Who is it for?

You want to develop a successful career in insurance or risk management; or you already work in one of these fields and want to expand your knowledge and enhance your career potential.

At Cass, you will study both applied and theoretical aspects of insurance and risk management to an advanced level.


Our MSc Insurance and Risk Management master's programme will equip you with the all-round knowledge and skills necessary to succeed in the constantly evolving fields of insurance, risk and risk management.

You will work through a balanced programme which combines a practical approach with sound theory to create a learning environment that is both challenging and stimulating.  You will emerge with a well-regarded and flexible postgraduate degree, solidly positioned to build a successful career in an exciting an increasing complex business world –see ‘Career Pathways’ for testimonials from our past students.


There are three ways of taking our MSc Insurance and Risk Management programme.

  • A one-year full-time course
  • A two-year part-time course
  • An exempt route (‘fast track’) course for CII Advanced Diploma holders (8 months full-time or 20 months part-time)
In each case you will:
  • Acquire comprehensive knowledge of the theory, principles and practices of insurance and risk management
  • Develop a wide range of technical and conceptual skills
  • Network with your peers and senior finance industry professionals in the City of London
  • Enjoy an enriching environment as part of an international student body
  • Acquire a flexible qualification to prepare you for wide range of roles in insurance, risk management or finance

Full-time programme

The full-time Insurance and Risk Management programme comprises two Induction Weeks, eight Core (compulsory) courses, three Elective courses and a Business Research Project, as follows:

Induction Weeks

  • The MSc in Insurance & Risk Management starts with two compulsory Induction Weeks, providing:

    • A refresher course of basic financial mathematics, statistics, computing and electronic databases
    • An introduction to the Cass Careers Service with a focus on the key skills and attributes that employers look for.  The annual MSc Careers Fair is also held at this time, providing an opportunity to meet over 60 companies recruiting across many sectors, including insurance, finance, energy, real estate, shipping, strategic management and internal auditing

Assessment methods


To satisfy the requirements of the degree students must complete:

  • Eight Core courses (15 credits each) (or five Core courses for Exempt Route students)
  • Three Elective courses (10 credits each) and a Business Research Project (40 credits).

Assessment of Core courses on the MSc in Insurance & Risk Management is by means of coursework and unseen examination in most cases.  Elective courses are generally assessed by coursework only.

Coursework may consist of standard essays, individual or group presentations, group reports, classwork, unseen tests or problem sets.  Group work may include an element of peer assessment.

We review all our courses regularly to keep them up-to-date on issues of both theory and practice.

Term dates

In-Person ID Checks (all students must attend): Commences 16 September 2019

Compulsory Induction: 16 - 27 September 2019

Term I
30 September 2019 - 13 December 2019
Term I exams
6 January 2020 - 17 January 2020

Term II
20 January 2020 - 3 April 2020
Term II exams
20 April 2020 - 1 May 2020

Term III
4 May 2020 - 3 July 2020
Term III exams
6 July 2020 - 17 July 2020

Resit period
Students who are required to resit an examination or invigilated test will do so in the period:
10 - 28 August 2020

Submission deadline for Business Research Project or Applied Research Project 
1 September 2020

Official Course End Date
30 September 2020


Course timetables are normally available from July and can be accessed from our timetabling pages. These pages also provide timetables for the current academic year, though this information should be viewed as indicative and details may vary from year to year.

View academic timetables

Please note that all academic timetables are subject to change.

Teaching staff

Course Director

Course director profile

Dr Simone Krummaker

Professor in Insurance

Chris Parsons began his career in insurance with the Guardian Royal Exchange (now AXA) Group and has had a lifetime of engagement with the insurance industry, as a practitioner, teacher, researcher and consultant.

He is a regular speaker at national and international conferences and seminars and has won many awards for research and teaching, including the Chartered Insurance Institute (CII) Morgan Owen Medal and Prize, International Insurance Society/Geneva Association Research Award and Cass Business School prizes for excellence in postgraduate teaching (on three occasions).

Chris’s specialist expertise includes insurance management and strategy, international insurance markets, insurance law and regulation, accident compensation and liability insurance.

Teaching on the MSc Insurance and Risk Management

Our MSc Insurance and Risk Management programme is taught by a combination of leading academics from our faculties of Actuarial Science and Insurance, Finance and Management and Visiting Lecturers.  All our Visiting Lecturers are senior practitioners in insurance and risk management who bring a wealth of real world experience to the classroom.  Many of them work nearby, in the City of London.


How to apply

Documents required for decision-making

  • Transcript/interim transcript
  • Current module list if still studying
  • CV
  • Personal statement (500-600 words)

Documents which may follow at a later date

  • IELTS result
  • Confirmation of professional qualification examinations/exemptions/passes, if applicable
  • Two references
  • Work experience is not a requirement of this course
  • For a successful application to receive an unconditional status all documents must be verified, so an original or certified copy of the degree transcript must be sent by post to Specialist Masters Programme Office, 106 Bunhill Row, London, EC1Y 8TZ, UK

We cannot comment on individual eligibility before you apply and we can only process your application once it is fully complete, with all requested information received.

Individual Appointments

If you would like to visit us to discuss your application please do arrange an individual appointment.

Entry requirements

A UK upper second class degree or above, or the equivalent from an overseas institution.

Some level of previous study in business or finance is preferred.

English language requirements

If you have been studying in the UK for the last three years it is unlikely that you will have to take the test.

If you have studied a 2+2 degree with just two years in the UK you will be required to provide IELTS results and possibly to resit the tests to meet our requirements.


UK/EU/International £20,500 Tuition fees are subject to annual change
UK/EU/International (part-time) £10,250 Tuition fees are subject to annual change

Fees in each subsequent year of study (where applicable) will be subject to an annual increase of 2%. We will confirm any change to the annual tuition fee to you in writing prior to you commencing each subsequent year of study (where applicable).

Fees (fast track route): £14,000 (full-time); £7,000 per annum (part-time)

Deposit: £2,000 (usually paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met)

First installment: Half fees less deposit (to be paid at registration)
Second installment: Half fees (paid in January following start of course)


The September 11th Scholarship is provided by The September 11th Insurance Trust which is supported by Lloyds and a number of firms in the London insurance market. The purpose of the Trust is to hold the proceeds of charitable events, which are used to fund the education of young people working within the US or UK insurance industry. Two £10,000 scholarships are offered in memory of friends and colleagues who lost their lives in the attacks.

The Worshipful Company of Insurers (WCI) and Cass Business School have established a scholarship scheme for students taking the MSc in Insurance and Risk Management at Cass. Under the scheme, two students will have their fees paid in full.

The Afro-Caribbean Insurance Association (ACIA) aims to encourage and inspire more Afro-Caribbean candidates to consider careers within the insurance industry. In partnership with Cass Business School they are offering a minimum of one scholarship covering full tuition fees for MSc Insurance and Risk Management.

There are also a number of general scholarships, open for applicants to all Cass MSc degrees, including MSc Insurance and Risk Management. Please click on the link below to see more information on all scholarships and to apply.

Information about Scholarships

Career pathways

Our MSc Insurance and Risk Management is a long-established course, and we are very proud of the career progression of our many hundreds of past graduates.

They now work in a wide range of organisations around the world, including:

  • Major global insurance and reinsurance companies
  • International insurance broking firms
  • Investment and retail banks
  • Leading accountancy firms and management consultants
  • Risk management departments of major corporations
  • Regulatory authorities and many other fields.

Some graduates have pursued further studies (such as PhD) after leaving Cass and embarked on academic careers, others have become successful entrepreneurs and built their own businesses.

Class of 2017 profile

Recent graduates have secured roles in:

  • Marsh Ltd
  • China Continental Insurance Company Ltd
  • Addison Bradley International
  • Guy Carpenter
  • Barbican Insurance
  • Insurance Regulatory Autority Kenya
  • Grupo Argos
  • EY
  • THB
  • JLT
  • Miller InsuranceServices
  • Gilda Lucrecia Morales Marroquin
  • Peninsula Underwriting Ltd
  • QBE
  • Euler Hermes
  • Optimal Care Services Ltd.

Where they are working now

  • UK - 49%
  • EU/EEA - 8%
  • Other European - 4%
  • North America - 4%
  • South America - 8%
  • Africa and Middle East - 8%
  • Asia - 19%

Industry post-master's

72% Financial Services- Insurance
4% Investment Banking - Sales/Trading/Structuring
4% Asset Management/ Investment Management

The remaining industries are made up of Financial Services Consulting(4%), Other Consulting (4%), Accounting/Auditing Services (4%), Other Financial Services (4%) and Healthcare/Pharmaceuticals/Biotechnology (4%).

Graduate testimonials

Here are testimonials from just a small number of our past students, spanning the last 25 years.

Amanda Ryan, Managing Director, Peninsula Underwriting Ltd

“The MSc in Insurance and Risk management has been an invaluable experience which has provided me with a solid foundation from which to further develop my career.  The facilities and location are excellent: right in the city centre and very near the insurance sector and Lloyd's of London.  I met people with whom I have built a network from all over the world – smart, creative and both current and future leaders in the industry.  The teaching staff are very experienced and knowledgeable practitioners and their support has been instrumental in my growth and learning.  Overall, I can confirm that the MSc IRM has helped me gain all the skills required to succeed and stand out in this highly technical and competitive insurance market.” (2017 graduate)

Katja Wurm, Head of Allianz Multinational at Allianz SE

“The MSc IRM programme at Cass is an excellent choice: it is well designed and provides students with a solid foundation as well as deep insights into the insurance world.  Studying at Cass has been incredibly helpful for me, not only by advancing my career at Allianz, but also by increasing my level of understanding across a broad range of topics. Working now in the Company’s global headquarter I definitely benefit from this knowledge, not only with regards to my current role, but also in relation to many of the strategic topics that are discussed on group level.” (2013 graduate)

Tom Hoad, Head of Innovation, Tokio Marine Kiln, London

“Thoroughly exploring the fundamentals of insurance and risk management should be the foundation of any technical career in insurance.  I found that the part-time MSc Insurance and Risk Management programme at Cass allowed me the freedom to debate commercial topics in an academic environment, thus enabling me to better build the base from which I now apply insurance to new and emerging risks.” (2009 graduate)

Georgia Tsiakki, Chief Risk Officer / Director of Risk, AMAL, ArgoGlobal

“Without any doubt, the MSc in Insurance and Risk Management opened the doors to the insurance sector for me.  With very little searching, I secured a position on a graduate scheme before even graduating.  Not only did the programme give me a great foundation in risk, but I also had a very supportive network of tutors, academics, and classmates, many of whom were already professionals in insurance.”(2005 graduate)

Ahmed Ameel, Managing Director, Allied Insurance, Maldives

“I sincerely thank the faculty members of Cass teaching the MSc Insurance and Risk Management course for their very practical approach to the whole programme.  The valuable lessons I learnt have helped me immensely in my professional career” (2008 graduate)

Despoina Makariou, PhD Candidate at the London School of Economics

“The MSc in Insurance and Risk Management provided me with solid knowledge in the area of risk.  It enabled to take my first employment steps in the London insurance market in the area of catastrophe risk modelling, straight after graduation.  Most important, it ignited my interest to start pursuing a PhD in the area of Risk and Stochastics with an aspiration to stay in academia and contribute further to this field of research.” (2013 graduate)

Anastasiya Kiskliak, Audit Manager, Direct Line Insurance Group, London

“Having spent a few years in insurance I decided to take the MSc Insurance and Risk Management course, which brought a new perspective to my career vision.  It enabled me to see that risk management forms an integral part of insurance:  in fact it sits at the heart of every business success. This realisation was crucial, and set a new direction in my professional development, enabling me to move into insurance risk management.  The course gave an additional dimension to my business skills which then allowed me to perform a further successful move into the field of internal audit.” (2010 graduate)

Socrates Coudounaris, Executive Director, ERM, Reinsurance Group of America

“The MSc in Insurance and Risk Management has supported me throughout my journey in risk management.  Cass certainly gave me the tools I needed to help me fulfil my career aspirations.  I now wish to help others develop their risk management careers and I am honoured to return to Cass as a Visiting Lecturer on the very same course I graduated from 20 years ago!” (1997 graduate)

Maurizio Lualdi, Partner at Capital Research Global Investors

“The Cass MSc in Insurance and Risk Management was instrumental in starting my career.  Having produced a dissertation on ‘Alternative Risk Transfer Methods’ I got the opportunity to join Price Waterhouse after graduation, to work in the areas of Shareholder Value and Risk Management.  This was the launching platform for my career towards financial markets and investments.  The programme at Cass Business School gave me the foundation that still to this day supports my development.” (1997 graduate)

Ashraf Musbally, Group Managing Director, Phoenix of East Africa Assurance

“The course is very comprehensive and has given me an in-depth knowledge of how to run an insurance company.  Studying at Cass has been the seed that has allowed me, today, to have a successful career in insurance” (1993 graduate)

Course information and statistics

average age of student body
Human brain
The MSc in IRM is now in its 25th year
nationalities in 18/19 cohort
Diploma/ certificate
from multiple professional exams available to graduates


The quality and relevance of our MSc Insurance and Risk Management programme is acknowledged in many different ways, including the following:

See accreditation details


Successfully obtaining the MSc in Insurance and Risk Management allows exemption from the examinations of several professional bodies.

Chartered Insurance Institute (CII)

MSc Insurance and risk Management students have the opportunity to earn very substantial exemptions from internationally-recognised professional examinations in the field of insurance and risk management, including 205-210 credits towards the 290 credits required for the Chartered Insurance Institute Advanced Diploma.

The Chartered Insurance Institute (CII) is acknowledged as the leading world forum for professional insurance education with over 120,000 members in over 100 countries


Exemptions are also given from some examinations of the Institute of Risk Management (IRM), the leading professional body for risk management


The quality of Cass courses generally is recognised through our ‘Triple Crown’ accreditation by AMBA, AACSB and EQUIS

Cass has been designated by the International Insurance Society (IIS)  as a Global Centre of Insurance Excellence (GCIE). The IIS certification programme recognises outstanding risk management and insurance programmes that play a key role in promoting insurance knowledge and research.

Eduniversal has given our MSc in Insurance and Risk Management its highest ‘four star’ rating.  Our Insurance and Risk Management degree is the highest placed UK-based course in field of risk and insurance in the Eduniversal ranking.


Our MSc Insurance and Risk Management students have often won major prizes for work completed at Cass.  For example, our students’ MSc Dissertations have received Research Awards from the Geneva Association (International Association for the Study of Insurance Economics) and International Insurance Society (IIS) and have won the UK Actuarial Prize awarded by the major international reinsurer SCOR on several occasions in recent years.