Company Overview

i.e. Muhanna & co. (Actuaries and Consultants) was the first independent actuarial consulting firm in the Middle East, established in Cyprus in 1986.  Today it is among the largest actuarial consulting firms in the region and is recognized as the leader of actuarial and management consulting throughout the MENA  and the GCC region as well as East & Central Africa countries, assisting governments, organizations and companies to meet their goals.

With more than 35 years of worldwide services, our team of professionals has the capacity to handle sophisticated and specialized tasks with technical expertise and knowledge of local and regional needs.

Our keen understanding of the region’s language and culture, as well as savoir-faire in technical and strategic issues, allows our firm to provide a wide spectrum of services to private and governmental entities in social insurance, pension and provident funds, employees benefits, health care, life, health and general insurance, rating as well as actuarial education.

So far, we have provided consultancy services in 38 different countries to:

  • 41 Insurance Companies
  • 52 Governmental bodies
  • 131 Private Organizations

We provide expert assistance in the provision of, market surveys, feasibility studies, business plans, set-up of insurance companies, product design-pricing-testing, optimization of retention, pension plan administration, actuarial reviews, Statutory Short/Medium/Long term & ad hoc Valuations, actuarial audits, system audits, management & strategic advice, M&As, ALMs, ERMs as well as selection of investment managers, construction & application of salary scales and expert witness testimony

Pensions, Social Insurance, Nation Health & Employee Benefits:
Algeria, Bahrain, Cyprus, Gambia, Greece, Jordan, Kuwait, Lebanon, Oman, Qatar, Romania, Saudi Arabia, Syria, Sudan, Tanzania, Turkey, UAE, USA, Yemen.
General, Health & Life Insurance & Reinsurance:
Bahrain, Cyprus, Egypt, Greece, Iraq, Iran, Jordan, Kuwait, Lebanon, Libya, Malta, Oman, Qatar, Saudi Arabia, Russia, Syria, Sudan, Tanzania, Tunisia, Turkey, UAE, UK, Yemen.
Other Fields:
Austria, Bahrain, Belarus, Belgium, Cyprus, France, Ghana, Germany, Jordan, India, Indonesia, Lebanon, Oman, Philippine, Saudi Arabia, UAE, USA.

Company History

  • 1986

    i.e. Muhanna & Co. Established

    i.e. Muhanna & co. was first established in 1986 in Nicosia, Cyprus, as the first independent actuarial consulting firm in the Middle East. Forming an IT department in 1989 to develop insurance and retirement administration tools.

  • 1989

    Insurasoft Company

    Insurasoft Company Ltd. was created to support the actuarial staff of i.e Muhanna & co, in order to develop insurance administration and marketing systems as an answer to the need of the insurance industry.

  • 1992

    i.e. Muhanna & Co. Cyprus Founded

    Taking a large step forward, i.e. Muhanna & co. Cyprus was founded to provide actuarial services in Cyprus and Greece.

  • 1994

    Muhanna Foundation Established

    In recognition of the need to further actuarial education in the region, the Muhanna Foundation was established as a non-profit organization.

  • 2001

    Expansion to Lebanon

    The group expanded establishing i.e. Muhanna & co. Sarl in Beirut, Lebanon, while in Cyprus our two companies merged into i.e. Muhanna & co. Ltd. in 2003.

  • 2011

    25 Years

    Our firm celebrates a quarter of a century of dedication and professionalism, and until today remains the only indigenous actuarial and management consulting firm in the Middle East region, including Cyprus and Greece.

  • 2015

    Expansion to East Africa

    i.e. Muhanna & Co. establishes its office in Dar es Salaam, Tanzania.

  • 2016

    30 Years

    Our firm celebrates 30 years of dedication and professionalism, and until today remains the only indigenous actuarial and management consulting firm in the Middle East region, including Cyprus and Greece.

Our Approach & Values

All actuarial work within i.e. Muhanna & co. (Actuaries and Consultants) is carried in line with International Professional Standards. For retirement benefit schemes services, all work is carried out as per the Society of Actuaries, the Institute of Actuaries and the Cyprus Association of Actuaries guidelines. In addition, we apply the International Actuarial Association (IAA) guidelines for social insurance systems. Furthermore, the firm has adopted more rigorous standards in order to ascertain continuous provision of quality services.

Our quality procedures for large actuarial projects are based on internal general guidelines:

Clear Client Instructions

We obtain specific instructions that best fit our client’s needs, and ensure adequate resources availability to carry out those instructions.

Signing Powers

Tight control of signing powers.

Expert Analysis

Expert analysis of the technical content of all client advice by an external advisor or a Senior Actuary before it is released in final form to the client.

Briefing & Delegation Skills

Our teams are equipped with matchless briefing and delegation skills so that tasks and projects may be carried out at a first-class level.

Clear Work Trails

Maintenance of client records demonstrating clear work trails.

Delivery of Results

Clear communication of results to clients.

How Can We Help You?

Contact us at our office nearest to you to submit a business inquiry or inquire about joining our team.

For the last 30 years, we have been committed to improving the financial stability and economic growth of our region through helping organizations and governments understand, manage, and mitigate their own financial risk.

Ibrahim Muhanna
Founder & Managing Director , i.e. Muhanna & Co.

World-class actuarial consulting firm serving the MENA and East Africa since 1986.