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
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.
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.
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.
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.
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.
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.
Expansion to East Africa
i.e. Muhanna & Co. establishes its office in Dar es Salaam, Tanzania.
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.
Tight control of signing powers.
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.