Category Archives: Project

IFRS 17 project

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 …

Solvency II, ERM

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 …

IAS 19 & Employee Benefits projects

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 …

Financial Condition Reporting project

Change for the better Lux started working with this UAE based insurer early 2017, when major changes to the Company began. At the time Lux became the Appointed Actuary, the client was effectively insolvent, the business was performing poorly, and …

Quota Share optimisation project

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 …

Reserving project

Boardroom Battle We performed reserving for all lines of business for a UAE based insurer as per the requirement of the Insurance Authority (“IA”). The report is not a requirement for reserving unless it is a year-end exercise, but as …

Life Pricing project

We got ’em all Term In/Assurance (Limited, Single, Regular Pay), Unit Linked, Universal Life, Endowment Assurance – you name it and you get it! Lux Actuaries prices all types of Life Insurance. We recently performed Life Pricing for one of …

Motor Pricing Project

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 …

Health Pricing Project

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 …