Master’s in Reinsurance & Capital Markets Engineering
Online master's programme of 1,900 hours in Reinsurance & Capital Markets Engineering, structured in 12 modules covering reinsurance fundamentals, proportional and non-proportional reinsurance, pricing, programme optimisation, solvency, alternative risk transfer, insurance securitisation, capital markets, reinsurance claims and retrocession, with an assigned technical tutor.
Master’s in Reinsurance & Capital Markets Engineering — studying from Australia
Australia has a mature insurance and superannuation sector, with major insurers, reinsurers and financial institutions relying heavily on actuarial analysis and risk modelling. Engineers and data specialists contribute to catastrophe modelling, telematics-based pricing and claims analytics, particularly given the country's exposure to bushfire, flood and cyclone risk. The regulatory environment is shaped by prudential oversight and consumer protection frameworks. Employers include general and life insurers, consultancies, reinsurance firms and government risk agencies.
Fees for Australia: A$12,600 (AUD), with instalments and employer sponsorship available.
Relevant bodies in Australia
Typical roles
Questions from Australia
Does this programme lead to recognition by the Actuaries Institute or another Australian professional body?
SEIUM qualifications are private and are not accredited by the Actuaries Institute, Engineers Australia or any national body. The Actuaries Institute sets its own examination and membership requirements, which a private qualification does not replace. Recognition for any role is decided by the employer or the relevant body, so confirm their requirements before enrolling.
Which Australian insurers and risk employers might consider this training?
Insurers, reinsurers, banks, consultancies and risk management teams in Australia employ people with data and risk skills. Whether they consider a private engineering qualification relevant depends on the role and their own hiring policy. Your demonstrated skills, portfolio and final project are often what matter most to them.
Is the course manageable while working, and can my employer fund it?
Yes, the programmes are delivered entirely online in English, with an assigned technical tutor, so you can fit study around work from Australia. Fees can be paid in instalments, and employer sponsorship is possible. Check the total hours for your chosen programme and agree a realistic weekly schedule before you start.
Take the controls.
Run a real engineering trade-off from this field. Move the sliders, watch the model react in real time and beat the challenge.
What you will be able to do
Analyse how the reinsurance market and contracts work.
Design proportional and non-proportional programmes.
Price reinsurance layers by experience and exposure.
Optimise reinsurance programmes using capital criteria.
Evaluate alternative risk transfer solutions.
Analyse securitisation instruments and investment in them.
Manage claims and contractual relationships in reinsurance.
Who it's for
- Reinsurance actuaries.
- Reinsurance underwriters.
- Reinsurance brokers.
- ILS analysts in investment funds.
- Ceded reinsurance managers at insurers.
- Insurance capital managers.
- Engineering or science graduates aiming to enter reinsurance.
What you'll work with
- Directive 2009/138/EC (Solvency II)
- Delegated Regulation (EU) 2015/35 (Solvency II implementing rules)
- IFRS 17 (insurance contracts)
- Regulation (EU) 2017/2402 (securitisations)
- Law 20/2015 (Spanish Law on the regulation, supervision and solvency of insurers, LOSSEAR)
- IAIS Insurance Core Principles (ICP)
- ARIAS principles (insurance and reinsurance arbitration)
- Igloo (WTW)
- Remetrica (Aon)
- Moody's RMS
- Python
- R
12 modules · 1900 h
1.1Functions of reinsurance1.2Cedant, reinsurer and retrocessionaire1.3Treaty and facultative reinsurance1.4The global reinsurance market1.5The renewal cycle1.6Reinsurance brokers1.7Credit ratings of reinsurers1.8The reinsurance contract and slip1.9Legal principles of reinsurance1.10Case study: analysis of a reinsurance slip
2.1Quota share2.2Surplus2.3Reinsurance commission and sliding-scale commission2.4Profit commission2.5Portfolio entry and withdrawal2.6Reserve deposits2.7Technical accounts2.8Uses of proportional reinsurance for capital2.9Advantages and limitations2.10Practical exercise: calculating cessions under a surplus treaty
3.1Per-risk excess of loss3.2Per-event excess of loss3.3Stop loss and excess of loss ratio3.4Retention, capacity and layers3.5Reinstatements3.6Hours clauses3.7Stabilisation clauses3.8Annual aggregates3.9Experience and exposure rating3.10Case study: designing an excess of loss programme
4.1Burning cost4.2Adjustment for inflation and development4.3Exposure curves4.4Frequency and severity models4.5Pareto distribution in high layers4.6Modelling with cat models4.7Risk load and cost of capital4.8Layer simulation4.9Comparison of quotes4.10Lab: experience rating of an XL layer
5.1Cedant objectives5.2Optimal retention5.3Metrics: cost, volatility and capital5.4Efficient reinsurance frontiers5.5Impact on the SCR5.6Impact on IFRS 17 results5.7Dynamic financial analysis5.8Centralised purchasing in groups5.9Counterparty risk5.10Practical exercise: optimising retention with simulation
6.1Recognition of reinsurance under Solvency II6.2Mitigating effect on the SCR6.3Reinsurer counterparty risk6.4Guarantees and collateral6.5Third-country equivalence6.6Reinsurance in the ORSA6.7Reinsurance under IFRS 176.8Accounting for reinsurance contracts held6.9Supervision of reinsurance6.10Case study: impact of a quota share on the solvency ratio
7.1The concept of ART7.2Financial reinsurance7.3Insurance and reinsurance captives7.4Protected cell companies7.5Multi-year and multi-line contracts7.6Industry loss warranties (ILW)7.7Sidecars7.8Collateralised reinsurance7.9Accounting and risk transfer7.10Workshop: evaluating a reinsurance captive
8.1Catastrophe bonds8.2Special purpose vehicles8.3Triggers: indemnity, index and parametric8.4Structure and collateral8.5Calculation agents and modelling8.6ILS investors8.7Life and longevity securitisation8.8Regulation (EU) 2017/2402 on securitisations8.9Valuation of ILS bonds8.10Practical exercise: analysis of a catastrophe bond prospectus
9.1ILS funds9.2Correlation with financial markets9.3Return and risk of ILS9.4Longevity swaps9.5Pension risk transfer9.6Insurance derivatives9.7Market price versus actuarial price9.8Liquidity in secondary markets9.9Investor regulation9.10Case study: building an ILS portfolio
10.1Claims notification to reinsurers10.2Event aggregation10.3Follow-the-fortunes clause10.4Inspection of records and audits10.5Commutations10.6Disputes and arbitration10.7Reinsurance recoveries10.8Accounts and settlements10.9Handling major catastrophes10.10Practical exercise: settling an excess of loss event
11.1Retrocession and its market11.2Reinsurer accumulation management11.3Reinsurer capital and rating11.4Global diversification11.5Reinsurance underwriting11.6Market cycle and pricing11.7Climate change in reinsurance11.8Reinsurable emerging risks11.9Growth strategy11.10Workshop: retrocession plan for a reinsurer
12.1Selection of the ceding portfolio12.2Risk profile analysis12.3Loss modelling12.4Design of reinsurance alternatives12.5Evaluation of ART or ILS solutions12.6Impact on capital and results12.7Final recommendation12.8Conclusions12.9Master's Thesis report12.10Master's Thesis: defence before a panel
How you'll learn
100% online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. No fixed timetables: you progress at your own pace within the intake, so you can combine it with your job.
Each module combines theory, guided reading of the original standard and applied exercises. The working software is Igloo (WTW), Remetrica (Aon), Moody's RMS, Python and R, in free, academic or evaluation versions. Testing is studied through real procedures: pricing excess of loss layers, optimising reinsurance programmes and analysing catastrophe bonds and ILS structures. Assessment is continuous by module, plus the final Master's Thesis.
Standards covered: Directive 2009/138/EC (Solvency II), Delegated Regulation (EU) 2015/35, IFRS 17, Regulation (EU) 2017/2402, Law 20/2015 (LOSSEAR), IAIS Insurance Core Principles (ICP) and ARIAS arbitration principles.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Where this takes you
Requirements
- A university degree in engineering, science or architecture, or equivalent demonstrable professional experience.
- An internet connection and a computer capable of running the programme's software.
- English sufficient to read technical standards.
Ready to start?
Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.
Frequently asked questions
The programme totals 1,900 hours over 12–14 months. You set your own pace within each intake, and your tutor helps you plan the workload around your job.
You work with Igloo (WTW), Remetrica (Aon), Moody's RMS, Python and R, using free, academic or evaluation versions. Your tutor indicates the free alternative wherever one exists.
A SEIUM Institute diploma, awarded on passing the continuous assessment and the Master's Thesis. It is SEIUM's own qualification, not an official state degree; its recognition depends on the programme completed and the regulations of each country.
Yes. Modules passed in a course or postgraduate diploma in the same area are recognised in the higher programme. Ask about the recognition policy when you enrol.
A university degree in engineering, science or architecture (or equivalent professional experience), a computer able to run the programme's software and English sufficient to read technical standards.
Start dates are set by SEIUM's faculty for each intake. Our admissions team will confirm the next available date when you apply.
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