Overview

In response to a regional demand from the insurance industry, LAU leads the way with the first Executive Master’s in Actuarial Science (EMA) in the Middle East, a program offered jointly by the School of Arts and Sciences and the Adnan Kassar School of Business. The EMA offers the highest level of executive education and training that can be combined with a full-time career for those working in the fields of insurance or finance and want to advance their careers. It provides the solid academic core and deep understanding of the market to prepare students for a successful career as actuaries.

Mission

The Executive M.A. in Actuarial Science aims to promote a culture of need for, and an appreciation of, actuarial science in Lebanon and the region. It aims as well to disseminate the importance of professional certification in the field and in the insurance industry.

Program Objectives

The objectives of the Executive M.A. in Actuarial Science program are to:

1. allow experienced professionals in Lebanon and the Middle East to upgrade their insurance knowledge
2. assist those professionals in earning professional certification
3. provide a solid academic foundation for its constituencies to become successful actuaries
4. offer a structured assistance for those professionals or students wishing to take the international exams of the Society of Actuaries, the Causality Actuarial Society, or others

Learning Outcomes

The Executive M.A. in Actuarial Science will enable graduates to:

1. demonstrate an understanding of the fundamental probability tools for quantitatively assessing risk and an ability to apply these tools to various insurance problems
2. demonstrate an understanding of quantitative concepts and basics of financial analysis from accounting to capital budgeting applicable to insurance companies
3. demonstrate an understanding of the theoretical basis of certain actuarial models and life contingent models and an ability to apply those models to insurance and other financial risks
4. demonstrate an understanding of frequency and severity models and an ability to carry out the steps involved in the modeling process in solving business problems
5. analyze data from an application in a business context, determine a suitable model including parameter values, and provide measures of confidence for decisions based upon the model
6. establish rapport in groups, be adaptable to new circumstances, be able to work both independently and in collaboration with others, and be able to function effectively as leaders
7. demonstrate the highest standards of ethical conduct and professional behavior, critical, interpersonal and communication skills as well as a commitment to life-long learning

Eligibility for Admission

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.