Insurance services

BWCI provides a broad range of life and non life insurance services to financial institutions.

Our clients include international life assurance companies, friendly societies and captive insurance companies. We focus on the strategic issues that affect financial performance and competitive positions. These include the core actuarial functions of reserving advice and certification, as well as broader consultancy issues such as product design and pricing.

We also carry out the statutory actuarial duties for life assurance companies and friendly societies. These include advice on the long-term business provisions for inclusion in the audited accounts, advice on bonus rates and the distribution of surplus. We can also assist in the development of the full range of products and advise on the capital needs to support such products. This may include projections of the client's future financial position on a range of assumptions, including the effects of changes in new business levels or in expenses, and may extend to general strategic planning.

Our in depth knowledge of international life assurance enables us to provide advice and research on the nature and scope of the markets, both from our own experience and through our Abelica Global network colleagues in other international financial centres.

With our investment consultants, we can advise on investment strategy, including the use of asset liability studies.

Increasingly, we are being asked to determine, or to verify, the technical reserves of captive insurance companies. This may be for regulatory or taxation reasons, or in order to satisfy accounting needs. Whatever the reason, we are able to apply a range of statistical, graphical and economic techniques using advanced analytical tools and software to determine the technical reserves in a rigorous manner, backed by our professional actuarial judgement. We then present our results in clear and non-technical language, often using graphical presentations to help in the understanding of the results. Similarly, we can determine, or verify, premium rates for a captive insurance company. We can also advise on related liability and risk management issues, such as reinsurance strategy.

We provide a full insurance management service in Guernsey for international life assurance companies and branches through our specialist insurance management company. We are also able to provide directors for corporate insurance operations.