United India Insurance Company Limited is seeking a qualified individual to fill the dual role of Actuary and Appointed Actuary. This recruitment, conducted on a full-time contractual basis, adheres to the IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024. This article provides a detailed overview of the position, including eligibility criteria, responsibilities, the application process, and important deadlines.
Job Overview
United India Insurance is looking for a skilled and experienced Actuary to also serve as the Appointed Actuary. This is a crucial role within the company, ensuring compliance with regulatory requirements and contributing to sound financial decision-making. The position is full-time and contractual.
Eligibility Criteria
Candidates must meet the criteria outlined in the IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024, as amended. Specific requirements include:
- Residency: The candidate must be ordinarily resident in India.
- Fellow Membership: The candidate must be a Fellow member of the Institute of Actuaries of India (IAI) as per the Actuaries Act, 2006.
- Experience: The candidate must have experience in pricing and reserving within the general insurance sector.
- Professional Conduct: The candidate must not have committed any breach of professional or other misconduct.
- Age Limit: The candidate must not be over the age of 60 years.
Duties and Obligations
The Actuary in addition to Appointed Actuary will primarily support the Appointed Actuary in pricing and valuation activities. This support must be provided within the timeframes specified by the regulatory authority, and the individual must remain up-to-date with all amendments to the relevant regulations.
Emoluments
The compensation for this position is negotiable. Candidates are requested to indicate their salary expectations in their application.
How to Apply
Eligible candidates should submit their applications in the prescribed format (attached with the official notification). The application should be sent to the following address:
Authorised Signatory (HR) Corporate HRM Department, VIII floor, United India Insurance Co. Ltd., #24, Whites Road, Chennai 600 014
The envelope’s upper left corner should be clearly marked “Application for Actuary in addition to Appointed Actuary.” The deadline for receiving applications is 19.02.2025.
In addition to the physical application, candidates should also email their applications to [email address removed] with a copy to [email address removed].
General Instructions
- Candidates are responsible for ensuring they meet all eligibility requirements as per the IRDAI Regulations.
- Any incorrect, false, or incomplete information provided by the candidate will result in the rejection of their application.
- Shortlisted candidates will be required to attend a personal interview as part of the selection process.
- The company’s decision on all aspects of the recruitment process is final and binding.
Key Takeaways for Applicants
- Ensure you meet the IRDAI regulations’ eligibility criteria.
- Clearly indicate your salary expectations in your application.
- Submit your application both physically and via email before the deadline (19.02.2025).
- Prepare thoroughly for the personal interview.
Frequently Asked Questions (FAQs)
Q1. What is the last date to apply for this position?
A1. The last date for receiving applications is 19.02.2025.
Q2. What are the key eligibility requirements?
A2. Key requirements include being an Indian resident, a Fellow member of the IAI, having relevant experience in general insurance pricing and reserving, and being under 60 years of age. Refer to the IRDAI regulations for the complete list.
Q3. How should I submit my application?
A3. You should send your application physically to the address provided and also email it to the specified email addresses.
Q4. Is the salary negotiable?
A4. Yes, the salary is negotiable. You should mention your salary expectations in your application.
Q5. What is the selection process?
A5. The selection process includes application review and a personal interview.
Q6. Where can I find the official notification?
A6. The official notification is likely available on the United India Insurance website. (It is highly recommended to include a direct link to the official notification when available.)
This article provides a comprehensive overview of the Actuary and Appointed Actuary recruitment at United India Insurance. Candidates are advised to consult the official notification on the company’s website for the most accurate and detailed information. We wish all applicants the best of luck!
