What we do

We facilitate in identifying and measuring the risks faced by corporations and individuals and providing solutions and strategies to manage and mitigate those risks. Our core business includes actuarial valuation of End of Service Benefit Schemes consistent with the requirements of IAS 19. We provide appointed actuary services to life and general insurance and takaful companies. We also provide our valuable services on employees share option schemes. We also assist our clients in implementation of IFRS 9 and 15, with specific focus on developing a robust actuarial model for estimation of Expected Credit Losses.

The Profession

Actuaries apply financial and statistical theories to solve real business problems. These business problems typically involve analysing future financial events, especially when the amount of a future payment, or the timing of when it is paid, is uncertain. A lot of actuaries’ work might be thought of as ‘risk management’, assessing how likely an event may be and the costs associated with it. The traditional areas in which actuaries operate are: consultancy, life and general insurance, pensions, and investment. Actuaries are also increasingly moving into other fields, where their analytical skills can be employed.

Our Vision

Integrity and professionalism has earned us respect and name in Kingdom of Saudi Arabia as one of the leading locally registered actuarial consulting firm. We believe in superior customer service which our employees have practiced over the entire history of the firm. Providing services up to the client’s satisfaction is the key to our success. Maintaining our professional values, we aim to engage with foreign clients and explore Asian market along with providing the excellence of service to local clients. We are determined to hire and polish young talented students to add assets in the small actuarial community of KSA.

Our Services


Our professional team includes qualified and experienced actuaries to serve as appointed/consulting actuary for Life Insurance and Takaful Companies. We proudly serve leading Life Insurance and Takaful Companies to help them prosper.


As financial models become ever more complex, the need for a rigorous and independent review of the model becomes ever more important. We know that each project represents a particular set of challenges and risks and our approach is tailored to meet your particular needs.


We have a strong background in valuation of End of Service benefit schemes with almost 200 clients in the KSA. Our team of expert staff understands the client's requirements and has a strong grip of local and accounting regulations pertaining to the employee benefits.


It is the new accounting regulation Issued by the IASB that is applicable to insurance companies. The standard will fundamentally change the financial reporting for insurers. We hold a unique position in implementation of IFRS 17, with prior experience in implementation of IFRS 17 and Solvency II in the International Market.


Our experienced team of specialists is skilled at providing actuarial services to our clients in areas such as claims valuation, pricing, reserving, capital, expense, and profitability analysis. Our combination of highly qualified and fully experienced professionals allows us to add depth and value to our clients.


It introduces an Expected Credit Loss (ECL) model for recognition and measurement of impairment losses of financial assets. ECL calculations are complex and require a strong financial modeling expertise. Our experience across multiple jurisdictions ensures that we provide you with in-depth results.

We provide a mixture of Actuarial and other complemnting services to ensure that you get a complete well rounded package. No matter how big you are, public or private, and in what industries or sectors you do business, we can help you work smarter and reach your goals.

Meet Our Team

Our Team consists of experienced, diverse and committed professionals who understand the importance of working in cohesion with our clients to create the best solutions. To view our entire team please click here.


He became a Fellow of the UK Institute and Faculty of Actuaries in 1963, and was awarded the Sir Joseph Burn Prize. His long experience in life insurance led to his appointment as Chairman and CEO of the State Life Insurance Corporation of Pakistan, from 2000 to 2003. Reforms introduced during his tenure resulted in considerable increase in new business and persistency, which have continued till now.

Shujat Siddiqui

He became a Fellow of the UK Institute and Faculty of Actuaries in 1976. He is presently the Appointed Actuary of State Life Insurance Corporation of Pakistan, Dawood Family Takaful Limited, TRL Life Insurance Limited (formerly Asia Care Health & Life Insurance Company Limited), Askari Life Assurance Company Limited, and 101 Life Insurance Company Limited.

Faisal Haroon Zia

He became a Fellow of the UK Institute and Faculty of Actuaries in 2003, and a Fellow of the Royal Statistical Society in 2015. He has a BSc in Actuarial Science from the London School of Economics and Political Science, an MSc in Applied Statistics and Mathematical Finance from the University of Oxford. He is currently assisting a large UK insurance company in implementing IFRS 17.

The actuarial consulting services offered by Alkhwarizmi helps solve the many complex and challenging problems facing a diverse base of life, health, and property-casualty insurance industry clients, including insurers, reinsurers, banks, regulators, investors, and corporations. We serve our clients by delivering the specialized expertise, experience, and technical and leadership skills of credentialed professionals to help resolve disputes, perform due diligence reviews, measure and manage risk, improve operations, optimize opportunities, and increase shareholder value.


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