Category Archives: News

UAE Regulator Awards Most Distinguished Actuarial Company

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. …

Lux presentation to King Fahad University for Petroleum and Minerals

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, …

Ind AS 19

  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 …

American University of Sharjah: CAA Presentation

On Sunday, 22nd November, Lux presented a talk to the students of the American University of Sharjah (AUS) on the IFoA’s Certified Actuarial Analyst (CAA) qualification. The purpose of the presentation was to create awareness of the CAA qualification, the …

SAMA 2015 Financial Condition Report Requirements

  SAMA – FCR 2015 Circular The Saudi Arabian Monetary Agency distributed the FCR 2015 Circular on 18 September 2015. Key changes in requirements are highlighted below. Most new requirements align with the draft Circular that was circulated earlier in September, albeit with …

UAE Market Stats: A Cloudy Forecast

Strong growth and deteriorating performance are still the backdrop of a market that’s only recently started on a trajectory towards more onerous regulation. The UAE Insurance Authority (IA) recently published its annual report capturing the key market stats for 2014. …