Appointed Actuary

We offer advice and assistance to a company’s appointed actuary, are able to perform most or all actuarial work for companies with little or no actuarial staff, or can provide more of an auditing role for companies with an in-house qualified actuary. Our actuarial services include:

  • Statutory valuation and solvency calculation
  • Dynamic Solvency Testing
  • Financial Condition Reporting
  • Risk Based Capital (RBC) analysis
  • Incurred but Not Reported (IBNR) calculation
  • Embedded Value Calculation
  • Asset shares/surplus sharing strategy
  • Product development/pricing/profit testing
  • Business planning/projections
  • Investment strategy

Actuarial Peer Review

We also review the actuarial tasks and reports performed by client’s in-house actuarial department or the company’s appointed actuary in discharging his or her responsibility, which may be a necessary regulatory requirement or as part of a regular audit process.


We perform the calculation of the Incurred but not Reported (IBNR) provision for a wide range of general Takaful products and for medical/health and term products for family Takaful products. This calculation can be done for statutory purposes as well as for management reporting. We also review or perform parallel calculations as an audit of the company’s internal calculation or as a second opinion if requested by the regulators or shareholders. As part of a long term relationship with a client, we also assist the company in building internal expertise to estimate IBNR on a quarterly basis.

Contribution Rating

In a tariff driven market the need for contribution rating may not be obvious. However, only by knowing in which lines or subsets of business the rate which should be charged by the operator is less that the tariff rate will the operator be able to focus marketing attention. Conversely, where the tariff rate is lower than the rate determined by contribution rating this business should be reviewed carefully for ways to bring the rates in line with experience.