Actuary Definition

ăkcho͝o-ĕrē
actuaries
noun
actuaries
A person whose work is to calculate statistically risks, premiums, life expectancies, etc. for insurance.
Webster's New World
One who computes insurance and property costs, such as the cost of insurance premiums and risks.
Webster's New World Law

(dated, 16th-19th century) Registrar, clerk.

Wiktionary
Synonyms:
statisticianinterinsurance
other
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.
Webster's New World Finance

Other Word Forms of Actuary

Noun

Singular:
actuary
Plural:
actuaries

Origin of Actuary

  • Latin āctuārius secretary of accounts from ācta records from neuter pl. past participle of agere to drive, do ag- in Indo-European roots

    From American Heritage Dictionary of the English Language, 5th Edition

  • From Latin actuarius (“copyist, account-keeper”), from actus (“public business”); see actuarius.

    From Wiktionary

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