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English definition of “actuarial risk”

actuarial risk

noun [U]
 
 
the risk that the calculations done by an actuary may be wrong and an insurance company or pension fund will lose money: Closing the pension scheme to new entrants would not save the company money in the short term, but it would reduce actuarial risk.
(Definition of actuarial risk from the Cambridge Business English Dictionary © Cambridge University Press)
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