History of Actuarial Profession

Hickman, James C.

doi:10.1002/9780470012505.tah012

Cited by 5 publications

(4 citation statements)

References 7 publications

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“…After different descriptions of actuary is examined by the related associations and organizations, the link between financial economics, actuarial profession and insurance is analyzed with reference to the previous papers. Hickman (2006) describes the history of the profession as follows: The actuarial profession commenced from life branch and private pension plans (insurance). Then, its improvement continued in line with the accounting profession.…”

Section: Literature Reviewmentioning

confidence: 99%

Aktüerya Mesleğinin Sigortacılık Sektörü Özelinde Genel Değerlendirmesi: Türkiye Örneği

Kayhan

2022

International Journal of Entrepreneurship and Management Inquiries

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Aktüerlik, matematiksel ve istatistiksel becerilerin uygulanması yoluyla işletmeler için riskin finansal etkisini analiz etmekle ilgili nitelikli bir meslektir. Aktüerler finansal belirsizliği öngörür ve en aza indirir. Aktüerya, bir olayın olasılığını ve finansal sonuçlarını değerlendirmek için istatistiksel teknikler ve matematiksel beceriler kullanan bir kişiye verilen profesyonel unvandır. Bu makalenin amacı, finans sektörü ve özellikle sigorta sektörü özelinde aktüerlik mesleğini tanıtmaktır. Bu mesleğe ilişkin literatür oldukça azdır, ancak yükselen bir ekonomi olarak Türkiye'de artan ekonomik faaliyet ve ticaret göz önüne alındığında bu meslek daha önemli ve gerekli hale gelmektedir. Günümüz iş dünyasında risk yelpazesinin gelişmesi nedeniyle, artan ticari faaliyete paralel olarak finansal riskler de artmaktadır. Bu çalışma, hayat sigortası ve bireysel emeklilik işkolunun 2000 yılından bu yana artan aktif büyüklüğü ve sigortalı sayısı ile önemli ölçüde geliştiği Türkiye'deki aktüerya uygulamasını kapsamaktadır.

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Section: Literature Reviewmentioning

confidence: 99%

Aktüerya Mesleğinin Sigortacılık Sektörü Özelinde Genel Değerlendirmesi: Türkiye Örneği

Kayhan

2022

International Journal of Entrepreneurship and Management Inquiries

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“…There is nothing in Brazil resembling History of actuarial profession, by James Hickman (2004), which offers an overview of the history of the actuarial profession from the mid-19 th century to the end of the 20 th century, focusing on England and its ex-colonies. The author underlines the importance of 1762 to the history of the actuarial profession, as this was when the Society for Equitable Assurances on Lives and Survivorships was formed.…”

Section: Historiographical Reviewmentioning

confidence: 99%

“…The author underlines the importance of 1762 to the history of the actuarial profession, as this was when the Society for Equitable Assurances on Lives and Survivorships was formed. This London-based society provided actuaries with what Hickman (2004) considers fundamental to any profession: a public purpose. In the specific case of the actuarial profession, that was human life assurance.…”

Section: Historiographical Reviewmentioning

confidence: 99%

The actuarial profession and social security in Brazil from the First Republic up to the Vargas Era

Martins

2020

Rev. contab. finanç.

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The aim of this paper was to understand the relationships between the consolidation of the actuarial profession and social security policies in Brazil, from the First Republic up to the Vargas Era. In general, there is little literature on the history of the actuarial profession in Brazil. Specifically, there is no study that addresses the relationship between the development of the actuarial profession and the social security policies at the crucial moment of Brazilian social security expansion during the Vargas Era. This paper contributes to filling that gap. From time to time, Brazilian social security reforms are debated. The role of actuaries in this discussion is poorly understood. However, these professionals have historically been essential to social security policies. This article sheds light on that history. The text may broaden the knowledge on the history of the actuarial profession and its relationships with social security policies in Brazil. This is a historical study, built based on primary documentation. Sources were researched relating to the actuarial organizations for social security in Brazil and the actuarial professionals who composed their staff. The references to the professional trajectories of actuaries were crossed and considered in light of the information gathered regarding the actions of the institutions that employed them. The analysis was qualitative and the material was interpreted with the support of the referenced bibliography. This article reveals that the consolidation of the actuarial profession came about based on the participation of engineers-actuaries in the public organizations that supported the varguista social security policies. The paper also contributes to broadening the knowledge on the history of the actuarial profession in Brazil from the First Republic up to the Vargas Era (1930-1945).

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“…The NAIC Property and Casualty reporting requirements require that the insurer disclose the appointed actuary. The Appointed Actuary is responsible for ensuring that all benefits provided by insurance contracts have adequate reserves (Hickman, 2006). In the United States, the appointed actuary, whether internal or external, is selected by the insurer and is required to give an estimation of loss reserves at the end of each year, considering both the adequacy of the assets as well as the adequacy of the reserves.…”

mentioning

confidence: 99%

The impact of monitor choice on insurer loss reserves

Bisco

McCullough

Yufa

et al. 2023

Risk Manage Insurance Review

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This paper examines the association between monitoring and earnings management by property‐casualty insurers. Prior literature has evaluated the impact of auditors and actuaries on insurer reserving. We extend this work by considering the nonrandom nature of monitor assignment. We model the insurer decisions regarding choice of auditor and actuary jointly using a Heckman selection model. Consistent with prior literature, we account for potential loss reserving incentives that may confound these decisions. We find that the use of internal actuaries is significantly related to higher reserve errors, but this is reduced, but not fully offset, when the internal actuary is an officer of the insurer. We find lower reserve error for auditors from a Big N firm. However, the use of an auditor and actuary from the same Big N firm is significantly related to higher reserve errors.

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History of Actuarial Profession

Cited by 5 publications

References 7 publications

Aktüerya Mesleğinin Sigortacılık Sektörü Özelinde Genel Değerlendirmesi: Türkiye Örneği

Aktüerya Mesleğinin Sigortacılık Sektörü Özelinde Genel Değerlendirmesi: Türkiye Örneği

The actuarial profession and social security in Brazil from the First Republic up to the Vargas Era

The impact of monitor choice on insurer loss reserves

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