Life Insurance Consulting
Meet our Life Insurance Team

Jayesh Bhana
COO & Director

Jayesh Bhana
COO & Director
ayesh Bhana is an Actuary and Risk Management professional with a broad and diverse background in the financial services sectors across both banking and insurance in Australia and South Africa. He has worked across a range of critical areas, with deep expertise in financial modelling, reserving, capital management, risk management, pricing, and product development, particularly within the life and general insurance industries. His consulting experience spans both technical actuarial functions and strategic business challenges, enabling him to advise on comprehensive solutions tailored to industry needs.
In addition to traditional actuarial roles, he is also a specialist in emerging and non-traditional areas such as climate-related financial disclosures, risk governance frameworks, and actuarial and finance transformations. He has led initiatives on claim remediations, business process improvements, and regulatory compliance, ensuring that businesses not only meet their current obligations but are positioned to thrive in a rapidly evolving risk landscape. His breadth of experience enables him to drive strategic outcomes for organisations looking to strengthen their resilience, efficiency, and compliance with new reporting standards and governance expectations.
Speak to Jayesh about modelling, valuations, implementation of actuarial processes, cricket, soccer and ultra-marathon running.
- Phone:(02) 9225 6100
- Email:jayeshbhana@pfsconsulting.com.au

Bozenna Hinton
Principal

Bozenna Hinton
Principal
Bozenna is a commercial and market-focused actuary, with expertise in product development, underwriting, pricing, claims, retention, portfolio management and risk, particularly in the life insurance market. She delivers results through analysing, monitoring and reporting on all aspects of the value chain. She works collaboratively with stakeholders to drive change and optimise results.
She has previously worked at major life insurers and reinsurers, has been President of the Institute of Actuaries of Australia and is currently President-Elect of the International Actuarial Association.
Speak to Bozenna about anything to do with actuarial and insurance matters, corporate governance, travel or running.
- Phone:(02) 9225 6100
- Email:bozennahinton@pfsconsulting.com.au

Thinus van der Merwe
Senior Consultant

Thinus van der Merwe
Senior Consultant
Thinus is an actuary with experience in the African and Australian markets.
He has experience in life insurance, health insurance and technology implementation.
Speak to Thinus about financial modelling, pricing, implementing solutions and optimising processes.
- Phone:(02) 9225 6100
- Email:thinusvandermerwe@pfsconsulting.com.au

Ian Laughlin
Principal

Ian Laughlin
Principal
Ian has had a long career in financial services senior management and board roles, in Australia, the UK, New Zealand and Hong Kong.
He was Managing Director of Pearl, London Life and NPI in the UK, at a time of major upheaval. Until recently, he chaired the boards of OnePath Life, and OnePath General Insurance. Prior to mid 2015, he was Deputy Chairman of APRA, the prudential regulator of banks, insurance companies and superannuation funds.
He has a deep interest in risk management and risk culture. In recent years, he has had a particular interest in the impact of social attitudes and norms on risks for financial services businesses.
- Phone:(02) 9225 6100
- Email:ianlaughlin@pfsconsulting.com.au

Fred Rowley
Principal

Fred Rowley
Principal
Fred Rowley is a senior actuary and an experienced financial and general manager with over 40 years’ experience in the life insurance industry in Australia and the UK. He advises companies, boards, and insurance regulators on financial reporting; embedded values; capital and risk management; corporate reconstructions; demutualisation; M&A transactions; product development; corporate planning and strategy
Fred has held a number of senior roles in the industry, including Chief Corporate Actuary of AMP where he managed the actuarial aspects of the AMP demutualisation, and Chief Actuary and Appointed Actuary of TAL Life Ltd. He is a past President of the Actuaries’ Institute (Australia), has received the Actuary of the Year award in recognition of his contribution to the profession, and was President of the International Actuarial Association in 2015, giving him an extensive global network.
- Phone:(02) 9225 6100
- Email:fredrowley@pfsconsulting.com.au

David Rush
Principal

David Rush
Principal
David is an actuary with over 30 years’ experience. Before joining PFS he was with a big four accounting firm, and prior to that with APRA in various senior executive roles, including involvement with international regulators.
He has detailed knowledge of the new Insurance Accounting regime (IFRS 17 and the associated AASB 17) and its implications for all types of business. As a member of the Australian Transition Resource Group for AASB 17, and of the relevant actuarial taskforce, David is deeply involved with the development, interpretation and implementation of the new standard. He has also advised regulatory authorities in a number of jurisdictions on a range of supervisory matters.
Talk to David about the new Insurance Accounting standard, prudential regulation, retirement incomes, and the history of musicals.
- Phone:(02) 9225 6100
- Email:davidrush@pfsconsulting.com.au
Working with Life Insurers
Examples of where we've bought our core strengths to help our clients are provided in the case studies below.
- Case Study 1
- Case Study 2
- Case Study 3
- Case Study 4
Large life insurer
Group Life Insurer engaged PFS to conduct an independent assessment of operational risk with respect to a major superannuation fund partner. This incorporated in-depth analysis followed by recommendations to enhance existing operational controls and to better leverage data for further business benefit. by recommendations to enhance existing operational controls and to better leverage data for further business benefit.
Large reinsurance group
Major insurance player utilised the market advisory services of PFS to assist in the divestment of a life insurance asset. This included advice in relation to market assessment, deal structuring and negotiation.
Integration of purchased life insurer
PFS have project managed the integration of a small Australian life insurer purchased by another APRA-licensed life insurer. We combined our expertise across local regulatory requirements, actuarial valuation and insurance knowledge, risk management, capital, audit and governance to help manage the integration and licensing requirements.
Due Diligence
PFS have project managed the integration of a small Australian life insurer purchased by another APRA-licensed life insurer. We combined our expertise across local regulatory requirements, actuarial valuation and insurance knowledge, risk management, capital, audit and governance to help manage the integration and licensing requirements.
Contact us for more detailed information about our capabilities
Core Strengths
We have extensive Retail and Group Life insurance knowledge built from years of experience and are independent of insurance product providers.
- Insurance product knowledge
- Underwriting guidelines
- Australian regulatory requirements
- Appointed actuary
- Liability valuation
- Capital requirements
- Reinsurance and speciality lines expertise
- Insurance market strategy
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