An actuary is a business professional who analyzes the financial consequences of risk.
Marsh & McLennan removed the chief executive of its Marsh Inc. insurance brokerage unit, the day after the firm was was charged with rigging insurance transactions by New York State Attorney General Eliot Spitzer. Michael Cherkasky takes over as chief executive of Marsh Inc. immediately, the company said, replacing Ray Groves, who had been Marsh's CEO since 2003. Cherkasky was chief executive of Marsh Kroll, the company's risk consulting unit, formed earlier this year after Marsh & McLennan bought investigation and security company Kroll Inc. for about $1.9 billion.
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