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.