Insurance Consulting

Actuarial Services

Insurance Consulting

We guide accomplishments in calculations:

  • The best estimate of technical provisions;
  • The risk margin;
  • The Solvency Capital Requirement;
  • The Minimum Capital Requirement;
  • The Solvency ratio.

We carry out the actuarial function includes:

  • Insurance, actuarial and policy advice to the insurance companies; it involves:
    • Appointed Actuary to Insurance Companies
    • Financial Condition Reporting
    • Pricing and Rating
    • Capital Modelling
    • Reserves Estimation as per different Regulatory Authorities; e.g. SECP, IA-UAE, SAMA etc.
  • Coordinating the calculation of technical provisions;
  • Ensuring the appropriateness of the methodologies and underlying models used as well as the assumptions made in the calculation of technical provisions;
  • Assessing the sufficiency and quality of the data used in the calculation of technical provisions;
  • Compare best estimates against experience;
  • Informing the Board of directors of the reliability and adequacy of the calculation of technical provisions;
  • Overseeing the calculation of technical provisions in case of insufficient data of appropriate quality;
  • Expressing an opinion on the overall underwriting policy;
  • Expressing an opinion on the adequacy of reinsurance arrangements;