Name of actuarial science programs

• Specialized Honours (BA)
• Honours Major (BA)

Description 

York University’s Actuarial Science program offers a forward-thinking education that blends mathematics, statistics, and the latest advancements in data science and risk management. Students learn from accredited actuaries and industry executives, gaining real-world insights and hands-on experience through internships and work-integrated learning opportunities. The curriculum is designed to prepare graduates for the challenges of tomorrow, including emerging fields like climate risk management and predictive modelling, ensuring they are ready to make a meaningful impact in diverse industries such as insurance, finance, healthcare and consulting.

The program emphasizes holistic development, combining academic excellence with extracurricular activities and industry engagement. With outstanding career prospects, graduates are well-positioned for secure, rewarding careers where their analytical talents and leadership skills are highly valued.

Mandatory courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Accreditation of the Actuarial Science Bachelor of Arts program (Specialized Honours/Honours Major) takes effect with the fall 2025 cohort, with all CIA mandatory courses mentioned above.

Degrees completed between June 30, 2021, and October 31, 2026, may meet accreditation requirements through Pathway 1 without completion of all CIA mandatory courses. Please send your transcripts showing a completed degree at [email protected] to request confirmation that your degree can meet Pathway 1 eligibility.

For more information, please contact:
Dr. Edward Furman
Tel: 416-736-5250, ext 33768
Fax: 416-736-5757

Job title: Accreditation Actuary

Each accredited university must have one Accreditation Actuary (AcA), appointed by the CIA.

The AcA serves as the university’s point of contact with the CIA and is responsible for coordinating the university’s participation in the CIA’s University Accreditation Program (UAP).

Specific AcA duties and responsibilities

• Serve as the primary contact between the university and the CIA.
• Advise the CIA of any circumstances that may affect accreditation status or coverage of the CIA syllabus by students.
• Work with course instructors, as needed, to map university courses to the CIA syllabus and ensure adequate syllabus coverage is maintained.
• Contribute, as appropriate and within the university’s curriculum development processes, to course content as it relates to accreditation.
• Coordinate site visits and provide accreditation and review panels, as well as external examiners as part of the triennial external examiner process, with access to relevant materials and information.
• Forward the accreditation agreement terms to all instructors of mandatory course and department chairs.
• Provide course outlines for all CIA-mandatory courses within 10 days of the academic year.
• Upon reasonable notice, provide required documentation to the CIA as needed.
• Ensure that the university meets Faculty composition requirements for purposes of accreditation.
• Ensure that the university has an Associate (ACIA) or Fellow (FCIA) on staff who can fulfil the role of the AcA, and prepare appropriate contingency plans in the event of academic or other leave.
• In accordance with the CIA’s University Accreditation Program Policy, inform the CIA immediately if the university loses any FCIA or ACIA on staff due to attrition or other causes, such as academic or other  leave, or if the AcA position becomes vacant.
• Engage regularly with students and provide the CIA with student feedback.
• Attend CIA UAP events and training sessions as required.
• Arrange opportunities for the CIA to meet students.
• Support general marketing of the UAP to students and faculty, as appropriate.

Criteria for appointment of the AcA

The AcA must:

• hold either the ACIA or FCIA designation,
• have at least five years’ experience as a practicing actuary or in actuarial education and research, and
• be a CIA member in good standing.

Honorariums and expenses

• The AcA is entitled to claim reasonable expenses from the CIA for those incurred in attending Institute meetings required for the role.
• No honorarium will be paid by the CIA for this position.