WELCOME TO LUX

Complete range of Actuarial Services

Interested in learning more about our services? Our executives take the time to discuss about your business's background and needs in order to help you reach the right decisions for the financial wellbeing of your organisation.

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ACTUARIAL
SERVICES

ABOUT US

Explore our world of
Actuarial Services

Lux Actuaries & Consultants is an independent actuarial consultancy with offices in Bahrain, Egypt, Greece, India, Kenya, Kuwait, Nigeria, Saudi Arabia, Sierra Leone, South Africa and the UAE (both Abu Dhabi and Dubai). Our local presence in multiple locations allows us to provide pragmatic solutions that always take account of the local market and the needs of our clients, unconstrained by any overriding corporate policy. We enjoy a close working relationship with our clients based on trust, integrity and professionalism, as we strive to provide the highest levels of service.

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PRACTICE AREAS

What we can
do for you

Life Insurance

Lux is the appointed Actuary to a number of leading Insurance Companies, with services including the review of statutory figures prepared by the internal actuarial department and/or appointed actuaries.

General Insurance

Our aim is to excel in the three key areas listed below when considering insurance business, during our Process to Profitability (P2P) - Accurate Pricing, Informed Underwriting, Capable Claims Management.

Health Insurance

From pricing reports and medical provider network banding to
healthcare data analytics, our
Actuaries offer a suite of services across the health insurance spectrum tailored to meet the individual client requirement.

Banking

With our banking services our clients enjoy the following outcomes; increased revenue, increased staff and/or systems efficiency and effectiveness, reduced cost(s) and/or improved predictability of budgeted outcomes.

Employee Benefits

Lux performs actuarial valuations of employee benefits, in accordance with International Financial Reporting Standards, including IAS 19 and US GAAP, for many clients. Our reports are easy for accountants and auditors to use and implement.

Data Science

Data Science is an integral part of our business. We handle a very high amount of data daily and we have managed to automate our processes in order create accuracy and efficiency.

Enterprise Risk management

We work closely with the main stakeholders to develop and implement successful ERM frameworks, within a considered Corporate Governance and Internal Control environment.

Social Security

We conduct extensive research into short-term and long-term demographic and economic trends, analysis of experience in mortality and morbidity rates, and prepare reports on the financial aspects of the Social Security System.

Asset Management Consulting

Optimize and manage financial resources and investments and cash flow to match liabilities.

Resources

Some useful
information

NEWS

Recent blog posts

Feb

The Growing Importance of Actuarial Expertise in Climate Risk and Financial Strategy

The year 2024 was a stark reminder of the escalating climate crisis, with records broken across the board. We experienced the hottest year in recorded history , the highest concentrations of greenhouse gases, and the highest ocean heat content. Furthermore, there was record-low extent of Antarctic sea ice and unprecedented levels of glacier retreat. These weren't just abstract statistics; they translated into significant real-world impacts, including major storms, severe flooding, heatwaves, wildfires and droughts. These events are having cascading effects, negatively impacting food security, forcing population displacement, causing infrastructure damage, and resulting in substantial insurance losses.

Jan

Challenges and Opportunities - An Appointed Actuary's Perspective

Throughout 2024 the region has experienced several challenges and opportunities across an increasingly broad range of interrelated subjects. From an Appointed Actuary’s perspective, capital adequacy has emerged as the most frequently discussed topic.

Nov

GCC Insurance Market Q3 2024: Key Trends, Challenges, and Opportunities

Amid challenging underwriting conditions and ongoing market consolidation, the GCC insurance sector continued to adapt and evolve in the third quarter of 2024. While profit growth slowed due to weaker underwriting performance, rising investment income and higher insurance revenue offered a measure of stability to listed insurers across the region. In this blog, we explore the key developments shaping the GCC insurance landscape in Q3 2024. Drawing insights from the latest GCC Performance Periodical by Insurance Monitor and Lux Actuaries & Consultants, we delve into regional highlights, industry challenges, and the strategic initiatives reshaping the sector’s trajectory.