If the worst was to happen, what would be the financial impact? And how much money would we need to cover it? Our Corporate Actuarial teams use a wide range of skills, tools and information to calculate the risk involved in any given policy – and ultimately a potential claim.
The value they give to this risk, or more precisely, the money needed to cover it, is called a reserve – and can run into £billions. This scale has a huge impact on the financial reports of our business, and plays a critical role in understanding and measuring our profitability. Working closely with other financial areas of our business, we report these figures to the Board and external parties, such as the insurance regulator.
Supporting some of the UK’s most recognisable brands, we use market-leading techniques designed by our very own actuarial community.
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