The Institute of Institute of Actuaries of India (IAI)
The Institute of Actuaries of India (IAI) is an Apex Body established by the Government of India under ‘the Actuaries Act, 2006’ for regulating the profession of Actuaries in India. This institution comes under the Department of Financial Services, Ministry of Finance.
The activities of the Actuaries of India are managed by a Council which consists of 12 elected fellow members and 3 persons nominated by the Central Government. Earlier the name was Actuarial Society of India (ASI) which was established in September 1944. Since 1979, the ASI has been a Full Member of International Actuarial Association. In 1982, the ASI was registered under Registration of Literary, Scientific and Charitable Societies Act XXI of 1860 and 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 professional qualification of an actuary. Till then, the accreditation was based on Institute of Actuaries, London examinations now called Institute and Faculty of Actuaries.
The Head Office of the ASI is at Seawoods, Navi Mumbai.
Objects of the IAI
To promote, uphold and develop the standards of professional education, training, knowledge, practice and conduct amongst Actuaries
To promote the status of the Actuarial profession
To regulate the practice by the Members of the profession of Actuary
To promote, in the public interest, knowledge and research in all the matters relevant to Actuarial Science and its application; and
To do all such things as may be incidental or conducive to the above objects or any of them.
The IAI Actuarial Education and Research Organization (IAI-AERO) was incorporated on 5th August, 2021 under section 8 of Companies Act, 2013. The IAI is major shareholder of IAI-AERO having shareholding of 99.99%. IAI-AERO is a non-profit organization. Head office of IAI-AERO is at Seawood, Navi Mumbai.
Objectives of IAI-AERO
To educate and guide in education field by way of providing study material, books, papers, journals, periodicals, magazines, case studies, practice questions, sample exam papers in print and digital form for imparting education to the actuarial profession.
To aid in the field of education for conceiving, formulating, undertaking, conducting, to provide aid, promote and provide facilities for core, fundamental, empirical, applied and other kinds of research work and projects and studies.
INSTITUTE OF ACTUARIES OF INDIA
Unit no. F-206, 2nd Floor, "F" Wing in Tower 2, Seawoods Grand Central, Plot no R-1, Sector 40, Seawoods, Near Seawoods Railway Station, Navi Mumbai - 400 706
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