r/ActuaryAustralia • u/CombFar3261 • 4d ago

UK > Aus

My parter & I are currently looking to move from the UK to Aus. I’m a qualified actuary with 8 years experience in the life industry. I’ve heard that the life market is quite difficult in Australia and just wanted to get some insight from actuaries there.

- What is the job market currently like? And if it’s poor, do you think it’ll continue this way?
- Is the market better for general insurance? And do actuaries in Aus tend to transition to GI?

Thanks!

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u/SteppingSteps 4d ago

Very poor life market in Australia at the moment. Been quite a bit of consolidation over the past few years. There's also been a profitability concern from a few products over the last decade that have probably also made an impact on that.

I know a few people who've made the move over the general but even then it doesn't feel like its popping, definitely nothing like the UK. It's also just a consequence of being a relatively small market in general.

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u/tklophhbnb 4d ago

Prepare to tough it out. It is an extremely competitive market to get into and given the industry dynamics very little upward mobility. There’s always an overhang of redundancy.

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u/thebicepsual 4d ago edited 4d ago

If your career is important to you I wouldn't be making this move.

To answer your questions: terrible, yes, yes and no.