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Actuarial Science

Predict the future — without a crystal ball.

How will the stock market perform next February? How much will insurance companies pay out in claims next year? With an Actuarial Science degree from Waterloo, you’ll have the answers.

In this program, you'll take courses such as the mathematics of finance, risk theory, and pension mathematics taught by professional actuaries in one of North America’s top actuarial schools.

Meanwhile, adding computer science, arts, and various math electives will give you the combination of technical and communication skills that employers are looking for.

Whether you choose the regular stream or the co-op stream, you'll graduate ready to enter a great job market with great prospects and high starting salaries.

Skip the professional exams

Because the Canadian Institute of Actuaries has accredited Waterloo’s Actuarial Science program, you can be exempted from several of their exams.

Social and academic support

Through the student-run Actuarial Science Club, you can find a mentor, get career advice, or meet new friends over board games and bubble tea.


Waterloo calculator

Focus your studies by adding an option in Finance or Predictive Analytics, preparing you for careers in business, insurance, and finance. 

About the Actuarial Science program

BreifAvailable as a co-op and regular program

ClickApply via Mathematics and choose Actuarial Science as your major

CapEarn a Bachelor of Mathematics in Actuarial Science  


#11st Faculty of Mathematics in North America

math tieOffered by the Faculty of Mathematics

globeWaterloo is an international leader in Mathematics


Actuarial Science admission requirements

We strongly encourage you to participate in the Canadian Senior Mathematics Contest and/or the Euclid Mathematics Contest to enhance your admissions status.  

To be considered for entrance scholarships in the Faculty of Mathematics, you must write one or both of the contests. If you complete both contests, we'll use the results of the contest in which you performed best.

First-year Actuarial Science courses

You may also select advanced-stream courses for algebra, calculus, and computer science if you meet the requirements.

September to December

MATH 135 - Algebra 
MATH 137 - Calculus 1
Choose 1 of:
 • CS 115 - Introduction to Computer Science 1
 • CS 135 - Designing Functional Programs
MTHEL 131 - Introduction to Actuarial Practice 
1 communication skills course

January to April

MATH 136 - Linear Algebra 1 
MATH 138 - Calculus 2 
Choose 1 of:
 • CS 116 - Introduction to Computer Science 2
 • CS 136 - Algorithm Design and Data Abstraction
2 electives*

*Note: You're encouraged to take AFM 101ECON 101, or ECON 102 as first-year electives to satisfy the degree requirements for Actuarial Science.

After first year

The majority of your required courses will be actuarial science courses with additional courses in statistics and mathematics. With your remaining classes, you can choose electives from many of the 100 subject areas at Waterloo.

View a list of all the courses required for your degree.

Sample upper-year courses 

ACTSC 371 – Introduction to Investments
ACTSC 372 – Corporate Finance
ACTSC 453 – Basic Pension Mathematics
ACTSC 455 – Advanced Life Insurance Practice


Customize your Bachelor of Mathematics degree in Actuarial Science

You can also add additional areas of interest and expertise by including a minor (or minors) as part of your degree.

Gain relevant work experience through co-op

By alternating school terms and paid co-op work terms throughout your degree, you can explore new career areas and types of employers as your career interests evolve.

Sample co-op job titles

  • Finance and accounting analyst
  • Web solutions developer/technical analyst
  • Defined benefits pension administrator
  • Programmer enterprise portfolio management
  • Actuarial analyst
  • Data scientist
  • Insurance associate

Sample co-op employers

  • Parmalat Canada
  • PricewaterhouseCoopers LLP
  • Morneau Shepell
  • Canada Life Financial Corporation
  • Intact Financial Corporation
  • London Life Insurance Company
  • Munich Reinsurance Company

Careers in Actuarial Science

  • Actuarial Supervisor, Manulife Indonesia
  • Business Assessment Analyst, AEGON
  • Actuarial Analyst, Swiss Re Life & Health Canada
  • Actuarial Analyst, Canadian Media Production Association
  • Valuation Team Lead, Manulife Financial
  • Actuary, AIG Global Investment 
  • Actuarial Consultant/Analyst, Mercer Oliver Wyman
  • Actuarial Executive, Prudential Assurance Company Singapore 

Learn more about Actuarial Science