THE KINGDOM
OUR STORY IN THE KINGDOM
Lux Actuaries informally started consulting operations in Saudi Arabia in 2005 — one of the first independent actuarial firms to establish a local presence in the Kingdom. We formally incorporated in Bahrain in 2007 to serve the wider GCC, with Saudi Arabia as our primary market from day one.
As of 7 December 2021, Lux is an Insurance Authority registered entity in Saudi Arabia, with a commercial registration with the Saudi Ministry of Commerce. This allows us to operate fully as a locally based actuarial consultancy — resident in Riyadh, not flying in from Dubai or London.
We enjoy a close working relationship with our clients, based on trust, integrity, and professionalism. We believe that a personal and on-the-ground understanding of client needs and concerns is important in developing and sustaining long-term partnerships.
Our local presence means your data stays in jurisdiction, your actuary knows your regulator personally, and your engagement team is a phone call away — not eight time zones away.
GLOBAL PRESENCE
UAE (Dubai, Abu Dhabi), Saudi Arabia, Bahrain, Oman, Kuwait, Jordan
South Africa, Kenya, Egypt, Nigeria
Greece
India
WHY LUX
We have no audit relationship to protect — our actuarial opinion is the only opinion we sell. 21 years of growth, zero acquisitions, zero audit conflicts. Independence is not a feature — it is our trust architecture.
Every actuary working on your engagement is resident in your market — not flown in from London for two weeks. Your data stays in jurisdiction. Your actuary knows your regulator personally, not from a briefing pack.
IFRS 17, IFRS 9, IAS 19, IFRS 2, and IFRS S1/S2 — all under one roof. Five IFRS solution lines, eleven service areas, four dedicated portals. No need for multiple specialist firms.
REGULATORY AUTHORITY
We fulfil local regulatory requirements in every market we operate in, holding formal registrations where required.
Saudi Arabia
Insurance Authority
UAE
CBUAE
Bahrain
CBB
Oman
FSA
Kuwait
IRU
Jordan
CBJ
Egypt
FRA
Kenya
IRA
South Africa
FSCA / PA
Greece
Bank of Greece
CMA Licensed — Capital Markets Authority, UAE (Category 5, Financial Consultations)
OUR PEOPLE
FIA, FASSA, FSA, FCAS, FIAI, FCIA, CERA — named senior actuaries assigned to every engagement, not junior staff rotating through.