Lux Actuaries: Pioneering Actuarial Consulting in Middle East and Africa

Lux Actuaries is recognized as one of the first independent actuarial consulting firms in the Gulf Cooperation Council (GCC). We established our legacy with initial operations in Saudi Arabia in 2006, followed by a formal establishment in Bahrain in 2007. Now headquartered in the UAE, Lux Actuaries has grown to become by far the largest actuarial consulting firm in the Middle East and Africa (MEA).

We are the recognized leader in Actuarial and Asset-Liability Management (ALM) consulting, supporting governments, public organizations, and private companies. Our expertise spans the GCC, the wider MENA region, and the rest of Africa, assisting clients in navigating complex challenges and achieving their strategic goals.

Our Unmatched Expertise

Our strength lies in our team. Lux Actuaries is powered by 25 qualified actuaries (Fellows and Associates) and over 100 support staff. This dedicated team brings a collective 200+ years of qualified, worldwide actuarial experience to the table. This extensive capacity ensures we can confidently handle the most sophisticated and specialized tasks, blending international technical expertise with a nuanced understanding of local and regional market needs.

Core Practice Areas

We provide comprehensive actuarial services across a wide spectrum of industries. Our key practice areas include:

• Life Insurance: Product development, valuation, and financial modeling
• General Insurance: Reserving, pricing, and catastrophic (CAT) modeling
• Health Insurance: Pricing, reserving, and network analysis
• Motor Insurance: Advanced pricing and data analytics
• Social Security: Pension scheme design, funding, and sustainability analysis
• Employee Benefits: Valuation and design of end-of-service benefits and pension plans
• Liability Driven Investment (LDI): Crafting investment strategies to match long-term liabilities
• Banking: Credit risk modeling and financial instrument valuation
• Enterprise Risk Management (ERM): Framework development and implementation
• Data Science: Predictive modeling and advanced analytics.

Specialized Solutions & Services

Beyond traditional consulting, we offer a suite of specialized solutions and managed services designed to address specific regulatory and strategic challenges:

Financial Reporting & Compliance:

• IAS 19: Valuation of Employee Benefits / End-of-Service Benefits (EoSB)
• IFRS 9: Expected Credit Loss (ECL) modeling
• IFRS 2: Share-Based Payments (SBP) valuation
• IFRS 17: Fully managed services and implementation support.

Strategic & Proprietary Tools:

• Outsourced CIO (Chief Investment Officer) services
• Proprietary War Risk Model
• Pythia (Advanced Analytics Platform)
• Core (Proprietary Platform).