Master in Quantitative Finance and Insurance at University of Turin

Two-year English-taught master in Turin with Finance or Insurance and Statistics curricula, covering stochastic calculus, asset pricing, derivatives, fixed income, quantitative risk management and Python.

Master

2 years

Turin

English

University of Turin

University logo
gross-tution-fee
Can be tuition-free for eligible students
Tuition per year
program-duration
2 years
Programme duration
For eligible students, we prepare the application for the
EDISU Piemonte
scholarship for
Università degli Studi di Torino

This programme can be tuition-free for eligible students. Check if you are eligible and book a one-to-one consultation session with one of our Italy experts.

University campus
Offered by
University of Turin
Public university · Piedmont · Founded 1404
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In short

The Master in Quantitative Finance and Insurance is a two-year, 120 ECTS degree (class LM-83-R) taught in English by the University of Turin's ESOMAS department, with Finance or Insurance and Statistics curricula. It covers stochastic calculus, asset pricing, derivatives and risk management. Fees follow the country of residence, and this programme can be tuition-free for eligible students.

Degree
Master
Degree class
LM-83-R
Credits
120 ECTS
Duration
2 years
Language of instruction
English
Intake
2027/28, autumn intake (calendar pending)
Entrance test
Documented academic assessment and English/admission interview.
Language requirement
English at least B2, verified during the admission interview.

Entry requirements

Detailed entry requirements

Quantitative Finance and Insurance requires a suitable first degree, a quantitative-credit share, one of the international portal’s academic consideration criteria and adequate preparation/English. Open access still requires documented admission assessment. Current 2026/27 sources were reviewed on 6 October 2026. [1-6]

First degree and at least 15% quantitative credits

Hold a first-cycle degree earned after at least three years of university education, a three-year university diploma or suitable recognised foreign equivalent. The international portal requires at least 15% of your credits in one or more of mathematics; statistics and mathematical methods for decisions; econometrics; or computer science. The percentage is calculated against the qualifying degree’s credit total. It is a combined quantitative share, rather than 15% separately in each subject. [1, 2]

For example, 15% of a 180-ECTS degree is 27 ECTS. For a different degree total or a record expressed in local credits/study hours, we supply the official record so the committee can assess the corresponding share. We identify the actual mathematical, statistical, econometric and computing courses; business/economics course titles alone do not necessarily show eligible quantitative content. We include syllabi and grading/credit-system information when requested. [1, 4]

International academic criteria: institution route or grade route

The current international listing says it considers applicants satisfying at least one of two criteria: (i) the first-cycle degree comes from an institution in the top 12.5% of the RePEc ranking of economics departments; or (ii) the final degree grade is at least 9.5/10 of the highest possible grade. The portal gives 105/110 as its example for an Italian degree. These alternatives sit alongside the quantitative-credit requirement and adequate preparation. [1]

The institution criterion refers specifically to the RePEc economics-department ranking, rather than any general university ranking or an institution’s national reputation. The grade criterion requires equivalence assessed in the issuing system; the printed 9.5/10 and 105/110 references are reported here as the university states them. Satisfying an alternative makes your file eligible for consideration; it does not secure a positive assessment or enrolment. [1]

B2 English, academic assessment and computer competence

The international portal requires English at least B2 and verifies it during the admission interview. The catalogue requires English adequate to participate successfully in the degree. The reviewed programme listing does not print a universal IELTS, TOEFL or PTE score or a compulsory standardised certificate. We supply any additional evidence requested in the actual file. A test requirement printed for another Turin programme does not apply to this one. [1, 2]

The catalogue identifies practical competence with word processing, spreadsheets, databases and presentation tools as essential. Applicants must demonstrate the curricular requirements and adequate personal preparation; enrolment with academic gaps is not allowed. A documented admission application must be submitted according to the programme’s procedure. The interview and committee review remain necessary where assigned, even if the degree meets the percentage and grade/institution criteria. [1, 2]

What to make clear in the application file

The file needs the qualifying first degree, full transcript, CV, motivation letter and central identity/authenticity documents. We make the quantitative-credit proportion easy to verify by identifying each relevant course and its official credits/hours, without replacing the university’s assessment with our own conversion. We show the final grade and grading-system maximum, or the evidence relevant to the institution-ranking route, and supply further syllabi or verification documents when requested. [1, 4]

The portal reserves 50 places for non-European applicants residing abroad. The quota is category-specific; it does not remove the degree, quantitative background, academic consideration, interview or English requirements. The reviewed current sources do not describe an automatic GRE/GMAT substitution for the stated criteria. We follow your committee outcome and the international office’s instructions for final enrolment. [1, 2, 5]

Recognition and the complete foreign-qualification file

The university requires a first-cycle or integrated qualification at the relevant EQF/EHEA/ISCED level 6, obtained after at least 15 total years of education, and assesses recognition/accreditation, qualification level, duration, academic rights and document authenticity. The file must include the first-cycle or integrated award and any intermediate qualification used to reach it; a master’s or doctorate alone does not replace the entry qualification. Curricular suitability for this programme remains a separate condition. [3, 4]

The file needs the qualifying degree and a full transcript recording all examinations, grades, study hours and/or credits, with all informative pages and reverse sides; a CV; and a motivation letter in English or Italian, plus programme-specific language, subject and assessment evidence. An official international-model Diploma Supplement can replace degree/transcript documents only if it includes complete records, is signed/sealed and carries required authenticity evidence. [1, 4]

The file needs valid identity evidence: an ID for eligible Italian/EU/equivalent applicants, or a passport for non-EU applicants. Non-EU residents in Italy need the applicable permit allowing university enrolment. Documents are accepted in Italian, English, French or Spanish; otherwise both originals and certified translations into an accepted language are needed. Unsigned or unstamped/unsealed documents and incomplete applications are not accepted. [4]

If you graduate later, we upload your official last-year enrolment certificate identifying the study path and expected qualification, plus an official transcript/score report for completed semesters. The final qualifying award is necessary for enrolment. Detailed syllabi, the grading scale and a Declaration of Value/CIMEA Comparability are useful and can become mandatory if the office or programme requests them. [4]

2026/27 international calls and application fee

Foreign qualifications normally require an Apply@UniTo application, regardless of citizenship, except the university’s explicitly exempt categories. One application permits selection of up to two programmes. We work from the programme’s checklist as well as the central document requirements. [3, 4]

For 2026/27, the principal postgraduate application window was 25 November 2025 to 29 January 2026. The second open-access postgraduate call was 25 August to 8 September 2026 and restricted to Italians, EU/equivalent applicants and non-EU citizens legally resident in Italy. Both windows have closed at the review date. The October window on the central page concerns undergraduate and five/six-year degrees, rather than these two-year master’s programmes. No confirmed 2027/28 calendar is provided in the reviewed sources. [3]

For non-EU visa applicants abroad, the published 2026/27 Universitaly pre-enrolment deadline was 15 July 2026 for this category of programme. We select the correct academic year, one programme and the competent diplomatic representation. University eligibility or Universitaly validation does not complete university enrolment or determine the embassy’s visa decision. [3]

Departmental admission, MyUniTo and final enrolment

This programme appears in the university’s open-access postgraduate procedures. After the required academic evaluation, we follow the department’s own instructions and dates. The listed local preliminary route is type A: Pre-enrolment for courses with free admission. For a foreign qualification, this local procedure must be read together with the international application instructions; it does not create a replacement Apply deadline. [3, 6]

The ordinary 2026/27 MyUniTo enrolment window runs from 23 July 2026 at 09:30 to 14 January 2027 at 15:00 Italian time, subject to any earlier programme-specific deadline. Registration requires the academic clearance, valid identity document, suitable photograph and Italian tax-code details. International students cannot independently pay the first instalment: the International Students Office checks the request and emails payment instructions. [5, 6]

A later first-payment completion date of 31 March 2027 at 15:00 is available under the central policy only for students already admitted to a first year with open access who followed all required enrolment procedures on time but still lack documentation. This is not a new admission round or a universal extension of departmental requirements. [5]

For non-EU applicants abroad, final payment/enrolment requires the appropriate 2026/27 study visa, residence-permit application receipt, official Italian fiscal code and complete authenticated study documentation. We follow the current instructions for supplying the permit after issuance. Applicants in other categories supply their corresponding identity/residence and study records. [4, 5]

Authenticity evidence and final academic records

Final enrolment requires verification of the degree and transcript. Accepted methods depend on the issuing system and can include legalisation, an apostille, ENIC-NARIC verification or an accepted official digital service. The university specifies direct sharing procedures for electronic transcripts. Translation, comparability and authenticity are different checks; a translated document alone does not establish that it is authentic. [4]

The university can request additional qualification evidence or originals. Providing valid authenticity evidence at application can speed up final checks; an optional CIMEA comparison document is not mandatory for every initial application. We track each document actually requested in your applicant file against the applicable dates. [4, 5]

Sources and verification

  1. University of Turin, Apply@UniTo course 288: Quantitative Finance and Insurance, 2026/27 listing; reviewed 6 October 2026.
  2. University of Turin, Quantitative Finance and Insurance, current degree catalogue with 2026/27 teaching entries, Admission requirements; publication date not stated; reviewed 6 October 2026.
  3. University of Turin, Application for international students, current 2026/27 guidance; reviewed 6 October 2026.
  4. University of Turin, Required documents for international students, standing qualification and document guidance; reviewed 6 October 2026.
  5. University of Turin, Enrolment for international students, current 2026/27 guidance; reviewed 6 October 2026.
  6. University of Turin, Postgraduate degrees with free admission, 2026/27 procedures; reviewed 6 October 2026.

About the programme

Quantitative Finance and Insurance is a two-year master's degree in class LM-83-R, statistical, actuarial and financial sciences.

It is worth 120 ECTS, taught in English in Turin by the Department of Economic-Social and Mathematical-Statistical Sciences (ESOMAS), and has open access subject to curricular requirements and adequate preparation.

Students choose between two curricula, Finance and Insurance and Statistics, which share a quantitative core in probability, stochastic calculus, asset pricing and numerical methods. It suits graduates with a strong quantitative background who want a technical career in finance or insurance.

What you will study

The first year is 63 ECTS of required units with Python programming built in; in the Insurance and Statistics curriculum, insurance techniques and mathematics for insurance take the place of corporate finance and econometrics.

The second year covers derivatives, fixed income and risk management, one elective and the final examination. Units in the 2026/27 study plan include:

  • Stochastic Calculus and Mathematical Finance (6 ECTS)
  • Numerical and Statistical Methods for Finance (12 ECTS)
  • Asset Pricing and Portfolio Choice (9 ECTS)
  • Econometrics II (12 ECTS, Finance)
  • Life and Non-Life Insurance Techniques (12 ECTS, Insurance and Statistics)
  • Computer Science with Python, and Python and Decentralized Finance (3 ECTS each)
  • Derivatives (9 ECTS) and Quantitative Risk Management (9 ECTS)
  • Fixed Income (6 ECTS)

How the programme is taught

In the second year you pick one elective from options such as statistical machine learning, sustainable finance, banking, advanced asset pricing, advanced stochastic calculus, multivariate statistical analysis and the economics of savings and pensions.

The degree ends with a final examination worth 15 ECTS. The programme website also promotes Erasmus+ study and traineeship opportunities abroad.

Career paths

The university's professional profile for this degree lists roles in markets, banking and insurance:

  • Stock market operator
  • Financial consultant
  • Financial mathematician
  • Insurance agent
  • Bank branch manager
  • Research economist

The core in derivatives, fixed income and quantitative risk management is the technical side of these roles.

Fees and scholarships

There is no special fee for this degree.

Students residing abroad pay UniTo a yearly contribution based on the GDP per capita of their country of residence. EDISU Piemonte scholarship winners and eligible students do not pay the tuition instalments, so this programme can be tuition-free for eligible students.

UniTo also offered 40 two-year Talents 4 UniTo scholarships for English-taught open-access master's in 2026/27.

How to apply from outside the EU

Applicants with a foreign qualification apply through Apply@UniTo. We check your file against this programme’s academic, language and assessment requirements and submit the complete document file. The detailed requirements section sets out the published 2026/27 deadlines, any test/interview exemptions and the separate final-enrolment stages. [1-6]

How ApplyAZ helps

ApplyAZ is an Italy-based consultancy that works only with public universities. We can include this programme in a shortlist of 20 to 30 English-taught programmes that fit your profile, so your plan never rests on a single application.

For eligible students who start with us, a named person owns each stage, from A to Z:

  • We check your transcript against Turin's entry rules for this programme.
  • We write your CV and a tailored statement of purpose.
  • We prepare and submit your Apply@UniTo application and Universitaly pre-enrolment.
  • We help you declare your family income for reduced fees and file your EDISU Piemonte scholarship application at the right time and in the right format.
  • We prepare your visa file.

With operations in all 20 Italian regions, we follow each region's scholarship rules and deadlines as they change. The university decides admission, the region decides the scholarship and the consulate decides the visa, so no one can promise an outcome. You pay in milestones, and every service you pay for is either delivered or its fee is refunded (terms apply).

Programmes at Italian public universities can be tuition-free for eligible students. Check if you are eligible and book a one-to-one consultation session with one of our Italy experts, or see how ApplyAZ works.

Questions and answers

What quantitative credits are required?

At least 15% of your degree credits in mathematics, statistics/mathematical methods for decisions, econometrics or computing, combined, not 15% in each. For a 180-ECTS degree, 15% is 27 ECTS. The committee assesses foreign equivalents. [1]

I have a B.Com or BBA. Can I apply?

It depends on your quantitative share. At least 15% of your credits must be in mathematics, statistics, econometrics or computer science, and you must meet the RePEc institution or 9.5/10 grade criterion. We map your courses and grades against these rules. [1]

Is 9.5/10 compulsory for every applicant?

No. The portal gives an alternative: a first-cycle degree from an institution in the top 12.5% of RePEc’s economics-department ranking. Applicants must still satisfy the quantitative background and preparation requirements. [1]

Does a qualifying grade secure admission?

No. Meeting the portal’s grade or institution criterion makes the application eligible for consideration. The commission still assesses the curriculum, personal preparation and English. [1, 2]

What English test score is required?

The portal requires at least B2 English, checked at interview. It does not print a universal IELTS, TOEFL or PTE numerical threshold for this programme. [1]

When is the deadline for non-EU students?

For 2026/27, the main postgraduate window ran from 25 November 2025 to 29 January 2026, and the Universitaly deadline for non-EU visa applicants was 15 July 2026. No 2027/28 calendar has been published yet. [3]

Can I apply before graduating?

Yes. If you graduate later, we upload your official last-year enrolment certificate and a transcript for completed semesters. You need the final qualifying award to enrol. [4]

Can I enrol with missing preparation?

The catalogue does not allow enrolment with academic gaps. You need a positive documented admission assessment and must meet the required academic and language conditions before enrolment. [2]

Can someone handle my whole application to Quantitative Finance and Insurance at Turin?

Yes. ApplyAZ, an Italy-based consultancy that works only with public universities, checks your transcript against Turin's rules for this programme, handles the application and Universitaly pre-enrolment, helps you file the EDISU Piemonte scholarship application at the right time and in the right format, and prepares your visa file, for eligible students. Start by checking your eligibility.

I'm applying from India. What is the route into Quantitative Finance and Insurance?

Indian applicants need a three-year bachelor's with at least 15% of credits in mathematics, statistics, econometrics or computer science [1, 2]. You also need a final grade of at least 9.5/10 of the maximum, or a degree from an institution in the top 12.5% of RePEc economics departments [1]. English B2 is checked at interview [1]. We map your credits and handle Apply@UniTo and Universitaly. Indian students apply for the type D study visa at the Italian embassy or consulate that covers their state, such as New Delhi, Mumbai or Bengaluru.

Is the route different from Pakistan, Bangladesh or Sri Lanka?

No. The academic rules for Quantitative Finance and Insurance are the same whatever your nationality. Applicants from Pakistan, Bangladesh and Sri Lanka follow the same steps as India: an Apply@UniTo application, the committee assessment and interview, and Universitaly pre-enrolment, then a type D study visa from the Italian mission for their country of residence. Read our guide for students in Dhaka.

I live in the UAE, Saudi Arabia, Qatar, Kuwait, Oman or Bahrain. Where do I apply for the visa?

At the Italian embassy or consulate responsible for the country where you legally live, after Universitaly pre-enrolment. The academic rules for Quantitative Finance and Insurance are the same whatever your nationality, and Gulf residents follow the same steps: an Apply@UniTo application, the committee assessment and interview, and Universitaly pre-enrolment. Read our guides for Dubai, Riyadh and Doha.

I studied or live in London, New York, Toronto, Vancouver, Singapore or Kuala Lumpur. What is the route?

The academic rules for Quantitative Finance and Insurance are the same whatever your nationality, and your degree is assessed like any other foreign qualification. Non-EU applicants who live abroad follow the same route: an Apply@UniTo application, the committee assessment and interview, and Universitaly pre-enrolment, then a type D study visa from the Italian mission for where they live. Read our guides for students in London, New York, Toronto, Vancouver, Singapore and Kuala Lumpur.

Last checked against the university's official pages:
September 25, 2026
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