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Edward Rowe Mores (1731–1778), English, founder of The Society for Equitable Assurances on Lives and Survivorships and the first person to use the professional title "actuary" William Morgan (1750–1833), Welsh; George Barrett (1752–1821), English; Nathaniel Bowditch (1773–1838), probably the second American insurance actuary; Essex Fire ...
Companies portal Actuarial firms provide actuarial, statistical, risk-management, and related services to insurance companies, and other large institutions with a need to carefully calibrate risk. For more information, see Actuarial Science .
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
American Academy of Actuaries: Associate of the Conference of Consulting Actuaries: ACA: Conference of Consulting Actuaries Fellow of the Conference of Consulting Actuaries: FCA: Conference of Consulting Actuaries Enrolled Actuary: EAc: Joint Board for the Enrollment of Actuaries
For this reason, actuaries are essential to the insurance and reinsurance industries, either as staff employees or as consultants; to other businesses, including sponsors of pension plans; and to government agencies such as the Government Actuary's Department in the United Kingdom or the Social Security Administration in the United States of ...
Many other life insurance companies and pension funds were created over the following 200 years. Equitable Life was the first to use the word "actuary" for its chief executive officer in 1762. [22] Previously, "actuary" meant an official who recorded the decisions, or "acts", of ecclesiastical courts. [19]
The Casualty Actuarial Society (CAS) is a leading international professional society of actuaries, based in North America, and specializing in property and casualty insurance. [3] The two levels of CAS membership are Associate (ACAS) and Fellow (FCAS). Requirements for these levels of membership include a comprehensive series of exams. [4]
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]