Master’s in Solvency, Capital and Reporting Engineering (Solvency II / IFRS 17 / RBC)
Online master's programme of 1,900 hours in solvency, capital and reporting engineering (Solvency II / IFRS 17 / RBC): 12 modules covering the Solvency II economic balance sheet, technical provisions, the SCR standard formula and internal models, ORSA, IFRS 17 measurement and presentation, risk-based capital, regulatory reporting and ALM, with an assigned technical tutor.
Master’s in Solvency, Capital and Reporting Engineering (Solvency II / IFRS 17 / RBC) — studying from the United Kingdom
Insurance and risk analysis are important sectors in the United Kingdom, with London's market, the City of London and Edinburgh's financial services hub employing large numbers of actuaries, risk analysts and data specialists. Engineering knowledge is increasingly valuable in assessing risk for vehicles, infrastructure, energy and emerging technologies. Insurers and reinsurers use modelling, catastrophe analysis and telematics data. Regulation by the Prudential Regulation Authority and the Financial Conduct Authority shapes professional practice in this area.
Fees for the United Kingdom: £6,600 (Pound sterling), with instalments and employer sponsorship available.
Relevant bodies in the United Kingdom
Typical roles
Questions from the United Kingdom
Which UK bodies relate to actuarial and risk qualifications, and does SEIUM's training count towards their exams?
In the UK, actuarial professional status is governed by the Institute and Faculty of Actuaries, which runs its own examinations and accreditation. SEIUM's training is not accredited by the IFoA or any national body, and it does not confer exemptions from those exams unless the IFoA itself decides so. Confirm exemption policies directly with the IFoA before enrolling.
Do UK insurers and risk firms hire people with private online engineering or data qualifications?
UK insurers and risk consultancies recruit on the basis of skills, experience and recognised credentials. A private qualification may support an application where it demonstrates applied data or risk modelling, but employers decide its value case by case. Practical project work often carries more weight, so present your final project clearly on your CV and in interviews.
How much study time is needed, and can I pay for it in instalments while working in the UK?
Programmes range from 300 hours for specialist courses to 1,900 hours for master's programmes, all delivered online in English. You are assigned a technical tutor for support. Fees are payable in instalments, and employer sponsorship is possible. Plan weekly study hours realistically, as the total hours are substantial for a part-time learner.
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
Build the economic balance sheet under Solvency II.
Calculate technical provisions and the risk margin.
Determine the SCR using the standard formula and internal models.
Measure insurance contracts in accordance with IFRS 17.
Compare the SCR, RBC and ICS capital regimes.
Prepare quantitative and narrative regulatory reporting.
Design capital management and ALM strategies.
Who it's for
- Solvency actuaries moving into capital modelling and regulatory reporting.
- IFRS 17 analysts looking to master the link with Solvency II.
- Regulatory reporting managers responsible for QRTs, SFCR and RSR.
- Capital managers in life and non-life insurers.
- ALM analysts who need a solid grounding in solvency capital.
- Actuarial consultants advising insurers and reinsurers on solvency.
- Engineering or science graduates seeking to enter life and non-life insurance.
What you'll work with
- Directive 2009/138/EC (Solvency II framework directive)
- Delegated Regulation (EU) 2015/35 (Solvency II implementing rules)
- IFRS 17 (insurance contracts)
- IFRS 9 (financial instruments)
- Implementing Regulation (EU) 2023/894 (supervisory reporting templates)
- Directive (EU) 2025/2 (amendment of Solvency II)
- NAIC Risk-Based Capital Model Act (US risk-based capital)
- IAIS Insurance Capital Standard (global insurance capital standard)
- Prophet (FIS)
- Moody's AXIS
- SAP FS-PER
- Tagetik
- Python
12 modules · 1900 h
1.1Market-consistent valuation principles1.2Asset valuation1.3EIOPA risk-free rate curve1.4Volatility and matching adjustments1.5Deferred taxes1.6Classification of own funds1.7Availability of own funds in groups1.8Reconciliation with financial statements1.9Closing calendar1.10Workshop: building a Solvency II balance sheet
2.1Segmentation by line of business2.2Best estimate in non-life2.3Best estimate in life2.4Cash-flow projection2.5Options and guarantees2.6Policyholder behaviour2.7Cost-of-capital risk margin2.8Permitted simplifications2.9Transitional measures2.10Practical exercise: best estimate for a funeral insurance portfolio
3.1Modular structure of the SCR3.2Market risk3.3Counterparty default risk3.4Life underwriting risk3.5Non-life underwriting risk3.6Health risk3.7Catastrophe risk3.8Operational risk3.9Aggregation and diversification3.10Lab: full SCR calculation with the standard formula
4.1Full and partial internal models4.2Approval requirements4.3Use test4.4Calibration at 99.5%4.5Economic scenario generators4.6Copula-based aggregation4.7Undertaking-specific parameters4.8Validation of internal models4.9Model changes4.10Case study: comparing the standard formula and an internal model
5.1The ORSA process5.2Overall solvency needs5.3Medium-term capital projection5.4Stress scenarios5.5Reverse stress testing5.6Capital planning5.7Dividends and capital management5.8Hybrid capital instruments5.9Contingency plans5.10Practical exercise: three-year solvency projection
6.1Scope and aggregation of contracts6.2General measurement model6.3Contractual service margin6.4Risk adjustment for non-financial risk6.5Premium allocation approach6.6Variable fee approach6.7Onerous contracts6.8Reinsurance contracts held6.9Transition: retrospective and fair value approaches6.10Lab: CSM calculation for a cohort
7.1Insurance service result7.2Insurance finance income and expenses7.3OCI option7.4Disclosures7.5Performance indicators under IFRS 177.6IFRS 9: classification of assets7.7Expected credit loss impairment7.8Interaction between IFRS 9 and IFRS 177.9Communication with analysts and investors7.10Case study: reading a set of accounts under IFRS 17
8.1Origins of the NAIC RBC8.2Components of non-life RBC8.3Components of life RBC8.4Regulatory action levels8.5Covariance adjustment8.6Comparison with the SCR8.7RBC in other jurisdictions8.8Bermuda: BSCR8.9IAIS Insurance Capital Standard8.10Practical exercise: simplified RBC calculation for an insurer
9.1QRT templates and XBRL taxonomy9.2SFCR report9.3RSR report9.4Group reporting9.5Financial stability reporting9.6Regulatory data quality9.7Reporting automation9.8Deadlines and process governance9.92020 review of Solvency II9.10Workshop: generating QRTs in XBRL
10.1Interest rate risk and ALM10.2Spread and credit risk10.3Longevity risk10.4Lapse risk10.5Inflation risk10.6Financial hedging10.7Reinsurance as mitigation10.8Future management actions10.9Capital efficiency10.10Case study: interest rate hedging strategy
11.1Solvency data architecture11.2Actuarial projection engines11.3Consolidation tools11.4Controls over the closing process11.5SFCR audit11.6Documentation and traceability11.7Model governance11.8Integrating IFRS 17 and Solvency II11.9Optimising closing deadlines11.10Practical exercise: designing controls for the reporting process
12.1Selection of the undertaking and scope12.2Building the economic balance sheet12.3Capital calculation12.4Measurement under IFRS 1712.5Comparative analysis of regimes12.6Projection and stress testing12.7Capital management recommendations12.8Conclusions12.9Master'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 it fits around your job.
Each module combines theory, guided reading of the original regulations and applied exercises. The working software is Prophet (FIS), Moody's AXIS, SAP FS-PER, Tagetik and Python, in free, academic or evaluation versions. Exercises are based on real procedures: calculating the SCR with the standard formula, measuring the contractual service margin under IFRS 17 and preparing QRT templates in XBRL. 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, IFRS 9, Implementing Regulation (EU) 2023/894, Directive (EU) 2025/2, NAIC Risk-Based Capital Model Act, IAIS Insurance Capital Standard.
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
- University degree in engineering, science or architecture, or equivalent demonstrable professional experience.
- Internet connection and a computer capable of running the programme 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 Prophet (FIS), Moody's AXIS, SAP FS-PER, Tagetik and Python, 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 degree in engineering, science or architecture (or equivalent professional experience), a computer able to run the programme 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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