PhD Actuarial Science
Doctoral research at the frontier of actuarial science — from longevity and mortality modelling to catastrophe risk, computational actuarial methods, and climate risk insurance. Supervised by globally recognised academics with strong IFoA and SOA endorsement, and backed by 20+ specialist supervisors across 60+ research areas.
Doctoral Research Structure
The D'Math University PhD in Actuarial Science is a full-time research degree lasting 3 to 5 years. Students work under the supervision of one primary and one secondary supervisor to produce an original thesis that makes a genuine contribution to actuarial science knowledge, suitable for examination by internationally recognised experts in the field.
- Year 1: Research training, literature review, methodology development, and confirmation of doctoral candidacy at 9 months.
- Years 2–3: Core research, conference presentations, journal paper submissions, and annual progress reviews with supervisory panel.
- Years 4–5 (if applicable): Thesis completion, pre-viva preparation, and transition planning into academic or industry career.
- Viva Voce: Oral examination by two independent examiners — one internal, one from a world-leading actuarial science department.
Research Environment
Our actuarial science doctoral programme is embedded within a vibrant research community. PhD students benefit from a dedicated research office, full library access, conference funding, and integration with D'Math University's broader mathematics and statistics research groups.
- IFoA Recognition: The programme is formally recognised by the IFoA as an approved route to Fellowship for candidates pursuing research pathways.
- Industry Collaboration: Over 60% of PhD students hold a co-funded studentship with an industry partner, ensuring real-world research impact.
- Seminar Series: Weekly actuarial research seminars featuring internal and external speakers, including IFoA sessional meetings presentations.
- Conference Support: Annual funding of £3,000 per student for presenting at international actuarial and statistics conferences.
- Teaching Opportunities: PhD students who wish to pursue academic careers can undertake supervised undergraduate teaching from Year 2.
Click any course to view its objective and learning outcomes.
ACS 701 Research Methods in Actuarial Science +
Objective
To prepare doctoral candidates for original actuarial research.
Learning Outcomes
- Apply rigorous research design to actuarial problems.
- Conduct ethical research with insurance data.
- Apply advanced statistical methods.
- Critique published actuarial research.
- Write proposals for funding.
ACS 702 Advanced Stochastic Methods +
Objective
To master advanced stochastic methods for insurance research.
Learning Outcomes
- Apply Lévy processes to insurance.
- Use semimartingale theory.
- Apply stochastic control.
- Use rough path theory.
- Apply random matrices.
ACS 703 Mortality Research +
Objective
To pursue advanced research in mortality and longevity modelling.
Learning Outcomes
- Apply Lee-Carter and CBD models.
- Use Bayesian mortality projection.
- Apply machine learning to mortality.
- Use cause-of-death models.
- Discuss longevity risk.
ACS 704 Risk Theory Research +
Objective
To advance research in collective risk theory.
Learning Outcomes
- Apply renewal-theoretic methods.
- Use heavy-tailed claim distributions.
- Apply network risk models.
- Use copula-based aggregation.
- Discuss systemic risk.
ACS 705 Capital & Solvency Research +
Objective
To research advanced capital modelling.
Learning Outcomes
- Build internal capital models.
- Apply ORSA frameworks.
- Use scenario analysis.
- Apply model validation.
- Discuss regulatory capital.
ACS 706 Doctoral Seminar +
Objective
To engage with cutting-edge actuarial research.
Learning Outcomes
- Present and critique research papers.
- Engage with international research.
- Participate in peer review.
- Build a research network.
- Develop research presentation skills.
ACS 707 Teaching Practicum +
Objective
To develop teaching skills at university level.
Learning Outcomes
- Plan and deliver lectures.
- Design assessments.
- Apply pedagogical theory.
- Mentor undergraduates.
- Engage in curriculum development.
AND OR NOT XOR -> <->
ACS 708 PhD Thesis I +
Objective
To produce original research towards a doctoral thesis.
Learning Outcomes
- Identify an original research question.
- Conduct extensive literature review.
- Develop a research methodology.
- Produce preliminary results.
- Present at international conferences.
ACS 709 PhD Thesis II +
Objective
To advance the doctoral research project.
Learning Outcomes
- Develop original methodology.
- Generate substantial research findings.
- Publish in peer-reviewed journals.
- Develop the thesis structure.
- Defend the research methodology.
ACS 710 PhD Thesis III +
Objective
To consolidate doctoral research into a defendable thesis.
Learning Outcomes
- Write a thesis of 80,000-100,000 words.
- Synthesise multiple research contributions.
- Defend the thesis viva voce.
- Publish multiple peer-reviewed articles.
- Contribute to the actuarial profession.
Longevity & Mortality Modelling
Lee-Carter and extensions, stochastic mortality models, cohort effects, longevity bond pricing, and pandemic mortality shocks.
Non-Life Insurance Reserving
Stochastic reserving, bootstrapping, Bayesian reserving models, and quantification of reserve uncertainty in general insurance.
Catastrophe Risk & Reinsurance
Extreme value theory, cat modelling, ILS pricing, reinsurance treaty optimisation, and tail risk quantification for nat-cat portfolios.
Pension Fund Mathematics
Defined benefit funding, liability-driven investment, de-risking strategies, PPF levy modelling, and intergenerational risk sharing.
Solvency & Capital Modelling
Internal model development, SCR calculation, model validation, and the mathematics of Solvency II and IFRS 17 capital adequacy.
Health Insurance Mathematics
Morbidity transition models, critical illness pricing, long-term care insurance mathematics, and pandemic insurance product design.
Embedded Options in Insurance
Guaranteed minimum benefits, variable annuities, with-profits policies, and stochastic valuation of complex insurance guarantees.
Climate Risk & Insurance
Physical and transition climate risk modelling, parametric insurance design, climate scenario analysis, and TCFD-aligned actuarial methods.
University Professor (Actuarial)
Pursue academic careers at leading actuarial science departments worldwide, teaching and researching at Heriot-Watt, Waterloo, Melbourne, or equivalent institutions.
Chief Actuary (Large Insurer)
Lead the actuarial function at FTSE 100 and global insurance groups, with PhD-level expertise enabling board-level influence on risk and capital strategy.
Regulator (PRA/FCA)
Shape insurance regulation at the Prudential Regulation Authority, Financial Conduct Authority, or equivalent international supervisory bodies.
Reinsurance Research Director
Lead catastrophe modelling and actuarial research functions at global reinsurers including Munich Re, Swiss Re, and Hannover Re.
World Bank Risk Specialist
Apply actuarial expertise to sovereign risk, disaster risk finance, and social protection programmes with international development organisations.
IFoA Council Member
Contribute to the governance and strategic direction of the actuarial profession, shaping IFoA policy, standards, and qualification frameworks.
Why D'Math University — Our 4-Step Approach
Structured Research Training
All PhD students complete a structured research training programme in Year 1 — covering research methods, academic writing, statistical software, and research ethics before embarking on original thesis work.
Expert Dual Supervision
Every student is supervised by a primary academic supervisor and a secondary supervisor, often from an industry partner, ensuring research is both academically rigorous and practically relevant.
Publication & Dissemination
We expect and support PhD students to publish in peer-reviewed actuarial journals — British Actuarial Journal, Annals of Actuarial Science, Insurance: Mathematics and Economics — during the doctorate.
Career Transition Planning
From Year 3, dedicated career planning for both academic and industry pathways — including academic job market preparation, Fellowship applications, and senior industry introductions.
Contact our doctoral admissions team — phd@dmathu.ac | Supervisor matching service available