Rachel Chen

Rachel is a manager in the actuarial and insurance practice of Deloitte Consulting specializing in general insurance based in Hong Kong. She has worked in the insurance industry for over seven years across United Kingdom and Asia Pacific. She specializes in actuarial reserving, capital modelling and is involved in multiple IFRS17 projects. Before joining Deloitte Hong Kong, Rachel has worked for syndicates in Lloyd’s London. 

Professional Experience

IFRS 17

• Rachel has led IFRS17 technical assessments for multiple general insurers in Hong Kong. These projects involve assessment on various GI related topics from the perspective of operational complexities, technical alignment and financial implication, with the purpose to conclude key accounting positions for the clients.
• Rachel has led the actuarial model development and PAA eligibility test ensuring compliance with IFRS17 standard.
• Rachel was involved in multiple IFRS17 assessments on business operation and financial impacts, advising the clients on operational model designs and implementation roadmap.

Other Actuarial Experience

• Reserving- Conducted quarterly reserving for various lines of business as in house actuary ensuring compliance with local statutory requirements. Performed independent reserve review for multiple general insurers and reinsurers, as well as actuarial audit. Clients served include multiple general insurers in Hong Kong, mainland China and UK.
• Actuarial model development – Participated in actuarial model development to be used in reserving, stochastic calculation for capital requirements and parameterization of key assumptions. Familiar with ResQ, Igloo, Remetrica and Moses.
• Capital Modelling – Involved in calculation for solvency capital to be in line with Solvency II requirements. Analysed the capital impact of different reinsurance structures and asset mix in order to assist firm in reinsurance purchase and asset allocation decision. Participated in the quantitative assessment of the net risk exposure.
• Financial Projection – Generated 3 year business plan for clients including forecast of income statement and financial balance sheet.
• Functional testing – Participated in functional testing for with profit products (life insurance) to ensure that the valuation done in Moses is sound, accurate and appropriate.