The Actuarial Pay Index

Reinsurance actuary salary

What reinsurance actuarial roles pay in 2026: typical base salary at US reinsurers by credential and experience, plus Bermuda pay and bonus targets.

Median base salary, FSA with 6 to 9 years at a US reinsurer

$194k

Updated 6 October 2026 in the CTS Actuarial Pay Index.

US reinsurers: Fellows

3 to 5 years: $154k median base, typically $133k to $176k
6 to 9 years: $194k median base, typically $168k to $221k
10 to 14 years: $221k median base, typically $191k to $252k
15+ years: $251k median base, typically $218k to $288k

Bermuda reinsurers: Fellows

Base salary at Bermuda reinsurers runs a little above US reinsurers, and the bigger difference is the package. For a Fellow with 6 to 9 years: base of about $200k (US $194k), a bonus target of about 18 to 28% (US 18 to 23%) and a housing allowance of about $2,000 to $6,000 a month (none as standard in the US): about $260k to $328k a year all-in, against $229k to $239k base plus bonus at a US reinsurer, before income tax. Bermuda has no personal income tax, although payroll tax and social insurance apply. Base salary in US dollars, before bonus:

3 to 5 years: $160k median base, typically $139k to $183k
6 to 9 years: $200k median base, typically $173k to $229k
10 to 14 years: $235k median base, typically $204k to $269k
15+ years: $270k median base, typically $234k to $309k

US reinsurers: Associates

3 to 5 years: $133k median base, typically $119k to $145k
6 to 9 years: $159k median base, typically $142k to $173k
10 to 14 years: $176k median base, typically $158k to $193k
15+ years: $196k median base, typically $175k to $214k

Reinsurers pay about 6% more base salary than life and annuity insurers for the same credential and experience.

Bonus and total pay

Bonus targets for a Fellow with 6 to 9 years at a US reinsurer usually run about 18 to 23% of base in the offers we see, so on the median base above that is roughly $35k to $45k, for total pay of about $229k to $239k. Bonus targets vary more between employers than base does, and senior packages often add long-term incentives, so compare whole packages rather than base alone.

Bermuda

Many reinsurance actuaries work in Bermuda, where employers rarely publish pay ranges. For a wider view, the Bermuda Government's 2024 employment survey puts the median gross income of non-Bermudian actuaries, across all levels and employers, at $226,796. Bermuda also has no personal income tax. See actuary salary in Bermuda for the package.

Compare reinsurance pay in the Actuarial Pay Index → You can switch market, experience and sector, and unlock where your own salary sits and what it takes to move.

How these figures are built

The Actuarial Pay Index is our view of what actuarial roles pay, built from the offers, counteroffers and pay conversations in our own search work, the pay ranges in the actuarial roles advertised over the last 12 months, and government wage data. Every figure is reviewed by our team against what we see in the market. Figures are base salary for new hires, before any bonus; lower and upper figures are the lower and upper quartiles. Bonus targets come from the offers we see. No individual salaries are ever published. How the index is built.