IBNR/RBC Valuation Claim and Premium Reserve
Our company provides specialized services to general insurance companies in the calculation of Incurred But Not Reported (IBNR) reserves, as well as premium reserves and insurance risk capital requirements under RBC Form 4.
IBNR calculation is the estimation of claim liabilities that may arise in the future from events that have already occurred but have not yet been reported. Meanwhile, the Premium Reserve represents the estimated amount of premium income that the company will recognize in the future from policies that are currently in force.
All calculations must be reviewed and certified by a certified actuary, covering both gross and net of reinsurance. This ensures that the insurance company maintains adequate reserves and capital to meet regulatory requirements and support the risks it has assumed.
Our company possesses extensive expertise and experience in actuarial reserving, delivering accurate and reliable reserve calculations in accordance with actuarial principles. We help our clients effectively manage risk and confidently plan their finances, enabling informed decision-making and sustainable business growth.
Our company provides services in expense studies and analyses for insurance companies, particularly within the non-life insurance industry. Expense information is an essential component in actuarial models and various financial analyses.
The expense items analyzed in the study include:
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Unallocated Loss Adjustment Expenses (ULAE)
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Maintenance Expenses (ME)
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Claim Handling Expenses (CHE)
Establishing accurate and reasonable expense assumptions is essential for various actuarial and financial processes, including:
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Cash Flow Testing
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Profit Testing
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Capital Adequacy Testing, etc.
Our company possesses extensive expertise and experience in developing robust and reliable expense assumptions. These assumptions provide clients with valuable insights to support strategic decision-making and financial planning, enabling them to operate with greater confidence and effectiveness.