Actuaries apply unique skills and a professional approach to solving complex problems, advising on future  risks, opportunities and options, across diverse fields and industries. Understanding how businesses operate, how legislation may have an impact and how financial economics may affect securities are all vital skills for an actuary.


If you have a quantitative BSc or MSc degree and written a thesis on an actuarial subject? Then EMAS offers you an efficient route to become Actuary AG (AAG).



  • Master Programme towards full actuarial qualification AAG (NVAO accredited MSc programme)
  • Lectures and tutorials are mixed with case-based learning and directly applicable in your working environment
  • 4 semester part-time programme in Dutch or English
  • People make the difference, lecturers and instructors are renowned professors/lecturers and practitioners
  • A major contribution to your network


EMAS is aimed at individuals who are already professionally active at an academic level and who are looking for ways to broaden and deepen their knowledge. The curriculum mixes concentrated lectures and tutorials with case-based learning in which students work together in small groups. The programme is structured in such a way that it is indeed possible for participants to combine work with study and to optimize the cross-fertilization between working and learning. Insights developed in the educational programme are translated back into practice, giving rise to further reflection. All courses and cases take place at the Johan de Witt huis in Utrecht.





 Language of instruction*

 Dutch, English


 60 ECTS, 24 months


 Starts in January





 Johan de Witt huis (Utrecht)


*Language of conduct during the program is Dutch, unless a student doesn’t speak Dutch. In this case a test to assess the level of English is part of the intake procedure. Learning material is in English. 

Admission requirements

Successful enrolment in our EMAS-programme is subject to a number of admission requirements. In this way students benefit from a high potential, motivated group of talented individuals to further enhance your learning experience.


You qualify for direct admission to the EMAS-programme if you meet one of the following requirements:


  • completed the Bachelor Actuarial Analyst (AAN) and Master Actuarial Analytics (MAA) at the Actuarial Institute
  • a Master QFAS at Tilburg University (including the four subjects Life Insurance, Risk Theory, Asset Liability Management and Quantitative Finance)
  • a Bachelor or Master degree in Actuarial Sciences at the University of Amsterdam
  • a Bachelor degree Econometrics and Operations Research, track Actuarial Sciences from the University of Maastricht
  • a Master degree Econometrics, Operations Research and Actuarial Science, track Actuarial Sciences from the University of Groningen
  • completed the AI pre-master programs for students with the following degrees:

    - Bachelor Econometrics and Operations Research at Tilburg University
    - Master QFAS at Tilburg University without the subjects Life Insurance, Risk Theory, Asset
      Liability Management and Quantitative Finance
    - Master Informatics or Physics (various universities)
    - Bachelor Mathematics, Econometrics or Informatics (some universities)
    - Master Econometrics, Mathematics (various universities)
    - HBO-bedrijfswiskunde

The specific modules are listed in an overview>>


Pre-master programme HBO Toegepaste Wiskunde

For information on HBO Toegepaste Wiskunde, please contact Leandra Pennartz (030-6866190).


Master Economics and Master Finance

Students who have completed a Master in Economics or a Master in Finance may be eligible for a pre-master programme. This is not a standard programme. Please contact Leandra Pennartz (030-6866190) for more information.



If you have any questions regarding the admission requirements or pre-master programmes, please contact Leandra Pennartz (030-6866190).


Five courses (21 EC's)

Course 1 has a study load of 5 EC’s and the remaining four courses carry a study load of 4 EC's (1 EC's corresponds to 28 hours of course attendance and self-study on average). Exemptions are possible for the first three courses depending on preliminary education.


Depending on the nature of the course, the meetings may combine lectures with computer sessions or group discussions. In addition to attending the course meetings, participants are required to study the course material and to complete homework assignments. The 5 courses are:


  1. Statistical Methods
  2. Valuation and Hedging
  3. Life and Pensions
  4. Risk and Regulation
  5. Risk Perception and Product Regulation


As from EMAS 06, starting in January 2016, the course Process Management and Communication will be incorporated in course 5 and in the cases. The number of courses for EMAS 06 is therefore a total of five.


Each course is concluded with an written exam or paper. 


Six cases (24 EC's)

Participants will be able to apply quantitative methods as well as to address broader issues in financial security systems and financial risk management. Because the work is organized in teams, participants have the opportunity to practice skills in process management. Each team working on a case is supervised by two instructors and an academic, to ensure practical relevance as well as appropriate connection to the current scientific literature.


Results are presented in a meeting that takes place about six weeks after the kick-off meeting. Each case has two interim meetings in which questions can be asked, a guest speaker is presented or a special assignment is discussed. Presentation meetings are attended by four or five teams who present their own results and discuss the conclusions of the other teams. Depending on the subject of the case, the instructors may for the purpose of the discussion assign specific roles to participants, such as board member, risk manager, supervisor, stakeholder, or manager responsible for implementation. Evaluation of each team’s performance takes place by the instructors.


The six cases in het programme of EMAS 07 are listed below. Cases may vary in other cohorts:


  1. Care Insurance

  2. Pension Fund Recovery Plan

  3. Valuation of a Life Insurance Portfolio

  4. Agricultural Insurance and Food Security

  5. 20/20 vision

  6. Banking (Mortgages)


Thesis (15 EC's)

The thesis constitutes proof of the individual qualities of the participant and of his or her ability to carry out an analysis of a specific topic.


Click on the link(s) below to view the EMAS-schedule.


Practical information

Degree: Executive Master of Actuarial Science (MSc)

Study form: part time

ECTS: 60

Language of conduct: Dutch, unless there are non-Dutch students, study material is in English

Start (month): January

Location: Actuarieel Instituut - Johan de Witt huis (Utrecht)

Accreditation: NVAO & Koninklijk Actuarieel Genootschap

Contact: Leandra Pennartz (030-6866190)


Please note: It is not possible to register for the programme directly on the website. If you want to register for the EMAS programme, please contact Leandra Pennartz.



EMAS-07 (2017-2019)

Euro 26.500**


** prices including materials, exam and catering

Contact details

Actuarieel Instituut
Groenewoudsedijk 80
3528 BK Utrecht

The Netherlands
T +31 (0)30-6866150


Coordinator: Leandra Pennartz

T. +31 (0)30-6866190



If you want to register for the EMAS, please contact Leandra Pennartz.