Appointed actuary duties require solvency oversight, fair pricing, reserve certification, risk management, and regulatory escalation.

Appointed actuaries of an IIO must maintain solvency, advise on product design, pricing, investments and reinsurance, ensure fair premiums and adequate reinsurance, and support risk management. They must certify actuarial reports, assets, liabilities and mathematical reserves, while ensuring appropriate methodologies, assumptions and data for reserve calculations. They must inform the Board of unreliable or inadequate reserves and matters requiring action, and directly report legal, regulatory or professional-practice non-compliance. Additional duties address life insurance bonuses and surplus distribution, and actuarial liabilities and reserves for general and health insurance.

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