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.infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><table class="infobox"><caption class="infobox-title" style="font-size: 125%;">Institute of Actuaries of India</caption><tbody><tr><td colspan="2" class="infobox-image"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:Institute_of_Actuaries_of_India(IAI).png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/97/Institute_of_Actuaries_of_India%28IAI%29.png/220px-Institute_of_Actuaries_of_India%28IAI%29.png" decoding="async" width="220" height="34" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/97/Institute_of_Actuaries_of_India%28IAI%29.png/330px-Institute_of_Actuaries_of_India%28IAI%29.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/97/Institute_of_Actuaries_of_India%28IAI%29.png/440px-Institute_of_Actuaries_of_India%28IAI%29.png 2x" data-file-width="481" data-file-height="74" /></a></span></td></tr><tr><th colspan="2" class="infobox-header" style="background-color: #efefef">Agency overview</th></tr><tr><th scope="row" class="infobox-label">Type</th><td class="infobox-data category"><a href="/wiki/Statute" title="Statute">National Apex Body</a></td></tr><tr><th scope="row" class="infobox-label">Jurisdiction</th><td class="infobox-data"><a href="/wiki/Ministry_of_Finance_(India)" title="Ministry of Finance (India)">Ministry of Finance</a>, <a href="/wiki/Government_of_India" title="Government of India">Government of India</a></td></tr><tr><th scope="row" class="infobox-label">Headquarters</th><td class="infobox-data"><a href="/wiki/Navi_Mumbai,_Maharashtra" class="mw-redirect" title="Navi Mumbai, Maharashtra">Navi Mumbai, Maharashtra</a></td></tr><tr><th scope="row" class="infobox-label">Website</th><td class="infobox-data"><span class="url"><a rel="nofollow" class="external text" href="https://www.actuariesindia.org">www<wbr />.actuariesindia<wbr />.org</a></span></td></tr></tbody></table> <p>The <b>Institute of Actuaries of India</b> is the sole <a href="/wiki/Statute" title="Statute">national apex body</a> for <a href="/wiki/Actuary" title="Actuary">actuaries</a> in India. It was formed in September 1944 by the conversion of the Actuarial Society of India into a body corporate by virtue of the Actuaries Act, 2006. It is under the <a href="/wiki/Jurisdiction" title="Jurisdiction">ownership</a> of <a href="/wiki/Ministry_of_Finance_(India)" title="Ministry of Finance (India)">Ministry of Finance</a>, <a href="/wiki/Government_of_India" title="Government of India">Government of India</a>. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Registration_of_the_IAI">Registration of the IAI</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Institute_of_Actuaries_of_India&action=edit&section=1" title="Edit section: Registration of the IAI"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1979, it was admitted to the International Actuarial Association as a member. </p><p>On 14 December 1982, it was formally registered under Registration of Literary, Scientific and Charitable Societies Act XXI of 1960. A certificate of registration of the ASI under section XII AA of Income Tax Act was received on 14 March 1984. IAI is also registered under Public Charitable Trust Act 1950 </p> <div class="mw-heading mw-heading2"><h2 id="Educational_and_ethical_goals">Educational and ethical goals</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Institute_of_Actuaries_of_India&action=edit&section=2" title="Edit section: Educational and ethical goals"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>To prepare "actuaries of tomorrow" who are adequately qualified and competent in the global context.</li> <li>To keep the level of competence on a continuing basis for fully qualified Actuaries at a high in the global context through CPD (Continuing Professional Development) and other programs.</li> <li>To serve the cause of public interest through Professional Code of Conduct and Disciplinary Procedures.</li></ul> <div class="mw-heading mw-heading3"><h3 id="Objectives">Objectives</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Institute_of_Actuaries_of_India&action=edit&section=3" title="Edit section: Objectives"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Advancement of the actuarial profession in India.</li> <li>Providing opportunities for interaction among members of the profession.</li> <li>Facilitating research, arranging lectures on relevant subjects.</li> <li>Providing facilities and guidance to those studying for the Actuarial exams.</li></ul> <div class="mw-heading mw-heading2"><h2 id="Placement">Placement</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Institute_of_Actuaries_of_India&action=edit&section=4" title="Edit section: Placement"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Till 2002, multinational reinsurers setting up service offices in India imported actuaries due to severe shortage of skills domestically.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> By 2005, an Indian actuary with at least 7 years of post-qualification experience was paid about US$40,000 in annual salary. The package rises to US$60,000 for an appointed actuary. </p><p>IAI is a statutory body established under The Actuaries Act 2006 (35 of 2006) for regulation of profession of Actuaries in India. The provisions of the said Act have come into force from 10thday of November 2006, in terms of the notification dated 8 November 2006, issued by the <a href="/w/index.php?title=Government_of_India_in_the_Ministry_of_Finance&action=edit&redlink=1" class="new" title="Government of India in the Ministry of Finance (page does not exist)">Government of India in the Ministry of Finance</a>, Department of Economic Affairs. As a consequence of this, the erstwhile Actuarial Society of India was dissolved and all the Assets and Liabilities of the Actuarial Society of India were transferred to, and vested in, the Institute of Actuaries of India constituted under Section 3 of the Actuaries Act, 2006. </p><p>The erstwhile Actuarial Society of India (ASI) was established in September 1944. Since 1979, the ASI has been a Full Member of International Actuarial Association (an umbrella organizations to all actuarial bodies across the world) and is actively involved in its affairs. In 1982, the ASI was registered under Registration of Literary, Scientific and Charitable Societies Act XXI of 1860 and also under Bombay Public Charitable Trust Act, 1950. In 1989, the ASI started examinations up to Associate level, and in 1991, started conducting Fellowship level examination leading to professional qualification of an actuary, till then the accreditation was based on Institute of Actuaries, London examinations (now Institute and Faculty of Actuaries.). </p><p>The IAI has grown as well with around 9,182 student members joining the society. The current president of IAI is Mr. <a href="/wiki/R._Arunachalam" title="R. Arunachalam">R Arunachalam</a>. </p> <div class="mw-heading mw-heading2"><h2 id="Actuarial_organizations">Actuarial organizations</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Institute_of_Actuaries_of_India&action=edit&section=5" title="Edit section: Actuarial organizations"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Actuaries usually belong to one or more professional bodies, often national in scope. A list may be found here: <a href="/wiki/Category:Actuarial_associations" title="Category:Actuarial associations">Category:Actuarial associations</a> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Institute_of_Actuaries_of_India&action=edit&section=6" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Actuary" title="Actuary">Actuary</a></li> <li><a href="/wiki/Actuarial_present_value" title="Actuarial present value">Actuarial present value</a></li> <li><a href="/wiki/Actuarial_science" title="Actuarial science">Actuarial science</a></li> <li><a href="/wiki/Actuarial_notation" title="Actuarial notation">Actuarial notation</a></li> <li><a href="/wiki/Catastrophe_modeling" title="Catastrophe modeling">Catastrophe modeling</a></li> <li><a href="/wiki/Risk_theory" class="mw-redirect" title="Risk theory">Risk theory</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Institute_of_Actuaries_of_India&action=edit&section=7" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.rediff.com/money/2005/jul/02actuary.htm">"Rs 30 lakh salary? Be an actuary"</a>. <i>Rediff.com</i>. 2 July 2005<span class="reference-accessdate">. Retrieved <span class="nowrap">8 November</span> 2010</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Rediff.com&rft.atitle=Rs+30+lakh+salary%3F+Be+an+actuary&rft.date=2005-07-02&rft_id=http%3A%2F%2Fwww.rediff.com%2Fmoney%2F2005%2Fjul%2F02actuary.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInstitute+of+Actuaries+of+India" class="Z3988"></span></span> </li> </ol></div></div> <p><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.actuariesindia.org/">"Actuarial Society of India now called as Institute of Actuaries of India"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">3 April</span> 2006</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Actuarial+Society+of+India+now+called+as+Institute+of+Actuaries+of+India&rft_id=http%3A%2F%2Fwww.actuariesindia.org%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInstitute+of+Actuaries+of+India" class="Z3988"></span> </p> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Institute_of_Actuaries_of_India&action=edit&section=8" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="http://www.actuariesindia.org/Faq/faq.html">FAQs on Actuary</a></li> <li><a rel="nofollow" class="external text" href="http://www.actuariesindia.org">Institute of Actuaries of India</a></li> <li><a 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style="font-size:114%;margin:0 4em">Professional Regulators in India</div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Academics</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/National_Council_for_Teacher_Education" title="National Council for Teacher Education">National Council for Teacher Education</a> (<a href="/wiki/Teacher" title="Teacher">Teachers</a>)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Architecture and<br />Planning</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Council_of_Architecture" title="Council of Architecture">Council of Architecture</a> (<a href="/wiki/Architect" title="Architect">Architects</a>)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Banking,<br 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