Actuarial Function

Directive 2009/138/EC, of the European Parliament and of the Council of 25 November 2009 on access to insurance and reinsurance activities and their exercise (known as the Solvency II Directive), includes the requirements of the Government System which must achieve with the Insurance companies operating in the European Union.

The law 20/2015, of 14 July, of management, supervision and solvency of the insurance and reinsuring entities, comes to define as a system of government «the transparent and appropriate organisational structure, with a clear distribution and an adequate separation of Functions, an effective system to ensure the transmission of information, which ensures the safe and prudent management of the activity and the effective internal control mechanisms of an insurance or reinsuring entity, including the following fundamental functions: The risk management function, the compliance verification function, the internal audit function and the actuarial function. «

The insurance entities can develop the actuarial function either internally, or externalizing, requiring in both cases the corresponding communication to the supervisor.

In Meco Actuaries, we have a team of actuaries prepared for the development of the actuarial function in those insurers who opt for its outsourcing, both those entities of small dimension received to the Special Regime of Solvency II , such as those framed in the general regime.

In addition, for those entities with the actuarial function already defined and assigned, we offer our support, punctual or continuous, to the same as reinforcement in those fields in which our added value could be considered attractive.