Blog and News

Lux Actuaries & Consultants is proud to be re-awarded as the 2018 “Most Distinguished Actuarial Services Company” by the UAE Insurance Authority at the recent UAE National Day celebrations in Abu Dhabi. Lux was previously awarded this title in 2017. …

By Rakan Muawad, Actuarial Analyst, UAE Download the presentation pdf here The demand for actuarial students has increased significantly in the GCC, especially in Saudi Arabia. SAMA (Saudi Arabian Monetary Agency), the authority that regulates insurance operations in the KSA, …

By Navarun Jain, Lux Actuaries  Introduction Say you’ve just received data for motor insurance pricing for a new company. You want to model claim counts, but you’re not quite sure what rating factors really affect counts just by looking at …

An Actuary’s Advice to Medical Insurers Shivash Bhagaloo is a Fellow of the Institute and Faculty of Actuaries and Consulting Actuary at Lux Actuaries & Consultants Changes in GCC regulation over recent years have necessitated the Actuary playing a central …

Ind AS 19. With the advent of Ind-AS, now it is mandatory for many organisation to report their financial statement under this new accounting framework.

Is the introduction of pension schemes in the GCC overdue?  Regions like the UAE are making progress towards implementing this important safety net but pensions are still not a common benefit provided within a total reward package. Indeed there are enormous …

The shifting sands of leaving service gratuity

On Sunday, 22nd November, Lux presented a talk to the students of the American University of Sharjah (AUS) on the IFoA’s Certified Actuarial Analyst (CAA) qualification. The purpose of the presentation was to create awareness of the CAA qualification, the …

When one looks at the favorable indicators of economic growth, young generation demographics and low insurance penetration in Turkey, it is easy to understand why it has long been an attractive market for insurers. Motor represents around 50% of the …