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Institute and Faculty of Actuaries

The Institute and Faculty of Actuaries (IFoA) (external site ⇒) is the UK's only chartered professional body dedicated to educating, developing and regulating actuaries based both in the UK and internationally.

In 1848, the actuaries of a number of life assurance companies established the Institute of Actuaries. While its aims included the improvement of the mathematical theories upon which life insurance is based, it was also concerned about establishing correct principles relating to subjects involving monetary considerations and probability. In 1856, the Scots in the Institute decided to form the Faculty of Actuaries in Scotland.

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