UIIC Invites Application for Appointed Actuary Recruitment 2022

Applications are invited for the post of “Appointed Actuary” as per IRDAI Regulation 2017.

1. Post Name: Appointed Actuary

2. Qualifications: The candidate should satisfy the requirements specified in Regulation No.3 B of IRDAI (Appointed Actuary) Regulations, 2017 as amended from time to time.

3. Eligibility Criteria as per IRDAI Appointed Actuary Regulation: B. A person shall be eligible to be appointed as an Appointed Actuary for an Insurer, if he or she is:

i. Ordinarily resident in India;

ii. A Fellow member in accordance with the Actuaries Act, 2006;

iv. A Fellow member satisfying the following requirements in case of a General Insurer or Reinsurer:

a. Passed Specialization subject in General Insurance. Currently, the specialization shall mean Specialist Application level subject as prescribed by the Institute of Actuaries of India.

b. Relevant experience of at least 7 years in General Insurance Industry out of which at least 2 years shall be post fellowship experience.

c. The applicant shall have at least 1 year post fellowship experience in Annual Statutory Valuation of a General Insurer.

vi. An employee of the Insurer;

vii. A person who has not committed any breach of professional or other misconduct;

viii. Not an Appointed Actuary of another Insurer in India;

ix. A person who possesses a Certificate of Practice issued by the Institute of Actuaries of India

C. Provisions for existing Appointed Actuaries as on date of notification of these regulations:

(i) The existing Appointed Actuaries as on date of notification of this Regulation shall stand exempted from the requirement of passing the subject specialization as per regulation 3(B)(iii), 3(B)(iv) or 3(B)(v) provided he/she satisfies the following conditions as on the date of notification of these Regulations:

b. In case of a general insurer, he/she has worked for at least 3 years as Appointed Actuary of a general insurer in India during 5 years period preceding the date of notification.

4. Duties and Obligations: As per Regulation 9 of IRDAI (Appointed Actuary) Regulations, 2017 as amended.

5. Emoluments: Negotiable. The expectation of the candidate may be indicated.

Selection Procedure

Eligible candidate would be required to appear for Personal Interview as part of the selection process.

How to Apply:

Important Dates:

Published on: 17 January 2022