Auto-enrolment pension scheme approved
Cabinet has approved the Automatic Enrolment Retirement Savings System Bill.
The requirements of the HoAF and the actuarial function are set out in the Central Bank of Ireland’s Domestic Actuarial Regime (“DAR”) and guidance for (re)insurance undertakings on the head of actuarial function role.
There are many reasons why an outsourced actuarial function model can be beneficial for (re)insurers, such as meeting short-term gaps in resourcing, enhancing efficiency in a long-term model, complementing internal expertise or managing conflicts of interest between individuals’ roles and responsibilities. The HoAF role may be outsourced except in the case of (re)insurers with a High Impact PRISM rating.
We can assist you with a flexible service tailored to your specific needs, which may evolve over time. For example, we can:
We currently provide actuarial function services to a number of clients. We can also leverage our knowledge gained from auditing a wide range of life and non-life (re)insurance companies to provide a high-quality service.
Our actuaries have experience in the following roles:
We are involved in Society of Actuaries committees and working parties and attend the regular HoAF forums for both life and non-life (re)insurance.
Solvency II directive 2009: eiopa.europa.eu
Solvency II delegated regulation 2015: eiopa.europa.eu
CBI guidance for (re)insurance undertakings on the head of actuarial function role 2016: centralbank.ie
CBI domestic actuarial regime 2018: centralbank.ie
CBI guidance for (re)insurance undertakings on fitness and probity amendments 2015: centralbank.ie
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