The Sprague Prize, established in 2012, commemorates Thomas Bond Sprague (1830-1920), the only person to have been President of both the Institute of Actuaries in London and the Faculty of Actuaries in Edinburgh. Sprague was Senior Wrangler and Smith's Prizewinner at the University of Cambridge in 1853. He had a most distinguished career in the actuarial profession, becoming actuary to the Equity and Law life insurance company, and Chief Executive of the Scottish Equitable Life Assurance Society. It will be awarded annually for distinguished performance in the Master of Mathematics/Master of Advanced Studies in Mathematics examinations of the University of Cambridge in the subjects of actuarial science, finance, insurance, mathematics of operational research, probability, risk and statistics.
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