Our Executive Master of Actuarial Science-programme (EMAS) offers you the best skillset needed to excel in a career as an actuary AG. Actuaries apply unique skills and a professional approach to solving complex problems, advising on future  risks, opportunities and options across diverse fields and industries.


As an actuary you add value by providing insight, measuring and controlling the risks and translating these risks into policy. The actuary’s advice and judgement are important to the interests of financial institutions, policyholders, pensioners, employees, employers, stock holders, government, supervisors and other social entities.


Why choose EMAS?

  • A part-time Executive Master (MSc, NVAO Accredited) for ambitious finance professionals

  • Teaches you state-of-the–art models and methods for risk management and measurement

  • Academic and practical lecturers from leading universities and companies

  • A strong bond with fellow participants and an ambitious network

  • Interactive courses and cases on a fixed day of the week

  • Graduation on topics relevant to you and your employer

  • Development of professional skills embedded throughout the programme


If you have a BSc and MSc degree in Econometrics and written a masterthesis on an actuarial subject? Then we offer you the most efficient route to become Actuary AG (AAG).


EMAS is aimed at insurance/actuarial professionals active at an academic level who want to become an actuary. Our programme mixes 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 optimize the cross-fertilization between working and learning. Insights developed in the educational programme are translated back into practice, giving rise to further reflection.





 Language of instruction*

 Dutch, English


 60 ECTS, 24 months



 January 2018





 Johan de Witt huis (Utrecht)

*Language of conduct during the programme is Dutch, unless a student doesn’t speak Dutch. Learning materials are in English. 

Admission requirements

EMAS is a part-time Executive Master (MSc, NVAO Accredited) designed for ambitious professionals with a strong analytical and quantitative background. Successful enrolment in our 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:


  • Students with a TiU MSc QFAS qualify for direct admission in course 4 (exemptions for course 1, 2 and 3) if they successfully completed:


    - Valuation and Risk Management (MSc QFAS) and/or Quantitative Finance

    (BSc EOR). Valuation and Risk Management is an advanced version of Quantitative Finance.


    - Life Insurance (BSc EOR) and/or MSc QFAS thesis on advanced life insurance topic, to be determined by the Academic Director.


    - Risk Theory (BSc EOR) and/or MSc QFAS thesis on advanced non-life insurance topic, to be determined by the Academic Director.


    - Asset Liability Management (MSc QFAS).


    - Completed the Bachelor Actuarial Analyst (AAN) and Pre Master Actuarial Analytics (MAA) at the Actuarial Institute.


  • 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



If you have any questions regarding the admission requirements, exemption policy or about your custom made premaster programme, please contact Leandra Pennartz (030-6866190).



Currently we are accepting applications for the January 2018 intake. Please contact Leandra Pennartz (030-6866190) for your custom made programme.


Five courses (21 EC's)

The body of knowledge is taught by academic and practical lecturers from leading universities and companies in five courses (21 EC's). Lectures and tutorials for each interactive course are concentrated in four one-day meetings (7 contact hours per day).


Depending on the nature of the course, the meetings may combine lectures with computer sessions or with group discussions. These discussions are focused on integrating the academic knowledge into students every day’s practice, to give rise to further reflection. 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. Life and Pensions
  3. Valuation and Hedging
  4. Risk and Regulation
  5. Risk Perception and Product Regulation


The courses Statistical Methods, Valuation and Hedging, Life and Pensions, and Risk Perception and Product Regulation are concluded with a written exam. The course Risk and Regulation is concluded with an individual paper.


Exemptions are possible for the first three courses depending on preliminary education. 


Six cases (24 EC's)

five students and will be supervised by academics and professional actuaries from leading universities and companies.


Because students are already professionally active as actuarial professionals, it is one of the goals of the programme to make full use of the opportunities that arise in such a situation. The programme aims to optimize the cross-fertilization between working and learning. Case-based learning takes place during the six cases in the EMAS-programme, in which students work together in small groups. Experiences on the job are incorporated in the cases and academic knowledge, gained during the courses of the programme, will also be incorporated. During these cases students learn how to use academic knowledge in real life cases. These skills can easily be transferred to the everyday actuarial practice of the student.


The six cases in het programme are listed below.


  1. Care insurance

  2. Agricultural Insurance and Food Security

  3. 20/20 vision

  4. Pension Fund and Recovery Plan

  5. Valuation of a Life Portfolio

  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.

Practical information

Degree Master of Science (MSc)
Study form part time
Language of conduct Dutch, unless there are non-Dutch students, study materials are in English
Start (month) January
Locatie Actuarieel Instituut - Johan de Witt huis (Utrecht)


NVAO and Koninklijk Actuarieel Genootschap
Contactpersoon Leandra Pennartz (030-6866190)


The EMAS-programme provides direct access to the title Actuary AG (Koninklijk Actuarieel Genootschap).


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 (030-6866190).



EMAS-08 (2018-2020)

Euro 27.000**


** 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.