July 15

Everybody left this morning around 7am, so I was awoken by multiple alarms. I eventually got up to run around 10, which was a very, very rough run. I'm hoping it was because I didn't eat anything beforehand, but come Sunday, I'll guess I'll find out.

I went to the JLT Re (4th largest reinsurer in the world, based on revenue) actuarial seminar today. It took me a little while to figure out which direction to turn after getting off the tube (which was running behind), but I figured it out. I looked like I fit in, and I felt like I fit in with all the other business like people I passed, it's was great.


The seminar itself was being led by one of their actuaries, Jamie. He has been studying/taking the exams for about 5 years now and it almost finished, I would say he was in his early/mid 30's. The other, dozen or so, people were students, interns, or who worked in another section of JLT. Many were interns in the analytical department, or there were a few who were employed there. One intern, was just finishing her A-levels, most similar to our high school diploma. They go to college when they are 16-18, where they complete their A-levels, then continue on to university for 4 years.

These people had been going through seminars all week, it sounds like, on subjects like reinsurance, risk management, construction insurance, etc. etc. This was the last one for the week and they only have to attend if the subject interests them. I can honestly say, of the students, I knew the most about the actuarial field, I did not, however, know how the UK went about it. In the US we only have, at most, 9 exams that an actuary can take, in the UK they are required to take 15. I d believe the UK's exams are a bit shorter and many make up 1 US exam, but still, 15 is a lot. They also do not need to be specialized in math(s), like we do in the US. It is technically not required to be a math, insurance, financial, major to take the exams in the US, but certain classes are required before taking the exams, and it would definitely help more. An intern, who is getting his degree in chemistry wanted to know if he could go through the actuarial process without having taken his A-levels, and Jamie though he could, if he wanted to put in the effort. I think in America that would be very hard to do. It was just really interesting looking at the data they create and what he does.

There was one question he asked us: A bus only has 3 stops and the time from stop 1 to stop 2 is normally 5 minutes, and the ride from stop 2 to 3 is only 5 minutes. One day the ride from stop 1 to 2 takes 6 minutes. How long with the journey take?

The majority of them though, '11 minutes,' of course, which is what he wanted them to say, I could tell. If this was all the known data, it is just a guess on how long the ride takes, but so many factors come into play that need to be taken into account. That was my first though, so I like to think I'm on the right career path, but who knows.

Later in the night JT and I went on a walk through town. We tried to take as many side streets as possible, and we ended up coming across some pretty cool areas. We made it to the richer part of the city, and we found ourselves in the "pub" district. Everyone was still dressed in their business wear just drinking at the pub, a favorite British past time, all along this particular street. It was an awesome sight.