Companies hiring actuaries › General Insurance
Agriculture Insurance Company of India
Evidence of actuarial hiring: Appointed Actuary (contract) vacancy, deadline extended to 8 May 2026, notice on IAI site (source). Checked 10 Nov 2026.
About Agriculture Insurance Company of India
Agriculture Insurance Company of India (AIC) is a government-owned specialist insurer created in 2002 to take over crop insurance from the public-sector general insurers. Its shareholders are GIC Re and NABARD along with the four public-sector general insurers (New India, National, Oriental and United India). It is headquartered in New Delhi and has regional offices across the states.
AIC is one of the main implementing insurers under the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather Based Crop Insurance Scheme, and also sells cover for livestock, plantations and other rural risks. Premiums under the schemes are largely set through state government tenders, so pricing is bid-driven and heavily dependent on yield and weather data.
The actuarial function is small. In 2026 AIC advertised for an Appointed Actuary on contract, with the notice carried on the Institute of Actuaries of India website. For students, the attraction is exposure to crop and weather-index pricing and loss volatility rarely seen elsewhere.
Also known as: AIC
What the actuarial team does
- Pricing bids for PMFBY and weather-index crop schemes using historical yield and rainfall data
- IBNR and premium-deficiency reserving for highly seasonal crop claims
- Statutory reserving and solvency reporting under the Appointed Actuary
- Reinsurance analysis, including proportional and stop-loss programmes
- Drought and catastrophe-scenario modelling
- IRDAI product filings for non-scheme rural products
How students get in
AIC recruits through formal notices on its recruitment page (aicofindia.com/recruitment). It has periodically hired Management Trainees in specialist streams; whether an actuarial stream is offered varies by notice, so check each one. Senior actuarial posts, such as the 2026 contractual Appointed Actuary vacancy, are advertised on the Institute of Actuaries of India site. A regular actuarial trainee or apprentice scheme is not published, and papers required at entry are stated only in each notice. Students should watch both the AIC and IAI notice boards.
Roles this employer has advertised:
Questions students ask
What papers does AIC ask for?
It depends on the notice. The 2026 Appointed Actuary post was for a qualified actuary; junior actuarial eligibility is not published regularly.
Where is the actuarial team?
At the head office in New Delhi.
Can freshers or interns join AIC's actuarial team?
There is no published actuarial internship. Freshers enter only through Management Trainee or officer recruitment notices when a specialist stream is included.
