Actuarial Science Syllabus 2026: Check Semester-wise Syllabus & Subjects

Actuarial Statistics 

The essential features of statistical distributions and principles of statistical inference are covered in this subject. 

Actuarial Mathematics 

It covers the basic principles and related theories of actuarial modelling.  

Business Finance 

A basic understanding of corporate finance, managing financial risks, and related concepts is provided to the students. 

Business Management 

The basic principles of business management are discussed in this subject. 

Risk Modelling & Survival Analysis

The students get acquainted with the use of statistical distributions for risk modelling, techniques of survival analysis and their applications, etc. 

Financial Engineering & Loss Reserving

The theories of behaviour of financial markets, benefits of measures of investment risk and their disadvantages, asset evaluation, liability valuations, and other concepts are included in it. 

Business Economics 

The core economic principles and their applications in the business environment are covered along with the fundamental concepts of microeconomics and macroeconomics. 

Actuarial Practice 

The Actuarial Practice focuses on teaching the students how to apply the knowledge they acquired through Actuarial Modelling, Actuarial Statistics, and other business subjects in solving real-world business issues. 

Modelling Practise 

The focus areas of this subject are making the students undertake data analysis and visualisation projects and creating an actuarial model to resolve a real-world business problem. 

Communications Practise

This subject teaches the students how to choose language and communication methods to convey technical concepts to a non-technical audience.

Health & Care 

It explains how the actuarial techniques of management are relevant to the healthcare sector. 

Pension & other benefits 

The actuarial principles related to business management and planning and their applications in the management of pension and other benefits are included in this subject. 

Financial Derivatives 

Financial derivative management and its uses in different industries are explained in it. 

General Insurance - Pricing

It explains the applications of actuarial practice in the field of general insurance and also provides recommendations for pricing for a general insurance business. 

Life Insurance 

The market for life insurance services and products and the business environment are discussed in this subject. 

Investment & Finance 

The applications of actuarial management techniques in the field of investment and finance are covered in it. 

General Insurance Reserving and Capital Modelling 

The methods and principles involved in capital modelling and reserving in the general insurance business are covered in this subject. 

Economics 

• Microeconomics and macroeconomics
• Fundamentals of economic planning 
• Forecasting 

The techniques used in predicting or forecasting economic conditions are covered in this specialisation. 

Finance 

• Financial management 
• Risk evaluation 
• Finance modelling

It covers the different aspects in finance modelling, risk evaluation in terms of finance, and management of finances. 

Health Administration 

• Healthcare issues 
• Data interpretation 
• Significance of data analysis

How data plays an integral role in healthcare administration is covered in this specialisation.

Insurance 

• Insurance pricing
• Types of insurance 
• Insurance business 

How to run an insurance business and different types of insurances are integrated in its syllabus. 

Ecommerce & Digital Marketing 

• Ecommerce platforms 
• Digital marketing 
• Forecasting and planning 

How data predicting tools and techniques are employed in e-commerce and digital marketing practices are covered in it. 

Data Analytics & Predictive Algorithms

• Predictive algorithms 
• Data collection and analysis
• Statistical methods used for collecting data 

It talks on data analytics and techniques used for collecting, interpreting, and understanding the data.

Business Consulting 

• Business practises
• Attributes of an entrepreneur 
• Business support and consultation 

This specialisation talks on how business consultation can help to streamline businesses. 

Complex Analysis 

Complex Variables and Applications - 4th Edition 

R. V. Churchill and J. W. Brown

The different concepts like transformations, integral evaluations, etc. are covered in this book. 

Real Analysis

Mathematical Analysis - 2nd Edition 

Tom. M. Apostle 

It includes concepts like compact metric spaces, Riemann Integral, continuous functions, etc. 

Abstract Algebra

Linear Algebra

Shama JN and Vashistha 

The basic concepts of linear algebra are described in this book. 

Abstract Algebra

A First Course in Abstract Algebra 

John B Fraleigh 

It is an ideal book for beginners who want to understand the basics of abstract algebra. 

Financial Mathematics 

Actuarial Mathematics 

Bowers & Newton 

The concepts related to financial mathematics and their applications in actuarial science are covered in this book.

Real Analysis

Methods of Real Analysis

Goldberg R. 

The concepts like axioms, sequences, and series are explained well in this book.

Abstract Algebra

Topics in Algebra

Anton H and C. Rorres

It includes the topics and fundamental theorems of Linear Algebra.

Abstract Algebra

Elementary Linear Algebra 

Herstein I. N. 

The elementary concepts of Linear Algebra are included in it. 

Mortality and Markov Chains

Actuarial Mathematics for Life Contingent Risks 

David Dickson, Mary Hardy, and Howard Waters

The concepts like life contingency, laws of mortality, etc. are introduced in this book. 

Basics of Life Contingencies 

Life Insurance Mathematics 

Gerber and Hans U. 

It talks about simple assurance, annuity benefits, and other related concepts.