Evidence of actuarial hiring: IRDAI-registered insurer (Appointed Actuary required) (source). Checked 10 Nov 2026.
About Ageas Federal Life
Ageas Federal Life Insurance Company Limited began in 2008 as IDBI Federal Life, a joint venture of IDBI Bank, Federal Bank and the Belgian insurer Ageas. IDBI Bank sold its stake in 2022, when Ageas raised its holding to 74 per cent, the first time a foreign partner held that much of an Indian life insurer, and the company took its present name. Federal Bank has since agreed to raise its stake from 26 to 30 per cent, reducing Ageas to about 70 per cent.
The company sells savings, protection and unit-linked plans, with Federal Bank's branch network as a main channel alongside agents and other partners. It is headquartered in Mumbai, where the actuarial team sits.
For an actuary, Ageas Federal is a smaller insurer controlled by a European group. Besides Indian statutory work, the team reports to Ageas under the group's international framework, so IFRS 17 and economic capital reporting form part of the job, giving early exposure to two reporting bases.
Also known as: IDBI Federal Life Insurance
What the actuarial team does
- Product pricing and IRDAI filing for savings, protection and ULIP products, including bancassurance designs for Federal Bank.
- Statutory valuation, reserving and support to the Appointed Actuary.
- Group reporting to Ageas: IFRS 17 results and the economic capital or solvency measures used by the parent.
- Embedded value and value of new business analysis.
- Experience studies on persistency and mortality, and reinsurance management.
- Modelling tools are not published; standard industry practice is a projection platform such as Prophet or Axis plus Excel, SQL and R or Python.
How students get in
Ageas Federal does not publish a named actuarial graduate programme. Vacancies are posted on its careers page and occasionally on the Institute of Actuaries of India job board. With a small team, it typically recruits analysts who have cleared a few core papers, but a fixed paper requirement is not published. Internships and exam-support policy are not published. Students interested in reporting to a European parent should apply through the careers page and watch the IAI site for Mumbai actuarial roles.
Roles this employer has advertised:
Questions students ask
How many papers does Ageas Federal Life ask for at entry?
A fixed number is not published. Analyst roles at insurers of this size usually expect a few core papers cleared.
Where is the actuarial team?
At the head office in Mumbai.
Does Ageas Federal Life take actuarial freshers or interns?
No formal fresher or internship scheme is published. Check the careers page and the IAI job board for openings.
