Our clients include non-life insurers across the industry, ranging from the niche captives to some of the largest insurance groups in the world. While the team is based in London, we count (re)insurers and captives in both the UK and Europe amongst our clients, with a growing presence in the US. Our aim is to listen and tailor the approach to suit the size of our clients and to ensure solutions are suitable for their risks and issues they face.
Reserving – We have extensive experience in GAAP and IFRS reserve reviews as well as Technical Provisions on a Solvency II basis. For Irish entities, this also includes compliance with the Central Bank of Ireland Domestic Actuarial Regime and Related Governance requirements, which includes producing both the Actuarial Opinion and the Actuarial Report on Technical Provisions.
Solvency Capital Requirement (SCR) – Our significant experience includes supporting clients with their SCR, based on standard formula, 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 SCR with a cost efficient Excel based tool to do this backed with our high level of customer service.
M&A and restructuring – Our services include supporting companies in undertaking actuarial due diligence, whether they are acting as the buyer or seller. In addition, we can also act as an Independent Expert for Part VII transfers.
Own Risk Solvency Assessment (ORSA) – We are experienced in helping non-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 non-life insurers implement their ORSA in a time and cost efficient manner, recognising that one size does not fit all.
Capital management – We can help non-life insurers to understand their capital position. By designing capital models and performing stress and scenario tests, we can help insurers to understand their risks and assist with strategic decision making.
In addition to experience with market leading software, we also have our own ANNalyticaTM software that can help visualise the output of stochastic capital models.
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.
The use of artificial intelligence (AI) within the insurance industry has been widely anticipated for years. Today this anticipation is reality.
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!
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.
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.
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.
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.
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.
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.
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.
In response to continued client demand, we have appointed four specialists to our expanding Insurance Consulting team across both Life and General insurance.
Today, we welcome Dean Hughes, Head of Enterprise Risk Management to lead a successful team of consultants, utilising practical risk-based expertise and business acumen with the quantitative analytical skills of our actuaries.
Nasir Shah joins Barnett Waddingham as an associate and consulting actuary, and will be supporting a range of general insurance companies across a variety of areas.