Many people are unsure what actuaries do but it is not a new profession. Its roots stretch back more than 240 years. It was 1756 when James Dodson, a fellow of the British Royal Society, was turned down for an insurance policy on the grounds that he was too old. His brain has obviously not slowed down and he set about putting together a table of annual premiums based on life expectancy.

From these beginnings the profession began to provide solutions to a variety of problems in the life assurance and pension areas. In the recent past, actuaries have ventured further afield into areas such as general insurance, investment banking and management consultancy.

They are forecasters using probability theory to predict the future. While maths is obviously a requirement, actuaries also need good communication skills, as they must explain difficult concepts to boards of management and other interested bodies.

The rewards in financial terms are good (see fact file) but Paul Duffy of the Society of Actuaries in Ireland says the career itself is also intellectually rewarding. "It's very challenging and does make demands but is also a very attractive career," he says. "Actuaries make sense of the future."