11th Jan 2022, By Rakan Muawad
We are proud to formally announce that, as of 7 December 2021, Lux Actuaries & Consultants is officially registered by the Saudi Central Bank (SAMA). This is over and above having a commercial registration with the Saudi Ministry of Commerce and allows us to operate fully as a locally based actuarial consultancy. Lux Actuaries & Consultants is now reflected as a registered entity on SAMA’s website.
Lux Actuaries was originally founded in Saudi Arabia in 2006 and was moved to Bahrain in 2008. We are proud to return to the KSA market as a registered entity almost 13 years later. We have a furnished office in Riyadh and will be investing further to ensure it is fully equipped to meet our internal standards as well as those of the relevant regulatory bodies.
Our journey to register (or re-register) in KSA started in 2017 and survived multiple regulatory requirement changes. We are grateful for the hard work that many of our team members have put into this initiative in the face of many difficulties and unexpected challenges. We are also grateful to the KSA Ministry of Investment, Ministry of Commerce and SAMA for finally supporting our goal of having a locally based and staffed office.
We are looking forward to growing our base in the Kingdom as we start a new chapter of our brand’s growth.
Thanks once again to those involved for their efforts in bringing this vision to fruition.
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