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An actuary is a business professional with advanced statistical skills who deals with the measurement and management of risk and uncertainty. The name of the corresponding field is actuarial science. 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.
Harald Cramér was a Swedish mathematician, actuary, and statistician, specializing in mathematical statistics and probabilistic number theory. John Kingman described him as "one of the giants of statistical theory".
The Casualty Actuarial Society (CAS) is a professional society of actuaries specializing in property and casualty insurance.
Thomas Nall Eden Greville was an American mathematician, specializing in statistical analysis, particularly as it concerned the experimental investigation of psi.
The following outline is provided as an overview of and topical guide to actuarial science:
Gheorghe Mihoc was a Romanian mathematician and statistician.
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.
James C. Hickman was an American actuary. He was internationally publicized for his work in actuarial education as well as being a major contribution in the development of the actuarial profession. He was a professor emeritus of business and statistics and former dean of the University of Wisconsin–Madison School of Business.
Johan Frederik Steffensen was a Danish mathematician, statistician, and actuary who did research in the fields of calculus of finite differences and interpolation. He was professor of actuarial science at the University of Copenhagen from 1923 to 1943. Steffensen's inequality and Steffensen's method are named after him. He was an Invited Speaker at the 1912 International Congress of Mathematicians (ICM) in Cambridge, England and at the 1924 ICM in Toronto.
... His more important works included the theory of statistics (1923), interpolation (1925), insurance mathematics (1934) and the calculation of interest (1936). ... He was President of the Danish Actuarial Society in 1922-24 and 1930-33, and of the Danish Mathematical Society in 1930-36 ...
Cecil James Nesbitt, Ph.D., F.S.A., M.A.A.A. was a mathematician who was a Ph.D. student of Richard Brauer and wrote many influential papers in the early history of modular representation theory. He taught actuarial mathematics at the University of Michigan from 1938 to 1980. Nesbitt was born in Ontario, Canada. He received his mathematical education at the University of Toronto and the Institute for Advanced Study in Princeton. He served the Society of Actuaries from 1985 to 1987 as Vice-President for Research and Studies. He developed the Schuette–Nesbitt formula with Donald R. Schuette.
In actuarial science and applied probability, ruin theory uses mathematical models to describe an insurer's vulnerability to insolvency/ruin. In such models key quantities of interest are the probability of ruin, distribution of surplus immediately prior to ruin and deficit at time of ruin.
Philip Booth is a British economist. He is Dean of the Faculty of Education, Humanities and Social Sciences at St Mary's University, Twickenham, and Senior Academic Fellow at the Institute of Economic Affairs. His primary areas of research and writing are social insurance, financial regulation and Catholic social teaching.
In actuarial science, the Esscher transform (Gerber & Shiu 1994) is a transform that takes a probability density f(x) and transforms it to a new probability density f(x; h) with a parameter h. It was introduced by F. Esscher in 1932 (Esscher 1932).
Henry Lewis Rietz was an American mathematician, actuarial scientist, and statistician, who was a leader in the development of statistical theory. He became the first president of the Institute of Mathematical Statistics.
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.
James Waterman Glover was an American mathematician, statistician, and actuary.
Patrick L. Brockett is an endowed Chaired Professor within the Information, Risk and Operations Management, Finance, and Mathematics departments at The University of Texas at Austin. He is the Director of the Risk Management and Insurance Program, Director for the Center of Risk Management and Insurance, and Director for the Minor/Certificate in Risk Management Program. He is also an Affiliated Faculty Member in the University of Texas- Austin Division of Statistics & Scientific Computation. He is known for his research in statistics, probability, actuarial science, quantitative methods in business and social sciences, and risk and insurance. The American Risk and Insurance Association (ARIA) endowed and named a research award in his honor: The Patrick Brockett & Arnold Shapiro Actuarial Research Award, awarded to the actuarial journal article that makes the best contribution of interest to ARIA risk management and insurance researchers.
Robert Henderson was a Canadian-American mathematician and actuary.
Mary Rosalyn Hardy is a professor of actuarial science at the University of Waterloo (Canada). She pioneered, together with Julia Wirch, the development and application of the conditional tail expectation (CTE).