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Appointed Actuary

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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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Keith Nicholson, former head of KPMG's financial services practice, will be named deputy chairman while David Rutter, the society's former appointed actuary and later finance director, stays on as vice-chairman.
He was appointed actuary in 1995 and was responsible for the profitability, pricing, valuation and financial reporting of life, disability and dental products.
The appointed actuary typically has insights into key judgments, assumptions and risk factors associated with the company's recorded loss reserves.
 
 
 
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