Why Rogers Capital
Our services are geared to nurture sustainable win-win relationships with our clients. As a business partner, we ensure that our clients understand the full breadth and implications of our advice. We offer bespoke solutions that address the various needs of your organization.
Our team caters for all areas of statutory compliance (business certification, solvency (ORSA), pricing, bonus distribution) and provides strategic insights on various facets of your business. We are licensed by the FSC (Financial Services Commission of Mauritius) and our expertise extends across three broad areas: retirement, insurance/re-insurance and financial risk management.
- We have access to a network of actuaries from diverse horizons and fields of expertise.
- Our philosophy is to build long term win-win business relationships with our clients.
- Our team advises employers, trustees, government bodies and other organizations on their pension requirements which are detailed out below.
- When setting up a pension plan for your employees, it is imperative to strike the right balance between providing benefits that meet the expectations of your employees while managing your costs. For example, integration with state benefits or benefit eligibility criteria are essential elements of the design.
Mergers & Acquisitions
- Pension rights following a merger or an acquisition is an area that requires actuarial involvement at the very start of business negotiations. This ensures that the different stakeholders are treated in fairness and equity while ensuring the long-term sustainability of benefit promises made.
- Pension governance worldwide is more dynamic than ever as regulators seek to implement the best industry practices. Without adequate training, pension trustees run the risk of falling foul of new regulations.
Valuation of Retirement Plan
- Actuarial valuation of a pension scheme is a statutory requirement in many jurisdictions the world over. Funding valuations are typically required every three years (or more frequently) while valuations of employee benefits for accounting disclosures (IAS19) are required every year.
A pension plan is an investment vehicle which needs the right advice on:
- where to invest
- how much to invest and when
- hedging strategies
- asset liability models
New Company Set up
- A feasibility study for a new startup is both a powerful business tool as well as a compliance requirement (for licensing purposes). The study projects the financials forward over the next three to five years and looks at vital business indicators e.g. capital requirement, adequacy of pricing structure, risk strategies, etc.
- Insurance regulators demand an annual actuarial valuation and solvency assessment of insurance/reinsurance companies in line with the statutory valuation rules and guidelines. The actuary is also required to certify that the premium rates are adequate and bonuses declared are fair and sustainable.
- This is a non-negligible cost centre for any insurance company. Without actuarial modelling, it is difficult to – gauge the optimum level of risk that can be retained to manage costs – put in place the most appropriate risk transfer strategy
- Actuarial expertise lies at the heart of insurance/reinsurance product design and costing. Premium rates worked out need to reflect the specific business parameters e.g. distribution channel, commission structure, target profit margin and sales volume, cost base, etc.
Own Risk Solvency Assessment (ORSA)
- ORSA requires insurance/reinsurance companies to develop and calibrate their own internal risk model. Stress test scenarios and sensitivity testing must be reported to the regulator, at least once a year, in one consolidated risk report.
Banking – IFRS9
- Actuarial modelling is required to value accounting provision for credit losses. Economic models are used which integrate a number of socio economic factors that are known to have a bearing on the risk of default on loans advanced by banks.
Enterprise Risk Management
- ERM is a modelling tool that captures and weighs the different risks to which a company is exposed. Internal risk elements which can be mitigated are identified for action by management while realistic and cost effective “hedging strategies” are formulated for the external risks.
- Funeral schemes require an actuary to certify the financial soundness of the setup as well as provide comfort that the costing of the different funeral plans is adequate.