With-Profits Actuary (WPA) to the transferee, advising on the fairness of a proposed Part VIII transfer involving with-profits, non-profit and unit-linked business.
With-profits transaction support with two established Friendly societies
The Role
The Question
Were the proposals fair to existing the transferee’s with-profits policyholders, consistent with the PPFM, and properly reflected in the Scheme, actuarial evidence and member communications?
The WPA Lens
Focused review of estate support, capital strain, bonus discretion, policyholder expectations, fund governance, nil-estate funds and safeguards for the transferring with-profits funds.
The Board Value
Clear judgement, challenge and evidence to support a robust WPA opinion and help the Board understand the with-profits implications of the transaction.
The Outcome
A structured, well-evidenced assessment of fairness for existing with-profits policyholders, supporting clear Board and stakeholder engagement on the issues most relevant to policyholder protection and ongoing with-profits governance.