Every one of the schemes we deal with is different. You have to try to work out why you're getting the results you're getting. This is what makes the work interesting, I guess. You have to enjoy problem-solving. I set all our premium rates and I make sure the company's got enough assets to meet its liabilities so it can pay out its claims.
Most actuaries work in either pensions or life insurance.
A growth area is general insurance which is where I'm mostly working now. If people start in insurance companies they'll probably start off in the actuarial department, doing pricing or valuation work. Then they might move on and do product development, and might then move on to become valuation actuary. At more senior levels, they might become a director of a company like I have, or if they're more interested in the technical side they might become the appointed actuary of a life company. Then they'll probably move on to be a team leader, where they'll have other students working for them, and then the ultimate thing is to become a partner.