An actuary is a person who is employed by insurance companies to calculate how much they should charge their clients for insurance.
actuary in British English
(ˈæktʃʊərɪ)
nounWord forms: plural-aries
a person qualified to calculate commercial risks and probabilities involving uncertain future events, esp in such contexts as life assurance
Derived forms
actuarial (ˌæktʃʊˈɛərɪəl)
adjective
actuarially (ˌæktʃʊˈɛərɪəlɪ)
adjective
Word origin
C16: (meaning: registrar): from Latin āctuārius one who keeps accounts, from actum public business, and acta documents, deeds. See act, -ary
actuary in American English
(ˈæktʃuˌɛri)
nounWord forms: pluralˈactuˌaries
a person whose work is to calculate statistically risks, premiums, life expectancies, etc. for insurance
Word origin
L actuarius, clerk < actus: see act1
actuary in Insurance
(æktʃuɛri)
Word forms: (plural) actuaries
noun
(Insurance: Life insurance)
An actuary is a mathematician who uses statistics to calculate premiums, dividends, or pension, insurance and annuity rates for an insurance company.
An actuary makes calculations to decide the amount that needs to be contributed into the planto ensure the target retirement income goal is reached.
Actuaries assemble and analyze data to estimate the probability and likely cost of the occurrenceof an event such as death, sickness, injury, disability, or loss of property.
An actuary is a mathematician who uses statistics to calculate premiums, dividends, or pension,insurance and annuity rates for an insurance company.
appointed actuary
Examples of 'actuary' in a sentence
actuary
I am considering my career options, one of which is to train to become an actuary.
Times, Sunday Times (2006)
Initially, he specialised in maths, aiming to become an actuary.
Times, Sunday Times (2006)
Just give one of us an airplane and pilot's license, and then ask an actuary what the insurance risk is.
Siegel, Bernie S. (MD) Love, Medicine and Miracles (1990)