Executive M.A. 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 Degree 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.

Executive Master in Actuarial Science at LAU (EMAAS)

In response to a regional demand from 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. 

Program Philosophy

If you want to enter the challenging yet rewarding world of actuarial science, our executive degree will give you the training to become leaders at the cutting edge of what is a relatively new field, with skills applicable to work both in the region and abroad.

Individual courses are available to professionals looking to broaden their knowledge of the market, risk analysis and statistical analysis and gain insight into the field of actuarial science.

The EMAAS program is jointly run by LAU’s School of Arts and Sciences and School of Business, and offered in the Department of Computer Sciences and Mathematics.  This interdisciplinary program has two main strands: insurance management and actuarial mathematics. The two concentrations offered allow students to hone their knowledge, develop specialist expertise and learn the professional skills and the code of conduct associated with the insurance and actuarial field.

International Examinations

The EMAAS courses cover most of the syllabi of international Actuarial exams. These prestigious international exams, administered by the Society of Actuaries (SOA) and/or the Causality Actuarial Society (CAS), give you the internationally recognized professional qualification to establish yourself as an actuary with the designation “Fellow of the Society of Actuaries (FSA)” or a “Fellow of the Causality Actuarial Society (FCAS)”. 

Career Potential

Experienced actuaries are an essential part of any management team across numerous industries in the fields of insurance, healthcare, banking, investments and pensions. With only a handful of qualified actuaries in the Middle East and a growing market demand for actuarial professionals, there is a huge potential for a career in what is a financially rewarding field.

Admission requirements

Candidates for admission will normally be holders of B.S. in Mathematics, B.A./B.S. in Economics, or B.S. in Business. Other applicants with solid backgrounds in quantitative and computational skills (such as Engineers, holders of a B.S. 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.


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

Tentative Course Offering Plan

Fall 2014

Course Instructor Cr.   Dates
ACT711: Actuarial Statistics Mr. Samer   Abi Ghanem 3 October 3, 4, 10, 11, 17, 18, & October 31, November 1, 2014
ACT798: Topics (Financial Derivatives) Dr. Kouzeima Moutannabir 1.5 November 7,8, 28, 29, 2014
ACT728: Insurance Compliance and Corporate Governance Dr. Charilaos Mertzanis 1 January 9, 10, 16, 17, 2015

Spring 2015

Course Instructor Cr. Dates
ACT743: Actuarial Mathematics Mr. Samer Abi Ghanem 3

February 20, 21, 27, 28,March 13, 14, 20, 21, 2015

ACT744: Actuarial Statistics II Dr. Kouzeima Moutannabir 3 April 3, 4, 10, 11, 24, 25, May 8, 9,2015
ACT798: Topics (TBD) Dr. Andreas Milidonis 1.5 May 22, 23, 29, 30, 2015


The Executive MA in Actuarial Science aims to promote a culture of need and appreciation for the Actuarial Sciences in Lebanon and the region. It aims as well to disseminate the importance of professional certification in the field and in the insurance industry.

Educational objectives

The objectives of the Executive MA in Actuarial Studies program are:

Learning outcomes

The Executive MA in Actuarial Science program will enable the graduates to: