One of the two professional bodies in the UK to which actuaries belong. To become an actuary it is necessary to qualify as a fellow of one or the other. The roots of the profession go back to 1756, when a Fellow of the Royal Society, James Dodson, produced the first table of premiums for life assurance, after having been turned down for an assurance policy on the grounds of his age. The Institute is in London; the other organization, the Faculty of Actuaries, is based in Edinburgh.
Subjects: Financial Institutions and Services.