BSc Actuarial Science

  • Undergraduate
  • Department of Statistics
  • UCAS code BSc Actuarial Science: N321; BSc Actuarial Science (with a Placement Year): N322
  • Starting 2024
  • Home full-time: Closed
  • Overseas full-time: Closed
  • Location: Houghton Street, London

If you have enjoyed studying mathematics at A level (or equivalent) and are interested in the applications of statistics to the social sciences, business and finance, then this could be the programme for you.

Actuarial science applies mathematical skills to the social sciences to solve important problems for insurance, government, commerce, industry and academic researchers.

The BSc Actuarial Science programme has a heavy mathematical and statistical component. It is accredited by the Institute of Actuaries and courses taken as part of the degree can lead to exemptions. 

Many students arrange internships in actuarial and financial firms or placement companies with help from LSE Careers or the Department of Statistics. Recent graduates from the programme have gone on to work in the areas of insurance (life and general), as well as banking, finance and statistics.

We also offer this programme with a placement year: BSc Actuarial Science (with a Placement Year).

A Placement Year offers a range of benefits including:

  • Enhancing your employment prospects
  • Offering you an insight into the ‘world of work’  and opportunity to apply knowledge and skills gained during the first and second year of the programme in a real-world setting
  • Adding invaluable work experience to your CV which is attractive to graduate employers
  • Providing the opportunity to work with a more diverse group of people
  • Developing your interpersonal and professional skills further in many areas including time management, communication, project work, working in a team, problem solving, and complex decision making

Visit the Department of Statistics Virtual Undergraduate Open Day page to find out more about studying in the department, access virtual resources and watch event recordings from our Virtual Undergraduate Open Day. 

Programme details

Key facts

Academic year (2024/25) 30 September 2024 - 20 June 2025
Application deadline 31 January 2024
Duration BSc Actuarial Science: three years full-time; BSc Actuarial Science (with a Placement Year): four years full-time
Applications/places/ratio 2022 461/82/6:1

For information about tuition fees, usual standard offers and entry requirements, see the sections below.

Entry requirements

Below we list our entry requirements in terms of GCSEs, A-Levels (the entry requirements should be read alongside our A-level subject combinations information) and the International Baccalaureate (IB) Diploma. We accept a wide range of other qualifications from the UK and from overseas.

A strong set of GCSE grades including several at A (or 7) and A* (or 8-9)
GCSE English and Mathematics grades should also be no lower than B (or 6)
We also consider your overall GCSE subject profile

AAA, with an A in Mathematics
We also consider your AS grades, if available.

Contextual admissions A-level grades**
AAB with an A in Mathematics

IB Diploma
38 points overall, with 766 in higher level subjects, including Mathematics.

Contextual admissions IB grades**
37 points overall, with 666 in higher level subjects, including Mathematics.

*Read our A-level subject combinations information below.

**Read our UG Admissions Information to learn more about contextual admissions.

 A-level subject combinations

  • Mathematics at A-level or equivalent is required, and Further Mathematics at least at AS level is highly desirable.
  • The programme is highly quantitatively oriented, and quantitatively oriented A-level courses such as Physics or Chemistry form good preparations for the programme but are not required.
  • Good marks for any quantitative courses at GCSE level are also desirable.

Find out more about A-level subject combinations.

Competition for places at LSE

Competition for places at the School is high. This means that even if you are predicted or if you achieve the grades that meet our usual standard offer, this will not guarantee you an offer of admission. Usual standard offers are intended only as a guide, and in some cases applicants will be asked for grades which differ from this.

Assessing your application

We welcome applications from all suitably qualified prospective students and want to recruit students with the very best academic merit, potential and motivation, irrespective of their background. The programme guidance below should be read alongside our general entrance requirements information.

We carefully consider each application on an individual basis, taking into account all the information presented on the UCAS application form, including your:

- academic achievement (including predicted and achieved grades)
- subject combinations
- personal statement
- teacher’s reference
- educational circumstances

You may also have to provide evidence of your English proficiency, although you do not need to provide this at the time of your application to LSE. See our English language requirements page.

Personal statement

In addition to demonstrating the above personal characteristics, skills and attributes, your statement should be original, interesting and well-written and should outline your enthusiasm and motivation for the programme.

You should explain whether there are any aspects of particular interest to you, how this relates to your current academic studies and what additional reading or relevant experiences you have had which have led you to apply. We are interested to hear your own thoughts or ideas on the topics you have encountered through your exploration of the subject at school or through other activities. Some suggestions for preliminary reading can be found below, but there is no set list of activities we look for; instead we look for students who have made the most of the opportunities available to them to deepen their knowledge and understanding of their intended programme of study.

You can also mention extra-curricular activities such as sport, the arts or volunteering or any work experience you have undertaken. However, the main focus of an undergraduate degree at LSE is the in-depth academic study of a subject and we expect the majority of your personal statement to be spent discussing your academic interests.

Please also see our general guidance about writing personal statements.

Fees and funding

Every undergraduate student is charged a fee for each year of their programme.

The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.

Tuition fees

Home students:

The 2024 tuition fee for new Home students is £9,250 per year. The Home student undergraduate fee may rise in line with inflation in subsequent years.

Home students starting the BSc Actuarial Science (with a Placement Year) in 2024/25, the fee for the placement year is £1,850 (provisional). 

Overseas students:

The 2024 tuition fee for international students is £27,192. The overseas tuition fee will remain at the same amount for each subsequent year of your full-time study regardless of the length of your programme. This information applies to new overseas undergraduate entrants starting their studies from 2024 onwards.

Overseas students starting the BSc Actuarial Science (with a Placement Year) in 2024/25, the fee for the placement year is £5,448.

The Table of Fees shows the latest tuition amounts for all programmes offered by the School. 

Fee status

The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.

Further information about fee status classification

Scholarships, bursaries and loans

The School recognises that the cost of living in London may be higher than in your home town or country. LSE provides generous financial support, in the form of bursaries and scholarships to UK, EU and overseas students. 

In addition, UK Government support, in the form of loans, is available to UK and some EU students. Some overseas governments also offer funding.

Further information on tuition fees, cost of living, loans and scholarships

Information for international students

LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do. 

If you are applying to LSE from outside of the UK then take a look at our Information for International students.

1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page).

2) Go to the International Students section of our website.

3) Select your country.

4) Select ‘Undergraduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page.

Programme structure and courses

The degree involves studying courses to the value of 12 units over three years, plus LSE100. 

The BSc Actuarial Science, BSc Mathematics, Statistics, and Business and BSc Financial Mathematics and Statistics programmes have similar first year courses, and you may be able to move between these degrees in your second year, if you would like to.

The BSc Actuarial Science (with a Placement Year) runs for four years with a placement year in Year 3. The programme structure of the other years remains the same.

First year

In your first year, you will take two compulsory courses in mathematics and statistics. You will also take microeconomics and macroeconomics. In addition, you will also take LSE100.

(* denotes a half unit course)

Elementary Statistical Theory
This is a theoretical statistics course which is appropriate whether or not your A level Mathematics course included statistics. It forms the basis for later statistics options.

Mathematical Methods
This is an introductory-level "how to do it" course designed to prepare you for using mathematics seriously in the social sciences, or any other context.

Microeconomics I*
This course provides a foundation to help students understand key microeconomic questions using a variety of approaches including quantitative methods

Macroeconomics I*
This course provides a foundation to help students understand key macroeconomic questions using a variety of approaches including quantitative methods.

Courses to the value of one unit from the following:

Introduction to Abstract Mathematics  
Introduces you to rigorous mathematical thinking and is strongly recommended for first-year students.

Elements of Financial Accounting*

Elements of Management Accounting, Financial Management and Financial Institutions*

Mathematical Proof and Analysis*

Programming for Data Science*

A half unit, running across Autumn and Winter Term in the first year, LSE100 is compulsory for all LSE undergraduate students. This innovative and interactive course is designed to build your capacity to tackle multidimensional problems as a social scientist through interdisciplinary, research-rich education.

Second year

In your second year you will take two compulsory full-unit courses, two compulsory half-unit courses. You will also choose an outside option from a wide range of courses, or alternatively you can do an applied statistics project. 

Probability, Distribution Theory and Inference
Develops your knowledge of probability and statistics beyond the first-year course. It will also provide the probability and statistics basis for all third-year courses.

Further Mathematical Methods (Calculus)*

Further Mathematical Methods (Linear Algebra)*

Actuarial Investigations: Financial*
This is a course on compound interest techniques from an actuarial viewpoint.

Survival Models*
An introduction to actuarial mathematics and statistics.

Courses to the value of one unit in accounting, economic history, finance, mathematics, psychological and behavioural science or an outside option approved by the Department.

Third year

In your third year you will take three compulsory courses, and will choose options to the value of two units from an approved list. Previous options have included Regression and Generalised Linear Models, Bayesian Inference, and Stochastic Simulation.

Stochastic Processes*
Explores stochastic processes and applications to insurance.

Actuarial Mathematics: Life* 
An introduction to the theory and techniques of life insurance and pensions.

Stochastic and Actuarial Methods in Finance (or option)
Offers applications of stochastic processes and actuarial models in finance.

Options to the value of two units from an approved list

For the most up-to-date list of optional courses please visit the relevant School Calendar page

Where regulations permit, you may also be able to take a language, literature or linguistics option as part of your degree. Information can be found on the Language Centre webpages.

You must note, however, that while care has been taken to ensure that this information is up-to-date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises.

You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s Calendar, or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the updated undergraduate course and programme information page.

Teaching and assessment


Format and contact hours: You will usually attend a mixture of lectures and related classes, seminars or workshops totalling between 10 and 15 hours per week. Hours vary according to courses and you can view indicative details in the Calendar within the Teaching section of each course guide

Independent study: You are also expected to complete independent study outside of class time. This varies depending on the programme, but requires you to manage the majority of your study time yourself, by engaging in activities such as reading, note-taking, thinking and research.

LSE teaching: LSE is internationally recognised for its teaching and research and therefore employs a rich variety of teaching staff with a range of experience and status. Courses may be taught by individual members of faculty, such as lecturers, senior lecturers, readers, associate professors and professors. Many departments now also employ guest teachers and visiting members of staff, LSE teaching fellows and graduate teaching assistants who are usually doctoral research students. You can view indicative details for the teacher responsible for each course in the relevant course guide.

Academic support

Academic mentor: Your academic mentor will be available to offer general guidance and assistance with both academic and personal concerns, and you will be expected to meet them every term. The Mathematics and Statistics Support Centre provides additional help with first year quantitative courses. You can also join the student-run Maths and Stats Society and Actuarial Society for programme-related activities and for getting to know your classmates better.

Other academic support: There are many opportunities to extend your learning outside the classroom and complement your academic studies at LSE. LSE LIFE is the School’s centre for academic, personal and professional development. Some of the services on offer include: guidance and hands-on practice of the key skills you will need to do well at LSE: effective reading, academic writing and critical thinking; workshops related to how to adapt to new or difficult situations, including development of skills for leadership, study/work/life balance and preparing for the world of work; and advice and practice on working in study groups and on cross-cultural communication and teamwork.

Disability and Wellbeing Service: LSE is committed to enabling all students to achieve their full potential and the School’s Disability and Wellbeing Service provides a free, confidential service to all LSE students and is a first point of contact for all disabled students.

Your timetable

  • The standard teaching day runs from 09:00-18:00; Monday to Friday. Teaching for undergraduate students will not usually be scheduled after 12:00 on Wednesdays to allow for sports, volunteering and other extra-curricular events. 
  • The lecture and seminar timetable is published in mid-August and the full academic timetable (lectures/seminars and undergraduate classes) is published by mid-September and is accessible via the LSE Timetables webpages.
  • Undergraduate student personal timetables are published in LSE for You (LFY). For personal timetables to appear, students must be registered at LSE, have successfully signed up for courses in LFY and ensured that their course selection does not contain unauthorised clashes.
  • Every effort is made to minimise changes after publication, once personal timetables have been published any changes are notified via email.


Formative unassessed coursework:

All taught courses are required to include formative coursework which is unassessed. It is designed to help prepare you for summative assessment which counts towards the course mark and to the degree award. LSE uses a range of formative assessment, such as essays, problem sets, case studies, reports, quizzes, mock exams and many others. 

Feedback on coursework is an essential part of the teaching and learning experience at the School. Class teachers must mark formative coursework and return it with feedback to you normally within two weeks of submission (when the work is submitted on time).

Summative assessment (assessment that counts towards your final course mark and degree award):

Summative assessment for most courses is by a three-hour examination in June. A small number of courses are assessed by project work. The class of degree you will attain is based on the assessment over all three years, with the emphasis on marks gained in the second and third years. Please note that assessment on individual courses can change year to year. An indication of the current formative coursework and summative assessment for each course can be found in the relevant course guide.

You will also receive feedback on any summative coursework you are required to submit as part of the assessment for individual courses (except on the final version of submitted dissertations). You will normally receive this feedback before the examination period. 

Find out more about LSE’s teaching and assessment methods

Research internship scheme

Research projects are carried out in collaboration with two 3rd year undergraduate students each year. These projects are aimed at supervising and developing an undergraduate student’s interest in research.

The projects which were carried out in 2017, 2018 and 2019 ran from Monday 8th June – Friday 31st August and during that time the two undergraduate research assistants completed 100 hours of paid work.

The research paper that was produced in 2017 recently appeared in the internationally recognised European Actuarial Journal, was presented in the Statistics Department in November 2017 and at the 10th International Conference on Computational and Methodological Statistics, which was hosted by the University of London in December 2017.

Furthermore, the project was produced in 2018, was presented in the Statistics Department in November 2018 and at the 11th International Conference on Computational and Methodological Statistics which was hosted by the University of Pisa in December 2018 and was accepted for publication in Annals of Actuarial Science.

Finally the research project that was carried out this year will be presented in the Department of Statistics in November and has already been accepted for presentation at the 12th International Conference on Computational and Methodological Statistics which was hosted by the University of London in December 2019.

For more details please visit our Statistics Research Internships page

Practitioners challenge

Each year, we organise the Department of Statistics Practitioners' Challenge for BSc and MSc students. During this event, we collaborate with leading industry partners to initiate competitive projects focusing on real issues faced by companies.

Students who take on the challenge use their personal and professional skills developed through their programme at LSE. During the project, led by Dr Gelly Mitrodima, we collaborate with leading industry partners. In the past we have worked with Aviva, JP Morgan, UBS, and QBE. Companies propose a problem, from insurance to data science and students form teams in order to apply their interest for their preferred challenge. The teams are then selected from the companies through an interview process and they start working on their approach to the challenge.

For more details please visit our information page on the Practitioners Challenge.

Student support and resources

We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.

Whatever your query, big or small there are a range of people you can speak to and who will be happy to help.

Academic mentors – an academic member of staff who you will meet with at least once a term and who can help with any academic, administrative or personal questions you have. (See Teaching and assessment).

Academic support librarians – they will be able to help you navigate the library and maximise its resources during your studies.

Accommodation service  - they can offer advice on living in halls and offer guidance on private accommodation related queries.

Class teachers and seminar leaders – they will be able to assist with queries relating to a specific course you are taking.

Disability and Wellbeing Service – the staff are experts in long term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as student counselling, a peer support scheme, arranging exam adjustments and run groups and workshops.

IT help – support available 24 hours a day to assist with all of your technology queries.

LSE Faith Centre – home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.  

Language Centre – the centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in 9 languages; proofreading, translation and document authentication and language learning community activities.

LSE Careers ­- with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your future career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights.

LSE Library - Founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and it’s a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide.

LSE LIFE – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom, offer one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision, and provide drop-in sessions for academic and personal support. (See ‘Teaching and assessment).

LSE Students’ Union (LSESU) – they offer academic, personal and financial advice and funding.

Sardinia House Dental Practice - offers discounted private dental services to LSE students.

St Philips Medical Centre - based in Pethwick-Lawrence House the centre provides NHS Primary Care services to registered patients.

Student Services Centre – our staff here can answer general queries and can point you in the direction of other LSE services.

Student advisers – we have a Deputy Head of Student Services (Advice and Policy) and an Adviser to Women Students who can help with academic and pastoral matters.


Student life

As a student at LSE you’ll be based at our central London campus. Find out what our campus and London have to offer you on academic, social and career perspective.

Student societies and activities 

Your time at LSE is not just about studying, there are plenty of ways to get involved in extracurricular activities. From joining one of over 200 societies, or starting your own society, to volunteering for a local charity, or attending a public lecture by a world-leading figure, there is a lot to choose from.

The campus

LSE is based on one campus in the centre of London. Despite the busy feel of the surrounding area, many of the streets around campus are pedestrianised, meaning the campus feels like a real community.

Life in London

London is an exciting, vibrant and colourful city. It's also an academic city, with more than 400,000 university students. Whatever your interests or appetite you will find something to suit your palate and pocket in this truly international capital. Make the most of career opportunities and social activities, theatre, museums, music and more.

Want to find out more? Read why we think London is a fantastic student city, find out about key sights, places and experiences for new Londoners. Don't fear, London doesn't have to be super expensive: hear about London on a budget.

Student stories

Anthony Waring

BSc Actuarial Science
Kirkham, UK


The main enjoyment of my programme has been the technical ability I have developed, which has been very demanding but also incredibly intellectually rewarding. I have especially enjoyed how the statistical content of this course overlaps between courses, enabling me to understand new concepts more deeply. During the summer I undertook an internship placement in the Actuarial and Planning department at Allianz and have subsequently been offered a placement in their graduate training programme after I have completed my degree.

Djelila Delior

BSc Actuarial Science

Watch Djelila's video

Preliminary reading

The following documentary gives an insight into the exciting world of statistics:
The Joy of Stats:

For an introduction to mathematics as it is applied in economics and finance, we recommend:

M Anthony and N Biggs Mathematics for Economics and Finance (Cambridge University Press, 1996)

Much of university level mathematics and statistics is concerned with formal proofs and  rigorous mathematical argument and this is  necessary for some of the advanced mathematics required in finance, economics and other fields of application. For an introduction, we recommend: 

R Allenby Numbers and Proofs (Butterworth- Heinemann, 1997)

P Eccles An Introduction to Mathematical Reasoning (Cambridge University Press, 1997)

T Gowers Mathematics: a very short introduction  (Oxford University Press, 2002)

D Hand Statistics: a very short introduction  (Oxford University Press, 2008)

M Liebeck A Concise Introduction to Pure Mathematics (Chapman & Hall/CRC Mathematics, 2005)


Quick Careers Facts for the Department of Statistics

Median salary of our UG students 15 months after graduating: £37,000

Top 5 sectors our students work in:

  • Financial and Professional Services
  • Accounting and Auditing
  • Consultancy
  • Insurance
  • FMCG, Manufacturing and Retail

The data was collected as part of the Graduate Outcomes survey, which is administered by the Higher Education Statistics Agency (HESA). Graduates from 2019-20 were the third group to be asked to respond to Graduate Outcomes. Median salaries are calculated for respondents who are paid in UK pounds sterling and who were working in full-time employment.

Graduates from the programme will be able to work on a range of financial services organisations from companies which operate in the life and general insurance sector through to accounting firms, specialist actuarial consultancies, investment banks , data analytics, statistics, civil service and graduate studies.

This programme is accredited by the Institute of Actuaries and courses taken as part of the degree can lead to exemptions.

More on undergraduate programme accreditation and exemptions
Further information on graduate destinations for this programme

Support for your career

Many leading organisations give careers presentations at the School during the year, and LSE Careers has a wide range of resources available to assist students in their job search.

Accreditation and exemptions


  • Accredited by the Chartered Institute of Management Accountants (CIMA) for the purpose of exemption from some professional examinations through the Accredited degree accelerated route.
  • Accredited by the Institute and Faculty of Actuaries (IFoA) for the purpose of exemption from some professional examinations.


Entry into the actuarial profession can be achieved by our BSc Actuarial Science students, as the programme is fully accredited by the Institute and Faculty of Actuaries (IFoA). Students have the potential to be granted exemptions for the IFoA subjects CS1, CS2, CM1, CM2, CB1 and CB2.

Please find further information on accreditation and exemptions on our Undergraduate programme accreditation and exemptions webpage.

Find out more about LSE

Discover more about being an LSE student - meet us in a city near you, visit our campus or experience LSE from home.

Experience LSE from home 

Webinars, videos, student blogs and student video diaries will help you gain an insight into what it's like to study at LSE for those that aren't able to make it to our campus. Experience LSE from home.

Visit LSE

Come on a guided campus tour, attend an undergraduate open day, drop into our office or go on a self-guided tour. Find out about opportunities to visit LSE.

LSE visits you

Student Marketing, Recruitment and Study Abroad travels throughout the UK and around the world to meet with prospective students. We visit schools, attend education fairs and also hold Destination LSE events: pre-departure events for offer holders. Find details on LSE's upcoming visits.

Discover Uni data

Every undergraduate programme of more than one year duration will have Discover Uni data. The data allows you to compare information about individual programmes at different higher education institutions.

Please note that programmes offered by different institutions with similar names can vary quite significantly. We recommend researching the programmes you are interested in and taking into account the programme structure, teaching and assessment methods, and support services available.

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