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Actuarial, Risk and Quants

As one of South Africa’s largest actuarial practices, we have developed deep industry and technical knowledge across a broad landscape of industries. By building strong relationships with our clients and within the global PwC network, we ensure that we are always able to deliver insightful and relevant solutions to significant and complicated risks faced by our clients.

As ARQ, we are passionate about solving problems and building trust in society. We harness our deep industry experience and collaborate across our international network to develop innovative solutions for our clients.



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How we can help you

We predominantly cut across the insurance and banking value chains, supporting and/or leading our clients in a number of services. However, our reach does not stop there. We are a truly diverse team of problem solvers and are proud to offer our actuarial services to a number of other industries. Explore our actuarial services below.

IFRS 17 implementation support and managed services

IFRS 17 is a significant development in accounting that will have a fundamental impact on the methodology, process, systems, data and financial statements of insurance companies.

Our experience in IFRS 17 Solved dates as early as 2013, meaning that we are at the business end/final stages of implementation at a number of the largest insurance groups in Africa. This gives us a long track record of practical experience across all elements of the implementation journey, which you can benefit from. This includes not only the learnings/lessons obtained, but also tools and accelerators.

Our PwC IFRS17 Managed Service is a cost effective solution for insurers in our local markets - under this proposition PwC will run all the IFRS 17 calculations, perform checks/validations, investigate/interpret any discrepancies/ issues and provide general support to you on an ongoing basis. All of this is run on PwC's leading pre-built, cloud-based, operational and fully configured IFRS 17 solution.



Asset-liability management and balance sheet optimisation

Our deep industry knowledge, extensive experience and understanding of the regulatory environment offers us a unique ability to assist our clients with their asset-liability management (ALM), their hedging processes and related reporting exercises. We help our clients to understand the risks inherent in their frameworks and processes, and ensure that sound risk management practices are in place to identify, measure, monitor and control these risks.

Related to ALM is the broader practice of balance sheet optimisation. In the current economic environment, there is increased pressure on profitability. This places greater scrutiny on the use of capital resources. We can help you develop the strategic insights, capital efficiency and effective risk management that are critical to generating favourable and sustainable returns. We can also help you optimise capital management and turn new regulation to your advantage by making the most of opportunities for acquisition, divestment, run-off and restructuring. As an example – we advise insurers on investment strategy, reinsurance optimization and ESG.


Banking and capital markets

With the increasing complexity of both local and international banking landscapes, we offer bespoke services designed to inform and assure our banking clients on the financial risks they face in the current climate. We specialise in model risk, macro-economic considerations stress testing, credit and market risk, whilst keeping up to date with latest industry developments.


Mergers and acquisitions

The execution of business deals is complex, and those deals that do not achieve their original financial or strategic objectives are often as a result of the execution of the deal rather than the underlying strategy.

For business incubation, acquisition, divestiture and restructuring options, we can help our clients unlock value through pre-deal, deal and post-deal support services. By focusing on areas such as the debt and equity mix and options for new funding arrangements geared towards the most recent regulatory regimes, we can also help our clients explore options for risk mitigation and transfer through developing the most efficient and strategically effective capital structures.

By combining our expertise and experience with that of broader PwC teams, we will ensure that our clients do not leave value on the table.


Reinsurance optimisation

An ineffective or minimal reinsurance strategy can lead to insurers accepting more risk than their risk appetite allows for. Excessive or inappropriate levels of reinsurance cover could put insurers at risk of passing on too much profit to reinsurers. Through our market-leading expertise, experience and risk strategy, we help our clients to develop an optimal and tailor-made reinsurance strategy which aligns with their business strategy and risk appetites. 


Quantitative modelling, AI and valuations

Quantitative modelling is a practice that uses both mathematical and statistical techniques to understand the behaviour of complex, interdependent and evolving systems.

We can help you design, implement and validate cost-effective and well-governed modelling systems capable of providing insights for your business and sharpening your competitive edge. We help our clients develop effective end to end modelling and reporting solutions using the right tools for the job and capitalizing on the real value of AI within their organisations. This includes helping you to understand your business and technical requirements to ensure the technology solutions are robust, efficient, and sustainable.

We also assist clients with financial instrument valuations, as well as valuation of employee benefit schemes, share schemes and loyalty programmes.


Auditing and broader assurance services

Robust numbers are the cornerstone of any successful insurance business. Our market-leading experience, integration with audit and close links with regulators make us uniquely placed to provide assurance over your numbers and reporting systems.

Regulatory developments including SAM and IFRS 17 are heightening the risks of misevaluation and misstatement by demanding faster reporting turnaround and changing the basis for technical provision and capital calculations.

We are the leading provider of assurance and attest services in the South African insurance market. This includes validating numbers, reviewing reserving and capital requirements and advising on modifications and improvements.

Our assurance services are fully integrated with client audit and reserving support. Thanks to our global reach, we can provide assurance for all your international operations. Our close links with regulators allow us to provide practical advice on pragmatic tailored solutions for the regulatory changes ahead.


Reserving and capital management

Working with more insurers than any other local actuarial consultancy, we can assess your reserving against industry best practice and provide well tested solutions for improvement. We don’t just assess your numbers, but also assess other key aspects of your reserving including frequency, regulatory compliance and the quality of your people and processes.

Drawing on a combination of technical expertise and commercial experience, we can help you to assess the impact of your reserving on business development, pricing decisions and profitability. We can also help you cut through the complexities of new technical provision calculations and other pressing regulatory changes.

Our solutions are designed to be pragmatic, cost-effective and carefully tailored to the particular nature of your business and its corporate vision.


Actuarial digitisation and transformation

We believe that a company’s digital toolkit can be a vital source of competitive advantage. As such, we take pride in collaborating with our clients and leveraging our network globally and across industry to achieve this. We have a strong team, with sufficient capacity as well as the technology infrastructure to meet the growing demand from clients to outsource actuarial function activities.

Our Actuarial Managed Services platform allows you access to a range of digital cloud-based solutions to assist with, amongst other applications, insurance risk modelling, reserving, capital management.


People analytics

You need to keep pace with today’s dynamics. But you also need to plan for the future. We are uniquely positioned to deploy surveying, a breadth of analytical tools and predictive modeling which can all reveal real-time workforce insights to see ahead.

Discover the untapped power of your people data with our expertise, capabilities and latest technologies and algorithms.


Work with us

Are you passionate about using your analytical skills to hep society to better understand and mitigate complex risks? Would you like to own your career development in doing so?

Experienced hire opportunities Graduate opportunities


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Contact us

Christiaan  Nel

Christiaan Nel

Partner, PwC South Africa

Tel: +27 (0) 21 529 2519