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 the world of
Actuarial Sevices

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.

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

Nov

UAE Announces Pioneering Employee Benefits Scheme for Private Sector Workers

Aimed at enhancing the welfare of workers in the private sector and free zones, the United Arab Emirates (UAE) has unveiled a new end-of-service benefits scheme. This innovative system includes the establishment of savings and investment funds, which will be closely monitored by the UAE Securities and Commodities Authority in collaboration with the Ministry of Human Resources.

Sep

Embracing IFRS 17: Insights from Q2 2023 in the GCC

As we find ourselves at the halfway mark of 2023, the GCC insurance landscape continues its journey toward full compliance with the International Financial Reporting Standard 17 (IFRS 17). Based on the performance of 78 listed insurers, the latest findings paint a picture of both progress and challenges in this evolving regulatory landscape.

Jul

GCC Insurers Embrace IFRS 17: Transition Impact Negligible, but Challenges Linger

Most GCC insurers have successfully adopted IFRS 17 with the transition having a negligible impact on the overall equity in the industry, although there are variations at an entity level. However, key challenges remain, with solvency deficits emerging as a prominent concern, leading to credit rating downgrades and the need for remedial plans.