Definition of actuary in US English:

actuary

nounPlural actuaries

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

    • ‘Nicholson questioned insurance actuaries about their profession.’
    • ‘He was an actuary in the Skandia Insurance Company from 1904 to 1907.’
    • ‘As well as teaching at the University of Copenhagen, he was the chief actuary for an insurance company.’
    • ‘In determining the actuarial surplus in a pension fund, actuaries make key assumptions.’
    • ‘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.’
    • ‘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.’
    • ‘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.’
    • ‘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.’
    • ‘What do actuaries at life insurance companies have to tell us?’
    • ‘Without his job as an insurance actuary the 66-year-old Schmidt has no identity.’
    • ‘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.’
    • ‘To compute the costs of health and life insurance, actuaries take into account many factors known to predict disease and death.’
    • ‘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 result was that actuaries said pension funds had more money than they needed.’
    • ‘I am a pension actuary with 27 years' experience working with traditional defined-benefit pension plans.’
    • ‘Hubbard believes in training managers to measure risk the way actuaries do.’
    • ‘No two actuaries would ever calculate the same transfer value, which is why you need someone to ensure you are not losing out.’
    • ‘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.’

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

/ˈak(t)SHəˌwerē//ˈæk(t)ʃəˌwɛri/