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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 ...
Elizur Wright (1804–1885), American, campaigned for valuation laws requiring life insurance companies to hold reserves to guarantee payment of benefits; Wesley S. B. Woolhouse (1809–1893), English, co-founder of the Institute of Actuaries; James Joseph Sylvester (1814–1897), English
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]
Car insurance premiums in America are through the roof — and only getting worse. ... Actuary. Actuaries earned a median salary of $120,000 in 2023, and the BLS projects demand for these ...
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]
In the retirement plan industry, Milliman provided services in actuarial consulting, consulting on compensation and care, retirement outsourcing, and others. [1] [2] During the 1950s, Milliman & Robertson established the first health insurance benchmarking tool for the US healthcare market.
The insurance industry in America is easily one of the biggest. After all, the US is one of the only […] Click to skip ahead and jump to the 5 Largest Insurance Companies in the US by Assets.
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]