PwC Bermuda has expanded its life actuarial services as the island continues to cement its position as a leading hub for the global life reinsurance market.

The move comes amid strong growth in the sector, with the Bermuda International Long-Term Insurers and Reinsurers now representing more than 70 companies managing over $1 trillion in life insurance reserves.

By strengthening local expertise, the firm said it aims to help companies manage risks, optimise capital and improve performance. PwC’s expanded services include Scenario-Based Approach model validation, Approved Actuary mandates, Bermuda Solvency Capital Requirement support, capital modelling, pricing, deals and internal audit.

Damian Cooper, partner at PwC Bermuda, said: “The global life reinsurance market presents vast opportunities, and Bermuda remains at the heart of this expansion. By strengthening our capabilities and specialised actuarial knowledge and skills, we can help to ensure sustainable growth and innovation within Bermuda’s thriving life reinsurance landscape.”

The firm said its focus on actuarial services is being driven by rising demand for asset-intensive life reinsurance, regulatory evolution, more sophisticated risk modelling and the need for tailored solutions.

“As the life reinsurance market in Bermuda continues to mature and expand, we are excited to enhance our services and expertise to better serve our clients,” added Jignesh Mistry, director at PwC Bermuda. “Our strengthened actuarial capabilities are key in supporting innovative solutions and strategic growth.”

PwC’s life reinsurance and actuarial teams will take part in the Bermuda International Life and Annuity Conference, to be held Monday and Tuesday.