How much does a Actuary, insurance company make

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Actuary, insurance company

72 000 kr

Mathematicians and actuaries

61 100 - 75 200 kr / month

Women earn 102% of what men do.

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What will be the salary after tax?

Salary progression Actuary, insurance company

Average salary 72 000 kr
Males 71 600 kr
Females 72 900 kr
1 Likes 0 Comments 3 Vacant jobs ->

What does an actuary in an insurance company do? – Tasks and work environment

An actuary in an insurance company is responsible for analyzing and calculating risks, premiums, and reserves to ensure the company's financial stability. The work involves advanced statistics, probability theory, and mathematical models to forecast future payouts and revenues. Daily tasks are often carried out in close collaboration with economists, analysts, and IT specialists, and include reporting as well as advising management and product development. The work environment is typically office-based, with a high degree of independence and a focus on accuracy and analytical skills.

Salary development over time

Over the past three years, salary development for actuaries in insurance companies has been clearly positive. In 2022, the average salary was 67,200 SEK per month, followed by an increase to 69 900 SEK in 2023. In 2024, the average salary has risen further to 72 000 SEK, representing a total increase of nearly 7.1% over the period. This development reflects a continued strong demand for qualified actuaries, driven by increased regulatory requirements and digitalization within the insurance industry. Salaries have also been influenced by competition for experienced specialists and a growing need for advanced data analysis skills. The trend indicates that the profession continues to be highly valued, and salaries are likely to remain at a competitive level in the future.

Actuary in insurance company salary – comprehensive overview

  • Average salary: 72 000 SEK/month
  • Lowest salary: 61,100 SEK/month
  • Highest salary: 75,200 SEK/month
  • Hourly wage (average): 433 SEK
  • Women earn: 72,900 SEK (102% of men's salary)
  • Men earn: 71 600 SEK
  • Regional differences: Small variations – highest in metropolitan areas

Education and qualifications

The path to becoming an actuary in an insurance company typically involves higher education in mathematics, statistics, or probability theory, often at the master's level. Many Swedish actuaries hold a degree as a civil engineer or mathematician with specialization in insurance mathematics, sometimes supplemented with international certifications. Internships and trainee programs within the insurance industry are common and provide valuable experience before the first employment.

  • Civil engineering, engineering, or mathematician degree: 4–5 years
  • Specialization in insurance mathematics or statistics: Recommended
  • International actuarial certification: Meritorious (e.g., via the Swedish Actuarial Society)
  • Internships or trainee programs: Common at larger insurance companies
  • Strong analytical ability and interest in mathematics: Crucial for success

Many actuaries work in international teams and contribute to global projects within risk analysis and product development. The ability to communicate complex relationships in an understandable way is therefore a great asset in the role.

– statsskuld.se

Common benefits and compensations

In addition to the base salary, actuaries in insurance companies are often offered benefits such as occupational pension, wellness allowances, generous vacation terms, and opportunities for remote work. Bonus programs and professional development are also common, especially at larger employers.

Competition and challenges

The competition for positions as an actuary in insurance companies is moderate but remains stable, as the demand for qualified mathematicians and statisticians persists. The industry is characterized by high demands for precision and continuous skills development to keep up with new regulations and technological advances. Digitalization and automation are changing work tasks, requiring adaptability. The ability to interpret and communicate complex analyses is especially important when presenting decision-making data to non-technical stakeholders. For those aiming for the most attractive positions, it is important to combine technical expertise with business acumen and good teamwork skills.

Tips for aspiring actuaries in insurance companies

To succeed as an actuary in an insurance company, it is beneficial to develop strong analytical skills and an interest in mathematics early on. Precision is crucial, especially when working with complex calculations and reporting. Being communicative facilitates collaboration with colleagues from different backgrounds and helps to explain advanced relationships clearly. It is also wise to pursue internships or trainee programs within the insurance industry to gain insight into the daily work and establish important contacts. A proactive attitude towards new technology and regulations provides a competitive edge as the industry evolves. Patience and perseverance are required to complete the education and initial years in the profession, but the reward is a stimulating and well-paid career path.

Key facts about actuaries in insurance companies

  • Education level: Master's or engineering degree in mathematics/statistics
  • Work environment: Office-based, often in teams
  • Work arrangement: Full-time, sometimes flexible hours and remote work
  • Demand: Good, especially in metropolitan areas
  • Special skills: Insurance mathematics and advanced data analysis

Career paths and future prospects

After three to five years as an actuary in an insurance company, there are good opportunities to advance to roles such as senior actuary, head of actuarial, or specialist in risk management and product development. Some choose to broaden their skills toward management or consulting, while others move on to international assignments or consultancy work. According to the Swedish Employment Agency's job forecasts for mathematicians and actuaries, there are currently 143 job openings in the profession, although no precise job outlook can be provided due to limited data. Overall, demand is considered stable, especially given the industry's increased focus on risk management and regulatory issues.

Common questions about actuaries in insurance companies

  • What does an actuary in an insurance company earn?
    - The average salary is 72 000 SEK/month, with variations depending on experience and employer.
  • What education is required?
    - A master's degree or engineering degree in mathematics, statistics, or actuarial science is recommended.
  • Are there gender differences in salary?
    - Women earn on average 72,900 SEK, which is 102% of men's salary within the profession.
  • What does the job market look like?
    - Demand is good, especially in metropolitan areas, but no exact forecast exists due to limited data.
  • What career paths are available?
    - Opportunities to advance to senior actuary, manager, or specialist roles within insurance and risk management.
  • How wide is the salary range?
    - The lowest reported salary is 61,100 SEK/month and the highest 75,200 SEK/month.
  • Is remote work common?
    - Yes, many employers offer flexible arrangements including remote work.

Richard Andersson

Richard Andersson - 2025-07-10 11:53:33

Occupation
Who has the highest salary?
The highest salary for a Actuary, insurance company is 75200 kr. This salary belongs to a woman working in the Privately employed officials with a post-secondary education, 3 years or more. The highest salary for a man in this profession is 71700 kr.
Who has the lowest salary?
The lowest salary for a Actuary, insurance company is 61100 kr. This salary belongs to a man working in the Public sector. The lowest salary for a woman in this profession is 72900 kr.
Salary distributed by age and sector
Age Women's salary as a percentage of men's Base salary Monthly salary
25-34 57400 kr 58300 kr
35-44 75500 kr 76500 kr
45-54 86000 kr 87800 kr
Snitt 102% 70900 kr 72000 kr
* Empty columns indicate that the statistical data was insufficient to allow for a statistically significant conclusion.
Salary per sector
Salary based on education
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About the data

All information displayed on this page is based on data from the Swedish Central Bureau of Statistics (SCB), the Swedish Tax Agency and the Swedish employment agency. Learn more about our data and data sources here.

All figures are gross salaries, meaning salaries before tax. The average salary, or mean salary, is calculated by adding up the total salary for all individuals within the profession and dividing it by the number of individuals. For specific job categories, we have also considered various criteria such as experience and education.

Profession Actuary, insurance company has the SSYK code 2121, which we use to match against the SCB database to obtain the latest salary statistics.

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