Institute of Actuaries
noun
ukusINSURANCE
in the UK, anorganizationforpeoplewhoworkasactuaries(=peoplewhosejobis tocalculatehow muchriskisinvolvedin something andthereforehow muchinsurancecompanies, etc. shouldchargetheircustomers):
Arecentreportfrom theInstituteof Actuaries says suchwaysofvaluingfundmanagementandstockbrokingbusinessesarewrong.