Russia

Actuarial Services 

KPMG Russia and the CIS Actuarial Services practice brings a new dimension to financial reporting and management of actuarial processes and future events in your insurance, employee benefits or pension fund arrangements in order to manage risk and improve cost.

The team caters to most practice areas (outlined below) and delivers services across a range of engagements, from audit support, support in insurance or pensions due diligence to non-audit valuation and provision of independent actuarial opinions.

Contacts

Adrian Quinton

Adrian Quinton

Partner, Regional Head of Insurance and Actuarial Services practices

+7 495 937 44 77


Andrey Voronin

Andrey Voronin

Manager, Actuarial Services

+7 495 937 44 77


Natalia Tomilova

Natalia Tomilova

Manager, Actuarial Services

+7 495 937 44 77

 

Non-life insurance

  • Loss reserving to enable completeness of financial statements, diminish risks of mispricing, misallocation of capital and excess tax cost
  • Pricing of insurance premiums of existing and new products to devise the right price for risk and improve profitability
  • Devising an optimal reinsurance route to reduce aggregation of risk, smooth profitability and curtail prescribed solvency capital requirements
  • Review and improvement of underwriting policy to safeguard the portfolio from excess risk
  • Analysis of claims and risk factors to identify key sources of risk and profitability

Life insurance

  • Review and estimation of life insurance reserves for accurate allocation of capital
  • Assistance with development and pricing of existing and new products
  • Profit-testing and sensitivity analysis of existing and future products to evaluate optimal balance between profitability and capital requirements

Non-state pension funds

  • Valuation of pension obligations in compliance with IFRS (IAS 19, IFRS 4) and audit review
  • Consulting non-state pension funds on IFRS adoption, assistance in the development of accounting policies and treatments
  • Evaluation of funded status of non-state pension funds
  • Consulting on improvement of the financial performance of non-state pension fund

Pensions and long-term employee benefits

  • Valuation of post-employment or long-term benefit obligations in compliance with IFRS (IAS 19) or US GAAP (FAS 87) and audit review  

Multi-disciplinary

  • Due diligence assistance on buy or sell side
  • Evaluation of pre-funding arrangements
  • Statistical modeling of claims and cashflows
  • Asset liability matching to align expected returns per asset class to expected outgo
  • Review of methodologies used in share option pricing

 

Russia and the CIS Actuarial Services practice is an extension of KPMG's Global Actuarial Services, underpinned by an international footprint of diverse actuarial practices, covering over 20 countries with over 250 professionals.

 

Members of our team are affiliated with local and international actuarial governing bodies such as the Institute and Faculty of Actuaries in the United Kingdom, the International Actuarial Association and the Guild of Actuaries of the Russian Federation.

 

Our working relationship with KPMG's worldwide actuarial network combined with a deeper knowledge of the local market enables us to deliver unparalleled best practice actuarial services ahead of localized developments.