East China Normal University was one of the earliest universities in China approved to establish programs in Probability and Mathematical Statistics. In 1986, Probability and Mathematical Statistics was approved by the original State Education Commission to establish a doctoral program. In 1987, it became a national key discipline. It was one of the earliest three national key disciplines of Probability and Mathematical Statistics in China.

The School consists of the Department of Statistics and Actuarial Science, the Department of Risk Management and Insurance, and the Department of Financial Engineering. It has a post-doctoral research program in Statistics, a doctoral program in Statistics, three master’s programs (Master of Statistics, Master of Applied Statistics, Master of Insurance) and three undergraduate programs (Statistics, Financial Engineering, Insurance).