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The Actuary The magazine of the Institute & Faculty of Actuaries

Barrie & Hibbert picks up ARAG Solvency II task

Barrie & Hibbert will work on ARAG's internal model and on quantifying strategic asset allocation opportunities in a Solvency II environment.

Wolfgang Mathmann, head of group risk management at ARAG, commented: "A number of factors convinced ARAG that Barrie & Hibbert has the right solution for our business.

"Apart from the company's track record and reputation as the market leader in this area, we were particularly impressed by the dependency structure. The calibrations offered by Barrie & Hibbert extend across all economies in which ARAG has investments, so this too was an important selling point for us."

Thomas Gleixner, regional manager for Barrie & Hibbert, added: "We are delighted to be working with ARAG and welcome them as a new member of our German client group. ARAG's commitment to enhancing its asset and liability modelling capabilities is evident.

"At a time of high market volatility, insurers need realistic projections to manage their risk, whether they have partial or full internal models. In the run-up to Solvency II and beyond, Barrie & Hibbert's solutions will be instrumental in helping insurers manage that risk."

ARAG is the largest family-owned insurance company in Germany and one of the two largest providers for legal protection insurance worldwide.