Actuarial Services and Financial Statement Support | KPMG | GR

Actuarial Services and Financial Statement Support

Actuarial Services and Financial Statement Support

KPMG can assist insurance companies to manage risks

KPMG can assist insurance companies to manage risks

KPMG in Greece can provide Actuarial Services and Financial Statement Support to both insurers and self-insurers, in an effort to assist them in managing risks. Our experienced professionals use financial modeling techniques to help quantify risk within a business, evaluate alternatives for managing that risk, and measure the effectiveness of the selected risk strategy.

Actuarial Services and Financial Statement Support includes the following:

Financial Statement Support Services
KPMG can support the rendering of opinions on Financial Statements prepared under International, US GAAP, or local statutory requirements. Our actuarial professionals work closely with their accounting counterparts to critically evaluate relevant accounting guidance and help clients translate their financial results accurately within the chosen accounting environment. Where required, statements of actuarial opinion are provided, in accordance with regulatory requirements and actuarial standards of practice.

Actuarial Systems and Controls Assurance
KPMG's advisers, most of them actuarial professionals, can help clients manage their financial risks by performing function reviews such as contract pricing, reserve calculation, preparation of forecasts and projections, mandatory contract disclosures, etc. Our actuaries may review the specification and implementation of calculation tools (including spreadsheets and industry-specific modeling tools). Reviews may be carried out at the behest of client or supervisor.

Independent Actuarial Opinion / Testimony
As in the case of financial statement support, we can provide actuarial “expert” opinion or testimony in accordance with regulatory requirements and actuarial and other standards of practice.

Portfolio Valuation - Advice and Review
KPMG's professionals can offer advice in relation to the range of plausible actuarial assumptions and sensitivities of value to choice of assumption and they can review calculations either fully, or in part. This service is commonly provided in relation to insurance business, variously as part of merger and acquisition support, company restructurings, and otherwise.

Modeling
In many cases, modeling of complex life and property and casualty insurance liabilities is often required in relation to the foregoing, as well as in its own right. KPMG in Greece employs experienced professionals, who can help implement models that can be used for a wide range of purposes, including determination of economic capital requirements, asset-liability matching, and strategy formulation.
 

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