Griffith Davies facts for kids

A portrait of Griffith Davies.

Griffith Davies (born 5 December 1788 – died 25 March 1855) was a famous actuary. An actuary is a professional who uses math and statistics to study risks, especially in insurance and finance. They help companies figure out how much to charge for insurance policies.

Early Life and Challenges

Griffith Davies was born on 5 December 1788. His home was near Cilgwyn mountain in Llandwrog, Caernarfon, Wales. His father, Owen Davies, worked as a farmer and quarryman.

Like many children back then, Griffith first learned to read at a Welsh Sunday school. When he was seven, he started learning English. His family was not wealthy, so Griffith had to work from a young age. Until 1808, he worked as a farm helper, horse driver, and quarryman. Even with all his work, he still managed to study and learn on his own whenever he could.

Moving to London for Education

Griffith saved up some money and decided to leave Wales. He arrived in London on 15 September 1809. There, he went to a school to improve his writing and grammar. However, he was most interested in arithmetic, which is the study of numbers and calculations.

A Career in Mathematics and Insurance

In January 1810, Griffith started working as an arithmetic teacher at Mr. Rainhall's school. He earned 20 pounds a year. While teaching, he began calculating when eclipses would happen and drawing diagrams to show them.

In the summer of 1811, he opened his own school. The next year, he moved to a bigger house for his school. He also joined the Mathematical Society, which had a large library that helped him a lot. During this time, he also helped correct a Welsh magazine. In 1814, he wrote his book, ‘Key to Bonnycastle's Trigonometry’. This book showed everyone how good he was at math.

Becoming an Actuary

After writing his book, Griffith started teaching private students. One of his students worked for an insurance company and wanted to learn about life assurance. Griffith didn't know much about it at first, but he quickly learned everything.

Even famous people sought his help. Sir John Franklin, a well-known explorer, came to Griffith to learn more about navigation. Griffith soon started teaching many people who worked for insurance companies. He also began doing special work for these companies. William Morgan, a leading actuary, even gave him a certificate saying he was very skilled in actuarial work.

In 1820, Griffith won a large silver medal from the Society of Arts. He received it for creating a very clever sundial. The Guardian Assurance Company asked him for help when they were setting up their business. He helped them create the tables they needed. By the end of 1823, he became the main actuary for the Guardian Assurance Company. He worked there for almost 30 years.

In the same year, the Reversionary Interest Society was started. Griffith created many important tables for this company. In one of his first reports, he shared an important discovery. He found strong proof that people in Great Britain were living longer over the past hundred years.

In 1825, he published ‘Tables of Life Contingencies’. This book included information about how long people lived from the Equitable Society. It also had new ways to calculate insurance costs. Griffith Davies became very well known for his work as an actuary.

Working with the East India Company

In 1829, the leaders of the East India Company asked Griffith to study their military fund in Bombay. From then until 1851, he was often asked for advice about various Indian funds. He wrote more than 20 reports on these funds, each with many insurance tables. He also worked for the Bank of England from time to time.

On 16 June 1831, Griffith Davies was chosen to be a Fellow of the Royal Society. This was a great honor, recommended by another famous mathematician, Mr. Benjamin Gompertz.

Later Life and Passing

From about 1847, Griffith Davies often suffered from bronchitis, a lung illness. On 5 December 1854, he had a paralytic stroke. He passed away on 25 March 1855, at his home in Islington, London. He was married twice and had a son and a daughter.

Published Works

• ‘Report and Valuation for the Madras Medical Fund, with numerous tables for its future guidance.’
• ‘Tables for the Use of Friendly Societies, by J. Finlaison. The tables compiled by G. Davies,’ 1847.