Our offshore consultancy practice is dedicated to the actuarial, risk management, product and operational needs of the international insurance industry. Through our Irish office we provide a complete range of actuarial, risk management and life consultancy services for the Single European market.
We provide a range of software systems for life assurance companies, IFAs and other financial institutions.
We work closely with life assurance companies operating from offshore centres such as the Isle of Man, Dublin and Guernsey to provide financial solutions for policyholders in the UK, Europe, Far East, Middle East, Asia and Africa.
Our range of consultancy services includes:
- Capital Management and Risk Management
- Appointed Actuary services
- Start-up Planning and Regulatory Applications
- Merger and Acquisition Work
- Product Design, Analysis & Management
- Reinsurers and Captives
CAPITAL MANAGEMENT AND RISK MANAGEMENT
Development and review of data, models, reports, and governance processes for regulatory and economic capital and ORSA purposes. Assessment and review of capital and liquidity requirements and efficiency.
Training for Boards and management teams on risk-based capital, enterprise risk management, Own Risk and Solvency Assessment etc.
Gap analyses on compliance with governance and risk management requirements.
Provision of outsourced risk function capabilities.
APPOINTED ACTUARY AND ACTUARIAL FUNCTION SERVICES
We can act as appointed actuary for life offices based in the Isle of Man, or provide peer review services to appointed actuaries. Our team includes two qualified actuaries.
We can provide an outsourced actuarial function, full or partial, to insurers.
START-UP PLANNING AND REGULATORY APPLICATIONS
Advice on choice and use of offshore jurisdictions for capital efficiency.
Preparation and/or review of financial projections for start-up operations, both for management and regulatory purposes, including consolidated capital and financial forecasts and stress tests.
Preparation of submission and business plan to regulatory authorities. Ongoing liaison with authorities after granting of approval on all regulatory matters, including periodic regulatory returns.
MERGER AND ACQUISITION WORK
Financial, business and operational evaluation, including due diligence, in connection with the acquisition or sale of offshore life assurance companies, particularly in the Isle of Man and Ireland.
We act as Independent Actuary/Expert in portfolio transfers, or can provide peer review services for such work.
PRODUCT DESIGN, ANALYSIS AND MANAGEMENT
Design of new products to meet agreed objectives and assessment of resulting profitability. Production of detailed product specifications for administration reference purposes. Draft policy wordings.
We have first-hand knowledge of expense loadings, profitability margins and financial experience of the offshore life assurance industry.
LifeBase is our product analysis software system for product providers and intermediaries. An ideal tool for product development, product management, broker marketing and IFA product panel construction.
Advice on all matters relating to financial control, management information requirements and day-to-day management of an international life assurance operation. Advice on reassurance arrangements and providers.
Non-executive director services for Isle of Man reinsurers and captive insurance companies.