IFoA Information

The Institute and Faculty of Actuaries (IFoA) is the world's leading, oldest actuarial professional body, and it is an independent royal chartered professional body. We were established in 1848 by the actuaries of a number of life assurance companies of the time, and we are the UK's only chartered professional body dedicated to educating, developing and regulating actuaries based both in the UK and internationally. Under our Royal Charter, originally granted in 1884, we have a duty to put the public interest first. The original aims of the IFoA included the improvement of the mathematical theories upon which life insurance is based. The IFoA was also concerned about establishing correct principles relating to subjects involving monetary considerations and probability. Even when the IFoA was formed it was foreseen that actuarial science would have wider applications as is seen by the main practice areas in which we function. In addition to educating, developing and regulating actuaries based both in the UK and internationally, we also seek to inform debate. As we do not represent the commercial interests of a particular sector or industry we do not have a lobbying position. We are able to provide facts, figures and comment on a wide range of topics within the pensions, insurance, health and care, and resource and environment sectors and also on demographics and mortality. Our spokespeople are working actuaries who volunteer their time to represent the expertise of the actuarial profession.