actuary


ac·tu·ary

noun \ˈak-chə-ˌwer-ē, -shə-, -ˌwe-rē-\

: a person whose job is to tell insurance companies how much they should charge people for insurance based on risks

plural ac·tu·ar·ies

Full Definition of ACTUARY

1
obsolete :  clerk, registrar
2
:  a person who calculates insurance and annuity premiums, reserves, and dividends

Origin of ACTUARY

Latin actuarius shorthand writer, alteration of actarius, from actum record — more at act
First Known Use: 1553

Other Economics Terms

compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

Rhymes with ACTUARY

adversary, airy-fairy, ancillary, antiquary, apiary, arbitrary, aviary, axillary, bacillary, beriberi, bestiary, biliary, black raspberry, Bloody Mary, boysenberry, breviary, budgetary, calamari, calamary, candleberry, Canterbury, capillary, carpellary, cassowary, catenary, cautionary, cavitary, cemetery, centenary, certiorari, checkerberry, chinaberry, cometary, commentary, commissary, condottiere, coralberry, corollary, coronary, culinary, customary, dictionary, dietary, dignitary, dromedary, dysentery, elderberry, emissary, estuary, farkleberry, February, formulary, fragmentary, fritillary, functionary, funerary, honorary, huckleberry, intermarry, janissary, January, lamasery, lapidary, lectionary, legendary, legionary, lingonberry, literary, loganberry, luminary, mammillary, mandatary, maxillary, medullary, mercenary, miliary, military, millenary, milliary, millinery, missionary, momentary, monastery, mortuary, necessary, ordinary, ossuary, partridgeberry, pensionary, pigmentary, planetary, Pondicherry, prebendary, presbytery, pulmonary, quaternary, red mulberry, reliquary, rowanberry, salivary, salmonberry, salutary, sanctuary, sanguinary, sanitary, secondary, secretary, sedentary, seminary, silverberry, solitary, sour cherry, stationary, stationery, statuary, subcontrary, sublunary, sugarberry, sumptuary, syllabary, temporary, tertiary, thimbleberry, Tipperary, Tom and Jerry, topiary, tributary, tutelary, Typhoid Mary, unitary, urinary, vestiary, Virgin Mary, visionary, voluntary, vulnerary, Waterbury, whortleberry, winterberry

actuary

noun    (Concise Encyclopedia)

One who calculates insurance risks and premiums. Actuaries compute the probability of the occurrence of such events as birth, marriage, illness, accidents, and death. They also evaluate the hazards of property damage or loss and the legal liability for the safety and well-being of others. Usually employed by insurance companies, actuaries set premium rates based on statistical studies, establish underwriting procedures, and determine the amounts of money required to assure the payment of benefits.

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