Welcome to Lux Actuaries & Consultants

25-02-2010; Lux confirmed two new clients this past week. We are elated and confirms our locally based service approach.

24-02-2010; We now have premises in Dubai, from where to service UAE clients. Please see the Contact Us page.

31-01-2010; Shivash Bhagaloo qualifies as a Fellow of the Institute of Actuaries (FIA). Congratulations Shivash!

04-01-2010; Gautham Subramanian joins Lux as an actuarial student. Lux looks forward to his contribution to Lux and the Middle Eastern actuarial market.

04-05-2009; Hamed Abdulla joins Lux Actuaries. He has years of experience with general insurance companies and is making good progress with the actuarial exams.

28-01-2009; The process for the name change from DMVR Actuaries & Consultants to Lux Actuaries & Consultants is expected to be complete in 2 to 4 weeks. The Bahrain Investor's Centre has approved the Lux name and public notification is now taking place.

30-11-2008; Ruan van Rensburg's purchase of Mousa Al-Rubaian's share in DMVR is finalised. Ruan is now the owner of DMVR Actuaries & Consultants WLL in Bahrain.

01-06-2008; Ruan van Rensburg agrees to purchase Mousa Al-Rubaian's share of DMVR.

19-05-2007; 7 companies start the 10-day IPO process on 19 May; they are Sanad for Cooperative Insurance Company, Saudi Arabian Cooperative Insurance Company, Saudi Indian Cooperative Insurance Company, Gulf Union Cooperative Insurance Company, Al Ahli Takaful and Al Ahlia Cooperative Insurance and Allied Cooperative Insurance Group. This will take the total number of listed insurance companies to 15, including NCCI.

24-04-2007; Malath Insurance Company receives its Commercial Registration number. Congratulations!

17-03-2007; Arabian Shield, Saudi Fransi (InSaudi), SABB Takaful (HSBC), Saudi United (Wala'a) and Saudi IAIC start their 10-day IPO process, as a batch of companies.

17-02-2007; Medgulf starts its 10-day IPO process

03-02-2007; Malath starts its 10-day IPO process

02-12-2006; DMVR is licensed by SAMA! Congratulations to the other intermediaries and advisors licensed. Saudi Arabia's first reinsurer, Saudi Re, is licensed. See the SAMA website for more information (Arabic only).

14-11-2005; The Kingdom of Saudi Arabia joins the WTO. This is finalised in December 2005.

11-04-2005; A Royal Decree allows insurance and broking companies 3 years to wind up their business in the KSA. This gives breathing space to many, but it may also mean that many of those not applying for licenses will operate for longer than if they were forced to obtain licenses. Is this good for the industry?

17-01-2005; NCCI flotation takes place with coverage at 11.54 times, a very succesful IPO and the culmination of DMVR President Mousa Al-Rubaian's work as CEO of NCCI. Mousa leaves NCCI in March 2005.