School of Economics and Finance

ECOM078 - Actuarial Finance and Insurance

The module focuses on the modern technical and practical aspects of today's actuarial profession. Key topics include an overview of the changes to the regulatory landscape since the financial crisis, capital adequacy (both economic and regulatory capital), and ALM (asset-liability management). The course would significantly enhance student employability both on the ‘buy side’ (e.g. insurance companies, asset managers) and the ‘sell side’ (e.g. banks’ insurance facing desks, consultancy / financial services firms), as well as regulatory bodies and central banks.

In addition, there will be an optional quantitative component, for the students wishing to drill further into the more quantitative/computational elements, especially around the risk management aspects, the pricing of correlated assets (e.g. derivatives, bonds, property) and liabilities, and the practical techniques for hedging and managing credit & counterparty risk e.g. via the use of CDS (credit default swaps). Pursuing this optional element would also enhance student employability in the more traditional banking sector job areas: risk management, model validation, and derivatives structuring.