Recent Examples of actuary from the Web
Greene said the idea for the product came from an actuary at Cuna Mutual who was concerned about income volatility and lack of savings.
Kennedy, a resident of Park Ridge since 2004, is an actuary with Ernst and Young and also applied for a vacancy in the city's 5th Ward earlier this year.
Actuaries at Oliver Wyman estimate that two-thirds of next year’s proposed premium increases are due to uncertainty over whether the Trump administration will make the cost-sharing payments and enforce the individual mandate.
Financial analysts have said this, insurance actuaries have said it, even the federal government has said it.
But the actuary wasn’t content to just look at his own firm’s records.
The county's annual contribution for its existing pension liabilities will increase from nearly $65.8 million this year to $72.2 million in 2018, according to the report of county actuaries at Wednesday's Pension Board meeting.
James Lynch, chief actuary with the trade group Insurance Information Institute, accuses the ProPublica authors of flawed methodology.
KRS’ own actuary did a similar analysis for the years 2008-14.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'actuary.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Financial Definition of ACTUARY
What It Is
An actuary is a person who evaluates the likelihood of certain events and creates plans to deal with those events.
How It Works
Actuaries must understand business, have good analytical skills, and be aware of how human behavior affects risk. In the insurance business, for example, actuaries use an issuer's costs to calculate premiums for policyholders. They also make estimates of damage after big events, such as hurricanes or earthquakes. Additionally, they may use medical records, geological information, or other data to predict things such as how long a customer will live or where the next big earthquake will occur. Comfort with statistics is key.
Actuarial work typically requires a bachelor's degree, and actuaries must also pass a series of exams to earn a professional designation through the Casualty Actuarial Society or the Society of Actuaries. It can take six to 10 years to pass all the tests. In 2010, the median pay for actuaries was $87,650 per year.
Why It Matters
Because actuaries manage risk, many work in the insurance industry, but many also work in private industry, as consultants, at accounting firms, in banks and in other organizations.
ACTUARY Defined for English Language Learners
Definition of actuary for English Language Learners
: a person whose job is to tell insurance companies how much they should charge people for insurance based on risks
legal Definition of actuary
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