What does an Actuary do?

Actuaries provide commercial, financial and prudential advice on the management of assets and liabilities - especially where long term management and planning are critical factors. Actuaries traditionally work in finance, investment and risk management, general insurance, life insurance, pensions and social security.

Actuaries apply financial and statistical techniques to solve real business problems. These business problems typically involve analysing future financial events, especially when the amount of a future payment, or the timing of when it is paid, is uncertain. A lot of actuaries' work might be thought of as 'risk management', assessing how likely an event may be and the costs associated with it.

Why should I become an Actuary?

  • Job stability
  • Good financial rewards
  • Stimulating work

Entry Requirments

The minimum requirements, as stipulated by the Institute of Actuaries is a grade B in A-Level Mathematics (or equivalent). All firms, however, will expect at least a 2:1 degree, many specifying numerate/quantitative disciplines.

Do I need A-Level Maths? What about A-Level Further Maths?

A-Level Maths is a requirement by the Institute of Actuaries, and they stipulate a grade B or above. While no other A-Levels are required, obviously having A-Level Further Maths will put you in good stead and make your application stronger.

Should I do Actuarial Science at university?

It depends on how sure you are about becoming an actuary.

Future Trends

Employment Prospects

Very good.

Example of Employers: Insurance

  • Aviva
  • AXA
  • Fortis
  • Standard Life

Example of Employers: Consultancy

  • Deloitte
  • Ernst & Young
  • Hewitt
  • Lane Clark & Peacock
  • Mercer
  • PricewaterhouseCoopers
  • Towers Watson
  • Xafinity

Example of Employers: Other

  • FSA