Our History: How actuaries have turned risk into opportunity

Have you ever wondered how actuaries became the leading risk experts? Learn more about the events that have made the profession what it is today by checking out the dates below and visiting the interactive timeline of the profession on ImageoftheActuary.org.

Compiled by North American actuarial organizations, these dates and the interactive timeline celebrate specific milestones from the actuarial profession and highlight the connection between the significant business and societal impacts made by actuaries and the ways that actuaries have shaped business, political and societal trends throughout time.

• 1693

  Mathematician Edmund Halley-after whom Halley's Comet is named- devised the first mortality table, forming the basis for the actuarial profession.
  Modern Landmarks in Actuarial Science, Inaugural Professional Address by David C. M. Dickson

• 1889

  The formal founding of the actuarial profession in North America began with the creation of the continent's first professional organization, the Actuarial Society of America.
  Fundamental Concepts of Actuarial Science by Charles L. Trowbridge

• 1909

  The American Institute of Actuaries was founded.
  The First 50 Years: Society of Actuaries, 1949-1999

• 1935

  Social Security was introduced in the United States, leading to new opportunities for actuaries in
  the federal government.
  Our Yesterdays: the History of the Actuarial Profession in North America,
  1809-1979, by E.J. Moorhead

• 1949

  The Society of Actuaries was formed through a merger of the Actuarial Society of America and the American Institute of Actuaries.
  The First 50 Years: Society of Actuaries, 1949-1999

• 1988

  Actuary was named "The Best Job in America" by the Jobs Rated Almanac, based on work environment, income, physical demand and career outlook.
  Some Thoughts on the Actuary of the Future by R.B. Akhurst

• 1995

  Computer models replaced traditional methods of estimating costs in catastrophe lines and helped actuaries develop advanced modeling techniques.
  The Actuarial Review, February 1996

• 2002

  The Sarbanes-Oxley Act put greater responsibility on a company's board of directors to manage all of an organization's risks, pushing Enterprise Risk Management (ERM) to emerge as a critical issue. Actuaries assumed the role of strategic risk managers in instituting what was essentially a cultural change in a company's operations.
  "Actuaries assume new roles in Age of Enterprise Risk Management"
  Dec. 8, 2006, www.insurancejournal.com

• 2006

  The actuarial profession launched a revitalized brand with the new tagline, "Risk is Opportunity."
  The Society of Actuaries

• 2007

  The Seattle Times featured an article, "Actuaries Are Financial Wizards," discussing the broadening roles actuaries were playing and how opportunities were increasing for actuaries in financial services.
  The Actuary, June/July 2007

• 2008

  Changes in the actuarial profession offer more choices and opportunities for young actuaries. Trailblazer, an article from The Actuary Magazine, Nov. 1, 2008, by Lindsay Tomlinson
  The Actuary, June/July 2007