Should Irish Actuaries Work Abroad?

At some point, almost every Irish actuary thinks about working abroad.

Maybe it's the higher salaries. Maybe it's the weather. Maybe it's the opportunity to work on larger markets and more complex products.

Whatever the reason, actuarial qualifications are among the most portable professional qualifications in the world.

But before booking a one-way flight to Sydney or Bermuda, it's worth understanding what the reality actually looks like.

When is the best time to move?

The sweet spot is usually shortly after qualification.

Many actuaries find that moving too early can be difficult. Employers often prefer candidates already progressing through the local exam system, while visas can also be more challenging.

Move too late and a different problem appears. If you have 10+ years of experience, employers are often paying a premium and may prefer someone who already understands the local market, regulations and products.

For many actuaries, 0–3 years post qualification is the ideal time to explore opportunities abroad.

London: the career accelerator

For Irish actuaries, London remains the easiest and most common move. The opportunities are enormous:

• Lloyd's market
• Reinsurance
• Specialty insurance
• Consulting
• Investments
• Banking

There are simply more employers and more specialist roles than Ireland can offer.

The trade-off? London isn't just a bigger Dublin. The pace is faster, competition is stronger, and the commute is longer. A 45-minute Tube journey each way quickly becomes part of life.

For actuaries looking to accelerate their careers, however, London remains one of the strongest markets in the world.

Bermuda: the money move

If London is the career move, Bermuda is often viewed as the financial move. The island is home to many of the world's largest reinsurance companies and has become a popular destination for Irish actuaries.

The positives are obvious:

• Strong compensation
• International experience
• High-profile work
• Excellent weather

But Bermuda isn't for everyone. The island is small — very small. Some actuaries love the lifestyle. Others find that after a few years it starts to feel restrictive.

We cover Bermuda in more detail in a separate article.

Australia: harder than people think

Australia remains one of the most attractive destinations for Irish professionals. However, the actuarial market is smaller than many people realise.

Many Irish actuaries assume they can move to Sydney and immediately secure an actuarial role. That's becoming increasingly difficult. Challenges include:

• Visa sponsorship
• Local experience requirements
• Competition from domestic candidates
• Smaller actuarial hiring volumes

The strongest opportunities are generally found in General Insurance, Superannuation and Consulting. Some professionals initially move into broader analyst or insurance roles before transitioning into actuarial positions later.

The lifestyle can be fantastic. The job search isn't always as straightforward.

Canada: the most underrated option

Canada doesn't get nearly as much attention as Australia. It probably should.

Toronto is one of the largest actuarial centres in North America and hosts major insurers, pension firms and consultancies. The market is particularly strong for:

• Life insurance
• Pensions
• Consulting
• Risk management

Many Irish actuaries find the transition relatively smooth because of the similar culture and professional environment.

The biggest adjustment? Winter. A Toronto winter is very different from an Irish winter. You'll understand after your first January.

The United States: huge opportunity, huge barrier

The US has the largest actuarial market in the world. The range of opportunities is unmatched:

• Health insurance
• Life insurance
• Property & Casualty
• InsurTech
• Analytics
• Investments

The challenge is access. For many Irish actuaries, the biggest obstacle isn't finding a role — it's securing the right visa. The opportunities are excellent. Getting there can be complicated.

Quick comparison

• London — best for GI, Lloyd's, Consulting. Advantage: career progression. Challenge: cost of living.
• Bermuda — best for Reinsurance. Advantage: compensation. Challenge: small island life.
• Australia — best for GI, Superannuation. Advantage: lifestyle. Challenge: visas and local experience.
• Canada — best for Life, Pensions, Consulting. Advantage: balance and stability. Challenge: long winters.
• USA — best for Health, InsurTech, Life. Advantage: scale of opportunity. Challenge: immigration.

Is it worth it?

For most actuaries, yes.

Not necessarily because you'll earn more money. Not necessarily because the market is better. But because you'll gain experience, perspective and a professional network that can benefit you for decades.

Some Irish actuaries leave and never come back. Others spend two or three years abroad before returning home. Neither path is right or wrong.

The important thing is understanding what you're moving to — not just what you're moving away from.

And if you're considering it, there has probably never been a better time to explore what's out there.