Professional services firm, Deloitte announced today the appointment of high profile actuary Elaine Collins as a partner of Deloitte and General Insurance Practice Leader for Deloitte’s actuarial practice Actuaries & Consultants.

"With the introduction of the Australian Prudential Regulation Authority (APRA) Stage 2 General Insurance reforms and its Financial Condition Reports (FCRs), Elaine’s extensive actuarial experience in areas such as valuations, financial reporting, solvency and capital and risk management will be highly valued," Deloitte Actuaries & Consultants Managing Partner Andrew Gale said.

"The new prudential standards address financial reporting issues, risk management issues, increasing internal risk controls, governance requirements and placing much more responsibility on directors, auditors and actuaries.

"Financial Condition Reports are a 'financial health check', which is now required to be completed by the Approved Actuary and reported directly through to the Board. These are expected to provide valuable insights to senior management and the Board, and one of the aims of our General Insurance practice is to assist in this process."

Sydney General Insurance Practice Leader, Paul Franks said he was delighted to welcome Elaine to Deloitte as a leading actuarial specialist in General Insurance. Elaine joins us from KPMG Actuaries where she was a Director, focussed on General Insurance practice.

"Elaine is a highly skilled specialist in general insurance actuarial consulting and her credentials include undertaking the Approved Actuary role and recently assisting the auditor of insurance liabilities for insurers in Australia and Singapore, respectively.

"This appointment enhances our strong general insurance advisory and consulting capabilities within the Australian Financial Services practice," Mr Franks said.