Actuarial Science In Malaysia : Complete Guide For International Students

actuarial science in Malaysia

Study Actuarial Science in Malaysia- Actuarial Science Fees, Admission

A person who loves Mathematics as well as Statistics and loves difficult courses related to numbers. Well, we have listed information you require to gain knowledge on studying Actuarial Science in Malaysia. 

 What is Actuarial Science

Through probability, statistics and business knowledge the money related risk calculation is done by Actuarial Science. This is always used in the field of Insurance and Finance to Calculate and manage risk and make budgetary Decisions. 

Like the Insurance plan , once always thinks how does the Insurance company make money if you receive the premium more than you have invested in the Insurance plan. Well this is where the work of Actuary falls into. They evaluate the financial impact and learn how likely an event may occur to calculate, they make calculations to be sure the exact total amount of premiums 

collected exceeds and the claims for the amount has been made. In the event of something bad happening, that is when the Insurance company is able to make a payment of the claimed Insurance

Actuarial Science

List of Actuarial Science Universities in Malaysia with courses

Asia Pacific University of Technology & Innovation Logo

Asia Pacific University of Technology & Innovation

Kuala Lumpur Private Institution
Sunway University Logo

Sunway University

Selangor Private Institution
UCSI University Logo

UCSI University

Negeri Sembilan Private Institution
University of Islamic Sciences Malaysia Logo

University of Islamic Sciences Malaysia

Negeri Sembilan Public Institution
University of Malaya (UM) Logo

University of Malaya (UM)

Kuala Lumpur Public Institution

Duration of Actuarial Science Degree in Malaysia

A Degree Course in Actuarial Science from University in Malaysia is of 3 Years

However, you cannot be called a Qualified Actuary until you study by taking up Professional exams with Professional bodies like the Society of Actuaries or Institute and Faculty of Actuaries (IFoA) which might take 3-7 long years for you to become a qualified Actuary.  To accomplish the professional status as an Actuary you will need to clear the Professional studies.


Entry Requirement

To study Actuarial Science in Malaysia you will need the required subject for SPM or equivalent is Mathematics. 

For A-Level , STPM or Equivalent the needed subject is of course Mathematics, however, if you have covered advanced Mathematics , Economics and or Physics will help you in the long run. 

  • A-Level: Minimum of 2Es including Mathematics
  • STPM: Minimum of 2Cs including Mathematics
  • Australian Matriculation: Minimum of ATAR 60 with an average of 60% in Mathematics
  • Foundation in Arts or Science: Minimum CGPA of 2.00
  • Diploma: Minimum CGPA 2.00

In addition to the above requirement, you will also need a minimum of 5c’s in SPM including Mathematics to study Actuarial Science Degree from Malaysian University. Few Universities may also require you to score well in English Proficiency tests such as IELTS. 

The Entry requirement for Actuarial Science in Malaysia differs from University to University hence, it is recommended to do your research before you apply in Malaysian Universities.

The tuition fee to study Actuarial Science from Malaysia are as follows:

  • BSc (HONS) Actuarial Science - RM43,920 to RM49,920 Annual Approximate cost


Job opportunity once you complete the Professional Exam in Actuarial Science in Malaysia

Once you are a Graduate in Actuarial Studies from University in Malaysia and also have cleared the Professional Exams as given above you can work as an Actuary with different careers

  • Risk Analyst
  • Insurance Actuarial Analyst
  • Actuarial Consultant
  • Business Analyst
  • Investment Analyst
  • Underwriter
  • Data Scientist


Are Actuary in demand in Malaysia?

Actuaries are engaged in life insurance, retirement benefit consultancies, asset management, post retirement medical benefit, and general insurance. It is therefore no surprise that over the years, demand for actuaries has risen significantly in Malaysia and is likely to continue.

How many Actuaries are there in Malaysia?

With only 164 qualified actuaries in Malaysia, the market for actuaries can perhaps still be considered unsaturated.

Are Actuaries in demand in Malaysia?

Employment of actuaries is projected to grow 18 percent from 2019 to 2029, much faster than the average for all occupations. Actuaries will be needed to develop, price, and evaluate a variety of insurance products and calculate the costs of new, emerging risks.

Is the exam in Actuarial Science in Malaysia hard?

The real challenge begins with the actuarial exams. These exams are difficult because it requires an in-depth understanding of the various concepts and materials at hand. They are definitely more difficult than your typical math exams in school

Team Education Malaysia
Team Education Malaysia
Content Curator | Updated on - Jan 15, 2024 Read Full Bio

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