An actuary, an underwriter, and an insurance salesperson are riding in a car. The salesperson has his foot on the gas, the underwriter has his foot on the brake, and the actuary is looking out the back window telling them where to go.

A man with a wooden leg wanted to buy fire insurance for his leg. The first actuary quoted an annual premium of $500, estimating that the leg would burn once in 20 years and the value of the leg is $10,000. The second actuary quoted an annual premium of $50. When the second actuary was asked how he arrived at such a small figure, he replied, "I have this situation in the fire schedule rating table. The object is a wooden structure with an upper sprinkler, isn't it?"

What's the difference between an insurance company actuary and a mafia actuary?
An insurance company actuary can tell you how many people will die this year, a mafia actuary can name them.

An actuary and a farmer were traveling by train. When they passed a flock of sheep in a meadow, the actuary said, "There are 1,248 sheep out there."
The farmer replied, "Amazing. By chance, I know the owner, and the figure is absolutely correct. How did you count them so quickly?"
The actuary answered, "Easy, I just counted the number of legs and divided by four."

What's the difference between an actuary and an accountant?
An actuary does much the same thing as an accountant but lacks the accountant's bright and vivacious personality