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Updated: June 17, 2025
But how, it may be asked, could the company's actuary know that the man's house would last until he had paid in more than its insured value in premiums more, that is to say, than the company would have to pay back? He could not, but from his statistics he could know how many houses in ten thousand of that kind burned in their first year, how many in their second, their third, and so on.
Nelson, a distinguished actuary of England, employed as an expert by life insurance companies, found after investigating over 7,000 cases, none of which were drunkards, that between the ages of 15 and 20 the proportion of deaths in total abstainers to those in moderate drinkers is as 10 to 18; between the ages of 25 and 30, as 10 to 31; between 30 and 40 as 10 is to 40.
"Lucky rascal!" said Brough, poking me in the side and going out of the way. And lucky, in faith, I thought I was. I don't know how it was that in the course of the next six months Mr. Roundhand, the actuary, who had been such a profound admirer of Mr.
There is no actuary in existence who can calculate how much of the wealth, of the Strength, of the supremacy of the territorial families of England has been derived from an unholy participation in the fruits of the industry of the people, which have been wrested from them by every device of taxation, and squandered in every conceivable crime of which a Government could possibly be guilty.
The various genteel employments at Court being held by dwarfs, sir, it will be necessary to alter, in some respects, the present regulations. Finlayson, the government actuary, will be placed to the credit of the National Debt. All this, sir, will be the death of the constitution. But this is not all. The constitution dies hard, perhaps; but there is enough disease impending, Mr.
Of course I must be careful of one predicament. I have studied the regulations about being admitted to the English Bar. They are very quaint and medieval or early Georgian. You mayn't be a Chartered Accountant or Actuary the Lord alone knows why! I suppose some Lord Chancellor was done in the eye in Elizabeth's reign by an actuary and laid down that law. Equally you mayn't be a clergyman.
Wright's insurance reports brought him such celebrity that all the companies wished to have his name connected with them. His son, Walter C. Wright, became actuary of the New England Life, and his daughter, Miss Jane Wright, was made actuary of the Mutual Union Company. Mr.
Great calamities cannot be foreseen. No actuary has yet appeared to forecast the acts of Providence, but on the whole our fire insurance companies are well managed and prosperous. We have insurance against storms, against the breaking of plate glass and even against loss from burglars, but the best known of the minor insurance societies are those known as "accident companies."
Smith was one of our first managers, but after attending two or three times he left us, saying it was 'childish work. My answer was, 'It is with children we have to do. A short time after, I met him, and in the course of conversation I observed that I sometimes got down in the mouth, and did not know whether we were doing any good, and felt disposed to give up the bank; on which he warmly replied, 'For God's sake, you must not let such an idea get into your head; you little know the good you are doing; we have not a man about our place but either himself or some members of his family are depositors." The actuary adds, "If Colonel Akroyd ever despairs, I give him the above answer."
If the actuary of an insurance office infers from his tables that among a hundred persons now living of a particular age, five on the average will attain the age of seventy, his inference is legitimate, not for the simple reason that this is the proportion who have lived till seventy in times past, but because the fact of their having so lived shows that this is the proportion existing, at that place and time, between the causes which prolong life to the age of seventy and those tending to bring it to an earlier close.
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