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Barnett Waddingham
0333 11 11 222
These are challenging times for the life, health and general insurance industries. Volatile economic conditions, low interest rates and the demands of Solvency II and the regulator are placing a strain on existing business models and resources, and emphasising the need for robust risk and capital management and insightful investment strategies.

We help clients to navigate these complex issues, delivering clear advice and real-world solutions based on our extensive experience of the insurance sector.

Barnett Waddingham’s services for insurers are built around seven specialist areas:

Providing specialist skills in core actuarial areas including reserved role work, Solvency II calculations, and independent expert work as well as in the developing risk fields of model validation, ORSA and risk and internal audit co-sourcing.  In addition our life and non-life actuarial and risk management teams manage our market leading SIImplify tool which provides those insurers wishing to calculate their own Solvency Capital Requirement with a cost efficient Excel based tool to do this.  

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Providing core actuarial specialisms in reserving, Solvency II calculations and pricing and risk expertise in capital management and model validation. In addition our life and non-life actuarial and risk management teams manage our market leading SIImplify tool which provides those insurers wishing to calculate their own Solvency Capital Requirement with a cost efficient Excel based tool to do this.  

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Our data analytics team use cutting-edge techniques and practical experience to find solutions to business problems for insurers and other corporate entities.  We can provide assistance across the full spectrum of data management, analytics and communication.

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Providing a market-leading range of insurance specific advice on investment issues including manager selection and benchmarking asset allocation advice.  In addition we can provide investment governance support through our outsourced investment function offering.  

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Providing a range of insights and modelling support on mortality, morbidity and longevity risk for insurers through our specialist longevity consulting practice.  In addition we can provide specialist model validation services to insurers looking to validate their longevity model

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The introduction of Solvency II has led to insurers reflecting on their businesses and available capital.  We have seen numerous consolidations, sales and launches of product lines and risk transfers.  Insurers are also investing in improving their customer engagement.

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Providing the specialist knowledge required to run your unit linked business in areas such as unit linked pricing and governance and error rectification.

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We build a bespoke team based on your exact requirements. Our partner-led approach means you will have access to senior knowledgeable consultants who will remain personally involved at all levels of the work.

Our growing client base covers a broad range of life and general insurance companies, from niche insurers to FTSE100 firms and global insurers.

Related knowledge and resources

Blogs

  • Picture for General election announcement – how will pensions fare?
    General election announcement – how will pensions fare?

    Most commentators are suggesting that the election will be dominated by Brexit and the future of the United Kingdom outside the European Union. But there are many other domestic issues that the election campaign will also throw into focus.

  • Picture for Q.R.T? N.S.T? H.E.L.P!
    Q.R.T? N.S.T? H.E.L.P!

    Struggling with the Solvency II quantitative reporting templates (QRTs) and UK National Specific Templates (NSTs)? John Hoskin sets out the information that firms need to consider when completing their submissions.

  • Picture for It’s disclosure Jim, but not as we know it
    It’s disclosure Jim, but not as we know it

    The majority of insurers will soon be publishing their first Solvency and Financial Condition Report (SFCR). We take a look at the SFCR’s published by firms with non-December year-ends and highlight lessons to be learnt.

  • Spotlight on Longevity: Mortality improvements – does one size fit all?

    The CMI Model is calibrated to data for the general population but is typically applied to pensioner or annuitant portfolios. These have different mortality rates and may experience quite different mortality improvements.

  • Buy-outs and buy-ins - Spring 2017

    Final reporting from the insurers for 2016 confirmed a flurry of activity in the last quarter of the year, with a significant amount of transactions completed. This resulted in total business with UK pension schemes of just over £10.2bn for 2016.

  • 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.

  • 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.

  • Picture for With Profits Survey
    With Profits Survey

    This is the second investigation Barnett Waddingham has conducted into the with-profits investment strategies of directive insurers that are full members of the Association of Financial Mutuals.

  • 'Top-Slicing' Medically Underwritten Buy-in

    We jointly advised trustees and company on a medically underwritten pensioner buy-in achieving very significant savings of >10% relative to traditional approach – successfully securing around £25m of the pensioner liability at no additional funding cost.

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