History
The Society was founded as a merger of two major American actuarial associations, as reflected in its logo: the Actuarial Society of America (ASA) and the American Institute of Actuaries (AIA).
The Actuarial Society of America was the first actuarial professional association in North America, founded in 1889 with only 38 members and headquartered in New York City. Initial members were included by invitation, but the organization soon adopted a system of examination for qualification, with the first Fellow to qualify via exams joining in 1900.
The American Institute of Actuaries was founded in 1909. Based in Chicago, it attracted members from life insurance companies in the midwestern and southern United States. The formation of the AIA, which (like the ASA) was geared toward actuaries in the field of life insurance, was followed within the decade by the creation of two other specialized actuarial organizations: the Casualty Actuarial Society, which still exists today, and the Fraternal Actuarial Association which dissolved in 1980.
Between the two organizations, which came to have some overlap in membership, the number of recognized professional actuaries climbed from the initial 38 to over 1000 by the time the two organizations merged in 1949 to form the SOA. The SOA has seen continued growth since then, now recognizing over 20,000 professional actuaries as active members.
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—José Ortega Y Gasset (1883–1955)
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“You treat world history as a mathematician does mathematics, in which nothing but laws and formulas exist, no reality, no good and evil, no time, no yesterday, no tomorrow, nothing but an eternal, shallow, mathematical present.”
—Hermann Hesse (1877–1962)