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IAI in talks with FinMin to set up actuary dept - The Hindu BusinessLine

IAI in talks with FinMin to set up actuary dept - The Hindu BusinessLine
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

South africaUnited kingdomFasal bima yojanaSubhendu kumar balAyushman bharatActuary departmentInstitute of actuaries indiaDepartment of financial servicesFinancial servicesFinance ministrySubhendu kumarஒன்றுபட்டது கிஂக்டம்பசல் பீமா யோஜனாசுபேண்டு குமார் பால்ஆயுஷ்மான் பாரத்செயல் துறை

Only 458 insurance actuaries in India, need at least 1,200: IRDA Chief

Only 458 insurance actuaries in India, need at least 1,200: IRDA Chief Actuaries play a big role in pricing the products in such a way that it provides protection to public at large and takes care of solvency of the insurance company Aprajita Sharma March 10, 2021 | Updated 16:09 IST The number of full-fledged insurance actuaries in India grew by just 19 in 2020 compared to the last year. There are only 458 actuaries compared to 439 in 2019, says IRDA Chief Subhash C. Khuntia as he sheds light on the growing requirement of them not just in the insurance industry but also in banking and other financial fields. At present we only have 458 full-fledged actuaries, 165 associates and 7,500 student members. These figures need to go up considering the number of insurance companies and the size of insurance business, which is 1.7 per cent of the global industry, says Khuntia.

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Need to quickly ramp up actuary professionals base: IRDAI Chief

March 10, 2021 Subash Chandra Khuntia, Chairman, IRDAI× Insurance firms should champion adoption of IFRS17 and actuaries should play a role here: Subash Chandra Khuntia India should aspire to have atleast 1,000-1,200 actuaries as quickly as possible given the huge requirement of such professionals in the country, IRDAI Chairman Subash Chandra Khuntia said on Wednesday. “This is the minimum we should target because the present number of 458 is not adequate for a large country like India. Also, the addition in the number of actuaries between 2019 and 2020 is only 19, which is too small”, he said at a virtual Actuarial Conclave 2021 organised by the Institute of Actuaries of India (IAI).

Subash chandra khuntiaSubhendu kumar balLife insurance companyInstitute of actuaries indiaInternational accounting standard boardActuarial conclaveChief executive officerKumar balChief actuaryChief risk officerInsurance company limitedAccounting standards boardசுபாஷ் சந்திரா குந்டியசுபேண்டு குமார் பால்வாழ்க்கை காப்பீடு நிறுவனம்நிறுவனம் ஆஃப் செயல்பாடுகள் இந்தியா

Only 458 insurance actuaries in India, need at least 2,000: IRDA Chief

Only 458 insurance actuaries in India, need at least 2,000: IRDA Chief
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Subhashc khuntiaSubhendu kumar balGovernment actuary departmentInternational financial reporting standardLife insurance companyInstitute of actuaries indiaVirtual actuarial conclaveKumar balChief actuaryChief risk officerசுபேண்டு குமார் பால்அரசு செயல் துறைசர்வதேச நிதி புகாரளித்தல் தரநிலைவாழ்க்கை காப்பீடு நிறுவனம்நிறுவனம் ஆஃப் செயல்பாடுகள் இந்தியாமெய்நிகர் இயல்பான மாநாடு