Actuaries make certainty out of uncertainty. This involves placing an immediate value on likely cash flows of not necessarily defined amounts which are likely to arise in the future.
Instances where such problems can occur are:
- Pensions
- Insurance
- Investments including property
- Assessment of settled interests under Trusts etc
- Damages
- General assessment of capital values
PINNACLE Consulting firm produces imaginative and clear analytic solutions to these problems, reflecting the firms actuarial and multi-disciplinary skills. We are able to provide fresh assessments of problems, which arise in many different contexts in a unique manner, applying core actuarial reasoning and a very high general knowledge to a variety of problems.
Employees Benefits
We have a strong background in valuation of end of service benefits schemes with a wide number of customers. our team of expert’s staff understands client’s requirements and has a strong grip of local and accounting regulations relating to employee benefits
Insurance Companies
For many years we have provided the full suite of actuarial services to insurance companies, from statutory requirements, reserving studies, product development,pricing & profitability analysis, reinsurance optimization, and rating services
The life insurance landscape faces increasing regulation and compliance. Insurers are also confronted with limited growth opportunities for traditional offerings and increased competition from local and global players entering the market with non-traditional business models and offerings.
The general insurance landscape is particularly affected by endemic irrational competition, while still being subject to other challenges affecting the rest of the insurance industry. There are additional sector-specific challenges such as market criticality.
Pension & Provident Funds
We service pension and provident fund clients within the GCC, MEAN, and East Africa, offering services that range from standard actuarial valuations,strategic advice on fund sustainability and survival, investment advisory services, as well as long-term Pension Administration projects.
IFRS 17
With the launch of International Financial Reporting Standard, no 17 (“IFRS 17”) bythe IASB in 2017, there has been a sense of urgency from regulatory bodies globally towards feasible adoption approaches. It is the new accounting regulation Issued by the IASB that is applicable to insurance companies. The standard will fundamentally change the financial reporting for insurers. We hold unique position in implementation of IFRS 17, with prior experience in implementation of IFRS 17 and Solvency II in the International Market.
IFRS 9
It introduces an Expected Credit Loss (ECL)model for recognition and measurement of impairment losses of financial assets.ECL calculations are complex and require a strong financial modeling expertise.Our experience across multiple jurisdictions ensures that we provide you within-depth results. Under the new standard, entities must allow for future losses, even if no loss event has yet occurred. This involves calculating an unbiased, probability-weighted estimate of expected credit losses under a range of scenarios while incorporating reasonable and supportable information on past events as well as current and future macroeconomic conditions. A simplified approach is used for certain assets including trade receivables where there is no significant financing component.
We help you with:
- calculating provisions for expected credit losses (under general and simplified approach)
- development of models used for estimating ECL (PD, LGD, EAD models)
- independent verification and validation of models used to estimate ECL
- valuation of financial instruments subject to measurement at fair value (e.g. unlisted equity investments)