WHAT WE DO
Insurance Services
Employee Benefits
Financial Advisory
Banking & Financial
ESG & Sustainability
Financial Reporting
Capital, Solvency & Risk
Investment & Asset Management
Corporate Advisory
Data & Technology
Phone:
+971 4 876 8530Email:
[email protected]
Reserving, pricing, product design, reinsurance, and appointed actuary services for life, general, health, and Takaful insurers across the Middle East & Africa.
Discuss your requirementsInsurance actuarial work sits at the centre of every insurer's operations. Reserves are the largest liability on the balance sheet. Pricing determines whether the portfolio makes or loses money. Product design shapes which risks an insurer can write. Reinsurance structures protect solvency against tail events.
Lux provides the full range of insurance actuarial consulting across life, general, health, and Takaful lines. Our actuaries are experienced across multiple jurisdictions and regulatory frameworks in the GCC, Africa, and Europe, and hold professional qualifications from the Institute and Faculty of Actuaries (IFoA), the Society of Actuaries (SoA), and the Actuarial Society of South Africa (ASSA).
We operate as an outsourced actuarial function for insurers who don't maintain large in-house teams, and as a specialist complement for those who do. Our outputs are built for auditor and regulator scrutiny.
Actuarial reserving estimates what an insurer must hold to pay future claims. We perform IBNR estimation, case reserve adequacy reviews, and claims triangle analysis for general insurers, alongside prospective cash-flow projections and gross premium valuations for life portfolios.
Our reserve opinions are used by boards, audit committees, and regulators for statutory reporting and solvency assessment.
Insurance pricing determines the premium an insurer charges for accepting risk. We build GLM rating models for personal lines, burning cost analyses for specialty and large accounts, and profit-testing models for life products.
Our pricing work covers the full cycle: rating factor selection, base rate calculation, expense and reinsurance loadings, competitive benchmarking, and regulatory submissions.
New insurance products require actuarial sign-off on pricing adequacy, capital requirements, and policyholder fairness before regulators will approve them. We design products from concept through to filed policy wordings and pricing schedules.
Reinsurance transfers risk from an insurer to a reinsurer, protecting solvency against catastrophic or correlated losses. We advise on programme structure, retention levels, and placement, and perform the actuarial modelling that underpins reinsurance negotiations.
Insurance regulators in the GCC and Africa require insurers to appoint a qualified actuary responsible for certifying reserves, solvency, and pricing adequacy. Our actuaries serve as appointed actuary for insurers across multiple jurisdictions.
Actuarial underwriting support gives underwriters quantitative tools for risk selection and pricing. We build underwriting guidelines, risk scoring models, and portfolio monitoring dashboards.
Takaful is the Sharia-compliant form of insurance, based on mutual cooperation. Participants contribute to a common fund, and surpluses are shared rather than retained as shareholder profit. Takaful operators face all the same actuarial requirements as conventional insurers, with additional complexity around surplus distribution, Qard Hasan (interest-free loans), and Sharia compliance of investments.
We provide the full range of actuarial services for Takaful operators, adapted to the structural differences of the Takaful model.
Incurred But Not Reported claims represent events that have already occurred but haven't been reported to the insurer. IBNR is typically the largest uncertainty in general insurance reserving and materially affects the balance sheet. Getting it wrong means either overstating or understating liabilities.
A qualified actuary formally appointed to certify an insurer's reserves, solvency position, and pricing adequacy. Most regulators in the GCC and Africa require this role. The appointed actuary reports directly to the board and regulator.
A Generalised Linear Model simultaneously estimates the effect of multiple rating factors (age, geography, vehicle type) on claims frequency and severity. It is the industry standard for personal lines pricing.
Takaful is based on mutual cooperation. Participants contribute to a shared fund, surpluses are distributed back to participants, and investments must be Sharia-compliant. The actuarial techniques are the same, but the financial structure and regulatory requirements differ.
IFRS 17, IFRS 9, IFRS 2, and IAS 19 actuarial implementations, ongoing compliance, and managed reporting services.
Regulatory capital, economic capital modelling, ORSA, stress testing, and risk appetite frameworks for insurers and financial institutions.
IFRS S1 and S2 sustainability disclosures, climate risk modelling, carbon accounting, and ESG integration for insurers and corporates.
Speak with our team about reserving, pricing, product design, reinsurance, or appointed actuary services.
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