Question Summary:
Actuary

Question Detail:

 
You've already answered a question regarding the job of an actuary but very rapidly and I'm afraid you do not seize every aspect linked to this job.
Definition: A person with expertise in the fields of economics, statistics and mathematics, who helps in risk assessment and estimation of premiums etc for an insurance business, is called an actuary.Description: Insurance business requires advanced statistical and analytical skills for evaluation of risks and returns associated with each proposal. Insurance companies employ these experts from the field of economics, statistics, mathematics, risk assessment and management. Actuaries play a crucial role in the operation and profitability of any insurance business. They help the firm with their expertise in calculation of premiums of various insurance policies, rating methods and reserves, etc.
 
1) Is this job Halal ?
2) Would the salary also be halal ?
 

Answer :

In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
 
We are not free of mistake and matters can be overlooked. However, before burdening us with questions of this nature, please check the askimam website more thoroughly for similar questions asked in the past. Also, for queries of this sort you are required to provide a direct link to the question you are referring to. Here is a link to a previous question which shows that we did take into account the definition:
2) [1]Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance and other industries and professions. Actuaries are professionals who are qualified in this field through education and experience.  In principle, active and direct participation in any unlawful venture is impermissible. Allah Ta'ala says,  و لا تعاونوا على الإثم و العدوان(النساء:2)  Do not assist one another in sin and transgression (Nisa: 2)  An Actuarial Scientist doesn’t have an active or direct connection with anything unlawful. The responsibility of prohibition will solely be connected to those who participate directly in anything unlawful.  However, it would be advisable to choose any other career which doesn’t have direct or indirect connection to anything unlawful. "Public » Askimam" , accessed 27 November 2013. http://www.askimam.org/public/question_detail/27437.
 
And Allah Ta’āla Knows Best
Khalil Johnson
Student Darul Iftaa
Canada 
Checked and Approved by,
Mufti Ebrahim Desai.