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The Society of Actuaries in Ireland is the professional body of Irish actuaries. The Society was founded on 3 May 1972 by seventeen members of the Institute and the Faculty of Actuaries residing in Ireland. Since then, the membership has grown to more than 2,100. The current president of the Society is Bríd Quigley.
The Society is a full member of the International Actuarial Association and the Actuarial Association of Europe.
The Society of Actuaries in Ireland offers five types of membership:
The Society does not hold its own examinations and its members gain fellowship through the examinations organised by the Institute and the Faculty of Actuaries. As of 2023, the Society has more than 2,100 members, with more than 1,400 of them fully qualified.
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An actuary is a professional with advanced mathematical skills who deals with the measurement and management of risk and uncertainty. The name of the corresponding field is actuarial science which covers rigorous mathematical calculations such as the survival function and stochastic process. These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills. Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms.
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. More generally, actuaries apply rigorous mathematics to model matters of uncertainty and life expectancy.
The International Actuarial Association (IAA) is a worldwide association of local professional actuarial associations.
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. It is a full member organization of the International Actuarial Association.
The Casualty Actuarial Society (CAS) is a professional society of actuaries in North America specializing in property and casualty insurance.
The Institute of Actuaries was one of the two professional bodies which represented actuaries in the United Kingdom. The institute was based in England, while the other body, the Faculty of Actuaries, was based in Scotland. While the Institute and Faculty of Actuaries were separate institutions, they worked very closely together, and their professional qualifications and actuarial standards were identical. On 25 May 2010, voting members of the institute who took part in a ballot voted to merge the institute with the faculty, thus creating the Institute and Faculty of Actuaries, which came into being on 1 August 2010. The Institute of Actuaries ceased to exist on that date.
The Actuarial Association of Europe (AAE) was established in 1978 as Groupe Consultatif des Associations d'Actuaires des Pays des Communautés Européennes (GC), renamed to Groupe Consultatif Actuariel Européen in 2002, and given its present name on January 1, 2014.
The Canadian Institute of Actuaries (CIA) is the national organization of the actuarial profession in Canada. It was incorporated March 18, 1965. The FCIA designation stands for Fellow of the Canadian Institute of Actuaries. As the national organization of the Canadian actuarial profession, the CIA serves the public through the provision by the profession of actuarial services and advice by: representing the Canadian actuarial profession in the formulation of public policy; promoting the advancement of actuarial science; educating and qualifying CIA members; ensuring that actuarial services provided by its members meet accepted professional standards; and assisting actuaries in Canada in the discharge of their professional responsibilities.
The Faculty of Actuaries in Scotland was the professional body representing actuaries in Scotland. The Faculty of Actuaries was one of two actuarial bodies in the UK, the other was the Institute of Actuaries, which was a separate body in England, Wales and Northern Ireland. While the Faculty of Actuaries and the Institute of Actuaries were separate institutions, they worked very closely together, and the professional qualifications and professional standards for actuaries were identical in each of them. On 25 May 2010, voting members of the Faculty who took part in a ballot voted to merge the Faculty with the Institute of Actuaries, thus creating the Institute and Faculty of Actuaries which came into being on 1 August 2010, superseding the Institute of Actuaries which ceased to exist on that date.
The American Academy of Actuaries, also known as the Academy, is the body that represents and unites United States actuaries in all practice areas. Established in 1965, the Academy serves as the profession's voice on public policy and professionalism issues.
The Institute of Actuaries of India is the sole national apex body for actuaries in India. It was formed in September 1944 by the conversion of the Actuarial Society of India into a body corporate by virtue of the Actuaries Act, 2006. It is under the ownership of Ministry of Finance, Government of India.
The American Society of Pension Professionals & Actuaries (ASPPA) is a national organization for career retirement plan professionals. The membership consists of the many disciplines supporting retirement income management and benefits policy. ASPPA represents those who have made a career of retirement plan and pension policy work.
The Czech Society of Actuaries is the association of actuaries in Czechia. It aims to promote education and research in actuarial science and to mediate social and professional contacts among actuaries.
The Conference of Consulting Actuaries (CCA) is a professional society of actuaries engaged in consulting in the United States and Canada, as opposed to those employed by insurance companies. CCA members assist their clients with respect to pension, health, and other employee benefit plans; life insurance; and property and casualty insurance.
The International Association of Black Actuaries (IABA) is a tax-exempt, nonprofit professional organization that represents black actuarial professionals and students around the world. Its members include Fellows, Associates and students of the Society of Actuaries, the Casualty Actuarial Society, the Institute and Faculty of Actuaries, and Enrolled Actuaries originating from the United States, Canada, Caribbean and African nations.
The Institute and Faculty of Actuaries is the professional body which represents and regulates actuaries in the United Kingdom.
The actuarial credentialing and exam process usually requires passing a rigorous series of professional examinations, most often taking several years in total, before one can become recognized as a credentialed actuary. In some countries, such as Denmark, most study takes place in a university setting. In others, such as the U.S., most study takes place during employment through a series of examinations. In the UK, and countries based on its process, there is a hybrid university-exam structure.
Professor Richard Verrall is Vice-President of City, University of London. He took up this post in 2011 and was previously Head of the Department of Actuarial Science, then Associate Dean of Cass Business School, City, University of London. Professor Verrall joined City, University of London, as a lecturer in 1987.
Sir Alfred William Watson KCB FIA was a British actuary and civil servant. In 1917 he became Britain's first government actuary and was very influential in setting up the funding by National Insurance for the newly introduced state pension.
Dorothy Beatrice Spiers was a British actuary. She was the first woman to qualify as an actuary in the United Kingdom. After studying mathematics at Newnham College, Cambridge, she worked for the Guardian Assurance Company. She passed the actuarial exams at the Institute of Actuaries in 1923.