Solvency II-fueled demand has increased the number of actuaries working at Lloyd’s managing general agents by nearly 50% since 2007, a survey reported by Insurance Post showed.
The 2010 survey, by the Lloyd’s Market Association, showed 382 actuaries, vs. 256 three years ago. The agents forecast another 10% growth in actuarial hiring in the next year.
Just under half the actuaries, 179, were qualified (i.e., fellows). The rest were students or tech types.
A further breakdown (yeah, I know it doesn’t add up):
- 119 in reserving
- 88 in pricing
- 72 in capital modeling
For the U.S., I think we’ll see the same job growth a few years down the road when the NAIC gears up its version of Solvency II, the Solvency Modernization Initiative.