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The actuarial profession has been consistently ranked for decades as one of the most desirable. Actuaries work comparatively reasonable hours, in comfortable conditions, without the need for physical exertion that may lead to injury, are well paid, and the profession consistently has a good hiring outlook. [9]
Wesley S. B. Woolhouse (1809–1893), English, co-founder of the Institute of Actuaries James Joseph Sylvester (1814–1897), English Ole Jacob Broch (1818–1889), Norwegian , founded Christiania almindelige gjensidige Forsørgelsesanstalt , Scandinavia 's first life insurance company
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. [1] It is a full member organization of the International Actuarial Association. [2]
Actuarial Association of Austria; Actuarial Association of Europe; Actuarial Society of Finland; Actuarial Society of Malaysia; Actuarial Society of the Netherlands; Actuarial Society of Turkey; American Academy of Actuaries; American Society of Pension Professionals & Actuaries
In order to sign statements of actuarial opinion, an American actuary must be a Member, American Academy of Actuaries (M.A.A.A.). [2] The Academy membership requirements are: Membership in one of the following societies: Associate or Fellow of the Casualty Actuarial Society. Associate or Fellow of the Society of Actuaries.
The Bornhuetter–Ferguson method was introduced in the 1972 paper "The Actuary and IBNR", co-authored by Ron Bornhuetter and Ron Ferguson. [4] [5] [7] [8]Like other loss reserving techniques, the Bornhuetter–Ferguson method aims to estimate incurred but not reported insurance claim amounts.
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. Actuaries are professionals trained in this discipline.
The IAA is the continuation of the Comité Permanent des Congrès d’Actuaires, established in 1895, as an association of individuals.It was renamed the IAA in 1968. At the 26th International Congress of Actuaries, held in Birmingham on 7–12 June 1998, the General Assembly of the International Actuarial Association restructured itself.