Partners brings in actuarial expert

It has brought in highly experienced Appointed Actuary (AA) Kate Dron.

Appointed Actuaries have a critical legislated role in the insurance industry to measure and report on material risks that can threaten the financial condition and solvency of an insurer, the Reserve Bank said when it conducted a thematic review of the Appointed Actuary role last year.

"Importantly, the role also entails providing impartial advice to an insurer’s board of directors and senior management to assist with sound decision making. This support can greatly strengthen an insurer’s risk and capital management and lead to the increased security of policyholders," it said.

in its report it recommends "the Appointed Actuary considers policyholder interests and communicates these when relevant in providing advice.”