Iain Maclugash FIA

Associate and Actuary

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Iain is a consultant actuary within the Insurance Consulting team, supporting life insurance clients with their actuarial and risk management needs. This involves leading projects to deliver effective and innovative solutions for our clients.

He has developed expertise in a number of key actuarial areas. This includes traditional valuation exercises covering both Solvency II and non-directive firms, writing a range of with-profits, unit-linked and traditional insurance business. Iain also has hands-on experience with developing risk management frameworks, including risk registers, risk appetite frameworks and regular risk management information.

Iain has used his knowledge to assist clients in a range of projects including the internal audit of insurance companies, with particular focus on the audit of Actuarial and Risk functions and providing independent advice to stakeholders looking to conduct a risk transfer.

He has worked across a significant range of clients in his career to date. This includes experience assisting Mutual Societies, With-Profits and Holloway firms and Proprietary firms; ranging in size from small non-directive firms, to FTSE 100 insurers.

Significant experience:

  • leading the independent review of the actuarial valuation for a mutual insurer, providing effective challenges and support to the Chief Actuary
  • provides advice to pension scheme trustees in relation to risk transfers to insurance companies and presenting Barnett Waddingham’s opinion at scheme transfer meetings
  • developing a risk management framework for insurance client, including required policies and risk registers. Working closely with the client to ensure that the framework was developed in line with internal considerations and provided clear value to the management of the business
  • updating the risk appetite framework for a large mutual society, with key focus on financial and capital risk appetites
  • developing an internal risk-based capital model for a non-insurance client to enable appropriate management of their business. Providing ongoing support to share knowledge and ensure internal teams gain the expertise to use the models and add value to the business decisions.


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