Morgan was born 26 May 1750 at Bridgend, Glamorgan, the third of the eight children of a physician of Bridgend. He died 4 May 1833 at Stamford Hill, Middlesex. At the age of eighteen he went to London to study medicine, and entered St Thomas's hospital as one of the ‘pupils and dressers’ in 1770. He briefly worked in the family practice, but returned to London after his father's death in 1772. Through the influence of his uncle, Dr Richard price, Morgan became assistant actuary to the Equitable Assurance Society in 1774, and chief actuary in 1775, a post held until his resignation in 1830.
From The Biographical Dictionary of British Economists in Oxford Reference.