ACTUARIAL SCIENCE
UNDERGRADUATE PROGRAMS
SPECIALIST • MAJOR
Actuarial Science at U of T
U of T offers one of the best Actuarial Science programs in North America. With courses dating back to 1875, it is the oldest actuarial science program on the continent.
We offer the Actuarial Science program at two levels of study for undergraduate students:
• Major Program in Actuarial Science
• Specialist Program in Actuarial Science
We offer a combination of actuarial theory courses and five “practicum” courses – covering all major subfields of actuarial science as well as professional communication. The practicum courses are taught by senior actuaries from the profession, which help students gain practical knowledge from various practice tracks and improve competitiveness when applying for internship and employment.
Students in the Actuarial Science program learn to apply mathematical, statistical, and machine learning methods to assess risks in insurance, finance, pension, investment, and other industries.
U of T has one of the best curriculums in Canada, and is recognized as a Centre for Actuarial Excellence by the Society of Actuaries (SOA). We are one of the few Canadian schools to receive this prestigious desgnation.
Recipient of the casualty Actuarial Society (CAS) University Award, which is awarded to only 3 universities globally every year.
Department rankings:*
Actuarial science program ranking:*
In Canada In Canada In the world In North America 1 1 5 12 # # # #
Reputation for excellence
At the Department of Statistical Sciences, our faculty, researchers and students exude a relentless dedication to excellence. Our consistent top-tier placements aren’t by chance. They’re the product of hard work, and innovative thinking. Our global standings for academic and research performance are consistently ranked among the top statistics programs in the world by EduRank, Shanghai Rankings, and QS World University Rankings.
Faculty within the department developed many important innovations in statistical science. These include advances in foundational theory and methods, algorithms for statistical computation, machine learning, mathematical finance, statistical applications in science and humanities and the development of cutting-edge teaching methods and curricula in statistics. The importance of these innovations is reflected in the number of significant research and teaching awards bestowed on the department’s faculty, including the prestigious Committee of Presidents of Statistical Societies (COPSS) Award.
*EduRank 2024
The Future (In Statistics) Looks Bright!
The need for statisticians continues to grow by leaps and bounds.
Worldwide Alumni
Today, statistical methods find a variety of important applications in society and are used in many sectors, including business, government, academia, public health, technology and other science fields.
50.9 0.9 % % %
48.2
Men
Other Countries
35 Employment opportunities for statisticians and data scientists are expected to increase by 35% between 2022 and 2032.*
Increase in Employment
Women
Where Our Alumni Work
Alumni currently employed in country as of 2024
Professional Experience (Internship) Program
Our professional experience program for Actuarial Specialist students connects students to the industry through networking, workshops, panel discussions, mock interviews, case competition, and more. It also provides international students with legal work permits for year-round internships.
“I discovered my first internship from the weekly internshipopportunity-list that the statistics department distributes. Using the knowledge I acquired from ACT390 and the confidence boost I got from the mock-interviews we did in the course, I applied to my first internship and succeeded through the 3-step interview process.”
Professional Development
Actuarial Science Alumni Mentorship
In partnership with University Advancement (Alumni) and the Actuarial Science Club, undergraduate students studying actuarial science (major or specialist) connect with professionals who have graduated from the program to discuss career paths, industry information, professionalism, and more. To become an alumni mentor, please sign up or contact our Mentorship Programs Coordinator.
Learn more:
Actuarial Science Student Club
The Actuarial Science Club works to provide students with opportunities to meet with recruiters on campus through student events and networking workshops. Our program heavily supports students looking for hands on experience. We have a staff position dedicated to connecting students with internship and mentorship opportunities.
We offer actuarial students mentorship from both industry professionals and peers.
“The most important that helped me grow as a student was the group work which many of the classes in the program had, group work never goes away and being able to work with others and deal with problems together is a vital skill.”
Jordan Milando, Actuarial Science Alumni
Zuva Gwata, Actuarial Science Alumni
ACT390H1: Professional Experience in Actuarial Science
Careers
Actuarial Science is based upon the application of mathematical techniques to reduce the impact of such hazards as loss of income through death, disability, or retirement, or loss of property through fire, accident, or theft. Actuaries are the chief architects of life, health, and property insurance plans, and pension plans, and bear the major responsibility for their financial soundness.
Possible career options include:
• Insurance industry: life and annuities, healthcare, property & casualty, reinsurance, consulting, etc.
• Pension plan valuation, investment, and management.
• Actuarial software development.
• Quantitative finance and investment.
• Government departments such as Statistics Canada and Health Canada; social insurance.
• Non-traditional actuarial fields such as climate risk management and microinsurance.
Many of our Actuarial Science courses are taught by senior, fully credentialed practicing actuaries. This is especially beneficial as students of U of T have the opportunity to create relationships with professional actuaries in the Finance Hub of Toronto.
Professional Credential
In collaboration with the Canadian Institute of Actuaries (CIA), our program receives university accreditation and is 1 of 12 programs in Canada to receive full accreditation. This may significantly shorten the “travel time” to achieve professional credentials.
Students completing our program are eligible for CIA capstone exam which leads to the professional credential of Associate of the Canadian Institute of Actuaries (ACIA), without having to take external professional exams.
“The Actsci program has given me incredible opportunities to apply what I’ve learned in real-world settings, particularly through the Professional Experience Year. It’s been essential for understanding how my academic studies translate into practical, impactful work in the insurance industry.
Caroline Wallace, Actuarial Science Alumni
Before You Apply
Students are required to choose one admission category on their application. Students should apply to the Physical & Mathematical Science admission category on the St. George campus.
In your first year of study, you will take courses that are required for the program(s) you want to study in your second year, which means you will enrol in a program of study at the end of your first year. Programs at the Department of Statistical Sciences are accessible for the first time once a student has earned (or is currently completing) 4.0 credits.
We’re here to help you at each stage of the process. If you have any questions, do not hesitate to reach out.
Email: ug.actsci@utoronto.ca
More details about enrolment requirements can be found on the Arts & Science Academic Calendar.*
How to Apply to Our Undergraduate Programs
If you are a Faculty of Arts & Science student and meet enrolment requirements, please log in to ACORN:
Step 1 | Select Enrol & Manage from under Academics on the menu at the left-hand side of the page.
Step 2 | Click on Programs.
Step 3 | In the “Add a Program”-box, enter the code of the actuarial science program listed below:
Actuarial Science Specialist
Actuarial Science Major
Program application dates, stages and steps can be found on the Arts & Science Program Toolkit website.**
