Client/ Industry
Insurance companies
Featured
Actuarial services, governance, secondments, regulatory & IFRS 17
The situation
Responding to increasing regulatory expectations and demand for actuarial expertise
Insurance companies operating under the Solvency II framework face growing regulatory expectations, increased reporting requirements, and heightened scrutiny of actuarial governance. Maintaining an effective Actuarial Function is critical to ensuring the appropriateness of technical provisions, supporting risk management processes, and providing independent oversight.
At the same time, the insurance industry faces increasing competition for experienced actuarial professionals. Insurers are often challenged to secure and retain proportionate levels of specialist actuarial expertise required to support reserving analyses, regulatory reporting, capital assessments, and broader strategic initiatives.
Our clients sought a trusted advisor capable of delivering both independent regulatory oversight and access to experienced actuarial professionals who could proportionately strengthen internal capabilities while adhering to the highest professional standards.
The solution
Combining independent oversight with practical actuarial support
Our actuarial team developed a flexible service offering that combines regulatory expertise, actuarial governance, and specialist actuarial resource support.
The team successfully secured various Actuarial Function Holder (AFH) mandates, providing independent actuarial oversight and governance support to insurers operating within the European market. Through these appointments, we assist clients in meeting Solvency II requirements by providing independent challenge, oversight of technical provisions, support on actuarial governance matters and engagement with key stakeholders.
In parallel, we expanded our actuarial support offering through targeted actuarial secondments. Experienced actuarial professionals were embedded within client teams to provide additional capacity and specialist expertise across areas including reserving, regulatory reporting, capital management, and ongoing actuarial operations.
By combining strategic oversight with hands-on actuarial support, we delivered a solution that addressed both governance requirements and operational needs, helping clients enhance resilience while maintaining regulatory compliance.
The results
Establishing PwC Malta as a leading actuarial advisor
Our actuarial practice achieved a significant milestone through the successful expansion of our insurance sector presence.
- Various Actuarial Function Holder mandates secured
Demonstrating strong market confidence in our actuarial expertise, independence, and ability to fulfil key regulatory functions. - Various Actuarial secondments delivered
Providing insurers with immediate access to specialist actuarial talent and strengthening their in-house actuarial capabilities. - Enhanced actuarial governance
Supporting insurers in meeting Solvency II requirements through independent oversight, challenge, and expert actuarial guidance. - Increased access to specialist expertise
Helping clients address resource constraints while ensuring continuity across critical actuarial and regulatory activities. - A growing presence in the insurance market
Establishing our firm as a recognised provider of actuarial governance, advisory, and resourcing solutions for insurers operating in a highly regulated environment.
Creating long-term value for the insurance sector
The expansion of our actuarial practice reflects the increasing trust that insurers place in our ability to deliver complex actuarial solutions. By providing both independent Actuarial Function Holder services and specialist actuarial secondments, we help insurers strengthen governance, enhance operational effectiveness, and respond confidently to evolving regulatory expectations.
These achievements mark an important step in the continued growth of our actuarial capabilities and reinforce our commitment to supporting the long-term resilience and success of the insurance sector through high-quality, practical, and trusted actuarial expertise.
Win story
The Insurance team achieved another significant milestone during the year, securing new Actuarial Function Holder mandates with two esteemed entities, further expanding our footprint in the insurance sector. These appointments further reinforce the firm's growing reputation as a trusted provider of actuarial and regulatory services to the insurance sector.
The team also successfully placed actuarial and finance team members on secondment with a leading insurance company and in addition to already supporting it with the quarter end IFRS 17 financial close process and providing ad-hoc regulatory support. Our insurance team is providing this client with specialist expertise to enhance their actuarial and finance capabilities and support key business and regulatory priorities, demonstrating the continued growth of our non-audit service offerings and our ability to deliver value through both strategic governance roles and embedded functional support.
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As the needs of Malta’s businesses evolve, we continued to expand and integrate our offerings to help you, our clients, navigate an ever-changing world. Here are some of the ways we showed up for you in FY26.
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