Niall Kilroy

Director, Financial Risk Management

KPMG in Bermuda

Niall is a Director and a senior actuary in our Financial Risk Management and Actuarial practice in Bermuda, and has over 13 years of experience in the insurance industry. He recently joined the Financial Risk Management team at KPMG in Bermuda, having worked with the Actuarial and Risk Modelling Services team in another Big 4 firm in Ireland for the past number of years. Niall has led various actuarial and risk management projects for multiple (re)insurers, both domestic and international, as well as government agencies in his career. Having worked in the insurance industry, as well as with professional services firms, he has extensive experience and a deep knowledge across various functions, such as risk, reserving, capital modelling, pricing, claims, and finance. He also has significant international working experience, having worked in Ireland and Bermuda, and extensive knowledge of the Solvency II regulatory framework from his previous roles.

Professional and Industry Experience

  • Managed reviews of risk management functions and frameworks, including risk framework and policies, governance, risk registers, ORSA processes, risk monitoring, risk reporting, and review of the Risk Appetite Statement and supporting tolerances.
  • Supported (re)insurers in correspondences with the Irish regulator (CBI), including stress testing, model support, and governance reviews. In addition, Niall has carried out risk transfer analysis, including stochastic cash flow modelling for (re)insurers, both as part of transaction due diligence and audit support.
  • Led a variety of Solvency II projects across standard formula assessments, Own Risk and Solvency Assessment (ORSA) development, including review of ORSA policies and reports, and providing quantitative input to the ORSA process.
  • Managed a portfolio of audit clients, providing specialist actuarial support across a range of insurance and reinsurance clients through various accounting (FRS/IFRS) and regulatory (Solvency II) standards. He has acted as actuarial specialist to many High Impact and Medium High Impact audit clients, as well as multiple captive clients.
  • Assisted in independent reserve reviews for a portfolio of reserve review clients and performed reserve reviews on the technical provisions for insurance and reinsurance clients.
  • Directed the Asset-Liability modelling process and was a sitting member of an insurer's Investment Committee, as well as leading out the reinsurance strategy for an insurer.
  • Led the territory's actuarial IFRS 17 process for another Big 4 firm as part of the firm's network for the transition and implementation of the global IFRS 17 reporting standard.
  • Provided training to boards and management of various (re)insurers on risk concepts, such as the Solvency II regulatory framework.
  • Experienced in other areas, such as pricing and underwriting functions, having worked in these areas at the outset of his career.
  • Prior to joining KPMG in Bermuda, Niall worked for the Risk Modelling Services team at another Big 4 firm in Ireland. Niall started his career with Vhi, the largest domestic non-life insurer in Ireland, where he held various roles and held a controlled function role under the Central Bank of Ireland's Fitness & Probity Regime.
  • Niall is a qualified actuary, having qualified through the Institute and Faculty of Actuaries (IFoA), and is a Fellow of the Society of Actuaries in Ireland (FSAI).

  • Fellow of the Society of Actuaries, Ireland

  • Certificate in Ethical Artificial Intelligence (AI), The Chartered Institute for Securities & Investment (CISI)

  • Bachelor of Actuarial and Financial Studies, University College Dublin