The Institute of Actuaries of Australia has a heritage which dates back to 1897. In that year, the Actuarial Society of New South Wales was formed. The inaugural meeting of seventeen members took place in Sydney on 19 October 1897. Prior to this date, a handful of actuaries had been involved in helping establish and manage several important financial institutions in the colonies of New South Wales and Victoria.

Initially, actuaries served the public interest by helping to ensure the soundness of life insurance offices and friendly societies and acting as arbiters of equity in life company bonus distributions. Actuarial fields of activity broadened following World War II to include superannuation, investment and, from the 1970s, general insurance.

By 1919, actuaries resident in other States and New Zealand had joined the Actuarial Society of New South Wales and the name was changed to the Actuarial Society of Australasia.

The Society published its first bulletin in 1945 and the first of the now biennial conventions was held in 1953.

Further name changes occurred up to 1963 when The Institute of Actuaries of Australia and New Zealand was incorporated. When New Zealand actuaries formed their own society in 1977, the name changed to The Institute of Actuaries of Australia.

The Institute was instrumental in the introduction of actuarial education at Macquarie University in 1968 (prior to this, Australian actuaries had to pass UK final examinations in order to qualify). The introduction of Australian Fellowship examinations in 1980 marked a new maturity for the profession in this country.

As part of the worldwide actuarial profession, the Institute maintains regular contact with overseas actuarial associations.

Click here to view Past Presidents

Life membership is awarded for a long record of distinguished service to the profession. It recognises service to the Institute more than scientific or personal achievements and is awarded only rarely.

Click here to view Life Members

The Medals are presented for a long record of outstanding actuarial work in the service of the profession, business, government or community, which brought identifiable credit to the profession. These medals recognise service that enhances the image of the profession, not internal work within the Institute.

The Silver Medal is awarded on rare occasions only.

Click here to view Silver Medallists

The Gold Medal is awarded even more rarely, for achievements at the highest international level.

Click here to view Medallists

This award is presented to an individual who has brought credit to the profession and made a key contribution to business, the community, government or the profession.

It is expected that a particular recent contribution can be identified in making this award, although an ongoing contribution may be considered relevant.

There should be public awareness of the individual and, in making the award, preference will be given to a person who will bring favourable publicity to the profession.

Click here to view Actuary of the Year

The Practitioner’s Award recognises actuarial work and problem solving in areas where there are no precedents.

Click here to view Practitioner’s Award