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Institute of Actuaries of India

Approved By:
UGC
Accreditated To:
N/A
Entrance Accepted
Location
Establishment
Mumbai 1944

About:

IAI is a statutory body established under The Actuaries Act 2006 (35 of 2006) for the regulation of the profession of Actuaries in India. The provisions of the said Act have come into force from the 10thday of November 2006, in terms of the notification dated 8th November 2006, issued by the Government of India in the Ministry of Finance, Department of Economic Affairs. As a consequence of this, the erstwhile Actuarial Society of India was dissolved and all the Assets and Liabilities of the Actuarial Society of India were transferred to and vested in, the Institute of Actuaries of India constituted under Section 3 of the Actuaries Act, 2006. The erstwhile Actuarial Society of India (ASI) was established in September 1944. Since 1979 the ASI has been a Full Member of International Actuarial Association (an umbrella organization to all actuarial bodies across the world) and is actively involved in its affairs. In 1982, the ASI was registered under Registration of Literary, Scientific and Charitable Societies Act XXI of 1860 and also under the Bombay Public Charitable Trust Act, 1950. In 1989, the ASI started examinations up to Associate level, and in 1991, started conducting Fellowship level examination leading to the professional qualification of an actuary, till then the accreditation was based on the Institute of Actuaries, London examinations (now Institute and Faculty of Actuaries).

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