According to the Institute of Actuaries of India (IAI), the demand for actuaries in India is growing rapidly, and the supply is limited. As per the IAI latest data (as on 31st March 2023), there are around 569 fellows and 231 associates in India. However, the requirement for actuaries is much higher, and the gap is expected to widen in the future.

Actuaries are experts in assessing the financial impact of uncertain events of future times. They use data science and data anlytics techniques and build financial models to project future risks and uncertainties based on the assumptions on historical trends and future projections. In short, Actuaries make financial sense of the future.

The actuarial job market in India is limited yet expanding, presenting a range of rewarding opportunities. Actuaries (qualified or pursuing) work in various roles and sectors, such as:

• Insurance (Life, Health and General)
• Pension Funds
• Risk Management
• Investment and Finance
• Employee Benefits
• Consulting Firms
• Government Agencies
• Data Analytics and Business Intelligence

It is often seen that students are confused about which field a company offers a job in. To clear this confusion, a list of all the companies, along with its headquarters, is given below and is segregated according to the field they offer jobs in:

Life Insurance:

• Life Insurance Corporation of India. – Mumbai
• HDFC Life Insurance Co. Ltd. – Mumbai
• Max Life Insurance Co. Ltd. – New Delhi
• ICICI Prudential Life Insurance Co. Ltd. – Mumbai
• Kotak Mahindra Life Insurance Co. Ltd. – Mumbai
• Aditya Birla SunLife Insurance Co. Ltd. – Mumbai
• TATA AIA Life Insurance Co. Ltd. – Mumbai
• SBI Life Insurance Co. Ltd. – Mumbai
• Exide Life Insurance Co. Ltd. – Bengaluru
• Bajaj Allianz Life Insurance Co. Ltd. – Pune
• PNB MetLife India Insurance Co. Ltd. – Mumbai
• Reliance Nippon Life Insurance Co. Ltd. – Mumbai
• Aviva Life Insurance Co. India Ltd. – Gurugram
• Sahara India Life Insurance Co. Ltd. – Lucknow
• Shriram Life Insurance Co. Ltd. – Hyderabad
• Bharti AXA Life Insurance Co. Ltd. – Mumbai
• Future Generali India Life Insurance Co. Ltd. – Mumbai
• Ageas Federal Life Insurance Co. Ltd. – Mumbai
• Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd. – Gurugram
• Aegon Life Insurance Co. Ltd. – Mumbai
• Pramerica Life Insurance Co. Ltd. – Gurugram
• Star Union Dai-Ichi Life Insurance Co. Ltd. – Navi Mumbai
• IndiaFirst Life Insurance Co. Ltd. – Mumbai
• Edelweiss Tokio Life Insurance Co. Ltd. – Mumbai
• Willis Towers Watson Public Ltd. Co. – New Delhi
• Milliman. – New Delhi

General Insurance:

• Acko General insurance. – Mumbai
• Agricultural Insurance Co. of India. – New Delhi
• HDFC ERGO Health Insurance (formerly known as Apollo Munich Health Insurance). – Mumbai
• Bajaj Allianz General Insurance. – Pune
• Bharti AXA General Insurance Co. Ltd. – Mumbai
• Cholamandalam MS General Insurance Co. Ltd. – Chennai
• Manipal Cigna Health Insurance Co. Ltd. – Mumbai
• DHFL General Insurance. – Mumbai
• Export Credit Guarantee Corporation of India Ltd. – Mumbai
• Edelweiss General Insurance. – Mumbai
• Future Generali India Insurance Co. Ltd. – Mumbai
• Go Digit General Insurance. – Pune
• HDFC ERGO General Insurance Co. Ltd. – Mumbai
• ICICI Lombard General Insurance Co. Ltd. – Mumbai
• IFFCO Tokio General Insurance Co. Ltd. – Gurugram
• Liberty General Insurance Co. Ltd. – Mumbai
• Magma HDI General Insurance Co. Ltd. – Mumbai
• Max Bupa Health Insurance Co. Ltd. – New Delhi
• National Insurance Co. Ltd. – Kolkata
• The New India Assurance Co. Ltd. – Mumbai
• The Oriental Insurance Co. Ltd. – New Delhi
• Raheja QBE General Insurance Co. Ltd. – Mumbai
• Reliance General Insurance Co. Ltd. – Mumbai
• Religare Health Insurance Co. Ltd. – Gurugram
• Royal Sundaram Alliance Insurance Co. Ltd. – Chennai
• SBI General Insurance Co. Ltd. – Mumbai
• Shriram General Insurance Co. Ltd. – Jaipur
• Star Health & Allied Insurance Co. Ltd. – Chennai
• Tata AIG General Insurance Co. Ltd. – Mumbai
• United India Insurance Co. Ltd. – Chennai
• Universal Sompo General Insurance Co. Ltd. – Mumbai
• Kotak Mahindra General Insurance Co. Ltd. – Mumbai
• Aditya Birla Health Insurance Co. Ltd. – Mumbai
• Navi General Insurance Co. Ltd. – Bengaluru
• Willis Towers Watson Public Ltd. Co. – New Delhi
• Klynveld Peat Marwick Goerdeler (KPMG). – Mumbai

Consulting:

• Willis Towers Watson Public Ltd. Co. – New Delhi
• Aon Hewitt. – Gurugram
• Milliman India Pvt. Ltd. – New delhi
• Ernst & Young (EY) Global Ltd. – Mumbai
• PriceWaterhouseCoopers (PWC) – Gurugram
• Deloitte Touche Tohmatsu Ltd. – Mumbai
• Klynveld Peat Marwick Goerdeler (KPMG). – Mumbai
• Accenture Public Ltd. Co. – Mumbai
• Mercer. – Gurugram
• Oliver Wyman. – New Delhi
• Marsh McLennan Companies Inc. – Mumbai
• WNS Global Services. – mumbai
• Principal Global Services. – Pune
• Numerica Actuarial Consulting LLP. – New Delhi
• Munich Re Group. – Mumbai
• MetLife Global Operations Support Center Pvt. Ltd. – New Delhi
• Acies Consulting LLP. – Mumbai

Risk management:

• Swiss Reinsurance Co. Ltd. – Bengaluru
• Chubb Ltd. – Bengaluru
• AXA XL. – Gurugram
• Armour Corporate Services. – Mumbai
• Willis Towers Watson Public Ltd. Co. – New Delhi
• Ernst & Young (EY) Global Ltd. – Mumbai
• Xceedance. – Gurugram
• HDFC ERGO. – Mumbai

Pensions:

• EXL Service Holdings Inc. – New Delhi
• Marsh McLennan. – Mumbai
• Crescendo Global. – Mumbai
• Future Track Edutech Pvt. Ltd. – New Delhi
• Credo Consulting Ltd. – New delhi
• Ascensus. – New delhi
• Aon Hewitt. – Gurugram
• Mercer. – Gurugram

Reinsurance:

• Swiss Re Co. Ltd. – Bengaluru
• Munich Re Group. – Mumbai