For the past three decades, i.e. Muhanna & Co has been serving most of the world’s largest insurance companies in the Middle East. We offer focused advice and services on reserving, rating, market studies, corporate strategy, risk management, product offerings, pricing, and other key areas. In an era of changing standards and law, our consultants provide the highest quality services to ensure regulatory compliance for our clients while building to solutions that will enhance companies’ performance and profitability of our clients. We are qualified and are registered to fulfil the actuarial work mandate by regulators in all jurisdictions throughout the GCC, Middle East and East Africa.
Moreover, the company provides supervision by advising companies and organizations on the regulation and supervision of insurance companies. Such services include the preparation and submission of forms and other information requested by regulators. Other related services include the validation or set of the mathematical models used by insurers which need to comply with Solvency I and II requirements. We have also trained insurance companies’ officers as well as large auditing firms officers, on the requirements of these directives as well as the technical mathematical models used to comply with the directives. In addition, we provide services in reviewing insurance companies’ financial statements and regulatory returns and analyzing business plans of newly set up companies or for mergers/acquisitions of existing companies and their compliance to regulatory restrictions.
As for the actuarial services, the company offers a full suite for life insurance companies which includes product earnings reviews, new rating structures counsels and new competitive products design.
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.
In addition, 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.
Types of Clients:
- Life Insurance Companies
- Non-Life Insurance Companies
- Takaful Insurance Companies
- Reinsurance Companies
- Regulatory Agencies
Types of Services:
- Reserve Valuation of Liabilities
- Product Design and Product Profit Testing
- Market Studies
- Business Planning and Feasibility Studies
- 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
key services :
Reserving & Ratemaking
Licensed by the Cyprus Securities and Exchange Commission under licence number 138/11 in accordance with the Markets in Financial Instruments Directive.
Market and Feasibility Studies
We are a proud member of the Investor Compensation Fund which acts as a guarantor of last resort for our investors. IFC covers the maximum amount of 20.000 EUR for MiFID clients.
Investor’s money is kept in segregated accounts with top-tier banks that cannot be claimed by creditors or used by us. Account base currencies are available in EUR, GBP, USD, CHF and JPY.
Valuation of Assets and Liabilities
Through the use of an automated transaction monitoring and risk management system, a Consulting WP client’s account will never be allowed to reach negative balance.