Our accredited actuaries and professionals that form the KPMG actuarial team in Bermuda have a long history of helping our clients with their important issues. Our team consists of experienced team members, including six fully qualified Bermuda-based actuaries. We provide consulting services to commercial life and non-life (re) insurers, Insurance-Linked Securities (ILS) providers, captives, agents and brokers. Our team’s experience covers a wide range of actuarial fields, including the traditional areas of pricing, reserving, capital modeling and risk management.
More specifically, our experience includes:
- Actuarial reserving and financial reporting under IFRS, GAAP and statutory accounting bases
- Actuarial reserving for the Bermuda Economic Balance sheet, including risk margin calculations and applying the Scenario-Based Approach
- Loss Reserve Specialist Opinions (LRSO) and Approved Actuary Opinions (AO)
- Independent Actuarial reviews for Section 25 Portfolio transfers
- Accounting change (IFRS 17 and US GAAP LDTI) implementation support
- Mergers & acquisitions and litigation support, including reserve assessments
- Buy and sell side transaction support including deal pricing, opinions on reserve adequacy and risk transfer testing
- Capital management, modelling, and optimization, including Bermuda Solvency Capital Requirement (BSCR) support
- Actuarial modelling for new insurer formations (pricing, reserving and capital modelling)
We also provide services specific to ILS fund managers and captives:
ILS including cat bonds
- Acting as an independent valuation agent for several ILS funds monthly valuation of net asset value (NAV)
- Acting as an independent valuation agent reviewer for several ILS funds
- Valuation rationalization and providing challenge to a security’s net asset value provided by a sponsoring reinsurer or broker
- Development of models to preform stress and scenario testing to estimate stressed/ buffered losses and help validate pricing
- Consulting and due diligence for prospective ILS investors
- Loss Reserve Specialist Opinions (LRSO) and assurance reviews for cat bonds
- Review and validation of proprietary catastrophe modelling results
Captives
- Feasibility studies for new captive formations
- Captive programme optimisation, including assessment of pricing, reserving and strategy
Please reach out to learn how we can help you.
