OUR SERVICES
TACKLING SOLVENCY II
James, Brennan & Associates provide all relevant services related to the EU legislative programme "Solvency II". We help small and large firms meet the arduous and time consuming requirements set out by the Directive. We will implement, maintain and document USP, Partial or Full Internal Models, guiding the model approval process and helping clients meet the Reporting requirements.
COMMUTATION
The early liquidation of a contract for some consideration. There are many aspects to a commutation deal, ranging from an in-depth technical evaluation of loss experience and contractual exposures to the psychology of a horse trade. Often the form of a financial transaction greatly affects the reception which a commutation deal will receive from supporting counterparties (such as reinsurers). Poorly structured commutations whose scope includes the settlement of contingent (IBNR) claims are likely to damage a cedant’s ability to collect reinsurance. Our range of experience in the field is diverse and we have developed a specialist web-site designed to manage commutation work-flow (see www.runoffcentre.com).
RESERVING AND PRICING
Our team is capable of providing an in-depth analysis of claims history and a projection of expected experience for use in setting IBNR figures. We also provide services for the development of product pricing models and determining appropriate premium levels. We act as actuarial function for several insurers. JBA's principal actuary, Dewi James, is also a member of the Indian Panel of Actuaries.
REINSURANCE OPTIMISATION
Other than claim payments, reinsurance purchase is often an insurer’s single largest business expense. In many cases it is also an insurer’s single largest asset category. A detailed focus on the behaviour of a prospective reinsurance programme really makes a difference. Similarly small changes to the management approach to an existing reinsurance programme will often speed cash flow, provide the possibility of hedging-out counterparty credit risk and generally tune-up the performance of the asset class. We also implement a continuous technical development programme to improve our services in this area.
EXPERT REPORTING
We are certified actuaries for the purposes of Lloyd’s Statements of Actuarial Opinion. We have acted as Independent Expert on numerous Part VII transfer schemes and provided support or critique on many more. JBA have provided various actuarial services on solvent schemes of arrangement, including acting as scheme actuary, as independent vote valuer and in various advisory roles, both on behalf of scheme proponents and scheme creditors.