Assessing and managing risk in today’s changing market demands in-depth actuarial knowledge and expertise. The use of capital models improve risk management and increase the efficiency of capital. Maintaining accurate estimates of your liabilities can inform your business planning and pricing processes.
An efficient and expert solution
Insurance regulation requires underwriting businesses to have an Actuarial Function which is responsible for overseeing reserving, supplying opinions on underwriting and reinsurance activities and providing input to risk management.
All syndicates operating at Lloyd’s are also required to have a capital model that complies with both Lloyd’s and Solvency II requirements.
Tailored to your business
The Asta Actuarial team can provide a range of solutions from oversight only through to full actuarial support in all areas. Our wide experience and economies of scale enable us to minimise costs and provide a highly responsive service tailored to your needs. However we support you, we will openly share and transfer knowledge with you so that the necessary skills can be developed to manage your own function when the time is right for you.
A key area of support focuses on developing and implementing the right capital model for your business. This can be a complex and time-consuming process but our team will work with you to develop the right model that not only matches your business profile, but also meets all Lloyd’s and regulatory requirements.
A flexible range of services
The Asta team offers a comprehensive range of actuarial services and solutions to support your business including:
- Design and implementation
- Embedding and use of the model Strategic modelling applications
- Model validation and reporting
- Quarterly assessment and calculation of reserving position or independent review and oversight of in-house reserving
- Calculation of Solvency II technical provisions
- Development of bespoke in-house pricing tools that support your rating, capital modelling, outwards reinsurance and reserving processes.
Actuarial Function Report (AFR):
- Production of AFR to regulatory standards
- Provision of actuarial opinion on reserving
- Provision of actuarial opinion on underwriting and reinsurance strategy
Let Asta take care of your Actuarial needs and work with you on building a successful business.