how many actuaries are there in the uk
Actuarial credentialing and exams


modules of the Masters. Actuaries in South Africa are served by the Actuarial Society of South Africa (ASSA). Until recently the requirement to qualify as an actuary in South Africa was to pass the exams hosted by the UK bodies. Starting in 2010, a South African actuarial qualification hosted by ASSA has replaced this arrangement (ASSA's website). Key changes include exam syllabuses based on South African specific content. The UK actuarial professional bodies however still supports Actuaries qualification through the UK. Students may receive exemption from part of
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Institute and Faculty of Actuaries


Migration Advisory Committee in January 2013. On this occasion, the Actuarial Profession made no submission either way; neither for nor against a shortage of Actuaries. Despite the Actuarial Profession advising a shortage of Actuaries, freedom of information requests to the UK Border Agency (now superseded by UK Visas and Immigration) have revealed that only 19 people emigrated to the UK to work as an Actuary via the shortage occupation list from 1 November 2011 to 12 March 2013. The countries of origin for these migrants were as follows: Australia (6
6867012
Institute and Faculty of Actuaries


this list, UK employers have less restrictions for recruiting candidates directly from overseas; specifically from outside the EU. They would no longer need to complete a residency test, which involves demonstrating that a search for suitable candidates within the UK in the first instance has been unsuccessful. In November 2011, Actuaries were added to the UK Government's shortage occupation list. The Actuarial Profession had argued for Actuaries' inclusion on this list. Actuaries were removed from the shortage occupation list in April 2013 following a consultation by the UK Government's
6867011
Actuary


employment through a series of examinations (, ). In the UK, and countries based on its process, there is a hybrid university-exam structure . As these qualifying exams are extremely rigorous, support is usually available to people progressing through the exams. Often, employers provide paid on-the-job study time and paid attendance at seminars designed for the exams . Also, many companies that employ actuaries have automatic pay raises or promotions when exams are passed. As a result, actuarial students have strong incentives for devoting
20865410
Canadian Institute of Actuaries


the company, an annual report to boards of directors, and a report by the appointed actuary accompanying the published financial statements of companies. The Standards of Practice are precise and detailed descriptions of how actuaries, in all practice areas (e.g., actuarial evidence, pensions, life or property/casualty insurance), are to go about their work. They range from detailed instructions on how to make certain calculations to more general requirements as to what should be disclosed in actuarial reports. They are developed and adopted by the Actuarial Standards
20709186
Faculty of Actuaries


The Faculty of Actuaries in Scotland was the professional body representing actuaries in Scotland. The Faculty of Actuaries was one of two actuarial bodies in the UK, the other was the Institute of Actuaries, which was a separate body in England, Wales and Northern Ireland. While the Faculty of Actuaries and the Institute of Actuaries were separate institutions, they worked very closely together, and the professional qualifications and professional standards for actuaries were identical in each of them. On 25 May 2010, voting members of the Faculty who took part in
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Institute of Actuaries


Fellowship; leading to many referring to this as the “Fellowship paper.” However, as the rules on the ordering of examinations were relaxed, this examination may be taken before taking some earlier examinations resulting in candidates qualifying on other papers. The following list will be replaced by a new curriculum structure from 31 December 2018. "For students working in the UK only" A student may choose to complete an accredited actuarial science degree at an undergraduate or at a postgraduate level through a number of recognised universities. Successful students may
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Actuarial credentialing and exams


actuarial opinion . In the pension area, American actuaries must pass three examinations to become an Enrolled Actuary. Some pension-related filings to the Internal Revenue Service and the Pension Benefit Guaranty Corporation require the signature of an Enrolled Actuary. Many Enrolled Actuaries belong to the Conference of Consulting Actuaries or the American Society of Pension Professionals and Actuaries. In 2009, the Society of Actuaries began a high-level accreditation system for universities, recognizing the best actuarial schools as Centers of Actuarial Excellence. There are two sets of criteria that must
5724725
Actuarial credentialing and exams


course, which lasts a day, is offered by the Norwegian Society of Actuaries . In Portugal the only school that offers a degree in actuarial science is ISEG at the University of Lisbon. It is a two-year master's degree, fully integrated into the Bologna regimen. The programme is, since 2017/18, accredited by the Institute and Faculty of Actuaries in the UK, leading to exemptions based on the student overall performance during the course, or leading to exemptions from individual exams based on the student's performance in certain
5724711
Institute and Faculty of Actuaries


no powers with which to enforce 'any meaningful oversight of the IFoA'. The UK Treasury, supported by the Government Actuary, told the Review they wished to see effective regulatory oversight of the actuarial profession., and the Review recommended that the Government, working with the PRA and The Pensions Regulator (TPR), 'should review what powers are required effectively to oversee regulation of the actuarial profession'. Alongside this, a report by financial economist Kevin Dowd claimed that the Institute 'had allowed itself to be used as
6866998
Risk and actuarial criminology


code, or laws, it focuses on questions of how to minimize risk of entrenchments on private security for the general population. Power is a key concept within risk and actuarial criminology. Power is the highest most emergent form of social control, which contains many interlocking sets of networks such as schools, licensing agencies, organizations etc. This theory looks at the effect of these powers on risk, and the risk to our personal private security. Risk criminology studies changes such as the rise in private security. Risk criminology sees this
9853724
Hugh Herbert Wolfenden


Hugh Herbert Wolfenden (13 January 1892, Pangbourne, Berkshire, UK – 26 May 26, 1968, Seattle) was a Canadian actuary and statistician, known primarily as a scholar and historian of the statistical research of Erastus L. De Forest. Born in England, Wolfenden immigrated to Canada at the age of seventeen and worked as an actuary. For over twenty-five years, he was a consulting actuary in Toronto. In 1925 when four Protestant denominations merged into the United Church of Canada, he served as a consulting actuary
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Actuarial credentialing and exams


, Galway, Dublin City University, University College Cork. Some South African universities are also accredited by the Institute and Faculty of Actuaries. These universities include the University of Pretoria, University of Cape Town, Stellenbosch University, University of the Free State and the University of the Witwatersrand. ISEG in Lisbon, Portugal, offers the possibility of exemption from some professional exams of the Institute and Faculty of Actuaries. Note that the UK Profession is currently introducing the Certified Actuarial Analyst (CAA) qualification to "provide those working in financial
5724721
Enrolled actuary


pension plans. Segment L tests knowledge of relevant federal pension laws (in particular, the provisions of ERISA) as they affect pension actuarial practice. Enrolled actuaries generally work for human resource consulting firms, investment and insurance brokers, accounting firms, government organizations, and law firms. Some firms that employ enrolled actuaries combine two or more of these practice specialties. Many enrolled actuaries belong to one or more of the following organizations: the Society of Actuaries, the American Academy of Actuaries. the Conference of Consulting Actuaries or the American
15317271
Jeremy Gold


Street when he went to work at Morgan Stanley. At the time, many large businesses had become the targets of corporate raids and leveraged buyouts because, the bankers said, their pension plans had accumulated more funds than they needed. After a buyout, the buyer would take the "excess assets" out of the pension plan. Gold began to wonder how the plans had built up such big surpluses. Every pension plan had an actuary who calculated its annual contribution. He started to ask whether the advice pension actuaries were giving
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Conference of Consulting Actuaries


and Fellow of the Conference of Consulting Actuaries (FCA). As of March 2007, more than 1,200 actuaries belonged to the CCA. Many consulting actuaries attend continuing professional education meetings sponsored or co-sponsored by the Conference. Its three major annual meetings are the Enrolled Actuaries Meeting, co-sponsored with the American Academy of Actuaries; the Employee Benefits Spring Meeting, jointly sponsored with the Society of Actuaries; and the Conference's Annual Meeting. In addition to those meetings, the CCA also sponsors or co-sponsors a
12941878
List of Kim Possible characters


father (who works as an actuary), mother, and later, adopted little sister Hana. Ron and Hana's father who is an actuary. Because of his pet fur allergy Ron was never allowed to have a pet until he bought Rufus. Ron once wanted to be an actuary, but then Mr. Stoppable showed him how risk could lead to rewards. He also showed his skills in "Mathter and Fervent" when he used his actuarial skills to defeat the math villain terrorizing Ron. In his own words to the
3981857
Actuarial credentialing and exams


actuary", and after the third level and 3 years of related work experience the candidate becomes an "actuary". Qualification in the United Kingdom and Ireland consists of a combination of exams and courses provided by the professional body, the Institute and Faculty of Actuaries. The exams may only be taken upon having officially joined the body, unlike many other countries where exams may be taken earlier. Most trainee actuaries study while working for an actuarial employer using resources provided by ActEd (The Actuarial Education Company, a subsidiary of BPP
5724716
Joseph Burn


Sir Joseph Burn KBE, FRICS (1871–1950) was chairman of the Prudential Insurance company. He was a fellow of the Institute of Actuaries and served as the organization's president from 1926–1928. The "Sir Joseph Burn Prize" is awarded by the Institute of Actuaries to the UK student with the best performance in the actuarial exams, thereby becoming eligible to transfer to the Class of Fellow. Burn was married to Emily H. (née Smith) Burn. They were the parents of engineer Douglas Courtney Burn, Kathleen Esther Burn,
5632926
Actuarial science


Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance and other industries and professions. Actuaries are professionals trained in this discipline. In many countries, actuaries must demonstrate their competence by passing a series of rigorous professional examinations. Actuarial science includes a number of interrelated subjects, including mathematics, probability theory, statistics, finance, economics, and computer science. Historically, actuarial science used deterministic models in the construction of tables and premiums. The science has gone through revolutionary changes since the 1980s
16769383
Actuary


Board of Examiners of the Institute and Faculty of Actuaries stated, "Although students find it hard to believe, the Board of Examiners does not have fail quotas to achieve. Accordingly pass rates are free to vary (and do). They are determined by the quality of the candidates sitting the examination and in particular how well prepared they are. Fitness to pass is the criterion, not whether you can achieve a mark in the top 40% of candidates sitting." . In 2000, the Casualty Actuarial Society (CAS
20865412
Actuarial credentialing and exams


The actuarial credentialing and exam process usually requires passing a rigorous series of professional examinations, most often taking several years in total, before one can become recognized as a credentialed actuary. In some countries, such as Denmark, most study takes place in a university setting. In others, such as the U.S., most study takes place during employment through a series of examinations. In the UK, and countries based on its process, there is a hybrid university-exam structure. The education system in Australia is divided into three
5724698
Hewitt Associates


established offices in Paris, the Netherlands and Germany with the UK acting as European headquarters. In the late 1980s it merged with Bacon & Woodrow (actuaries) in the UK. The firm had brought in more than $250 million in revenues for 1990 and was ranked the fourth largest benefit management and consulting firm in the world, according to Business Insurance magazine. Yet many of Hewitt's clients were feeling the pinch of a struggling economy and inflation. As companies began looking for ways to bolster the bottom line, benefits were
724171
Faculty of Actuaries


before taking some earlier examinations resulting in candidates qualifying on other papers. "for students working in the UK only" A student may choose to complete an accredited actuarial science degree at an undergraduate or at a postgraduate level through a number of recognised universities. Successful students may offer proof of having covered the topics whilst at university and students may be granted exemptions from certain professional examinations from the Institute of Actuaries. Depending on the University, a different number of courses may be recognised for exemption. The examinations and the exemption pass level
11262235
Watson Wyatt Worldwide


130 years later. Reuben Watson formed the UK actuarial firm R. Watson & Sons in 1878. By the 1910s, the firm was the lead advisor to the government on social insurance programs. Over the years, the firm expanded throughout Europe, building on its long history of serving the UK’s largest companies. In 1946, B. E. Wyatt and seven co-founders established The Wyatt Company as an actuarial consulting firm. Over the next several decades, the U.S.-based firm branched out into other service lines, including health care and
17775554
Actuarial science


due to the proliferation of high speed computers and the union of stochastic actuarial models with modern financial theory . Robert de buys defines actuarial science as something that can continually be edited by the masses. Many universities have undergraduate and graduate degree programs in actuarial science. In 2010, a study published by job search website CareerCast ranked actuary as the #1 job in the United States . The study used five key criteria to rank jobs: environment, income, employment outlook, physical demands, and stress. A similar study by "
16769384
Actuarial credentialing and exams


the examinations for qualification from approved universities. The South Africa qualification does have mutual recognition with many of the international actuarial bodies as well as approval of the syllabus from the International Actuarial Association. One may obtain the Chartered Enterprise Risk Actuary (CERA) designation through the ASSA. Actuarial training in Sweden takes place at Stockholm University. The five-year master's program (for those with no previous university-level knowledge in mathematics, or without a bachelor's degree in mathematics) covers the subjects mathematics, mathematical statistics, insurance
5724713
Jeremy Gold


Service announced in 2013 that it would no longer use actuaries' calculations of pension liabilities for government-sponsored pension plans but would instead calculate the obligations themselves. The Governmental Accounting Standards Board, which dictates how governmental bodies account for expenses, began requiring the use of a more market-based interest rates to measure pension liabilities. The Actuarial Standards Board, which sets the rules by which actuaries perform their jobs, has slowly begun to move in his direction as well. Gold died on July 6, 2018, of myelodysplastic syndrome
21367603
Stuart A. Robertson


math department. After some research to find what an actuary actually did, he became intrigued. Milliman principal Stan Roberts once described actuaries as “doctors of probability,” in that their occupation involves calculating the likelihood of such things as how long an individual will live after retirement or how likely someone is to come down with a specific disease. These calculations are used by companies like insurance firms and financial institutions to calculate rates and decide what services to provide. From his research, Robertson learned that he could earn the status of
13384949
Actuary


financial theory, but for various historical reasons, these developments did not achieve much recognition . In the late 1980s and early 1990s, there was a distinct effort for actuaries to combine financial theory and stochastic methods into their established models . In the 21st century, the profession, both in practice and in the educational syllabi of many actuarial organizations, combines tables, loss models, stochastic methods, and financial theory , but is still not completely aligned with modern financial economics . As there are relatively few actuaries in the world compared to
20865406
Faculty of Actuaries


Voting members of the Faculty and Institute of Actuaries voted to merge the bodies to form the Institute and Faculty of Actuaries. After approval by the Privy Council, the Institute and Faculty of Actuaries came into being on 1 August 2010. This section is out of date and requires significant revisions. Qualification through the Faculty consisted of a combination of examinations and courses. The examinations could only be taken upon having officially joined the body, unlike many other countries where exams may be taken earlier; although a candidate was able to offer proof
11262230
Actuarial science


Historically, much of the foundation of actuarial theory predated modern financial theory. In the early twentieth century, actuaries were developing many techniques that can be found in modern financial theory, but for various historical reasons, these developments did not achieve much recognition . As a result, actuarial science developed along a different path, becoming more reliant on assumptions, as opposed to the arbitrage-free risk-neutral valuation concepts used in modern finance. The divergence is not related to the use of historical data and statistical projections of liability cash
16769398
Actuarial science


to combine financial theory and stochastic methods into their established models . Ideas from financial economics became increasingly influential in actuarial thinking, and actuarial science has started to embrace more sophisticated mathematical modelling of finance . Today, the profession, both in practice and in the educational syllabi of many actuarial organizations, is cognizant of the need to reflect the combined approach of tables, loss models, stochastic methods, and financial theory . However, assumption-dependent concepts are still widely used (such as the setting of the discount rate assumption as mentioned
16769400
Actuary


century studies of probability and annuities . Actuaries of the 21st century require analytical skills, business knowledge, and an understanding of human behavior and information systems to design and manage programs that control risk . The actual steps needed to become an actuary are usually country-specific; however, almost all processes share a rigorous schooling or examination structure and take many years to complete (, ). The profession has consistently been ranked as one of the most desirable . In various studies, being an actuary was ranked number one or two multiple
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International Association of Consulting Actuaries


The International Association of Consulting Actuaries (IACA) first met in 1960, and was formally constituted, separate from the International Actuarial Association (IAA), in 1968. It holds international meetings every other year to consider issues of concern to consulting actuaries. Much of the impetus for early meetings was stimulated by Max Lander and Geoffrey Heywood, who continued to play a prominent role in the Association for many years and were elected Emeritus Members of its Committee in 1976. The association now continues to remember their contributions by the regular presentation
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American Society of Pension Professionals & Actuaries


The American Society of Pension Professionals & Actuaries (ASPPA) is a national organization for career retirement plan professionals. The membership consists of the many disciplines supporting retirement income management and benefits policy. ASPPA represents those who have made a career of retirement plan and pension policy work. ASPPA was founded in 1966 originally as an actuarial organization. Since then ASPPA has expanded and diversified its membership to include all types of pension professionals — from actuaries, consultants, and administrators to insurance professionals, financial planners, accountants, attorneys, and human
42042
Lane Clark & Peacock


Lane Clark & Peacock (or LCP) is a firm of financial, actuarial and business consultants, specialising in the areas of pensions, investment, insurance and business analytics. The LCP group has over 600 staff and 100 partners and principals across offices in London and Winchester in the UK, Ireland, and The Netherlands in Europe. LCP was founded in 1947 and became a partnership in 1962. The company is a founding member of the Multinational Group of Actuaries and Consultants (MGAC), and is regulated by the Institute and
10872490
Faculty of Actuaries


home of Faculty Council the main purpose of the executive in Maclaurin House is to provide professional regulation services to all members of the UK Actuarial Profession. In November 2006 the incoming President of the Faculty announced his intention to investigate whether or not the time was now right to restructure to reflect the reality of the arrangements between the Faculty and the Institute and to move towards merger of the two bodies. After investigation and consultation of the issues Faculty Council elected to actively pursue merger with the Institute. On 17 March 2008 a group of
11262226
Morris Review


The Morris Review was a government-sponsored review of the UK actuarial profession led by Sir Derek Morris in 2004–05. It was commissioned in March 2004, in the aftermath of the near collapse of Equitable Life, and the subsequent findings of Lord Penrose's Equitable Life Inquiry The review found a number of problems with the actuarial profession, including insularity of approach, lack of transparency, failure to take account of developments in financial economics, and the influence of 'entrenched commercial interests'. The recommendations steered a course between continued self
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Financial Reporting Council


FRC) on 2 July 2012. Thus, FRC is now the authority that may issue accounting standards in the UK. The Financial Reporting Review Panel (FRRP) was established in 1990 as a subsidiary of the United Kingdom's Financial Reporting Council. The FRRP sought to ensure that the provision of financial information by public and large private companies complied with relevant accounting requirements such as the Companies Act 1985. The Accountancy & Actuarial Discipline Board (AADB) was the independent, investigative and disciplinary body for accountants and actuaries in the United
18621565
Andrew Lamb (writer)


He graduated in mathematics in 1963, gaining a master's degree in 1967 and a Doctorate of Letters in 2006. In addition to his musical work, he maintained a full-time career as an actuary and investment manager with major financial institutions in the UK, having qualified as a Fellow of the Institute of Actuaries in 1972. He married in 1970 and has two daughters and a son. He has been a member of Lancashire County Cricket Club since 1954. In 1980, Lamb was a member of the Arts Council of
3464895
Jardine Lloyd Thompson


Thompson Group to form Jardine Lloyd Thompson Group. In June 2007, it acquired Pavilion Insurance, and in June 2008, it announced the acquisition of Harman Wicks and Swayne. In July 2009, the company launched a new brand which removed the names of the firm ("Jardine Lloyd Thompson"), leaving simply the acronym JLT and an evolution of the pyramid device. In December 2009, the company acquired HSBC Actuaries and Consultants, a UK-based employee benefits and actuarial consultancy firm, for a purchase price of £
473390
Institute and Faculty of Actuaries


this as the “Fellowship paper.” However, as the rules on the ordering of examinations were relaxed, this examination may be taken before taking some earlier examinations resulting in candidates qualifying on other papers. "For students working in the UK only" This new qualification will be obtained after passing 6 modules. Module 0 tests basic mathematics (with a its syllabus based on the Foundational ActEd Course written by ActEd (The Actuarial Education Company)), Modules 1-4 tests parts of the CTs and Module 5 tests audit
6867006
Defined benefit pension plan


is funded through a payroll tax (FICA) that is paid by employees and employers. The proceeds of this tax are paid into the Social Security Trust Funds which had a balance of $2.804 trillion as of July 2014. The funding status of US Social Security is reviewed annually by the Social Security Office of the Chief Actuary. A report on the status of US Social Security is issued annually by the Social Security Trustees, projecting funding needs out 75 years. In many countries, such as the USA, the UK and
19301436
Life table


expectancy is rising substantially by looking at each other's healthcare, and adopting ideas to their own systems. In order to price insurance products, and ensure the solvency of insurance companies through adequate reserves, actuaries must develop projections of future insured events (such as death, sickness, and disability). To do this, actuaries develop mathematical models of the rates and timing of the events. They do this by studying the incidence of these events in the recent past, and sometimes developing expectations of how these past events will change
1977331
Actuarial science


U.S. News & World Report" in 2006 included actuaries among the 25 Best Professions that it expects will be in great demand in the future . Actuarial science became a formal mathematical discipline in the late 17th century with the increased demand for long-term insurance coverage such as burial, life insurance, and annuities. These long term coverages required that money be set aside to pay future benefits, such as annuity and death benefits many years into the future. This requires estimating future contingent events, such as the rates of mortality by
16769385
Petr Mandl


he returned to the University as a lecturer. In 1992, he revived studies of actuarial science in Czechoslovakia by introducing a course of Financial and Insurance Mathematics within the Department of Probability and Mathematical Statistics. For many years he tirelessly organised a Seminar in Actuarial Science () at University premises. Petr Mandl was a founding member of the Czech Society of Actuaries. In December 1995, he was elected chairman of the Society and re-elected twice in 1998 and 2001. During Mandl's tenure, the Society reached international recognition when
5724656
EMB Consultancy


Services Authority.The company also carries out regular research into UK consumer attitudes towards aggregators. Alongside its advice to clients on Solvency II, it has also investigated the potential financial impact of aspects of the EU-wide legislation due to come into effect in 2012. EMB staff were closely involved in the International Underwriting Association 2007 Bodily Injury Awards study. Several partners and consultants are also part of working parties for professional bodies such as the Institute of Actuaries and the Casualty Actuarial Society, covering subjects such as asbestos-related diseases and
10174450
American Academy of Actuaries


the Academy is non-partisan, it avoids taking specific policy positions in these publications. Most tend to discuss the fiscal and economic considerations as seen by actuaries. In many cases several policy alternatives are discussed, and advantages and disadvantages identified for each. In some cases the Academy provides formal written or oral testimony to Congress or other governmental bodies. The Academy is often asked by the National Association of Insurance Commissioners (NAIC) to provide input on actuarial issues, and has provided the NAIC with a number of reports and statements
16126146
Jim Tilley


. During his careers in the insurance industry and on Wall Street, Tilley wrote many pioneering research papers and was twice awarded the Society of Actuaries’ Annual Prize and also the Triennial Prize. His papers have also won awards from the Institute for Quantitative Research in Finance and the Casualty Actuarial Society. In 2008, he was named to receive the International Insurance Institute’s Founders’ Award for his seminal work in the field of asset liability management. Tilley has served on the Board of the Society of Actuaries, as Chair of The
18749821
Mathematician


: Many careers in mathematics outside of universities involve consulting. For instance, actuaries assemble and analyze data to estimate the probability and likely cost of the occurrence of an event such as death, sickness, injury, disability, or loss of property. Actuaries also address financial questions, including those involving the level of pension contributions required to produce a certain retirement income and the way in which a company should invest resources to maximize its return on investments in light of potential risk. Using their broad knowledge, actuaries help design and price
19256261
Actuarial credentialing and exams


entrance test can appear for the Core Technical papers. Italian actuaries also receive their training through university plus a single examination given by the state ("Esame di Stato"). The studies usually take a total of five years to complete, three ("Triennale") plus two ("Magistrale"), because students need to pass at least 30 exams (the exact number depends on the university and curriculum), many with both written and oral components on actuarial and economic topics. After university, to become qualified
5724707
Actuarial Society of South Africa


recognition with a number of other actuarial bodies including the Institute and Faculty of Actuaries in the United Kingdom, the Actuaries Institute in Australia and the Society of Actuaries in Ireland. The history of the Actuarial Society of South Africa began with the Actuaries' Club, which was formally established on 14 June 1937. The Actuaries' Club served the purposes of bringing the actuaries in the country together and operated in two sections, one in Johannesburg and one in Cape Town. While the Actuaries’ Club did some useful work in connection with
3050434
Conference of Consulting Actuaries


so include: The CCA was founded in 1950 as the Conference of Actuaries in Public Practice by seven actuaries who felt the need for a professional association to set standards and share information among consulting actuaries. At the time, the major American actuarial organizations — the Society of Actuaries and the Casualty Actuarial Society — were dominated by actuaries who worked for insurance companies. In October 1991, the Conference changed its name to the Conference of Consulting Actuaries. The Conference offers two designations, Associate of the Conference of Consulting Actuaries (ACA)
12941877
Chris Borland


including one with CBS News in which he stated that he believes football as a whole to be "inherently dangerous". In a December 2015 Frontline interview, Borland said, "Last year the NFL commissioned actuaries to estimate how many NFL veterans would have brain damage. And the number they came up with was 3 out of 10. So, if I turn on a game, and a third of the guys will have brain damage in life, I just, I can't really support that. And, I do
5187272
Institute of Actuaries


Actuaries, which came into being on 1 August 2010. The Institute of Actuaries ceased to exist on that date. The actuaries of a number of life assurance companies established the Institute of Actuaries in London on the 8th of July 1848. The Institute of Actuaries was the oldest actuarial professional body in the world. In July 1884, the Institute of Actuaries was granted a Royal Charter. The Royal Charter confirmed the Institute's role and the right to confer qualifications, i.e. the Fellow of the Institute of Actuaries (FIA).
12678577
Society of Actuaries


The Society of Actuaries (SOA) is a global professional organization for actuaries. It was founded in 1949 as the merger of two major actuarial organizations in the United States: the Actuarial Society of America and the American Institute of Actuaries. It is a full member organization of the International Actuarial Association. Through education and research, the SOA advances actuaries as leaders in measuring and managing risk to improve financial outcomes for individuals, organizations, and the public. The SOA’s vision is for actuaries to be highly sought-after professionals
19875793
Faculty of Actuaries


a ballot voted to merge the Faculty with the Institute of Actuaries, thus creating the Institute and Faculty of Actuaries which came into being on 1 August 2010, superseding the Institute of Actuaries which ceased to exist on that date. The Faculty of Actuaries was founded by 38 Scottish actuaries on 4 January 1856 with the aim of representing the interests of actuaries practicing in Scotland. In September 1868, the Faculty of Actuaries became the first actuarial organisation to be granted a royal charter. The Royal Charter confirmed the Faculty's role and the
11262224
Dorothy Nelkin


Dangerous Diagnostics" was a breakthrough book in other ways as well. It explored the contemporary social control purposes of medical testing, showing how new imaging and diagnostic tests extended institutional power from the arenas of work or education, into the personal lives of clients, patients, students and employees. Looking at predictive tests across a wide range of medical specialties, Nelkin and Tancredi suggested that the increasing preoccupation with testing in American society reflected intersecting tendencies of actuarial thinking and biological reductionism. Actuarial thinking encourages organizations and institutions to seek information about
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Frank Redington


Frank Mitchell Redington (10 May 1906 – 23 May 1984) was a noted British actuary. Frank Redington was best known for his development of Immunisation Theory which specifies how a fixed income portfolio can be "immunised" against changing interest rates. He was born in Leeds and attended Liverpool Institute for Boys, and Cambridge University. He joined the staff of the Prudential life insurance company in 1928 and became its Chief Actuary in 1951, continuing in that capacity until his retirement in 1968. He was the Chairman of the Life Offices
3736106
Gail Tverberg


Gail Tverberg is a retired US actuary interested in energy economics and relationships between energy, economics and finite world issues – fossil fuel depletion (oil, gas, coal), water shortages, and global warming. She combines physics and economics to explain that when they are low, oil prices show a lack of growth or even economic recession rather than a good economic health. In 1970, Gail Tverberg started working for the CNA insurance company as an actuarial trainee. This position gave her the opportunity to understand how inflation was about
7414551
Alexander Forbes Group Holdings


by further acquisitions of the businesses that formed Investment Solutions in the UK, Alexander Forbes Consultants and Actuaries (AFCA UK) and Media Insurance Services (Direct Marketing), and the expansion of LCP into Belgium, Ireland, The Netherlands and Switzerland. Between 2012 and 2014, the Group disposed of a number of these interests, including the sale of AFCA UK, Investment Solutions UK, Media Insurance Services,LCP Switzerland and Alexander Forbes Trustee Services to focus on its core markets. In 2006, Actis Capital LLP, Ethos Private
3641174
European embedded value


many years. Losses are possible for policies where the insured dies soon after signing the contract. And profitability is also affected by whether (and when) a policy might terminate early. An actuary calculates an embedded value by making certain assumptions about life expectancy, persistency, investment conditions, and so on - thus making an estimate of what the company is worth now. But if each person has a different opinion on how things will turn out, you could expect a range of inconsistent estimates of the worth of the company.
1506656
Triforce


British Army division 3rd Division and the Japanese Energy company Mitsuuroko (三つ鱗, three scales) use it in their logo, as did the Later Hōjō clan for its emblem ("mon"). The American Academy of Actuaries logo also depicts the three-triangle shape, just as the American company Accreditation Association for Ambulatory Health Care's logo. Many say the inspiration for the idea of using the Triforce in the Zelda series came from the Hōjō clan, and the incorporation of the symbol was similar to how Western games used
5070417
Institute of Actuaries of France


The Institute of Actuaries () is the association of actuaries in France. The Institute was created in 2001 by a merger of the Institute of Actuaries of France and the French Federation of Actuaries. The Institute is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2012, it has about 3 000 full members. Current president of the Institute is Thomas Behar. In France the education of future actuaries will be facilitated by the national education system. The actuarial profession in France, in itself, has
16399695
Canadian Institute of Actuaries


The Canadian Institute of Actuaries (CIA) is the national organization of the actuarial profession in Canada. It was incorporated on March 18, 1965. The FCIA designation stands for Fellow of the Canadian Institute of Actuaries. As the national organization of the Canadian actuarial profession, the CIA means to serve the public through the provision by the profession of actuarial services and advice by: representing the Canadian actuarial profession in the formulation of public policy; promoting the advancement of actuarial science and sponsoring programs for the education and qualification of CIA members
20709179
Actuarial Society of the Netherlands


Founded in 1888, the Actuarial Society ( ), is the professional association of actuaries in the Netherlands. Nearly all Dutch actuaries are members. The Actuarial Society has five sections: The objective of the Actuarial Society is, on the one hand, to make the actuarial profession better known and appreciated (among other means by research and publications, co-operation with other organisations, internationalisation, evolution and reglementation of the profession), and on the other to educate and train actuaries in terms of quality and integrity (through education
21884949
Enrolled actuary


An enrolled actuary is an actuary enrolled by the Joint Board for the Enrollment of Actuaries under the Employee Retirement Income Security Act of 1974 (ERISA). Enrolled actuaries, under regulations of the Department of the Treasury and the Department of Labor, perform a variety of tasks with respect to pension plans in the United States under ERISA. As of August 2016, there were approximately 4,200 enrolled actuaries. The Joint Board for the Enrollment of Actuaries administers two examinations to prospective enrolled actuaries. Once the two examinations have been passed, and
15317269
Czech Society of Actuaries


The Czech Society of Actuaries (CSA, ) is the association of actuaries in the Czech Republic. It aims to promote education and research in actuarial science and to mediate social and professional contacts among actuaries. The Society is a full member of the International Actuarial Association and the Actuarial Association of Europe. As of 2017, it has more than 280 members, 100 of them fully qualified. Current chairman of the Society is Jan Šváb. Actuarial mathematics started to be taught at the Prague Polytechnic in 1904, and the first students
17772406
Czech Society of Actuaries


, earlier Seminar in Actuarial Science). University examinations are also a common way to gain full membership of the association. The Society represents Czech actuaries within international actuarial community. In 1998, it became a full member of the International Actuarial Association, and after the country's accession to the European Union in 2004, the Society has also become a full member of the Groupe Consultatif. In 2019, the Czech Society of Actuaries is going to celebrate a century of actuarial associations in the country. The Czech Society of Actuaries offers
17772409
Slovak Society of Actuaries


The Slovak Society of Actuaries (SSA, ) is the association of actuaries in Slovakia. The Society was established in 1996. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2011, the Society has about 150 members, 25 of them fully qualified. Current chairman of the Society is Milada Jantošová. The Slovak Society of Actuaries was established in 1996. It aims to develop actuarial science in Slovakia and to promote actuaries within the local financial market. The Society represents Slovak actuaries in international
19083754
Canadian Institute of Actuaries


Actuarial Society of America, founded in 1889 in New York and included four Canadians among its 38 Charter Members. The original organization of actuaries in Canada, the Actuaries Club, was founded in 1907 with 24 charter members, all actuaries living and working in Toronto. The Canadian Association of Actuaries was established on October 8, 1946, and included all members of the Actuaries Clubs of Toronto and Winnipeg as well as a group of Montreal actuaries. This was the organization that formed the membership basis of the CIA when it was established
20709181
Danish Society of Actuaries


The Danish Society of Actuaries (DSA), or the Danske Aktuarforening, is the association for actuaries in Denmark. The Society held its first constituents meeting on 23 April 1901 and the first meeting of members on 31 May 1901. The objective of the Danish Society of Actuaries is to advance the body of knowledge of the actuarial science and to enhance the interest of the Danish actuary profession. The Danish Society of Actuaries is affiliated with the International Actuarial Association, of which all DSA members join, except for pensioners. The Danish
21885129
MigrationWatch UK


for itself a spurious statistical rationale". Andrew Green has rejected claims that his group have exaggerated immigration forecasts. Giving evidence to the House of Commons Home Affairs Select Committee in January 2006 he quoted an internal e-mail by a member of staff at the Home Office, which stated "I have made this point many times before, but can we please stop saying that Migration Watch migration forecasts are wrong. I have pointed out before that Migration Watch assumptions are often below the Government Actuary Department's high-migration scenario"
16513176
International Association of Black Actuaries


The International Association of Black Actuaries (IABA) is a tax-exempt, nonprofit professional organization that represents black actuarial professionals and students around the world. Its members include Fellows, Associates and students of the Society of Actuaries, the Casualty Actuarial Society, the Institute and Faculty of Actuaries, and Enrolled Actuaries originating from the United States, Canada, Caribbean and African nations. IABA's mission is to contribute to an increase in the number of black actuaries and to influence the successful career development, civic growth and achievement of black
20501170
Actuarial credentialing and exams


course of Actuarial Science in Statistics, Applied Statistics department. From 2015 Dhaka university and East west university are providing Master's in Actuarial Science. The Canadian Institute of Actuaries (the CIA) recognizes fellows of both the Society of Actuaries and the Casualty Actuary Society, provided that they have specialized study in Canadian actuarial practice. For fellows of the SOA, this is fulfilled by taking the CIA’s Practice Education Course (PEC). For fellows of the Casualty Actuarial Society, this is fulfilled by taking the nation specific Exam 6-Canada
5724702
Hewitt Associates


established its first office in the UK (based in Hemel Hempstead) under its own name, after joint ventures with various insurance-led consultancies broke down, and thus began its expansion abroad, offering compensation consulting, actuarial services and tailored benefit programs particularly to US corporations in the United Kingdom. Its UK growth was rapid on the back of 'Big-Bang' and the expansion of US technology and services companies into the UK/Europe market. Hewitt pioneered flexible benefits in the UK. Within 3 years it has also
724170
Kevin Dowd


the modelling of DC pension plans, and with Debbie Harrison, Blake and Dowd have recently published two reports into the state of the DC pensions market in the UK: "Caveat Venditor", which advocated that pensions should be governed by the principle of seller not buyer beware, and "VfM", which examined value for money in the UK pensions market. These reports were critical of the high charges, over-complexity and lack of transparency in the UK pensions industry. In the life actuarial field, Dowd and collaborators
622807
Institute and Faculty of Actuaries


the Institute and Faculty of Actuaries. The assets, liabilities and membership rights of the Faculty of Actuaries in Scotland were transferred on this same day to the Institute and Faculty of Actuaries and the Charter of the Faculty of Actuaries in Scotland was surrendered. Essential elements of the merger arrangements, such as the Scottish constituency and its representation on the Council of the Institute and Faculty of Actuaries, are incorporated into the new governance documents. Authority for the governance, control and strategic direction of the Institute and Faculty of Actuaries sits with the
6866994
Latvian Actuarial Association


The Latvian Actuarial Association (LAA, ) is the association of actuaries in Latvia. The association was established in 1997. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2008, the association has about 40 members, 19 of them fully qualified. Current chairman of the association is Gaida Pettere. The association was founded on 3 September 1997. It aims to develop actuarial science, education and practice in Latvia. The association represents Latvian actuaries in international actuarial bodies. In 2003, it
1022866
American Academy of Actuaries


The American Academy of Actuaries, also known as the Academy, is the body that represents and unites United States actuaries in all practice areas. Established in 1965, the Academy serves as the profession’s voice on public policy and professionalism issues. The American Academy of Actuaries' stated mission is to serve the public and the United States actuarial profession. To accomplish this: The vision of the American Academy of Actuaries is that financial security systems in the United States be sound and sustainable, and that actuaries be recognized as preeminent experts
16126143
Society of Actuaries


along with its public relations firm Golin, won the PR Week Corporate Branding Campaign of the Year award for 2008. The award was given for the SOA's efforts to revitalize the actuarial profession's brand in the U.S., including the slogan "Risk is Opportunity." The Society was founded as a merger of two major American actuarial associations, as reflected in its : the Actuarial Society of America (ASA) and the American Institute of Actuaries (AIA). The Actuarial Society of America was the first actuarial professional association in
19875795
Institute of Actuaries of India


The Institute of Actuaries of India is the sole professional body of [actuary|actuaries] in India. It was formed in September 1944 by the conversion of the Actuarial Society of India into a body corporate by virtue of the Actuaries Act, 2006. In 1979, it was admitted to the International Actuarial Association as a member. On 14 December 1982, it was formally registered under Registration of Literary, Scientific and Charitable Societies Act XXI of 1960. A certificate of registration of the ASI under section XII AA of Income Tax Act was
21884980
International Actuarial Association


. The major responsibilities of the IAA are now in the hands of the actuarial associations, which bring together the actuaries in their respective countries and is the link between the actuaries and the actuarial associations worldwide. The IAA is the unique international organization dedicated to the research, education and development of the profession and of actuarial associations. The IAA has seven sections, ASTIN, AFIR/ERM, IACA, IAAHS, PBSS, AWB and LIFE. The ASTIN Section stands for Actuarial Studies In Non-life insurance and was founded in
6771994
Society of Actuaries of Indonesia


The Society of Actuaries of Indonesia () is the association of actuaries in Indonesia. The association was established in 1964. It is a full member of the International Actuarial Association in 2005. As of 2011, the association has about 180 fully qualified members. Society of Actuaries of Indonesia was founded in 1964 by top executives who worked in insurance company and actuarial consulting firm. In the beginning this organization consists of only 25 members. As government created new regulation to extend actuarial role in insurance industry, now the members of the
14840318
American Academy of Actuaries


in risk and financial security. The Academy, in 1988, created the Actuarial Standards Board (ASB) as an independent entity, supported by AAA staff. The ASB serves as the single board promulgating standards of practice for the entire actuarial profession in the United States. The ASB was given sole authority to develop, obtain comment upon, revise, and adopt standards of practice for the actuarial profession. In order to sign statements of actuarial opinion, an American actuary must be a "Member, American Academy of Actuaries" (
16126144
Society of Actuaries in Ireland


The Society of Actuaries in Ireland is the professional body of Irish actuaries. The Society was founded on 3 May 1972 by seventeen members of the Institute and the Faculty of Actuaries residing in Ireland. Since then, the membership has grown to more than 1 000. Current president of the Society is Maurice Whyms. The Society is a full member of the International Actuarial Association and the Actuarial Association of Europe. The Society of Actuaries in Ireland offers five types of membership: The Society does not hold its own examinations and its members
18555358
Brazilian Institute of Actuaries


requires professional actuaries to present one of following documents for registration: Bachelor’s degree in actuarial science, duly recognized and registered with the National Department of Education or Bachelor’s degree in actuarial science from a recognized foreign institution and accepted by the National Department of Education. In 2002, the International Actuarial Association (IAA) defined a minimum standard syllabus for Actuarial Science courses, with which all affiliated actuarial associations will be required to comply by 2005. With this purpose, and as a member of the IAA, the IBA is committed
21913031
Actuarial credentialing and exams


requirement for a master's thesis . By Danish law, responsibility for the practise of any life insurance business must be taken by a formally acknowledged and approved actuary. Approval as a formally responsible actuary requires three to five years of professional experience. Current rules for the German Actuarial Society require an actuary to pass more than 13 exams. In Greece the only specialized school of actuaries are the Department of Statistics and Insurance Science of the University of Piraeus and the Statistics and Actuary-Finance Mathematics of the University of the Aegean, in
5724704
Actuarial credentialing and exams


and actuarial roles at a technical level around the world with valuable skills and a well respected qualification". In the U.S., for life, health, and pension actuaries, exams are given by the Society of Actuaries, while for property-casualty actuaries the exams are administered by the Casualty Actuarial Society. The Society of Actuaries’ requirements for Associateship include passing five preliminary examinations, demonstrating educational experience in economics, corporate finance, and applied statistics—called validation by educational experience (VEE), completing an eight-module self
5724722
Institute and Faculty of Actuaries


The Institute and Faculty of Actuaries is the professional body which represents and regulates actuaries in the United Kingdom. The Institute and Faculty of Actuaries came into being on 1 August 2010 as a result of the merger of the Institute of Actuaries and the Faculty of Actuaries in Scotland after voting members of both bodies voted to merge their respective organisations in a ballot held on 25 May 2010. The Queen in Council granted an amendment effective 1 August 2010 to the Charter of the Institute of Actuaries in terms that converted it to the Charter for
6866993
Society of Actuaries


competitive exams. Topics covered in the exams include mathematics, finance, insurance, economics, interest theory, life models, and actuarial science. Non-members working in the actuarial profession and taking exams are often referred to as actuarial students or candidates. Members of the SOA who meet a professional experience requirement are eligible for membership in the American Academy of Actuaries, which represents United States actuaries from all practice areas. Professional designations in the Society are earned by completing a rigorous system of examinations. It is common for actuarial students
19875803
Canadian Institute of Actuaries


and prospective members; ensuring that actuarial services provided by its members meet accepted professional standards; and assisting actuaries in Canada in the discharge of their professional responsibilities. The beginning of the actuarial profession in Canada can be dated in 1847, when the Canada Life Insurance Company was founded in Hamilton, Ontario, by Hugh Baker, who became a Fellow of the Institute of Actuaries in 1852. The federal Department of Insurance was established in 1875 and shortly thereafter recruited actuaries to its staff. The first actuarial organization in North America was the
20709180
Actuary


clock work by day and night teams of actuaries . In the 1930s and 1940s, rigorous mathematical foundations for stochastic processes were developed . Actuaries began to forecast losses using models of random events instead of deterministic methods. Computers further revolutionized the actuarial profession. From pencil-and-paper to punchcards to microcomputers, the modeling and forecasting ability of the actuary has grown exponentially . Another modern development is the convergence of modern financial theory with actuarial science . In the early 20th century, actuaries were developing techniques that can be found in modern
20865405
Actuary


other professions, actuaries are in high demand, and are highly paid for the services they render (, ). , in the United States, newly credentialed actuaries on average earn around $100,000 per year, while more experienced actuaries can earn over $150,000 per year . Similarly, survey in the United Kingdom indicated a starting salary for a newly credentialed actuary of about £50,000; actuaries with more experience can earn well in excess of £100,000 . The actuarial profession has been consistently ranked for decades as one of the most
20865407
Actuarial Society of the Netherlands


and quality control, seminars and meetings). Eligible for the membership of the AG are fully qualified actuaries who have acquired the Actuary Certificate of the Actuarial Institute and those who work in the Netherlands as members of foreign sister associations with which the AG has concluded an admission agreement. Members of the AG are authorised to use the title of AG Actuary (AAG). Besides members, the AG recognises affiliate members. Full members automatically join the worldwide association of actuaries—the International Actuarial Association—and the European organisation, the
21884950
Institute of Actuaries of India


till then the accreditation was based on Institute of Actuaries, London examinations (now Institute and Faculty of Actuaries.). The IAI has grown as well with around 9,182 student members joining the society. The current president of IAI is Mr. Sunil Sharma. ASI is founding member of the International Actuarial Association, the umbrella organization for all actuarial bodies across the world. The ASI is actively involved in the formulation of future education strategy of International Actuarial Association. Actuaries usually belong to one or more professional bodies, often national in scope
21884984
Society of Actuaries


who develop and communicate solutions for complex financial issues. The SOA provides primary and continuing education for students and practicing actuaries, maintains high professional standards for actuaries, and conducts research on actuarial trends and public policy issues. A global organization, the SOA represents actuaries from all major areas of practice, including life and health insurance, retirement and pensions, investment and finance, enterprise risk management, and general insurance (property and casualty) insurance. The Casualty Actuarial Society also represents actuaries working with property and casualty. The SOA,
19875794
Actuarial Society of South Africa


fellowship of the Society was obtained through exams written through other recognised actuarial organisations, mostly the Institute of Actuaries in London or the Faculty of Actuaries in Edinburgh. Since 2010, fellowship has been obtained by passing a set of prescribed examinations of the Actuarial Society of South Africa. Following qualification, Fellow members may add "FASSA" (Fellow of the Actuarial Society of South Africa) after their names and Associate members may add "AMASSA" (Associate Member of the Actuarial Society of South Africa). The FASSA qualification has mutual
3050433
Actuarial credentialing and exams


Analyst (CERA) through either the SOA or the CAS. To sign certain statements of actuarial opinion, however, American actuaries must be members of the American Academy of Actuaries. Academy membership requirements include membership in one of the recognized actuarial societies, at least three years of full-time equivalent experience in responsible actuarial work, and either residency in the United States for at least three years or a non-resident or new resident who meets certain requirements . Continuing education is required after certification for all actuaries who sign statements of
5724724