We
provide Actuarial, Benefit & Compensation services
in
the continent of Africa.
Objective Method Scope Clients Associates Future Enquires
Our Objective
o
is to foster an
interest and awareness in the benefits that actuarial and related skills can
bring to the African continent. Actuaries make financial sense of the future by
assessing the financial impact of tomorrow’s uncertain events. They enable
financial decisions to be made with more confidence by analysing the past, modelling
the future, assessing the risks involved and communicating what the results
mean in financial terms.
Our Method
o
is to register local
companies in the countries where an actuarial spark has been kindled, usually
in partnership with citizens of that country and, by providing marketing and
backup assistance, encourage the growth of these local companies. Currently we
have companies operating in five African countries and another three in embryo
which hopefully will come on stream during the next year or two.
Our Scope
o
is wide since amongst
our existing Associates there are at present six qualified actuaries whose
collective experience has covered virtually every facet of actuarial activity.
Accordingly, if a project or a particular piece of advice is outside the
experience of the local actuary, then he involves his colleague from another
Associate whose experience is more appropriate. This also applies if we are
asked for help and advice in a country where we have not as yet set up a local
company. In fact this is normally the way new Associates are formed by catering
for known client needs rather than for anticipated ones.
Our Clients
o
can be divided into
three main groups, together with the related services.
Employers
We provide
employee benefit and compensation advice to any organisation with employees,
whether within the public or private sectors, multi-national or local,
corporate or partnership. We seek to provide the balance of skills to
supplement those already available in house but, if required, can provide all
services.
Our advice
covers
o
design and
implementation of suitable benefit and compensation packages including
integration with Social Security arrangements
o
comparative studies
o
costing and advice on
suitable contribution rates and the provision of regular valuations covering
solvency and any necessary adjustments to contribution rates contained in
actuarial reports written to comply with internationally agreed standards
o
the establishment and
maintenance of the legal background to the chosen package, together with all
necessary documentation and employee communications
o
for funded
arrangements, the setting of investment objectives, the appointment of investment
managers and the monitoring of their subsequent performance against the agreed
objective
o
the design,
installation and operation of appropriate administrative procedures to provide
the agreed packages
Savings and
Insurance Providers
We can provide
help in monitoring controls or in product development for organisations which
seek to encourage saving or the provision of protection against risk. This
covers Life Assurance companies, General Insurance companies, Friendly
Societies, Building Societies and Saving and Loan associations. We can provide
valuations as prescribed by local legislation and good practice, provide help
in pricing portfolio management and the processing of managerial information.
For general insurers we can help in the estimates of their claim reserving, the
rating of insurance products and the assessment of reinsurance requirements.
Governments
In addition to
their role as employers in the public sector (services set out above) we can
also assist Governments in assisting and managing their country's Social
Security arrangements as well as setting up and carrying out statistical
exercises to provide managerial information. The Social Security arrangements
can cover the entire range from Provident Funds and Pension Schemes, to Disability
and Health Care, Unemployment and Workmen’s Compensation benefits.
Our Associate Companies
Kenya
Bisset Rogers
Limited
P O Box 61402
3 Bima Court
Riara Road
Nairobi
Telephone: 254 2
565 886/7
Facsimile: 254 2
565 894
Main Contact: Ian
Bisset
Ian, a qualified
actuary with 25 years previous experience as a Life Office Actuary, has been
operating as a Consulting Actuary in Kenya since 1985. His work is almost
equally divided between employee benefit advice for corporate employers and
managerial and valuation advice to insurance companies although he has also
carried out several projects for the Kenyan government.
South Africa
Richart Actuarial
Services c.c.
P O Box 10885
Steenberg Estate:
7945 CAPE
Telephone: 272 1
712 5624
Facsimile: 272 1
712 5624
e mail: h2hcc@global.co.za
Main contacts:
John Rich, Anthony Hart
John and Anthony
have both worked for Consulting Actuaries, Insurance and Reinsurance companies.
On retiring from full time employment, they both formed actuarial consultancy
companies and in 1997 formed Richart Actuarial Services cc to make their
services jointly available as an Associate. They have both been President of
the Actuarial Society of South Africa, President of the Insurance Institute of
South Africa and have a wide knowledge of the South African financial markets.
Uganda
Callund Consulting
(Uganda) Limited
P O Box 22534
Kampala
Telephone: 256 41
286 090
Facsimile: 256 41
286 090
e mail: callund@imul.com
Main Contacts: Tim
Sharples, Nick Callund
Tim Sharples, a UK
based Consulting Actuary, has been providing actuarial and related services to
two large clients in Uganda for 10 years. To take advantage of the many other
opportunities, a local company was formed in 1996 managed by Nick Callund, a UK
expatriate who has decided to make Uganda his home. The two of them now provide
a full range of employee benefit services to a steadily growing number of
clients. They are supported by Callund Consulting (UK) Limited, a firm that
specialises in international consulting benefit advice, particularly in Eastern
Europe, Russia and its former republics and in South America.
Zambia
J M Actuarial
& Management Services Limited
Tazara House
Independence
Avenue
Lusaka
Telephone: 260 1
228 339
Facsimile: 260 1
226 947
e mail: jmas@zamnet.zm
Main contacts:
John Rogers, Max Sichula, David Kambe
John, a UK based
actuary, has been involved with providing actuarial services to Zambia for 20
years. In 1992 he and Max Sichula, the Director of Human Resources with the
Zambian Copper Mines until his retirement in that year, set up the company to
offer a wide range of benefit and compensation services in Zambia. In 1998 they
were joined by David Kambe, the former General Manager, Life and Pensions, of
the Zambia State Insurance Corporation to assist in developing the company.
Their main work has been in benefits advice for employees but they have done a
few compensation studies and also carried out projects for local insurance
companies.
Zimbabwe
Pentact Limited
ZTA House
95 Nelson Mandela
Avenue
P O Box CY 1959
Causeway, Harare.
Telephone: 263 4
731 582-4
Facsimile: 263 4
704 596
e mail: pentact@id.co.zw
http://www.id.co.zw/user/pentact/index.htm
Main contacts:
Mark Hyde, Linda Hyde
Mark, a qualified
Actuary, has been living and working as a consulting actuary in Zimbabwe since
1983. Prior to that he was with an employee benefit consultancy in the UK.
Linda has passed most of the actuarial examinations and has been involved with
the company from its outset. Most of the work is to provide traditional
actuarial and employee benefit advice to corporations, but a growing amount of
time, in liaison with Richart, our South African Associate, is involved with
providing advice to Life Assurance companies and other financial service
providers.
The Future
o
is a commitment to
build up and enhance our existing Associates and to start up similar Associates
in other African countries as and when the needs and opportunities arise. We
are currently involved I assessing the opportunities in Cote d’Ivoire, Malawi
and Nigeria.
Enquiries
o
further information on
Kenya, South Africa, Uganda, Zambia, and Zimbabwe should be obtained from the
local Associate. For other African countries or any general queries you should
contact:
John
Rogers
PO
Box 120
Sevenoaks
TN14
7ZX
UK
Telephone:
44 (0) 1689 857209
Facsimile:
44 (0) 1689 857
Email: aaa.ltd@dial.pipex.com
If it is Africa - we are the people you need