What does an actuary do what is an actuary

1, actuaries belong to a class of mathematical professionals, he is now an important position in the insurance industry. It is mainly engaged in the calculation of insurance premiums, claim reserves, dividends, insurance amount, pension, annuity and so on. An actuary will use knowledge of math, statistics, and economics to deal with some of the unknowns in an insurance company. To become an actuary, one has to go through a rigorous examination. There are very few people in the actuary category in our country and there is a huge talent gap.

2. Actuaries are mathematical professionals employed by insurance companies and are mainly engaged in the calculation of insurance premiums, claim reserves, dividends, insurance amounts, pensions, annuities and so on. The basis of their calculation comes from the claims reference table and accounting standards, and the operating conditions of the insurance company. And this form is based on the experience of our company and peer claims and relevant statistics.

3. Examination Setting: On July 16, 1999, the China Insurance Regulatory Commission (CIRC) issued Announcement No. 9 announcing the holding of China's first actuarial qualification examination. Candidates applying for the examination are: prospective actuaries who have completed the 100 series of course exams of the Actuarial Society of North America or the A-D series of course exams of the British Actuarial Examinations prior to 1996, and who have a certain amount of experience in the actuarial practice of insurance. There were 60 eligible candidates, most of whom were engaged in actuarial practice in insurance companies (Chinese, foreign, and Sino-foreign joint ventures) in China, while the rest were mainly engaged in actuarial education in institutions or worked in social security departments. *** Forty-three people passed the exam and were issued the China Actuary Certificate by CIRC. This was an actuarial qualification examination for existing insurance actuarial practitioners, marking the beginning of the actuarial qualification system in China and the birth of the actuarial profession in China.

4. Here, it should be emphasized that those who have obtained the actuarial examination certificate are still required to go through a special application and be examined and approved before they can practice in commercial insurance institutions in the name of actuaries. In order to promote the development of the actuarial profession system, after more than five years of planning, preparation, I will be December 15, 2000 -17, for the first time for the community to organize the China Actuarial Qualification Examination quasi-actuarial examination in the six courses of the examination, **** there are 474 people enrolled.