Abstract
Actuary is a qualified profession related with analyzing financial influence of risk for businesses via application of mathematical and statistical skills. Actuaries foresee and minimize financial uncertainty. Actuary is the professional title given to a person who employs statistical techniques and mathematical skills to evaluate the probability and financial consequences of an event. The aim of this paper is to introduce the profession of actuary with particular reference to finance industry and –in particular- insurance industry. Literature on this profession is rather scarce, but this profession is becoming more attractive and necessary given the growing economic activity and business in Turkey as an emerging economy. Financial risks increase in line with the inclining business activity due to the fact that the spectrum of risks develops in today’s business. This study covers the application of actuary in Turkey where life-insurance and private pension line of business have improved significantly since 2000 with growing asset under management and number of the insured.
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