Group Actuarial Function

2020‑2023

Value creation

Design and implementation of Group-wide policies, models, and systems

Key Actuarial Responsibilities

• Creating internal actuarial functions – Establishing effective actuarial capabilities across the Group while ensuring full compliance and reducing reliance on external consultants
• Supporting decision‑making – Providing senior management and technical teams with data‑driven insights, portfolio monitoring, and risk assessment
• Enhancing data and analytics – Improving data quality, reporting, and predictive analytics to drive business opportunities and strengthen competitiveness
• Managing IFRS 17 implementation – Overseeing technical systems, modeling, financial analysis, and reporting under IFRS 17 requirements
• Optimizing risk and reserving strategies – Leading reserving policies, reinsurance optimization, and advanced risk modeling, including CAT modeling and stress‑testing
• Maintaining consistent reporting framework – Providing regular analysis to various stakeholders covering independent reviews, key highlights, regulatory assessments, and technical insights

2024‑2025

Milestones and value added

• Scaled actuarial resources – Strengthened team capabilities by recruiting skilled individuals to support growth and operational needs
• Established strong foundations – Designed and implemented a marked‑leading solution for regional quarterly reporting with a comprehensive internal control framework
• Supported group alignment – Enhanced Groupwide guidelines, actuarial trainings, technical methodologies, and soft-skills developments
• Increased collaboration – Restructured the Group actuarial function to align resources with specific geographies and business requirements
• Deepened analytical and business engagement – Conducted in‑depth reserve reviews that incorporated business insights and market trends, enabling stronger management reporting, better oversight, and understanding of technical movements
• Streamlined BAU – Automated reports and built dashboards, by leveraging strong data foundations, to fulfill the increasing demand for technical requests from both internal and external stakeholders, including auditors and regulators
• Fairfax International – Actively participated in Fairfax International Working Groups to learn from, and share experiences with, actuarial teams from other regions

2026

The Road Ahead

• Collaboration – Establish a GIG Actuarial Working Group to deepen the collaboration across entities, harmonize methodologies, and enable sharing of insights, experience, and best practices within the Group
• Support to entities – Strengthen oversight across subsidiaries by developing a structured framework to assess actuarial processes, current capabilities, and pain points, ensuring targeted and meaningful support aligned to business needs
• Widen actuarial scope – Enhance actuarial capabilities in Pricing, Portfolio Management, and Reinsurance Optimizations through increased oversight and deeper analytical engagement
• Skills and training – Continue empowering the team to broaden their skillsets, with a focus on advanced analytics, technical capability, and actuarial excellence
• Technology – Further enhance actuarial and financial systems so they meet the latest standards set by local and regional regulators
• Innovation – Leverage new skills to enhance our processes, including the development of dashboards, and the wider use of coding and AI to improve efficiency, accuracy, and decision support