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Barnett Waddingham
0333 11 11 222
We offer a full range of actuarial and risk management consultancy services to life insurers - ranging from full outsourcing to advisory and support arrangements.

We work with the full range of life insurers, ranging from niche providers, friendly societies and Lloyds’s life syndicates to FTSE 100 and global insurance companies. We listen and tailor our approach to reflect the size and complexity of our clients and to ensure our solutions are suitable for the risks and issues they face.

Specific expertise in our actuarial practice

  • Reserved roles – we are experienced in fulfilling a wide range of reserved roles including Chief Actuary, Actuarial Function Holder, Appropriate Actuary, With-Profits Actuary, Reviewing Actuary and Signing Actuary roles
  • Solvency II calculations – we have significant experience in supporting clients with their Actuarial Function requirements either through undertaking the calculations for them or reviewing their calculations to provide assurance on the methodology, approach and implementation.  Our market leading SIIMPLIFY tool provides those insurers wishing to calculate their own Solvency Capital Requirement with a cost efficient Excel based tool to do this backed with our high level of customer service. 
  • Peer review – as well as providing the actuarial function for companies, we can support internal function by providing independent peer review, challenge and expert input.

Specific expertise in our risk management practice

  • Validation – providing specialist resource to support life insurers validate their internal (or partial internal) model.  We provide both specialist validation knowledge and experience along with specialist technical knowledge in areas such as longevity risk and market risk.
  • ORSA – we are experienced in helping life insurers develop and embed their ORSA process and report so as to ensure that these deliver value from day one.  We have developed a range of tools and techniques to help life insurers implement their ORSA in a time and cost efficient manner recognising that one size does not fit all. 
  • Risk and internal audit co-sourcing – we have significant experience in supporting a number of life insurers and other professional services firms in providing specialist actuarial resource in a cost efficient manner to support risk functions or internal audit departments on a co-sourcing basis. 
  • Risk outsourcing – we can provide an outsourced Risk Function and / or a Chief Risk Officer

Related knowledge and resources


  • Picture for Conduct risk for insurers: what is the right approach?
    Conduct risk for insurers: what is the right approach?

    Conduct risk is one of the more recent risk areas that have appeared in the insurance industry. There are a number of things that insurers should think about in response to the heightened attention being paid.

  • Picture for Climate Change Risk – what now?
    Climate Change Risk – what now?

    You must have heard about Climate Change lately – it has made an appearance in various publications from the PRA, FCA and EIOPA. Here at BW, we’ve been giving it a lot of thought too!

  • Picture for First impressions of KIDS – a very mixed bag
    First impressions of KIDS – a very mixed bag

    The Packaged Retail and Insurance-based Investment Products (PRIIPs) regulations came into force on 1 January 2018, requiring all providers of PRIIP providers to have a Key Information Document (KID) available online from 3 January 2018.

  • Key regulatory updates: Life and General Insurance late 2016/early 2017

    In case you missed anything amid the rush to prepare for and get stuck into year-end reporting, this newsletter highlights the main points from some of the key regulatory publications between the period 1 October 2016 to 28 February 2016.

  • Key regulatory updates: Life and General Insurance Q3 2016

    Keeping abreast of the latest regulatory developments can be challenging at the best of times. Our newsletter is here to help, drawing out the main points from some of the key regulatory publications over the period 01 July 2016 to 30 September 2016.

  • Solvency II disclosures

    It may feel like there’s plenty of time before the Solvency and SFCR and RSR submission deadlines, but the scattered nature of the regulation and the high volume of information required make the task of preparing the reports far from trivial.

  • Picture for UK with-profits funds: investment performance and strategy
    UK with-profits funds: investment performance and strategy

    Our with-profits investment performance and strategy report enables insurers to compare the performance over the most recent one and five year periods, leading to better, more informed decision making.

  • Picture for With-Profits Survey 2017
    With-Profits Survey 2017

    A recent investigation by Barnett Waddingham has uncovered significant inconsistency in the investment performance of UK with profit funds

  • Picture for With Profits Survey
    With Profits Survey

    This is the third investigation Barnett Waddingham has conducted into the investment strategies of UK with-profits funds.

  • Achieving higher returns with lower risk

    We were appointed to advise a client with ~£400m of assets in 2015 and this case study sets out how we worked with the trustees and employer to ultimately reduce risk and increase expected returns while working towards an agreed objective.

  • An out of control deficit

    We provide a regular funding and investment monitoring service to the trustees of a £40m scheme. We were asked to review the funding and investment strategies of the scheme, in particular with a view of reducing the risk of the deficit increasing further.

  • Contingency planning in action

    A client was looking to develop a financial management plan for the scheme, targeting a fully de-risked and liability matched investment strategy and moving on to buy-out. The plan aimed to strike a balance between reducing risk and business needs.

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