Institute of Actuaries

What Does Institute of Actuaries Mean?

The Institute of Actuaries was a professional organization established in 1848 and based in England. Its role was to formally represent actuaries in the United Kingdom.

Insuranceopedia Explains Institute of Actuaries

The Institute of Actuaries standardized professional behavior and held the right to discipline members who did not abide by its standards and code of conduct.

Until it merged with Scotland's Faculty of Actuaries in 2010, the Institute was the oldest actuarial professional body in the world. As of August 1st, 2010, the two bodies have become the Institute and Faculty of Actuaries.