Our actuarial team consists of experienced licensed actuaries who have gained qualifications in Poland and abroad
Experienced licensed actuaries who have gained qualifications in Poland and abroad
Our actuarial team consists of experienced licensed actuaries who have gained qualifications in Poland and abroad. The group provides services mainly in the following areas: support of actuarial elements of financial reporting, Solvency II projects, product management, portfolio valuation, risk and capital management.
Services related to financial reporting contain: valuation and review of the technical provisions and deferred acquisition costs valuations (according to PAS, IFRS, US-GAAP), classification of products according to IFRS 4 and an reviews of claim provisions. The team also supports the implementation of the process of regular analysis of financial results, among others, through the construction and analysis of source of profit analysis and reconciliations of technical provisions.
Actuarial services related to Solvency II cover: implementation of the Solvency II requirements, gap analysis to adapt to the requirements of the new regulation, a review of existing changes prepared for Solvency II copliance; ORSA support, processes, documentation development and support for the implementation of IT systems to ensure effective reporting compliant to the new regime (Pillar III), validation of internal models and training of Solvency II.
Services related to products management include, among others: creation and revision of product strategy, performing and reviewing profitability tests, conducting and reviewing valuations of products, review of the product development process, implementation of the pricing systems, preparation of market analysis and benchmarks.
Services related to the valuation of the portfolio consist of: review and calculation of the current portfolio (MCEV, EEV) and new sales (VNB) values, the creation and review of models for the valuation of the portfolio. Risk and capital management covers a wide range of services, including asset and liability management, capital allocation, calculation and review of the valuation of the economic capital, stress testing and scenario analysis.
For 15 years, KPMG’s Global Audit Committee Institute has been providing audit committees and board members in different countries practical insight, resources and peer exchange opportunities focused on strengthening oversight of financial reporting and audit quality, and the array of challenges facing boards and businesses today.
Corporate boards are deepening their involvement in company strategy and refining their oversight of the critical risks facing the company, according to a recent global survey from KPMG.
The two most powerful influences on financial services have been the regulatory environment and innovation.