Actuarial & Insurance Solutions (AIS) in Bermuda

Overview

Deloitte has one of the largest actuarial professional services firms in the world with a network of over 1,300 actuaries.Our Actuarial & Insurance Solutions market offering helps business leaders in Life, Health and Property & Casualty insurance industries as well as self-insured entities make informed decisions to grow revenue, manage risk and capital, and reduce operational costs to address critical business challenges.

Our actuarial practice is a part of this extensive global network of actuaries and will provide access to a deep pool of resources and expertise to support your business. Our actuarial and insurance consulting practitioners regularly collaborate with other Deloitte professionals on cross-functional and cross-border engagement teams. This enables us to provide a breadth of expertise and comprehensively solve problems in ways that differentiate us from other actuarial consulting firms.

AIS provides both traditional and non-traditional service offerings to best meet the needs of (re)insurers, ILS structures, asset managers, captives, pension plans, banks, and non-financial entities. We have a proven track record in developing customized and practical solutions to a wide range of actuarial and risk challenges.

View or download our Actuarial & Insurance Solutions (AIS) factsheet

Empowering business leaders to make strategic and informed decisions

Explore our range of services and perspectives below:

Financial Reporting and Actuarial Valuation

IFRS 17 Implementation in the Caribbean & Bermuda region

IFRS 17 is a new reporting standard for insurers that came into effect on 1 January 2023. Is your organization ready?

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Optimizing your transition to IFRS 17

Across both the Life and P&C space, most IFRS reporting insurers are well underway with their IFRS 17 implementation project.

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Long Duration Targeted Improvements

Long-Duration Targeted Improvements (LDTI) is the most significant change in accounting policy for US insurers in decades.

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Regulatory, Risk & Capital Advisory

Loss Reserve Specialist (LRS) Offering for Captive Insurers

The Loss Reserve Specialist can bring a range of benefits to Captive Insurers. In order to appoint someone as the LRS for an insurer they are needed to be a sufficiently qualified member with an actuarial body.

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Overview of Bermuda Insurance Regulations: Limited Purpose Insurers

Bermuda’s insurance regulation is divided into Commercial Insurers and Limited Purpose Insurers (“LPI” or “captives”). The Bermuda Monetary Authority (“BMA”) recognizes that insurers having varying risk profiles arising from the nature, scale and complexity of their business.

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Overview of Bermuda Insurance Regulations: Commercial Insurers

Bermuda’s insurance regulation is divided into Commercial Insurers and Limited Purpose Insurers (“LPI” or “captives”). With a stable economy, robust regulatory framework, and tax-efficient environment, companies are increasingly looking to Bermuda when making strategic decisions.

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Insurance-Linked Securities

Catastrophe Bond Offerings

Deloitte is the leading Loss Reserve Specialist and Claims Reviewer for Catastrophe Bond Offerings over the last decade. Having continued involvement in the Catastrophe Bond Offerings also means access to an extensive database of benchmarks and valuable industry information.

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Fair Valuing Insurance-linked Securities

As the capital and insurance markets continue to converge, market participants need a robust and consistent approach to fair value measurement and disclosure.

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Recommendations

Actuarial & Insurance Solutions (AIS) Reference Collection

Our Deloitte Bermuda professionals share key AIS reference materials covering a variety of services, regulations and information

Visit the Collection page regularly for the latest updates and new releases.

Explore the full Reference Collection here!

Our actuaries in Bermuda regularly partner with other Deloitte professionals from around the world. This enables us to provide services locally while tapping into the virtually unlimited expertise of Deloitte globally. Our locally-based team is committed to providing practical and timely solutions to all types of business queries.

Deloitte in Bermuda - empowering business leaders to make strategic and informed decisions

Overview

Empowering business leaders to make strategic and informed decisions