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.
actuarial services pwc cyprus

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 depthand breadth of skills and competencies, our Actuarial team plays an important role in helping our clients build trust and deliver sustained outcomes.
actuarial services pwc cyprus

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

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Contact us

Constantinos  Rossides

Constantinos Rossides

Director | In charge of Actuarial Services, PwC Cyprus

Tel: +357 - 22555141

Nicos S Stavrou

Nicos S Stavrou

Partner, Assurance | In charge of Insurance, PwC Cyprus

Tel: +357 - 22555792