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December 13, 2004
Day of reckoning dawns for actuaries over Equitable Life
Many of my best friends are actuaries, but I’m afraid that’s not a good sign. My friends in general are a motley collection of eccentrics and inhabitants of other planets.
This week a damning report into actuaries, and their failure to protect our savings, will turn the spotlight on a profession, which has been described as “secretive, cynical and self-serving”.
The anger at the failure of the profession to protect the “public interest” is understandable. Staff in the government actuary’s department were fingered by Lord Penrose in his investigation into what went wrong at Equitable Life.
Posted by Tom Troceen