Statutory Valuation & Appointed Actuary
Keeping in line with complex and ever-changing statutory regulations can be an onerous responsibility. It’s reassuring to know that there are professionals who can shoulder that responsibility for you.
A tailored service
Shouldering the burden
Selecting the best
A tailored service
At Actuarial & Insurance Solutions we can carry out all the statutory duties of the Appointed Actuary, either acting as the Appointed Actuary or supporting your in-house team. We assist many different types of company, from small or new insurers requiring a full Appointed Actuary service, to larger companies requiring assistance in specific areas or requiring an independent opinion.
We will tailor our services to fit your needs. Typically, the areas where we can help include:
- Valuing assets and liabilities in accordance with statutory guidelines
- Interpreting regulations including advice on recent changes and best practice
- Producing and signing off forms for the supervisory authority
- Calculating solvency margin, resilience reserve, cost of bonus
Extra services we can provide include:
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Reviewing the financial condition of the office and producing the annual financial condition report
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Projecting the finances of the office and advising on sensitivities
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Reviewing internal controls, quality of data and accuracy of systems
- Advising on Policyholders Reasonable Expectations and bonus policy
Shouldering the burden
Keeping in line with statutory regulations is essential. Penalties for not complying are harsh. But making sure you comply can be costly. We work in a cost-effective manner, eliminating many of the overheads of an in-house actuarial team. We are always one step ahead in keeping in touch with changes in regulations, shouldering the burden for you.
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Selecting the best
We have many years’ experience in providing statutory valuation and Appointed Actuary work to a wide variety of clients. These clients include insurance companies, friendly societies, new entrants and firms based overseas. We have developed strong relationships with the supervisory authorities and legislators and can, if necessary, seek guidance on a ‘no name’ basis.
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