Actuarial Services

KPMG in Malta offers actuarial services across the life, non-life and reinsurance industry within Malta.

We assist clients with both local business and with international business and aim to provide clear and independent actuarial advice.

Our dedicated Insurance team works across a number of areas, including regulatory, risk management, advisory and accounting in providing services to the market.

Our Actuarial service combines technical knowledge and solid processes with market experience to provide high quality and modern advice for both existing and new clients.

We are also involved in industry bodies and take part in pursuing and investigating regulatory issues affecting the industry at large.

As part of the new licencing application process, we support our regulatory colleagues in advising insurance companies, including captives, on their new business application process with the Malta Financial Services Authority (MFSA) and advising potential new entrants who are interested in setting up a new entity or relocating to Malta.

There are a number of advantages with setting up a company in Malta, including the possibility to use Malta’s Protected Cell Company (PCC) model. More information available here.

Our actuaries have actuarial modelling experience across a range of different programs and our services include:

• Model development and support
• Peer review of models
  
• Support on stochastic models
• Actuarial model efficiency reviews
• Outsourcing of actuarial models
• Actuarial Expertise and Involvement with respect to IFRS 17-consistent valuations

Senior actuaries in our team may act in outsourced actuarial roles, which include:

• Approved Actuary
• Actuarial Function Holder
• Appointed Actuary

Our Actuarial team has and continues to support companies in different areas including year-end financial reporting, actuarial model development support, Solvency II support (see also below) and improvement of business processes.

We support our Internal Audit Services practice in providing services to the local insurance sector. Our support focuses on actuarial related items, including:

• Matters around Solvency
• Technical review of reserving process 

We are often involved in transaction activities and our firm’s services include:

• Advising and assisting insurance companies on the buy or the sell side.
• Advising shareholders on the sale of insurance companies.