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Actuarial Science – (Ph.D.)
University of Kent, Canterbury Campus
Mathematics, Statistics and Actuarial Science| Application Deadline: | no later than three months before your intended start date | ||
| Annual Tuition Fee: | ≈ € 4,360 - ≈ € 13,116 (non-EEA) | ||
| Location: | Canterbury / United Kingdom / View location on map ▾ Hide location on map ▴ | ||
| Duration: | 36 months | Start Date: | September |
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| Credits (ECTS): | 180 | ||
| Languages: | English | ||
Location of University of Kent, Canterbury Campus
The PhD in Actuarial Science offers the opportunity to begin or consolidate your research career under the guidance of internationally renowned researchers and professionals at the SMSAS. The School has a strong reputation for world-class research and a well-established system of support and training, with a high level of contact between staff and research students.
Areas of interest include economic capital and risk management for financial services firms, and all areas of mortality and longevity research. Other research topics in the School include genetics and insurance, insurance economics, pensions and corporate reporting.
Contents
Research groups
Genetics and insurance risks
Advances in human genetics, and medical sciences in general, have led to many gene discoveries; a number of single-gene disorders have been successfully identified and studied in detail. Researchers are now increasingly focusing on common multifactorial genetic disorders such as cancer, heart attack and stroke, caused by interaction of genes and environmental factors. It is important for the insurance industry to understand the full implications of these latest developments. Firstly, can an insurer justify charging different premium rates to different risk groups? Secondly, if insurers are not allowed to discriminate between individuals based on their genes, by regulation or by law, is there a risk of adverse selection?
From a public policy perspective, regulators and governments face the dilemma of whether to regulate against genetic underwriting or to allow market economies to take their own course. On one hand, there is a moral obligation not to discriminate against individuals for their genetic make-up. On the other hand, risk of adverse selection against insurance firms cannot be ruled out altogether. Maintaining an appropriate balance between the two is key.
Economic capital and financial risk management
Financial services firms are in the business of accepting risks on behalf of their customers. Customers do not always have the time or expertise to handle financial risks on their own, so they pass these on to financial services firms. However, even the most reputable firms can sometimes get it wrong, so it is fundamentally important for all stakeholders that financial services firms hold an appropriate amount of capital calculated on a robust scientific basis, to back the risks they are running. Economic capital can provide answers by specifying a unifying approach to calculating risk-based capital for any firm in the financial services sector.
IELTS
You are normally required to take an English Proficiency Test.
Most European Universities recognise the IELTS test.
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Register Now!Requirements
It is strongly recommended that you contact the Director of Graduate Studies in the school you wish to pursue your studies. If you already know the member of staff you wish to supervise your project, you should contact him or her directly. They welcome direct contact with potential students as it allows them the opportunity to discuss your research proposal. This is an important aspect of the application process as the University must be assured that it can provide a suitable programme of training and research support, a supervisor who has the requisite expertise, and suitable facilities and equipment where appropriate. In turn, the University must also be satisfied that you have the necessary qualifications and experience. This early discussion also allows you and the Director of Graduate Studies/your potential supervisor to explore funding opportunities.
General entry requirements
Students who wish to apply for a higher degree must normally have a first or second class honours degree in a relevant or appropriate subject, or the equivalent from an internationally recognised institution.
English language requirements
IELTS
* 6.5 incl
* 6.0 reading
* 6.0 writing
* 5.5 listening
* 5.5 speaking
TOEFL internet-based
* 90 incl
* 22 reading
* 21 writing
* 21 listening
* 23 speaking
Additional Requirements
| Minimal degree required: | Master's degree |
| Minimal amount of work experience | Not specified |
Language Proficiency
| IELTS Band: | 6.0 |
Faculty
Actuarial Science Group
Actuaries apply mathematical and statistical techniques to financial problems, managing financial risk and making financial sense of the future for their clients. They look at what has happened in the past and use it to make predictions about the future, developing appropriate strategies to deal with the risks involved.
The Actuarial Science Group at the University of Kent provides several courses at both undergraduate and postgraduate levels which can lead to exemption from the professional examinations required to qualify as a Fellow of the Institute or Faculty of Actuaries, the professional bodies in the UK to which actuaries belong.
Staff research
Dr Lothar Breuer: Reader in Statistics
Stochastic processes; queueing theory; risk theory; Markov-additive processes.
Professor Paul Sweeting: Professor of Actuarial Science
Pensions; mortality trend risk; mortality rating; Longevity markets.
Dr Pradip Tapadar: Lecturer in Actuarial Science
Economic capital and financial risk management; genetics and insurance; Haplotyping analysis via genetic algorithm.
Mr R Guy Thomas: Honorary Lecturer in Actuarial Science
Genetics and insurance; insurance economics; accident compensation.
Professor Stephen Walker: Professor of Statistics
Bayesian inference; Bayesian nonparametric methods; time series; survival analysis; MCMC; matrix algebra.
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