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actuary Definition

ac·tu·ary (akc̸ho̵̅o̅ er′ē)

noun pl. -·ies

a person whose work is to calculate statistically risks, premiums, life expectancies, etc. for insurance

Etymology: L actuarius, clerk < actus: see act

actuary Finance Definition

A specialist in mathematics who is employed by an insurance company or other financial institution. For example, an insurance actuary reviews the data of claims filed by policyholders to determine how risk should be priced. The actuary recommends the amount of premiums that should be charged, the amount of reserves that should be kept, and the amount of dividends paid. Actuaries in other companies attempt to project results and potential outcomes by analyzing numerical data.

actuary Law Definition

n

One who computes insurance and property costs, such as the cost of insurance premiums and risks.

actuary Usage Examples

Converse of object

  • appoint: The main change will be over the role of the appointed actuary, who plays the central role in determining bonuses.
  • nominate: L.3 I don't know who the nominated senior actuary is in my firm.
  • qualify: Actuary A life part qualified actuary with profit testing experience for a 3 month contract needed.
  • consult: Consult actuaries on CPD matters on behalf of the professional body.
  • employ: Instead they have employed actuaries to calculate the net present value of the income streams they buy with the properties.

Preposition: at

gmac: Actuary at gmac the driver's seat with your current broker tend to know.

Converse of subject

  • certify: Draw up a schedule of contributions, certified by the scheme actuary.
  • calculate: The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method.

Adjective modifier

  • part-qualified: Are you a part-qualified life actuary or a pensions student looking to transfer to life?
  • appointed: The same day Equitable's appointed actuary wrote to the prudential division setting out the company's solvency position.
  • investigating: The Investigating Actuary Pool Actuaries are appointed to 'a pool ' of Investigating Actuaries.
  • qualified: You are a a nearly Qualified Actuary to fully Qualified Actuary at... click job title for more details.. .
  • senior: Mr Farr, Watson Wyatt, is an experienced senior actuary for some of the largest pension schemes in the UK.
  • experienced: Mr Farr, Watson Wyatt, is an experienced senior actuary for some of the largest pension schemes in the UK.

Modifies a noun

magazine: An overview of the response was published in March's Actuary magazine.

Noun used with modifier

  • with-profits: Annexed to this report will be a separate report from the with-profits actuary.
  • consulting: The report by consulting actuary B&W Deloitte is expected to be published on Monday.
  • scheme: In rare cases the scheme actuary may have had the power to set contributions.
  • pension: The peer review guidance for pensions actuaries is now almost in place.

Preposition: in

insurer: FSA say that they have consulted on detailed proposals for the future role of actuaries in life insurers.

Browse dictionary entries near actuary

  1. actuarial
  2. actually
  3. actualize
  4. actuality
  5. actual sin
  6. actual cash value
  7. actual authority
  8. actual/actual
  9. actual/360
  10. actual
  1. actuate
  2. actus reus
  3. acuate
  4. Acuff
  5. acuity
  6. aculeate
  7. aculeus
  8. acumen
  9. acuminate
  10. acupressure