Actuarial Services
PwC's Risk Modelling & Actuarial Services practice is a global team of over 2,000 actuaries, data scientists, climate scientists, financial and geospatial engineers operating across more than 44 countries around the globe.
Our local Actuarial team, composed of UK qualified (FIA and CERA) actuarial excellence leads, has extensive experience in several jurisdictions and in multiple disciplines – insurance and health actuarial services, IFRS 17 and Solvency II, M&A actuarial due diligence, financial and climate risk modelling and reporting, assurance, employee benefits, advanced analytics and actuarial modernisation services.
We help insurers and other financial service providers prepare for future operational, business, regulatory and market demands by focusing on how to improve actuarial, finance and risk functions.
We have expertise in actuarial function and enterprise risk management framework improvement, data and technology transformation, regulatory and financial reporting consulting, insurance strategy formulation and design.
Our services
By bringing together a tech-enabled community of solvers, we can deliver services with agility, capability and a unique global perspective. And with substantial depth and breadth of skills and competencies, our Actuarial team plays an important role in helping our clients build trust and deliver sustained outcomes.
- Non-Life and Life advisory services
- Health actuarial services
- IFRS 17 services
- Managed Services
- Assurance services
- M&A services
- Employee benefit services
- Insurance analytics services
- Actuarial modernisation services
- ERM services
- Sustainability services
Non-Life and Life advisory services
Actuarial valuation reserve reviews
Pricing and premium setting
ALM and capital modeling
Reinsurance optimisation
New product design and reviews
Setting up and licensing a new insurer
Solvency II Ancillary Own Funds and USP
Health actuarial services
- Help health insurance companies, governmental institutions, health care providers and regulators with health insurance product design, financing framework design, costing, pricing and risk modeling
IFRS 17 services
Implementation and post-implementation support
Enhancement of IFRS 17 Technical requirements, methodologies, and policies
Actuarial cashflow modeling
Managed Services
Fulfill the Actuarial Function role
Provide clients with actuarial modeling solutions under a managed service model to build sustainable teams that deliver real value to the business
Assurance services
Support our audit teams as technical subject matter specialists in audit of actuarial balances in financial statements, as well as providing assurance over models that use AI/ML and predictive analytics
Provide assurance on ESG disclosures and a suite of ESG metrics
Perform internal audit on actuarial processes
IAS 19 Audits
M&A services
- Provide actuarial diligence of and advice on Life and Non-Life insurance M&A transactions, reinsurance transfers, capital relief and restructuring (reinsurance and capital markets) and post-merger integration
Employee benefit services
Actuarial valuation of Defined Benefit pension obligations
Medical scheme benefits costing, pricing, analytics and design
Employee benefits recognition, classification and valuation
Insurance analytics services
Help clients solve complex business problems through advanced predictive analytics and machine learning; improve operations, profitability, and competitive position
Improve the quality of your data by building robust and automated data flow controls
Use automation and advanced statistical software to handle, analyse and visualise large volumes of data providing smart and interactive reports
Actuarial modernisation services
- We help insurance companies develop best-in-class finance, risk and actuarial functions by identifying and implementing the tools, processes, skills, competencies, and resources that enable them to achieve their business strategic objectives
ERM services
Provide support on Solvency II ORSA and Stress and Scenario testing, Risk Management and ERM frameworks for insurers
Help clients Incorporate ESG risks in their Risk Management Frameworks
Sustainability services
Regulatory compliance with insurance-wide required sustainability reporting requirements.
Climate change scenario risk modeling and reporting in regulatory reports (ORSA) for insurers
Quantification, review and assessment on physical and transition risk to all insurance operations
Solvency II Amendments
Solvency II amendments are coming into effect from January 2027, aiming to enhance the resilience of the insurance sector, improve risk management, and reduce regulatory burdens for smaller entities.
These amendments promote long-term investment, enhance supervisory practices, and reduce unnecessary burdens on smaller insurers.
For more information read the full article below.
The GenAI augmented actuary: Crossing the inflection point 
Explore our Actuarial Professional Training scheme
Contact us
Director | In charge of Actuarial Services, PwC Cyprus
Tel: +357 - 22555141
