In May 2017, the first Solvency and Financial Condition Reports (SFCRs) were published for year-end 2016. The SFCRs contain a significant amount of information, including details of the company’s performance over the reporting period, systems of governance, risk profile, valuation basis and capital requirements. This report by Milliman consultants is a summary of the SFCRs for the main players in the life, non-life and health insurance business in Belgium, focussing on a subset of insurers in the Belgian market.
An actuary can evaluate the current financial implications of future contingent events, and this enables them to consider actuarial approaches outside the financial industry, as in the nuclear waste sector. In Belgium, Milliman assisted the governmental institute NIRAS, which is responsible for the collection of highly radioactive waste from nuclear power plants. Milliman applied existing life insurance software to project planned cash flows and their security margins and performed market-consistent, risk-neutral valuations as well as real-world projections. Milliman consultant Kurt Lambrechts offers perspective in the April 2016 issue of The European Actuary.