Blog and News

Lux Actuaries & Consultants is proud to be re-awarded as the 2018 “Most Distinguished Actuarial Services Company” by the UAE Insurance Authority at the recent UAE National Day celebrations in Abu Dhabi. Lux was previously awarded this title in 2017. …

Adoption of Ind AS 19 has become mandatory, from 1 April 2016, for all companies having net-worth of INR 500 crores or more. The holding, subsidiary, joint-venture or associate companies (‘affiliates’) of such companies captured by this new requirement also …

Overview of the Region With the launch of International Financial Reporting Standard no 17 (“IFRS 17”) by the IASB in 2017, there has been a sense of urgency from regulatory bodies globally towards feasible adoption approaches. One of the main …

Experience is Key Lux is a key partner to more than 20 companies in various EU jurisdictions in assisting in the implementation of Solvency II  and ERM in an efficient and value adding manner. Our involvement spans all three pillars …

Range of Employee Benefits Schemes (EOSB / Ex Gratia / LTIP) One of our KSA investment banking clients wished to consider introducing a Long-term Incentive Plan (“LTIP”) for their C-Suite employees. We proposed carrying out a due diligence exercise to …

Quota Share optimisation for Solvency purposes A company, under capital strain due to fast premium growth, asked us to consider what proportion of their motor portfolio should be ceded to minimise risk of falling below capital requirements, while still retaining …

Moral hazard for 2-year product? One of our existing clients for whom we work on quarterly reserving requested us to conduct a monitoring and product development exercise on their Motor portfolio. We spent considerable time in the data extraction stage …

Diabetes Management Program We took on a new client seeking to implement a chronic disease management program in the region, starting with the UAE. We were tasked with analysing the internal data available to identify eligible members for the program …

By Rakan Muawad, Actuarial Analyst, UAE Download the presentation pdf here The demand for actuarial students has increased significantly in the GCC, especially in Saudi Arabia. SAMA (Saudi Arabian Monetary Agency), the authority that regulates insurance operations in the KSA, …