Client: International Reinsurer
Project
IFRS 17 – Actuarial Methodology & Process Review
Challenge
The client needed to benchmark its IFRS 17 actuarial approach against the Standard and market norms, while finding ways to make its process faster, stronger, and easier to govern.
Sephira’s Role
- Performed in-depth assessment of the client’s existing IFRS 17 methodologies and related production process, identifying gaps vs peers
- Recommended targeted enhancements with clear rationale
- Designed a future-state process and high-level system architecture, with a phased implementation roadmap
Impact
The client gained a clear plan to upgrade methodologies, streamline delivery, and improve compliance efficiency.
Client: Pan-European Specialty Insurer
Project
Climate Change – Materiality Assessment & Stress Testing
Challenge
The client needed to complete its Climate Change Materiality Assessment and stress testing for the annual ORSA, ensuring its approach met regulatory expectations and that tools and methodologies were fit for purpose.
Sephira’s Role
- Reviewed methodology and models against regulatory requirements and market practice
- Validated the fitness of tools used and identified improvement opportunities
Impact
Delivered targeted enhancement recommendations and a report supporting both internal decision-making and regulatory submissions.
Client: Big 4 Firm
Project
Solvency II Head of Actuarial Function
Challenge
The client required an ongoing annual appointment to act as the regulator-approved Head of Actuarial Function for a multinational insurer, delivering formal annual opinions on technical provisions, underwriting, reinsurance, and the ORSA process.
Sephira’s Role
- Provide an experienced non-life actuary on a retained basis to fulfil the role
- Work closely with the insurer’s internal actuarial team and report directly to the Board
- Deliver all required opinions and reports annually, with ongoing advice throughout the year
Impact
Reliable, regulator-compliant delivery of actuarial opinions, supported by continuous strategic input that strengthens business and regulatory outcomes.
Client: Bermuda-Based International Reinsurer
Project
Outsourced Loss Reserve Specialist
Challenge
The client required an ongoing annual appointment as Bermuda Monetary Authority–approved Loss Reserve Specialist, providing independent actuarial opinions on non-life reserves each year to meet regulatory requirements.
Sephira’s Role
- Act as the BMA-approved Loss Reserve Specialist on a long-term retained basis
- Conduct annual independent reserve reviews
- Prepare formal opinion reports each year for submission to the regulator and presentation to the Board
Impact
Consistent, year-on-year delivery of regulator-approved reserve opinions, coupled with practical recommendations that strengthen reserving governance and inform strategic decisions.
Client: Big 4 Firm
Project
Year-End Audit – Non-Life Portfolio Support
Challenge
The client needed senior actuarial expertise to lead all actuarial aspects of its year-end external audit portfolio across non-life insurance clients.
Sephira’s Role
- Provided an experienced actuary to manage delivery across the portfolio
- Coordinated internal and external stakeholders
- Presented results at Audit Committee level
Impact
Achieved timely, high-quality audit delivery while adding value throughout the audit process.
Client: International Reinsurer
Project
IFRS 17 – Methodology Enhancements & Strategic Reporting Roadmap
Challenge
The client needed to implement short-term IFRS 17 methodology changes to improve its reporting process, while also designing a long-term, scalable, and strategic reporting solution.
Sephira’s Role
- Delivered targeted methodology changes to achieve immediate improvements
- Reviewed the client’s reporting framework to identify efficiency and scalability gaps
- Developed a detailed task/resource level roadmap, for implementing a future-state reporting solution aligned with the client’s strategic objectives
Impact
Enhanced IFRS 17 reporting efficiency in the short term, with a clear, actionable plan to deliver a more robust and scalable solution for the future.