The almost phenomenal advances that have recently been made in the business of industrial assurance have brought this branch of our provident system into a position of national importance. Ten years ago, the business of our industrial companies was, roughly speaking, as under:—

whereas to-day it is, approximately,

Beyond the business of these companies, a very large number of industrial assurance contracts exist in the societies, clubs, and various orders registered under the Friendly Societies Act of 1875.

Even within comparatively recent years it was not uncommon to hear the question asked, “What is an Actuary”?; and, before dealing with our subject proper, it would therefore seem necessary, or very desirable at least, to trace to some extent the origin and development, so to speak, of the Actuary, and the rise and progress of the Actuarial Profession.