Master of Actuarial Mathematics

University of Copenhagen
Actuarial Mathematics
Masters
Business & Management
Public University
Denmark

This two-year MSc at the University of Copenhagen builds expertise in mathematical statistics, mathematical finance and quantitative risk management, with a clear focus on insurance and pensions. It is taught in English and is organised in nine-week blocks worth 15 ECTS each, adding up to 120 ECTS. The study style is strongly mathematical, with students deriving the models themselves, but it also includes computer-based work on real insurance data, such as predicting claims and setting premiums. The programme is run at the Faculty of Science in Copenhagen.

Course Details

Category	Details
Time	Full Time
Campus	Copenhagen
Duration	2
Deadline-Date	01-September,15-January,
Fee Per Year	130000
Application Fee	750
Currency	dkk
Intake Link	https://studies.ku.dk/masters/application-and-admission/userguide-for-online-application/
Deadline Link	https://studies.ku.dk/masters/application-and-admission/userguide-for-online-application/
Intakes	February
Program language requirement	Unless you apply with a bachelor's degree which provide legal right of admission, you must document that you fulfil the language requirements. English language requirement When you apply for admission to a master's degree programme, you must document your English language proficiency, which means you must have passed English (level A or B) at upper-secondary school level. If you cannot provide documentation for the language requirement, you can take a language test approved by UCPH, for example TOEFL or IELTS. TOEFL iBT, TOEFL iBT Home Edition (MyBest scores are not accepted): Minimum 83 with at least 20 in each subscore, IELTS Academic, IELTS Online (One Skill Retake are not accepted): 6.5 with at least 6 in each subscore, Cambridge Advanced English (CAE/CP1),Cambridge English: Proficiency (CPE/CP2): 180 (C1-level), Danish language requirement If you apply for admission to a master's degree programme taught in Danish, you must have acquired Danish language skills prior to admission equivalent to level A Danish at upper-secondary school level. If you cannot provide documentation for the language requirement, you can take a language test approved by UCPH, for example the study test (studieprøven).

Who can Choose this program?

You need a Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Mathematical Economics, Financial Mathematics, Physics (with strong math), Engineering (with strong math), or a closely related quantitative field.

Additional Information

Category	Details
Scope of the program	Graduates are prepared for work on both life and non-life insurance mathematics and for building probabilistic and statistical models for real-world problems. Typical employers are insurance companies, banks and other financial institutions, and consultancy firms, while some graduates move into public administration, supervisory authorities or higher education. The programme trains independent and rigorous argumentation, which suits analytical roles such as actuary, risk analyst or quantitative modeller. The mix of thesis work with industry partners and the optional Project in Practice gives students early contact with potential employers in the insurance and pension sector.
Program entry requirement	To apply for admission to this master's degree programme, you must have completed a qualifying bachelor’s degree or a similar Danish or international degree programme which is assessed to be relevant. Apply for admission via the application portal. Below, you can read more about admission requirements and which documents to upload in the application portal. Here you'll find the different academic requirements depending on which qualifying degree you hold. Bachelor with legal right of admission With a Bachelor's degree in Actuarial Mathematics (forsikringsmatematik) from University of Copenhagen you are granted legal right of admission and guaranteed a place on the Master’s programme in Actuarial Mathematics if you apply in time to begin within 3 years of the completion of your Bachelor’s degree. Bachelor programmes that fulfil the academic requirements You meet all academic requirements if you hold one of the degrees listed below. Learn about when and how to apply. Note, however, that you still need to document that you meet the programme's language requirements. Actuarial Mathematics (forsikringsmatematik) from University of Copenhagen (note, that if you apply in time to begin within 3 years of the completion of your Bachelor’s degree, you have legal right of admission to the Master's programme) Bachelor programmes that fulfil the academic requirements You meet all academic requirements if you hold one of the degrees listed below. Learn about when and how to apply. Note, however, that you still need to document that you meet the programme's language requirements. Actuarial Mathematics (forsikringsmatematik) from University of Copenhagen (note, that if you apply in time to begin within 3 years of the completion of your Bachelor’s degree, you have legal right of admission to the Master's programme)
Required GPA	Bachelor’s: CGPA of 2.5 or equivalent (may vary by program).
GRE Required	No. GRE scores are not listed as an admission requirement; admission is based on a relevant bachelor's degree, programme-specific requirements and proof of English proficiency.
GMAT Required	No. GMAT scores are not listed as an admission requirement for this programme.
Application Process	Application Process: University Application Documents • Completed university application form • All academic transcripts (officially translated into English or Danish) • Passport/Travel document • ID Photo • CV • LoM / SOP (Letter of Motivation / Statement of Purpose) • Proof of English/Danish language proficiency • Proof of financial support • Any other required documents depending on the University (e.g., references, medical certificates) 2. Attestation & Legalization (For Visa ONLY – Not for University Application) • Legalization of educational documents is a must for Visa Apply not for applying in University. (Depends case to case) • Attestation from IBCC, HEC and MOFA is also mandatory for Visa application but not for applying in university. (Depends case to case) 3. Visa Fee & Financial Requirements • Visa fee: 334 Euros • Bank Statement: 11k Euros • Bank statement age: 6 months old • Sponsor: Self or Parents
Available Scholarships	https://studyabroadupdates.com/danish-government-scholarship/
Program accreditation	The University of Copenhagen holds a positive institutional accreditation from the Danish Accreditation Institution (decision of February 2025, valid until 2031), so its degree programmes are quality-assured and state-recognised within the Danish higher education system. The programme page lists no separate programme-specific accreditation.
Living expenses	Living Expenses in Denmark • Monthly Budget: Generally ranges from DKK 6,000 to DKK 10,000 (~€800 to €1,350). Copenhagen is significantly more expensive than regional cities. • Upfront Costs: Expect a heavy initial cash layout—landlords frequently require 3 months of rent as a deposit plus the first month's rent upfront. • Visa Proof of Funds: You must show access to roughly €11,000 to €13,000 in a bank account under your name to satisfy SIRI visa requirements for the first year. • Perk: Public healthcare is 100% free once you receive your CPR number.
Visa Process Details	Visa Checklist 1. Paper/Online Application Form (Online Preferred) 2. SIRI Processing Fee Receipt 3. Travel Document / Passport 4. Previous Visa History Documents (if any) 5. Recent ID Photos (recent, white background, no headwear) 6. All Academic Transcripts 7. Previous Work Experience (if any) 8. Original CNIC & Family Registration Certificate issued by NADRA (in English) 9. Police Character Certificate 10. Medical and Travel Insurance (covers €30,000 in Schengen Area) 11. Proof of English/Danish Language Proficiency (IELTS or TOEFL) 12. Verification of payment for studies provided by the educational establishment 13. Proof of Accommodation and Flight Reservation (both ways) 14. LOM / SOP 15. Financial Means Proof: Bank statement for the last six months in your own name or your guardian's name, containing funds to support your stay – €914 per month. You must multiply the amount by the number of months you will be studying in a higher educational program in Denmark (for a maximum of 12 months, approximately €11,000). However, the bank statement must not be older than 30 days. 16. The Consular might ask for additional documents if found necessary.
Part timework	Part-Time Work in Denmark • Hours: Non-EU students can work up to 90 hours per month during semesters and full-time in June, July, and August. • Average Pay: High hourly wages, typically DKK 130 to DKK 200 (~€17 to €27) depending on the sector. • Essentials: Requires a CPR number (residence registration), a NemKonto (bank account), and a Tax Card (Skattekort) to avoid a default 55% tax rate.
Post-study work opportunity	Post-Study Work Opportunities • 3-Year Job-Seeking Permit: Automatically granted or easily accessible upon graduating from an accredited Danish higher education program. • Work Rights: You can continue working part-time (90 hours/month) while searching for a career-level role. • Switching to a Full Work Visa: Once you find a full-time professional job, you can transition smoothly into a regular work permit via fast-track systems like the Pay Limit Scheme (minimum salary requirement applies) or the Positive List (shortage occupations).

What are the admission requirements for the Master's in Actuarial Mathematics at the University of Copenhagen?

To apply for admission, you must have completed a qualifying bachelor's degree in a relevant field, such as Actuarial Science, Mathematics, Statistics, or Engineering with strong emphasis on mathematics. Additionally, you must document your English language proficiency unless you hold a bachelor's degree that provides legal right of admission.

What is the fee structure for the Master's program in Actuarial Mathematics?

The annual tuition fee for the program is 130,000 DKK. There is also an application fee of 750 DKK.

What is the structure of the Master's program in Actuarial Mathematics?

The program is structured over two years, consisting of compulsory courses in the first year and a mix of compulsory and elective courses in the second year. Students can also engage in a Project in Practice or work on a thesis related to insurance.

Can international students work while studying in Denmark?

Yes, non-EU students can work up to 90 hours per month during semesters and full-time during June, July, and August. Students must obtain a CPR number, a NemKonto, and a Tax Card to manage their earnings.

What opportunities are available for post-study work after completing the master's program?

Graduates are automatically granted a three-year job-seeking permit and can work part-time while searching for career-level positions. They can transition to a full work visa once they secure a full-time job.