Switzerland

Actuarial Services 

Changes in the market environment, developments in the regulatory framework and increasing focus on transparency and disclosure are challenging for the insurance industry, but offer opportunities at the same time.
Hero image actuarial services

Actuarial know-how is essential for established and new insurers to ensure that they remain competitive in the long run.

 

Our Swiss actuarial practice regularly works with other KPMG technical and sector specialists to help insurance clients prepare for the future.

What is on your mind?

Risk- and Capital Management

 

In response to an increasing emphasis on risk management, there is a requirement on insurers to enhance their abilities to quantify risk and embed risk management into business operations.

Available capital needs to be attributed and used as efficiently as possible. Swiss Solvency Test (SST) and Solvency II are the dominating themes on the Swiss and EU insurance markets respectively.

 

  • Are you well on track with respect to the implementation of pillar I, II and III of Solvency 2?
  • Would you like to externally validate your internal risk model?
  • Are there areas in your internal risk model with potential for improvement?
  • Does your internal model play an important role in the system of governance (does it pass the use test)?

 

Reserving

 

Estimating the loss reserves is one of the actuarial core tasks in a re/insurance company.

 

  • Would you like to do an independent external reserve review to have an expert opinion on the adequacy of your reserves?

 

Financial Reporting

 

There is increasing pressure for multi-dimensional reporting, with all stakeholders expecting more robust information and assumptions, delivered more quickly than before.

 

  • How do you ensure consistency in the calculation and the reporting of the Market Consistent Embedded Value MCEV?
  • How does the introduction of IFRS 4 Phase II impact your organization?

How can we help

We have an expanding team of more than 350 actuaries across Europe.

We have strengthened the actuarial services team in Switzerland and in Europe. Our actuaries are an integral part of the Insurance team with specialists in many different disciplines.

 

We can help insurers across a number of areas on the life and non-life actuarial side, examples include:

 

  • Swiss Solvency Test SST / Solvency II
  • Enterprise Risk Management (ERM)
  • Reserve reviews / Profitability analysis
  • Appointed Actuary mandates
  • Financial Reporting (includes IFRS, market consistent embedded value)
  • Product design and pricing
  • Transactions and Restructuring
  • Audit Support

Thomas Schneider

Thomas Schneider

Partner, Head of Quantitative Finance Group, Financial Services

+41 58 249 54 50

Further Information

Financial Accounting Advisory Services

The KPMG IFRS Financial Services Group is a dedicated team of professionals with profound financial services experience.