Overview
The M.Sc. program in Financial and Insurance Mathematics at Ludwig Maximilian University offers a specialized education focused on the mathematical aspects of finance and insurance. Students delve into quantitative techniques, risk assessment, and modelling tools essential for addressing complex financial and insurance challenges. The curriculum covers topics such as stochastic analysis, financial derivatives, actuarial science, and risk management.
Graduates of this program are well-equipped for careers in the financial sector, insurance industry, investment banking, and actuarial science, where they apply mathematical rigor to analyse and manage financial risks, ultimately contributing to sound financial decision-making and stability in these industries.
Course Details
| University | LMU – Ludwig-Maximilians-Universität München |
| Program Name | Financial and Insurance Mathematics |
| Degree | M.Sc. (Master of Science) |
| Subjects | Mathematics, Business Mathematics, Actuarial Science, Statistics, Financial Mathematics |
| ECTS | 120 |
| Language | English |
| Application Deadlines | Winter semester: 15 Jul |
| Duration | 2 Years (starting: Winter semester) |
| Tuition Fees | Free |
| Qualification Requirements | Bachelor’s degree in mathematics or related field |
| Language Requirements | Advanced proficiency in English |
| Application Procedure | Directly at the University |
| Application Fee | None |
Admission Documents
- Bachelor’s Degree Certificate: Provide a certificate of your Bachelor’s degree, including the final average grade and an explanation of the grading scale. The scale must indicate the minimum passing grade and the maximum achievable grade. Applications lacking proof of the average grade and grading scale, certified by your examination office, will be rejected.
2. Course Records/Transcripts: Submit an outline of lecture courses or transcripts of records. If your transcript lists all course names, additional syllabi are not necessary.
3. Official Translations: For documents not in German or English, provide an official translation.
4. Current Bachelor’s Students: If you haven’t completed your Bachelor’s studies, submit an official transcript of all examination results to date, including an overall weighted average grade certified by your university’s examination office. Conditional admission offers depend on your final grade. At the time of application, you should have completed at least 75% of your Bachelor’s curriculum (e.g., 135 ECTS points for a 180 ECTS course).
5. Proof of English Proficiency: Refer to the specific language requirements for details.
6. Curriculum Vitae: Upload your current CV in English.
7. Motivation Letter: Prepare a motivation letter in English (2,000 to 3,000 characters) explaining your goals for graduate studies and your interest in the master’s program in economics at LMU Munich. This letter should be inserted in the text field of the online application tool.
Career opportunities
- Actuary: Analyze financial risks and probabilities to help insurance companies and other organizations make informed decisions about pricing, underwriting, and risk management.
- Quantitative Analyst (Quant): Apply mathematical models and statistical analysis to evaluate and optimize financial investments, trading strategies, and risk assessment for banks and hedge funds.
- Risk Analyst: Assess and manage financial risks in various sectors, including banking, investment, and insurance, to ensure financial stability and compliance with regulations.
- Financial Consultant: Offer expert advice to individuals and businesses on financial planning, investment strategies, and risk management, helping clients achieve their financial goals.
- Insurance Specialist: Work in insurance companies, helping design and analyze insurance products, develop pricing strategies, and assess claims and underwriting processes.
