Definition of actuary in English:

actuary

noun

  • A person who compiles and analyses statistics and uses them to calculate insurance risks and premiums.

    • ‘To compute the costs of health and life insurance, actuaries take into account many factors known to predict disease and death.’
    • ‘The result was that actuaries said pension funds had more money than they needed.’
    • ‘In determining the actuarial surplus in a pension fund, actuaries make key assumptions.’
    • ‘A responsible actuary and pension fund trustees would never have allowed this to happen.’
    • ‘Each year a report is produced by the trustees of your pension scheme and every three years there is a valuation by actuaries, who analyse financial risk.’
    • ‘The assured is then paid the surrender value of the policy, which is calculated by an actuary on the basis of the amounts paid to date.’
    • ‘We also provide modeling support to the actuaries working on customized insurance products for insurers or large corporations.’
    • ‘Life expectancy is a term used by actuaries, people who calculate statistics and probability for insurance use.’
    • ‘As well as teaching at the University of Copenhagen, he was the chief actuary for an insurance company.’
    • ‘No two actuaries would ever calculate the same transfer value, which is why you need someone to ensure you are not losing out.’
    • ‘But it's a rule of thumb that has been bandied about by actuaries and financial advisers for a long time and, if you do the sums, as a general idea, it works.’
    • ‘Without his job as an insurance actuary the 66-year-old Schmidt has no identity.’
    • ‘I am a pension actuary with 27 years' experience working with traditional defined-benefit pension plans.’
    • ‘He was an actuary in the Skandia Insurance Company from 1904 to 1907.’
    • ‘Nicholson questioned insurance actuaries about their profession.’
    • ‘In a city teeming with bankers, actuaries, brokers and insurance men, the manner in which you invest your savings is a subject of endless fascination.’
    • ‘The company said that its actuaries calculate their subscription rates on the likely claims made in the year, and on the overall climate of litigation within that speciality.’
    • ‘Hubbard believes in training managers to measure risk the way actuaries do.’
    • ‘With a retirement income fund, actuaries would calculate how much must stay in the fund to ensure the pensioner would never need to fall back on the state.’
    • ‘What do actuaries at life insurance companies have to tell us?’

Origin

Mid 16th century (originally denoting a clerk or registrar of a court): from Latin actuarius bookkeeper, from actus (see act). The current sense dates from the mid 19th century.

Pronunciation:

actuary

/ˈaktʃʊ(ə)ri/