Actuarial
Recognize and control your financial risks In terms of sound business operations, it is essential that financial risks are identified and controlled. Supervision and financial reporting rules are subject to continuous change, which is more than enough reason to even better identify and control the financial and operational risks affecting your financial instruments, insurance products, pension plans and investments. After all, what and how do you choose from the wide range of financial instruments, measuring methods, processes and procedures offered?
To achieve competitive advantage, companies need to understand the sources of value and key financial drivers, maximise the efficiency of capital allocation and risk, and identify and manage exposure to risk.
Ernst & Young Actuarial Services can help you make a well-considered decision. We help pension funds, insurers, banks and asset managers, other companies and large shareholders solve actuarial and financial issues in the fields of financial risk management and employee benefits. By partnering with other practices across Ernst & Young, we aim to provide truly integrated services across all disciplines in the Insurance and Financial Services industries. Through our deep knowledge of the global insurance industry, local regulatory expertise and our understanding of the industry, we have built a strong reputation as a leading actuarial and insurance advisor.
Asset Management
We support insurance companies with the management of their assets. From an actuarial perspective, the focus of this advice is on asset valuation methodologies, asset-liability modeling techniques and the tools needed in the ALM field (such as ESG's and replicating portfolio generators)
Capital & Risk
We advise our insurance clients on emerging quantitative risk and capital management techniques, and help them to design and implement Enterprise Risk Management frameworks. These techniques are needed for internal management reporting, meeting regulatory requirements such as Solvency II, and rating agency and external disclosure purposes.
Financial Reporting
We help our insurance clients in understanding and implementing new financial reporting requirements (including IFRS and Embedded Values), in close partnership with our accounting advisory and audit teams.
Growth
We advise our insurance clients on strategies for enhancement of new business profit, either through improved margin or premium growth. This includes advice on improvements to the pricing and underwriting processes, as well as strategies for organic growth through product innovation or entry into new markets.
Reserving & Audit
We advise our insurance clients on reserving issues, with a focus on technical provisions. This includes providing assurance on a number of additional disclosures such as embedded values, as well as providing external actuarial peer review or regulatory actuarial certification.
Transactions
We provide actuarial advice and valuation services for insurance transactions, including M&A's (buy and sell side), capital restructuring, demutualization and post-merger integration. We have provide advice to insurance clients on the purchase of P&C run-off companies and defined benefit pension schemes.
Transformation
We develop and implement strategies for improving the effectiveness of the back-office actuarial functions, through process redesign, outsourcing and shared services. We support the transformation of accounting systems and processes in partnership with our accounting advisory teams.
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