Our Team of actuaries (actuarial firm) was set up in 1985 with the intent of providing complete actuarial solutions tailored to the requirements of its clients. The actuarial firm is focused on providing consultancy to clients seeking actuarial services in the areas of Employee Benefits (including Pension Schemes). With the passage of time and changing market dynamics, the Firm has been able to successfully diversify and venture into new areas by acquiring the required expertise. The Firm now provides comprehensive services in the area of Banking, Insurance and Takaful operations with a well spread out clientele. In the span of 37 years, the Firm has been able to build up a sizeable client database of over 600 companies spread over Saudi Arabia, UAE, Pakistan, India, Kazakhstan, Kenya and Uganda etc.
The experienced team, armed with up-to-date knowledge of changing legislation and reporting requirements, is able to provide comprehensive and effective advice to organizations that either wish to introduce, or already have Employee Benefit Programs (such as Pension, Gratuity and Post-Retirement Benefits and Leave Encashment schemes etc.) in place. The team is well-versed in compliance requirements of various local and international laws underpinning benefit schemes and their administration. As such, our expertise lies in carrying out actuarial valuations of existing post retirement schemes to assist companies in preparing Financial disclosures as per IAS 19, US-GAAP, IPSAS-25 etc.
Especially with an increasing number of companies adopting International Financial Reporting Standards (IFRS), our team is well equipped to assist the transition process in respect of International Accounting Standard 19 (IAS 19).
Few noticeable clients for actuarial valuation within GCC including Saudi Arabia includes the following:
- Saudi Aramco Shell Refinery Company (SASREF)
- Petromin Corporation
- Gulf Stevedoring
- Sahara Petrochemicals
- Red Sea Housing Services – UAE/KSA
- Turner International (Qatar, Middle East & KSA)
- Al Raya for Food Stuff Company – KSA
- Al Majdouie Holding Company – KSA
- Kuwait Food Company (Americana) – KSA
- Saudi Global Ports – KSA
- Le Meridien Hotels – KSA •
- Al-Khobar Movenpick Hotels – KSA
- AlBaik Group – KSA
- Wallan Group – KSA
- Rawabi Holding Company – KSA
- Al-Toukhi Company for Industry, Trading & Contracting – KSA
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