Noun Actuarial Definition and Examples

Actuarial

/aktʃʊˈɛːrɪəl/

adjective

Relating to actuaries or their work of compiling and analysing statistics to calculate insurance risks and premiums.

1. 'faulty actuarial assumptions'
2. 'Each valuation shall be obtained as soon as reasonably practicable and shall be accompanied by an actuarial statement pursuant to the regulations.'
3. 'Too conservative or too aggressive actuarial assumptions can produce unreliable results.'
4. 'The last actuarial valuation on its pension fund was undertaken more than two years ago.'
5. 'It is a mistake to suppose that the actuarial figure for life expectancy will be the actual length of life for any particular individual.'
6. 'There is an inherent uncertainty in any actuarial estimates of asbestos liabilities.'

noun, plural actuaries.

1. Insurance. a person who computes premium rates, dividends, risks, etc., according to probabilities based on statistical records.

2. (formerly) a registrar or clerk.

"actuarials can firm in places."

actuary