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ACTOMATE

STATUTORY REPORTING

 

We provide end-to-end solutions covering valuation, capital adequacy, and financial reporting across multiple jurisdictions. We combine deep local regulatory knowledge with consistent regional execution to reduce operational burden and regulatory risk. Whether for quarterly filings or annual submissions, we ensure your reporting is robust, audit-ready, and aligned with evolving standards.

Resourcing

Regulatory Scope & Services

Labuan Financial Services Authority (LFSA)

  • Quarterly and annual statutory reporting valuations

  • Quarterly and annual Insurance Capital Adequacy Framework (ICAF) filings

  • Quarterly and annual financial reporting valuations

  • Internal Target Capital Level (ITCL) assessments

Bank Negara Malaysia (BNM)

  • Quarterly and annual statutory reporting valuations

  • Quarterly and annual Risk-Based Capital Framework (RBC) filings

  • Quarterly and annual financial reporting valuations

  • Individual Target Capital Level (ITCL) assessments

Insurance Regulator of Cambodia (IRC)

  • Quarterly and annual statutory reporting valuations

  • Quarterly and annual financial reporting valuations

Laos Ministry of Finance (MOF)

  • Quarterly and annual statutory reporting valuations

  • Quarterly and annual financial reporting valuations

Myanmar Ministry of Planning and Finance

  • Quarterly and annual statutory reporting valuations

  • Quarterly and annual financial reporting valuations

Otoritas Jasa Keuangan (OJK) Indonesia

  • Quarterly and annual statutory reporting valuations

  • Quarterly and annual Risk-Based Capital Framework (RBC) filings

  • Quarterly and annual financial reporting valuations

  • Individual Target Capital Level (ITCL) assessments

Republic of Seychelles

  • Quarterly and annual statutory reporting valuations

  • Quarterly and annual financial reporting valuations

Monetary Authority of Singapore

  • Quarterly and annual statutory reporting valuations

  • Quarterly and annual Risk-Based Capital Framework (RBC) filings

  • Quarterly and annual financial reporting valuations

  • Individual Target Capital Level (ITCL) assessments

Valuation services

International Financial Reporting Standards (IFRS)

  • We specialize in the implementation and ongoing valuation requirements for global accounting standards:

  • IFRS 17 Insurance Contracts: Full-scale valuation support using the General Measurement Model(GMM), Premium Allocation Approach (PAA), and Variable Fee Approach (VFA). This includes the calculation of CSM, Risk Adjustment, and LIC/LRC movements.

  • IFRS 9 Financial Instruments: Actuarial input for Expected Credit Loss (ECL) modeling and the classification/measurement of financial assets to ensure alignment with insurance liability profiles.

  • IFRS 4: Support for parallel reporting during transition phases and legacy statutory reporting valuations.

  • IFRS 15 Revenue from Contracts with Customers: Assessment of non-insurance service components within insurance contracts to ensure correct revenue recognition patterns.

Valuation Process
Enhancements

  • We don't just calculate numbers; we build better ways to produce them:

  • Model Automation: Streamlining valuation engines using R or VBA to reduce "manual touch" and minimize operational risk.

  • Prophet Optimization: Enhancing existing actuarial software workspace structures for faster run-times and better auditability.

  • Data Quality Frameworks: Developing automated data cleansing and reconciliation tools (Power BI) to ensure the integrity of valuation inputs.

  • Actuarial Training: Providing structured knowledge transfer and training sessions to internal teams on valuation methodologies, and the interpretation of technical results.

Life Insurance Valuation Services

Focus: Long-term liability management and complex modelling. 

Products: Whole Life, Endowment, Term, Investment-Linked (ILP). 

IFRS 17 Valuation: 

  • End-to-end liability valuation under IFRS 17 

  • Support for Building Block Approach (BBA) and Variable Fee Approach (VFA) 

  • Contractual Service Margin (CSM) roll-forward and analysis of movement 

  • Integration with finance systems and sub-ledgers 

Statutory & Financial Reporting: 

  • Valuation under local regulatory frameworks (e.g., Bank Negara Malaysia requirements) 

  • Preparation of actuarial reports and financial disclosures 

  • Embedded Value (EV) / New Business Value (NBV) reporting (if applicable)

Liability Valuation & Assumptions: 

  • Best Estimate Liability (BEL) and Risk Adjustment (RA) calculations 

  • Assumption setting: mortality, morbidity, persistency, expenses, discount rates 

  • Experience studies to support assumption governance

Asset-Liability Management (ALM):  

  • Cash flow projections and duration analysis 

  • Sensitivity and scenario testing (interest rate, lapse shocks) 

  • Support for capital and solvency monitoring 

Reinsurance Impact Analysis: 

  • Valuation of reinsurance recoverables under IFRS 17 

  • Impact of quota share / surplus treaties on liabilities and CSM 

  • Optimization insights from a valuation perspective (not structuring) 

Takaful & Retakaful Valuation Services 

Focus: Shariah-compliant frameworks and fund management. 

Frameworks: Family Takaful, General Takaful, and Retakaful. 

IFRS 17 / MFRS 17 for Takaful: 

  • Application of IFRS 17 to Takaful structures 

  • Modelling separation between Participant Risk Fund (PRF) and Shareholders’ Fund 

  • CSM and fulfilment cash flow calculations reflecting Wakalah/Mudharabah models 

Statutory & Regulatory Reporting: 

  • Compliance with Bank Negara Malaysia Takaful Operational Framework 

  • Valuation of technical provisions and solvency position 

  • Actuarial certification and reporting 

Technical Provisions & Fund Valuation: 

  • Valuation of PRF liabilities and surplus position 

  • Qard (interest-free loan) tracking and recoverability assessment 

  • Risk adjustment and liability adequacy testing 

Experience & Assumption Setting: 

  • Claims, lapse, and expense analysis specific to Takaful portfolios 

  • Shariah-compliant assumption setting frameworks 

Retakaful & Reinsurance Impact: 

  • Valuation of retakaful recoverables 

  • Financial impact of retakaful arrangements on PRF solvency 

  • Alignment of outward reinsurance with reporting requirements

Captive & Reinsurance Valuation Services 

Focus: Self-insurance, risk retention, and Labuan-specific needs. 

Target: Labuan Captives, Rent-A-Captives, and Corporate Self-Insurance units. 

IFRS 17 Valuation for Captives: 

  • Application of IFRS 17 to captive portfolios 

  • Measurement of insurance liabilities and reinsurance held 

  • Profit emergence and CSM analysis (where applicable

Statutory & Financial Reporting: 

  • Compliance with Labuan Financial Services Authority requirements 

  • Reserving opinions and financial statement support 

  • Capital adequacy and solvency reporting 

Liability Valuation: 

  • Best estimate reserves for retained risks 

  • Discounting and risk adjustment methodologies 

  • Claims projection and uncertainty analysis

Reinsurance Valuation & Optimization Insights: 

  • Valuation of inward and outward reinsurance treaties 

  • Financial impact of quota share, excess of loss, and stop loss structures 

  • Retention level analysis from a balance sheet perspective

Capital & Risk Monitoring: 

  • Stress and scenario testing 

  • Capital efficiency assessment under different retention strategies

General Insurance (GI) Valuation Services 

Focus: Short-term volatility, high-volume data, and tariff/non-tariff pricing.

Products: Motor, Fire, Medical, PA, Marine, and Engineering. 

IFRS 17 Valuation: 

  • Implementation of IFRS 17 for GI portfolios 

  • Premium Allocation Approach (PAA) and General Measurement Model (GMM) where applicable 

  • Liability for Remaining Coverage (LRC) and Liability for Incurred Claims (LIC) 

Statutory & Financial Reporting: 

  • Reserving in line with Bank Negara Malaysia guidelines 

  • Actuarial reporting and financial statement disclosures 

  • Reserve adequacy and regulatory compliance 

Claims Reserving (IBNR & IBNER): 

  • Deterministic methods: Chain Ladder, Bornhuetter-Ferguson 

  • Stochastic reserving techniques for uncertainty quantification 

  • Claims development and tail factor analysis

Assumptions & Experience Analysis: 

  • Loss ratio, claims inflation, and development patterns 

  • Expense and risk adjustment calibration

Reinsurance Impact Analysis: 

  • Valuation of reinsurance recoverables 

  • Impact of XoL, quota share, and stop loss treaties on reserves 

  • Net vs. gross reserve analysis 

 

Capital & Volatility Monitoring: 

  • Sensitivity testing and reserve risk analysis

  • Support for capital modelling and solvency assessment 

WHY CHOOSE US

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UNDERSTAND YOUR REQUIREMENTS

DATA & ASSUMPTIONS REVIEW

VALUATION & MODELLING

VALIDATION & GOVERNANCE

SUBMISSION SUPPORT

Align with local regulatory frameworks and client-specific needs

Ensure completeness, accuracy, and appropriateness

Perform actuarial calculations using robust methodologies

Independent checks and documentation

Assist with regulator queries and audit reviews

SUCCESS STORY

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CLIENT BACKGROUND

  • Regional insurer operating across multiple ASEAN markets

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Challenges

  • Different regulatory requirements across jurisdictions

  • Tight reporting timelines

  • Inconsistent internal processes

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SOlution

  • Centralised actuarial reporting support

  • Standardised valuation and reporting framework

  • Dedicated regulatory specialists for each market

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benefits

  • Improved reporting accuracy and consistency

  • Reduced turnaround time

  • Enhanced regulatory confidence

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