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How will the coronavirus transform healthcare, retirement, and insurance?
The new IFRS standard for insurance contracts promises to have a transformative effect on insurers’ financial reporting. Milliman has unparalleled experience with Solvency II and other regulatory regimes, coupled with groundbreaking systems implementation and industrialisation capabilities.
Analyse unpaid claims liabilities with industry-leading stochastic and deterministic reserving tools and methods.
Streamline Solvency II compliance with a multi-user, multi-site tool for Standard Formula SCR and quantitative reporting templates.
Automate and accelerate actuarial modelling and reporting with a powerful, cloud-based solution.
Milliman provides a round-up of recent news in the South African insurance industry. This update includes an update on IFRS 17 developments, how cyber risk is affecting insurers, various regulatory updates, as well considerations of the balance sheet and capital treatment of cryptocurrencies.
New regulations encourage innovation and transformation in South Africa’s insurance industry.
The Prudential Authority (PA) published in July the draft Prudential Standard on public disclosures for insurers (PDI) and related guidance notice (GN) for public comment.
Insurer beware: Before more guidance from South African regulators becomes available, we offer our approach to calculating the SAM non-life risk margin.
There is a significant need in the market to transform cyber assessments, information technology metrics, and information security into the common language of risk management.
David Kirk is the managing director for Milliman in Africa. He specialises in risk and capital management, regulatory change and insurance strategy.
Susan Melmed is a consultant focusing on life insurance, asset-liability management, market and operational risk management, and financial reporting.
Avashni Rossouw is a consultant focusing on life and non-life insurance, published and statutory financial reporting and pricing.
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