An actuary is an expert in mathematics and statistics who is capable of calculating the probability of key commercial events or of calculating the changing weightings in a stock market index. Insurance companies employ actuaries to determine their exposure on specific insurance products. The JSE employs actuaries to calculate the various JSE indexes and to cope with the many complications of the share market. For example, new shares are listed, existing shares are delisted, there are share splits, consolidations, takeovers, mergers, shares moving from one sector to another and many other corporate events and actions which influence index levels on a daily basis. Hence the JSE Actuaries indexes.
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