UK general insurers grapple with actuarial demands

Smaller firms struggling to meet requirements under Solvency II

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UK general insurers are under pressure to improve their actuarial functions before the implementation of Solvency II, with many smaller companies behind on their compliance schedules, according to experts.

General insurers have not been required previously to maintain a formalised actuarial function, unlike life insurers for which it has been mandatory since Solvency I came into force.

Christopher Critchlow, consultant actuary at OAC in London, explains: "Non-life insurers have never had this re