M.Sc./Diploma in Actuarial Science

Department of Actuarial Mathematics and Statistics


Frequently Asked Questions


Why should I choose Heriot-Watt?

Who are the full-time actuaries on the staff?

Professor McCutcheon is a past-president of the Faculty of Actuaries. He is an internationally renowned authority on Mortality Theory and is a member or chairman of many important national and international committees related to actuarial work and insurance. Along with William Scott he wrote the standard textbook An Introduction to the Mathematics of Finance.

Professor Waters has an international reputation for his work in the modelling of Permanent Health Insurance and in Risk Theory. He is author or joint author of four monographs on Credibility Theory, Risk Theory, Ruin Theory and Stochastic Life Contingencies which were used for many years by the Institute of Actuaries and the Faculty of Actuaries.

Professor Macdonald is Director of the Genetics and Insurance Research Centre (GIRC). Assessment of the likely impact of genetic testing on insurance is a relatively new subject in actuarial science. Under Prof Macdonald's guidance the centre has rapidly established itself as the leading group in the world in this field.

Mr Forfar joined the department in 1999 with a distinguished career of 25 years in the insurance industry behind him. In recent years he was Chief Actuary at Scottish Widows Life Assurance Company and a consultant with PricewaterhouseCoopers. He is a reknowned expert on the interface between international accounting standards and actuarial science.

Some other actuaries are also closely linked to the department:

Professor Wilkie is one of the world's foremost actuaries with an outstanding, international reputation in many fields of research. In his role as Research Consultant he visits the department regularly to discuss and develop research.

The staff of the department also includes eight full-time statisticians and two financial mathematicians.

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Andrew Cairns / Heriot-Watt University / A.Cairns@ma.hw.ac.uk