Life Assurance
AIS are currently the statutory actuaries to a number of South African life insurers and have assisted in the actuarial audit of several other insurers. We also have a number of actuarial appointments across Africa. We provide a complete actuarial support in respect of valuation, product development, strategic advice and other support services for our offices with no internal resources. A more limited role consisting of review and independent sign off of the statutory valuations and returns can be performed where the company has strong actuarial resources. We also have a number of large clients for whom we provide services such as embedded value reviews, merger and acquisition advice, process reviews and risk reviews.
In particular we assist with the following:
- Ensuring that new business development is compliant, financially sound and appropriate for the target market;
- Ensuring that internal business planning considers appropriate use of financial modelling including stochastic analysis and scenario testing where appropriate;
- Ensuring that solvency is adequately measured and managed
- Ensuring that suitable levels of skill are maintained
- Drawing up of investment mandates and monitoring of their compliance.
We are often highly involved with the risk management processes of the insurers for whom we work and include a section on risk within our valuation.
Our services offered include:
- Statutory valuation and appointed actuary services
- Product development
- Reserving for guarantees
- Capital management and modelling
- Experience analyses
- Profit reporting
- Embedded and appraisal values
- Risk analyses
- Stochastic projections
- Fair value accounting
- Executive training
- Country assessments