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Who employs actuaries?

What types of organizations employ actuaries, and who are these companies? Here's the breakdown of the active membership of the Casualty Actuarial Society and the Society of Actuaries.

Percentage of Members by Type of Employer

Casualty Actuarial Society

Property/Casualty Insurance 43%
Consultants 16%
Other 13%
Reinsurance 10%
Retired 6%
Organizations Serving the Insurance Industry 6%
Brokers & Agents 2%
Government 2%
Life & Accident, Health 2%
Academic <1%

Source: Casualty Actuarial Society, December 2012

Society of Actuaries

Insurance companies 48%
Consulting firms 33%
Retired 7%
Miscellaneous/Unaffiliated/Unknown 2%
State insurance departments and other government offices 2%
Investment houses and banks 2%
University and college educators 1%
Software developers/vendors < 1%
Organizations serving the insurance industry < 1%
Insurance brokerages < 1%

Source: Society of Actuaries, April 2013

Top Employers of Actuaries
(by number of actuaries employed

Casualty Actuaries

Company or organization No. employed % of CAS membership
The Travelers Companies, Inc. 207 4.0
Liberty Mutual Group 177 3.5
Towers Watson 133 2.6
Milliman, Inc. 109 2.1
The Hartford 93 1.8
CNA Insurance Companies 90 1.8
Zurich North America 80 1.6
Allstate Insurance Company 73 1.4
Nationwide Insurance Company 66 1.3
ISO 63 1.2
PricewaterhouseCoopers 58 1.1

Source: Casualty Actuarial Society, December 2012

Life, Health, and Pension Actuaries

Company or organization No. employed % of SOA membership
Towers Watson 1423 5.94
Mercer 836 3.49
Aon Hewitt 806 3.37
Milliman 562 2.35
Manulife 452 1.89
Prudential 428 1.79
Metlife 405 1.69
SunLife 380 1.59
ING 252 1.05
RGA 228 .95

Source: Society of Actuaries, April 2013