• We are pleased to announce that the winner of our Feedback Prize Draw for the Winter 2024-25 session and winning £150 of gift vouchers is Zhao Liang Tay. Congratulations to Zhao Liang. If you fancy winning £150 worth of gift vouchers (from a major UK store) for the Summer 2025 exam sitting for just a few minutes of your time throughout the session, please see our website at https://www.acted.co.uk/further-info.html?pat=feedback#feedback-prize for more information on how you can make sure your name is included in the draw at the end of the session.
  • Please be advised that the SP1, SP5 and SP7 X1 deadline is the 14th July and not the 17th June as first stated. Please accept out apologies for any confusion caused.

Would big banks and other companies that offer insurance employ alot of actuaries?

D

DevonMatthews

Member
Like i see many major banks offer Life, Home, Motor insurance. Would they write these policies themselvs, or would they simply act as a broker of some sort, leaving the technical matters to an insurance company?
 
Depends on the bank. Some banks have an insurance arm and so can do their own. Eg there is HSBC Insurance services down in Southampton I believe.

Nationwide used to have its own life company but was sold a couple of years back to Legal and General effectively creating a tie.

I think it is less common for banks to do their own GI. If you are interested, look at the small print on literature from the banks and it should say who the underwriters are.
 
There is an office for "HSBC Actuaries" near the Imperial War Museum in Manchester.
 
You must log in or register to reply here.
Back
Top