Executive MA in Actuarial Science

“Actuaries are recognized for their authoritative advice and valued comment wherever there is financial risk and uncertainty.”

(Casualty Actuarial Society)

LAU makes a pioneering step into the highly regarded study of actuarial science, offering an Executive Master in Actuarial Science (EMAAS) to prepare professionals and students to enter the field of risk management.

What is an Actuary?

Actuaries are risk management experts who use mathematics, financial theory, probability, and statistics to predict the likelihood of events and create innovative solutions to minimize risk and its impact. They are creative thinkers, problem solvers, analysts and experienced business professionals with a wide understanding of financial structures.

Overview

In response to a regional demand in the insurance industry, LAU, supported by Medgulf, leads the way with the first Executive Master in Actuarial Science in the Middle East. If you are working in the field of insurance or finance and want to advance your career, our EMAAS offers the highest level of executive education and training that can be combined with a full-time career. We provide the solid academic core and deep understanding of the market to prepare you for a successful career as an actuary.

Admission requirements

Candidates for admission will normally be holders of BS in Mathematics, BA/BS in Economics or a BS in Business. Other applicants with solid backgrounds in quantitative and computational skills (such as engineers, holders of a BS in Computer Science) will be considered. As this is a professional program, neither the GRE nor the GMAT will be admission criteria. General university admission requirements are explicitly stated in the graduate admissions page.

Curriculum

The credits are divided into two categories: 27 core credits and 9 specialized credits that allow students to concentrate on either Insurance Management or Actuarial Mathematics.

The program offers 1-credit, 1.5-credit, 2-credit, or 3-credit courses. Each credit is equivalent to 14 hours offered on evenings or on Saturdays at the new LAU Executive Center at Solidere or on the Beirut campus. No prerequisites are required for the courses. Students can enroll in any course at any time during the year.

Courses are scheduled in a way so that students earn the EMAAS in two years.

I. Core requirements (14 credits)

Number	Course	Cr
ACT711	Actuarial Statistics I	3
ACT712	Introductory Financial Mathematics	1.5
ACT721	Risk Management	3
ACT722	Group Life and Health Insurance	3
ACT723	Individual Life and Annuity Insurance	2
ACT724	Insurance Ethics	1.5

II. Electives (13 credits)

Number	Course	Cr
ACT725	Takaful Mechanism	1
ACT726	Innovation Discipline in Insurance	1
ACT727	Insurance Laws and Insurance Intermediaries	2
ACT728	Insurance Compliance and Corporate Governance	1
ACT731	Business Analytics for Executive	1.5
ACT732	Executive Operations Management	1.5
ACT733	Strategic Marketing	1.5
ACT734	Executive Leadership and Communication Skills	1.5
ACT735	Accounting for Executives	1.5
ACT736	Corporate Financial Strategy	1.5
ACT738	Duration and Cashflow Matching for Insurance	1
ACT741	Pension Funds	1
ACT742	Introduction to Life and Non-life Reserving	2
ACT746	Valuation of Insurance Portfolios	1
ACT798	Topics in Actuarial Science	1.5

 III. Concentration Area (9 credits)

A. Actuarial Mathematics

Number	Course	Cr
ACT743	Actuarial Mathematics	3
ACT744	Actuarial Statistics II	3
ACT799A	Case Studies in Actuarial Mathematics	3

B. Insurance Management

Number	Course	Cr
ACT754	Property, Liability and Other Lines	3
ACT755	Personal Auto Policy	2
ACT756	Claims Management / Insurance Fraud	1
ACT799B	Case Studies in Insurance Management	3

Some of the courses in the EMAAS program are cross-listed with the Executive MBA program. Please find a list of these courses below.

Actuarial Science Course		EMBA Course
ACT731	Business Analytics for Executives	QBA730	Business Analytics for Executives
ACT732	Executive Operations Management	OPM711	Executive Operations Management
ACT733	Strategic Marketing Research	MKT725	Strategic Marketing Research
ACT734	Executive Leadership & Communication Skills	MGT751	Executive Leadership & Communication Skills
ACT735	Accounting For Executives	ACC711	Accounting For Executives
ACT736	Corporate Financial Strategy	FIN721	Corporate Financial Strategy

 

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