Global Actuarial Function

The Global Actuarial Function was established in GSC, Kolkata in January 2007. It has been created to provide actuarial services to the various insurance entities within the HSBC Group across the globe.

The current (Sept 2008) actuarial functions, carried out include:

In respect of HSBC Life (UK) Ltd:

• Experience Analysis: Lapse, mortality, critical illness and income protection analysis
• Reports on quarterly stress testing, liquidity reporting
• Profitability and solvency monitoring
• Regular variation runs and data/checks around these runs
• Routine system changes and testing
• Customer quotation and illustration work
• MI production and reinsurance

In respect of HSBC Life (Europe) Ltd: All actuarial functions

In respect of HSBC Life (Malta) Ltd: All actuarial functions