General insurance

Actuarial involvement in general insurance has grown significantly in recent years. Nowadays, general insurance actuaries might help insurance companies estimate the reserves they require for future claims as well as identify the other management information they need. Actuaries will also work on rating insurance products in areas such as motor and household insurance where large volumes of data exist. In other fields, they will advise building societies on the capital requirements for their own insurance companies, and advise reinsurance companies on their rates for 'excess of loss reinsurance'.

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