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With the opening up of the life and general insurance businesses to the private sector, the demand for actuaries is ballooning
If your forte is mathematics and/or statistics, a career as an actuary might be ideal for you. With the opening up of the life and general insurance businesses to the private sector and the entry of a large number of traditional insurance majors into the Indian market, there is rising demand for actuarial service professionals.
As per the guidelines of the IRDA, it is mandatory for life and general insurance of the Insurance Regulatory and Development Authority (IRDA), it is mandatory for life and general insurance companies to employ at least one actuary designated as ‘appointed actuary’. Moreover the services of actuaries are required by the product development, business planning, and investment departments of insurance companies. Actuaries are also employed in consultancy firms which provide retirement benefits, planning, and mergers/acquisition services.
To qualify as a professional actuary one has to join the Actuary Society of India (ASI), Mumbai as a student.