Record number of actuaries qualify

Dr Trevor Watkins, the Actuarial Profession's Head of Learning welcomed the news as a sign that the profession was buoyant. He said:

"I'm delighted to welcome these new members to the profession and it's clear that despite the recession, it is a good time to be an actuary. Solvency II a new EU wide directive concerning insurance regulation will have a huge impact on our sector as more and more actuaries are required to implement the directive and ensure regulatory compliance. And, as we come to terms with the challenges of an ageing society, the unique role of actuaries in predicting the financial implications of this becomes ever more vital."

The pass list also saw 53 students who were not student members of the Profession passing the Financial Mathematics exam. The students took the course as part of a scheme set up by the Profession to allow people considering a career as an actuary to test the water before committing themselves to the rigorous training and examination process all actuarial students have to undergo.

Trevor Watkins said:

"The course was an important part of our response to Unleashing Aspirations, Alan Milburn's recent investigation into social mobility. Offering this course demonstrates the Profession's commitment to increasing accessibility."

Colin Dobbie, one of the students who successfully passed the Financial Mathematics exam said:

"The course was a cost effective way to sample the exams and was an opportunity to show potential employers that I was capable of passing them."

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Enquiries: Tel. Michael Scanlan on 020 7632 1453 or email michael.scanlan@actuaries.org.uk

Notes to Editors

1. Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.
2. Members of the Profession have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyds.
3. The Profession is governed jointly by the Faculty of Actuaries in Edinburgh and the Institute of Actuaries in London. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of the Profession in society.
4. The Profession is available to provide expert comment to the media on a range of actuarial-related issues, including enterprise risk management, finance and investment, general insurance, health and care, life assurance, mortality, and pensions.