• Pension and Provident Funds/Schemes
    Services
    Services offered range from the set-up of pension plans and establishment of regulations and deed of the plan, to the statutory actuarial funding and accounting valuations and alterations of pension plans, as well as to their investment and administration. Furthermore, the department assists the management of organizations and their employees to discuss their chosen plan with government agencies for taxation and legal purposes.

    • Feasibility Studies for the Design and Establishment of Pension/Provident Funds/Schemes
    • Set-Up of Pension/Provident Funds/Schemes
    • Merger of Pension Funds and Privatizations
    • Statutory and ad hoc Valuations for Funding and Accounting purposes
    • Feasibility Studies for the Alterations of Pension/Provident Funds/Schemes
    • Administration Services
    • Investment Managers Selection Advice
    • Asset Liability Modelling
    • Management Consulting
    • Actuarial Audit

    Beirut Contact
    Mr Iyad Hourani, Managing Actuary and Director, iyad@muhanna.com

    Nicosia Contact
    Mr Marinos Theodosiou, Senior Actuary, marinos.theodosiou@muhanna.com
  • Social Insurance/Security
    Clients:
    Governments and authorities/organizations administering social insurance funds. 

    Services: 
    The set-up of Social Security schemes is a long and rigorous process that requires expertise not only on actuarial matters but also in legal, taxation, and even cultural issues. The current and long term viability of Social Security schemes warrant detailed feasibility studies before the establishment of any scheme and periodical actuarial reviews. The department consisting of a team of actuaries, management and legal consultants offers the whole range of services required for the establishment of social security schemes and the actuarial review of already established schemes. 

    • Feasibility studies for the establishment of Social Security schemes
    • Set-up of Social Security schemes and/or department
    • Statutory Actuarial Reviews
    • Statutory Sort/Medium/Long term projections of income and expenditure
    • Feasibility Studies for Scheme Reforms
    • Merger of funds
    • Administration consulting services
    • Scheme staff training for actuarial units
    • Research

    Who to Contact: 

    Beirut Office:
    Mr Ibrahim Muhanna, Managing Director, Ibrahim@muhanna.com
    Mr Iyad Hourani, Managing Actuary and Director, iyad@muhanna.com 

    Nicosia Office: 
    Mrs Tassia Tsikkinis, Senior Actuary, tasia.tsikinis@muhanna.com
  • Life & Non-Life Insurance
    Clients: 
    Private insurance companies operating in the life, health or general insurance sectors, financial institutions and banks. 

    Services: 
    Assisting commercial life insurance companies to enhance their profitability by reviewing product earnings, advising new rating structures or designing new competitive products. Outside technical actuarial insurance services, computer administration systems are available and management-consulting services are obtainable such as office organization requirements, reinsurance placement, and marketing studies. For other general insurance sectors such as motor, marine, fire etc the services offered relate to optimum retention levels for reinsurance purposes, premium rating, business plans and other services. 

    • Market Studies
    • Feasibility Studies
    • Product Design and Product Profit Testing
    • Valuation of Assets and Liabilities including Embedded Value Calculations
    • Valuations for Merger/Acquisition
    • Valuations for Expert Witness Testimony
    • Illustration and Administration System software
    • Marketing Consulting
    • Appointed Actuary duties
    • Business Plans and Application for License
    • Complete and Total Set-up of Life Insurance operations
    • Complete Set-up of Bancassurance operations
    • Management Consulting
    • Human Resources Recruitment and Training for Life Insurance Companies

    Who to Contact:

    Beirut Office:
    Mr Ibrahim Muhanna, Managing Director, ibrahim@muhanna.com 

  • Employee Benefits and Total Compensation
    Clients: 
    Government, semi-government and private companies in any a sector of services. 

    Services: 
    In addition to the services provided within the scope of pension and provident funds other employee benefits services are offered to our clients to meet long-term objectives such as to remain or become competitive in the search for qualified human resources. Employee benefits also used as a tool for re-organization when early retirement incentive schemes and can be designed to allow the re-structuring and renewal of private or government institutions. 

    • Design of Redundancy plans
    • Valuation of cost of redundancy schemes
    • Construction and application of salary scales
    • Full time personnel or sub-contracting studies
    • Early Retirement Incentive Schemes
    • Expert Witness Testimony for Employee Benefits

    Who to Contact: 

    Beirut Office:
    Mr Iyad Hourani, Managing Actuary and Director, iyad@muhanna.com 

    Nicosia Office: 
    Mr Marinos Theodosiou, Senior Actuary, marinos.theodosiou@muhanna.com
  • Health Care Systems
    Clients:
    Governments, Ministries of Health, National Health Schemes, Insurance and other Private Companies.

    Services: 
    Our non-life insurance services mainly concern health insurance specialized expertise, and as in our life services, we provide the entire range of tasks arising out of health care benefit funding organizations or schemes. Our technical tools assist the client in creating standard or customized forms of cover, analyzing the results and making any necessary adjustments. 

    • Market and Feasibility Studies
    • Business Plans for Application for License
    • Funding Valuation of pre and post health care benefit funds
    • Health benefit and rating structure
    • Periodic review of rates, benefits and cover
    • Management monitoring and analysis reports
    • Management Consulting
    • Actuarial audit

    Who to Contact: 

    Beirut Office:
    Mr Ibrahim Muhanna, Managing Director, Ibrahim@muhanna.com 

    Nicosia Office: 
    Mrs Tassia Tsikkinis, Senior Actuary, tasia.tsikinis@muhanna.com
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