There is no single global credential. Each country qualifies its actuaries in its own way. This is a map of how people become actuaries in the regions that have a member association of the IAA, the organization that brings together more than seventy actuarial societies worldwide.
In just over two minutes: the Mexican route of degree, professional license, CONAC certification and CNSF accreditation, compared with the exam-based models of the SOA, the CAS, the IFoA and national associations.
Running time 2:13. Narrated in Spanish with English subtitles.
The International Actuarial Association (IAA) is the worldwide organization of more than 70 Full Member Associations from every region of the world, setting minimum standards for education (the syllabus) and professional conduct (its code and the ISAP standards). There is no single global credential: each jurisdiction qualifies its actuaries through its own exams or those of another recognized association, although several bodies have signed Mutual Recognition Agreements that make it easier for a Fellow qualified in one country to be admitted in another, subject to additional local requirements.
How the professional actuarial designation is earned in each country: exams, associations, and Associate and Fellow levels.
| Region | Country | Association | How to become an actuary |
|---|---|---|---|
| North America | United States | SOA / CAS | Candidates pass professional exams set by the society for their specialty: the Society of Actuaries (SOA) for life, health and pensions, and the Casualty Actuarial Society (CAS) for property and casualty insurance. Together with VEE credits, modules and a professionalism course, candidates first earn the Associate designation (ASA or ACAS) and then Fellowship (FSA or FCAS). |
| North America | Canada | CIA / ICA | The Canadian Institute of Actuaries (CIA/ICA) recognizes SOA or CAS exams and requires additional Canadian components (the PEC course or Exam 6 Canada, plus supervised practice) to award the FCIA Fellowship designation, which is required to sign actuarial opinions in Canada. |
| North America | Mexico | CONAC / AMA | Candidates complete the Licenciatura en Actuaría (bachelor's degree in actuarial science) at a recognized university (UNAM, ITAM and Anáhuac, among others) and obtain their degree and cédula profesional (federal professional license). Regulated functions before the CNSF (National Insurance and Surety Commission) require the professional certification issued by CONAC (Colegio Nacional de Actuarios), and many actuaries also join the AMA (Asociación Mexicana de Actuarios). |
| Latin America | Brazil | IBA | A recognized undergraduate degree in Ciências Atuariais (actuarial science) is required, together with registration as a member of the Instituto Brasileiro de Atuária (IBA), which grants the MIBA number. The IBA administers its own accreditation exams for professional practice before SUSEP and PREVIC. |
| Latin America | Argentina | CPCECABA | Candidates complete the Licenciatura en Actuaría (for example at the Universidad de Buenos Aires) and, to practice, register with the Consejo Profesional de Ciencias Económicas (CPCECABA or another provincial council), which authorizes them to sign actuarial work. |
| Latin America | Colombia | ACA | There is no single actuarial degree, so the usual route combines training in mathematics, statistics or engineering with specialized graduate studies and membership in the Asociación Colombiana de Actuarios (ACA); many supplement this with SOA or IFoA exams. |
| Continental Europe | Germany | DAV | The Deutsche Aktuarvereinigung (DAV) trains actuaries through its own exams in foundation and specialist knowledge, built on a university background in mathematics; after completing them and documenting practical experience, candidates earn the protected title Aktuar DAV. |
| Continental Europe | France | Institut des Actuaires | Qualification is achieved by graduating from a university program accredited by the Institut des Actuaires (recognized master's programs and schools) and defending an actuarial thesis (mémoire); this leads to full membership, first as an associate actuary and then as a full member. |
| Continental Europe | Spain | IAE | Candidates complete a university master's degree in actuarial and financial science, which gives access to the profession, and apply for admission to the Instituto de Actuarios Españoles (IAE), the professional body that confers the status of actuario colegiado (registered actuary). |
| Continental Europe | Switzerland | SAV | The Schweizerische Aktuarvereinigung (SAV/ASA) requires an academic background in mathematics or economics plus exams and modules of the Swiss program, together with professional practice, to award the title Aktuar SAV (Actuaire ASA). |
| Continental Europe | Netherlands | AG | The Koninklijk Actuarieel Genootschap (AG) trains actuaries through its Actuarieel Instituut or accredited university programs; on completing the postgraduate program and practical experience, candidates earn the AAG designation (qualified actuary). |
| Continental Europe | Italy | ONA / ISOA | After a bachelor's and master's degree in actuarial science, candidates pass the state examination (esame di Stato) and register with the Ordine Nazionale degli Attuari (ONA), a requirement to practice as a licensed attuario. |
| Continental Europe | Denmark | DDA | In Denmark the main route is academic: candidates complete a university master's degree in actuarial mathematics (forsikringsmatematik) and join Den Danske Aktuarforening (DDA); the title of responsible actuary in insurance also requires documented experience. |
| United Kingdom and Ireland | United Kingdom | IFoA | The Institute and Faculty of Actuaries (IFoA) sets modular exams (Core Principles, Core Practices, Specialist Principles and Specialist Advanced) plus supervised work experience; candidates first become Associates (AIA) and then Fellows (FIA). |
| United Kingdom and Ireland | Ireland | Society of Actuaries in Ireland | The Society of Actuaries in Ireland (SAI) qualifies actuaries mainly through the exams of the British IFoA and grants local membership; after completing the exams and experience requirements, members earn the FSAI Fellowship designation. |
| Africa | South Africa | ASSA | The Actuarial Society of South Africa (ASSA) combines its own exams on local topics with IFoA technical exams recognized under agreement; on completing the Fellowship and the application stage, members earn the FASSA designation. |
| Africa | Kenya | TASK | The Actuarial Society of Kenya (TASK) is the professional association, but technical qualification is normally achieved by passing IFoA or SOA exams; TASK brings together and regulates actuaries already qualified in the country. |
| Africa | Nigeria | NAS | The Nigerian Actuarial Society (NAS) brings the profession together, while the technical credential is obtained mainly through IFoA or SOA/CAS exams, complemented by local membership in order to practice. |
| Asia | India | IAI | The Institute of Actuaries of India (IAI) administers its own exam series (Core, Specialist and Fellowship) aligned with international standards; candidates first become Associates (AIAI) and then Fellows (FIAI) after meeting the experience requirement. |
| Asia | China | CAA | The China Association of Actuaries (CAA) administers its own two-level exams leading to the Associate and Fellow designations (China Associate and China Fellow), built on a quantitative university background. |
| Asia | Japan | IAJ | The Institute of Actuaries of Japan (IAJ) requires candidates to pass its exams in two stages (basic subjects, then a specialty in life, non-life or pensions) plus a professionalism course to become a Fellow of the IAJ. |
| Asia | South Korea | IAK | The Institute of Actuaries of Korea (IAK) administers national actuarial exams (including the official insurance actuary license) in stages, leading to the Fellow designation recognized for signing regulated work. |
| Asia | Singapore | SAS | The Singapore Actuarial Society (SAS) does not run a full exam program of its own: qualification is obtained through the exams of the SOA, the CAS, the IFoA or the Actuaries Institute of Australia, after which candidates apply for local membership. |
| Asia | Hong Kong | ASHK | The Actuarial Society of Hong Kong (ASHK) recognizes the credentials of associations such as the SOA, IFoA, CAS or the Actuaries Institute; actuaries qualify through those exams and join the ASHK to practice locally. |
| Asia | Taiwan | ASROC / IANM | In Taiwan the profession is organized around the Actuarial Institute of the Republic of China (ASROC); qualification combines the institute's own exams with local regulatory requirements for work in life and non-life insurance. |
| Asia | Malaysia | ASM | The Actuarial Society of Malaysia (ASM) brings the profession together, but the technical credential is typically earned by passing SOA, CAS or IFoA exams; candidates then apply for membership for local recognition. |
| Oceania | Australia | Actuaries Institute | The Actuaries Institute delivers its program in three parts (Foundation, Actuary and Fellowship) plus a professionalism course and work experience; candidates first become Associates (AIAA) and then Fellows (FIAA). |
| Oceania | New Zealand | NZSA | The New Zealand Society of Actuaries (NZSA) does not offer a full exam program of its own: actuaries qualify through the Actuaries Institute of Australia or the IFoA and then join the NZSA, which adds local practice requirements. |
| Middle East | Israel | ILAA | The Israel Association of Actuaries (ILAA) combines its own exams on local legislation and practice with recognition of international exams (IFoA or SOA), granting full actuary status for the Israeli market. |
| Middle East | United Arab Emirates | Emirates Actuarial Society | The Emirates Actuarial Society brings the profession together in the Gulf, but technical qualification is obtained through the exams of established associations such as the SOA, the CAS or the IFoA; local membership provides regional recognition. |