It was a big year at McGing in 2023.
This year we helped our clients tackle a wide range of interesting projects; some highlights from the early months of the year included:
- Providing long-tail claims liability valuation and advice
- Providing IFRS17 / AASB17 implementation support for multiple insurers and friendly societies
- Providing a remediation methodology and calculations review for a large super fund
- Supporting the closure of a defined benefit fund and move to accumulation fund structure
- Supporting a large inter-state based superannuation fund in assessing and updating their processes to facilitate a move to forward unit pricing.
The later parts of the year saw different challenges for McGing, assisting our clients in areas such as:
- FUM projection and administration fee modelling for a large industry super fund
- Appointed Actuary year-end reporting work including Actuarial Valuation Reports and Financial Condition Reports for our Friendly Society clients
- Providing a cash flow review and asset consulting advice for a long service leave fund
- Producing independent expert witness reports and advice for class actions for multiple legal firms
- More IFRS17 / AASB17 implementation support work for our insurance and friendly society clients
Our team grew in size with the addition of Anisha Jain, our newest actuarial analyst. In her first few months, she experienced the opportunity to travel to India with Sean to support the strengthening of our partnership with Milliman India, which continues to expand our life insurance capabilities here in Australia.
We migrated offices to across the road; Neekhil became a father to his third child; promotions and actuarial exam successes were celebrated across the team, including our consultant Daniel Bartlett qualifying as an Associate Actuary.
Neekhil and I thank you for your support during the year. We wish you the very best for this festive season and we look forward to seeing you refreshed and ready for action in January.
Sean and Neekhil
Sean and the team at McGing Advisory & Actuarial provide a wide range of consulting services across superannuation, wealth management, life insurance, actuarial, risk management, investments, and governance.