3. 1. What Is AREA XXI? AREA XXI is an actuarial consultancy headquartered in Madrid, with a network of 40 independent, self employed consultants in 16 European and Latin American countries. We undertake work for a wide variety of clients in many markets. In Latin America clients include the local subsidiaries of some of the largest Spanish banks and insurers as well as one of Europe´s largest reinsurers. In Spain and elsewhere in Europe clients are generally 2 nd tier smaller insurers and also leading auditors and reinsurance brokers. AREA XXI believes it offers a considerably better deal to clients than its competitors. Unlike the major consultancies, we do not have a huge legacy cost structure, nor huge overheads. Our flexible structure enables us to offer services at the highest quality standards but at more affordable prices than our competitors. In today’s environment where control of expenses is ever more important, we believe this is a significant factor for companies to consider.
4. 2. What Can We Do For You? Solvency II Solvency II is now an inescapable issue for all insurers operating within the EU, including captives, direct insurers and reinsurers. As Solvency II is due to come into force within a few years, now is the time to start making plans for its idiosyncrasies if these have not been already made. Solvency II consists of a wide ranging carrot and stick approach according to the composition of an insurer’s book of business, the reinsurance arrangements in force, the nature of its assets, etc. Many insurers will be forced to make important changes in their businesses to avoid the penal provisions of Solvency II if they wish to continue to meet regulatory requirements regarding capital adequacy. Many of these changes cannot be made overnight - or rather they can be made overnight only at high cost, for example the sale of a property or changes in reinsurance arrangements. It is highly preferable to know about such matters well in advance to allow time for planning. Accordingly, AREA XXI advises all clients to submit their data through the CEIOPS QIS4 spreadsheet, even if they do not wish to participate in the CEIOPS survey itself. AREA XXI have consulting actuaries with ample experience in this task for both life and non-life companies.
5. 2. What Can We Do For You? Actuarial Services AREA XXI has helped its clients with many actuarial topics such as the design of entity-specific mortality tables, European Embedded Value calculations, Asset and Liability Matching, life and non-life pricing and reserving, design of reinsurance policies and more. Our actuaries will surely be able to help you with any actuarial tasks you need done. Non-Actuarial Services AREA XXI’s network of professionals can help you adapt your existing systems to deliver new information required, train your employees in Excel and Visual Basic, design queries, perform audit data, design macro-powered automation of tasks, illustration systems, etc. Our professionals can help you maximise the value of your portfolio of policyholders’ by designing a Customer Relationship Management program for your business. We are very experienced in process engineering, risk management, designing and performing internal audits and internal risk monitoring. AREA XXI has helped some of its clients to obtain regulatory approval to operate in different jurisdictions. We have wide experience in the assessment and management of operational risk.
6. 2. What Can We Do For You? Interim Resourcing AREA XXI offer companies the possibility to draw upon our wide range of consultants for project work and for projects in out of the way places.
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9. 4. Contact Us AREA XXI Analysis de Riesgo para Entidades Aseguradoras Ayala 11 28001 Mardrid Santiago Romero Tel 00 34 649 260484 Mail To: [email_address] Paul Dixon Tel.: 00 34 618 012239 Mail To: [email_address]
10. AREA XXI AREA XXI collaborates with OPERACIÓN 10, a Non Governmental Organization that gives support to disadvantaged children in Bolivia and El Salvador. It also manages projects of social insertion in Spain. www.odiez.org
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