BDO launches Guernsey actuarial practice

BDO in Guernsey has launched a new actuarial non-life offering to Guernsey-based captive insurance managers as it expands its range of services.

A recent merger between Moore Stephens and BDO in the UK has given BDO in Guernsey access to an actuarial practice consisting of ten non-life actuaries.

The team has detailed knowledge of the insurance industry gained through years of consulting with insurance companies, captive managers and Lloyds’ syndicates across a range of projects.

Nathan Hodder, Audit Director at BDO and Sector Head of Insurance in Guernsey, said that the move enhances the service lines available to Guernsey-based captive insurance managers.

“We’ve had a really positive welcome from captive insurance managers in Guernsey who are excited to have a new choice in this market. Insurance is such a vital sector in the island and we wanted to offer our financial services expertise into a specialist growth area.”

BDO’s insurance team recently presented to local insurance managers about the new accounting standard for insurance – IFRS 17 – and were joined by Rob Murray, Partner at BDO in the UK and Head of Actuarial.

Mr Murray’s team of qualified actuaries, data scientists and risk and capital experts provides a wide range of actuarial advice and support and will work closely with BDO’s team in Guernsey.

The award-winning team, who has been recognised in UK and European captive awards as accounting specialists, brings expertise that will certainly benefit the Guernsey market, where more than 20% of the UK FTSE 100 have captives domiciled.