Actuarial

Australian General Insurance license application

PFS advised and project managed an APRA general insurance licence application for the subsidiary of a global travel insurer.

Our work covered all aspects including licensing strategy, pre-application, submission and development of supporting documentation. We maintained project plans, led frequent regular meetings, and coordinated responses to APRA queries. PFS advised extensively on capital requirements, governance, and risk management.

This work necessitated a high level of engagement at senior levels, fostering deep relationships with key contacts as well as many others across the business.

PFS has also been engaged as the Appointed Actuary on an ongoing basis.

Provider of risk products in a complex compulsory class

PFS provide all outsourced actuarial services to a niche specialty-lines risk protection provider. This covers regulatory pricing, valuation, capital and solvency requirements as well as bespoke advice on product design, and the implementation of AASB / IFRS 17 requirements.

Large Australian life insurer

PFS were engaged to provide independent advice to the Board of a large life insurer on areas of operational risk, risk culture, insurance risk and sustainability of insurance products. This involved independent challenge to management’s and the Board’s initial strategies and functional processes together with insights into regulatory and community expectations on product sustainability.

ESL Funding

PFS assist general insurers in estimating their complicated emergency services liability and levy rates. We have designed a tailored financial model and utilise our data analytical skills to work through market dynamics required for the majority of players in the general insurance market. Our work helps these insurers minimise the risk of financial losses and avoid potential reputational damage.