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The Actuary The magazine of the Institute & Faculty of Actuaries

Expansion in India

Liberalisation of the insurance sector has brought about the revival of the actuarial profession in India, and the number of aspiring actuaries in the country has risen tenfold since 2000, when the government of India opened up the sector.

In 2000, just 471 students had registered with the Actuarial Society of India and this has now gone up to 4,980 students, as at August 2005. Given the capability to generate a large number of qualified professionals, global search companies have set up establishments in India to recruit actuaries for the international market.

At present, there are only 207 fellows of the Actuarial Society of India. Of these, only 112 are below the age of 60. There are still several actuaries above the age of 60 who continue to practise as consultants. In addition, of the 207 members, 75 have moved overseas. (Source: The Economic Times)