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Appointed Actuary
(redirected from Appointed Actuaries)

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Appointed Actuary
An actuary employed by an insurance company to ensure compliance with all required reserve statutes. In the United States, insurance companies are required to have a certain percentage of their assets set aside to pay claims should the need arise. The NAIC requires insurance companies to employ appointed actuaries to make certain they are able to pay unexpected liabilities.
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It added that appointed actuaries who have the final say on bonus rates should be barred from holding senior positions on insurance firms' boards, in order to avoid possible conflicts of interest.
Tougher steps over savings by The Birmingham Post (England)
As part of this process, the Committee obtained reports from an independent actuary and the appointed actuaries of GWL&A and GWL.
Great-West Life Announces Corporate Reorganization by PR Newswire
The FSA also plans to review corporate governance, looking at issues such as whether appointed actuaries should have responsibility to the shareholders or not, and a requirement to subject actuaries to external reviews.
e-business: Insurance regulation re-think put to Treasury by The Birmingham Post (England)
 
 
 
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