![]() “The nice thing about the merger is that the two companies do different things in different actuarial fields, so there are no retrenchments, or closing of offices – it really is a pure merger that will generate synergy. This, combined with the fact that the firm is committed to playing an independent but supportive role to retirement funds and advisors, and the fact that they have significant African experience between them make them an appealing alternative to other large groupings of actuaries who are in the main “attached” to firms who provide fund investment advice as well. Through Argen, both companies will be able to offer a broader pool of actuaries and a wider range of services. Its flexible, independent team of actuaries provided pension fund services, but also became expert in individual calculations for Road Accident Fund claims amongst others, and in providing outsourced support for administrators and other actuarial firms as required. Francois Rosslee and Tommie Doubell established Genesis in 2000, originally to provide actuarial calculations for the United Kingdom Pensions Review. Started in 2004 by Arthur Els, one of only a few Certified Enterprise Risk Actuaries in South Africa, AE&A specialised in the valuation of retirement funds, preparation of accounting disclosure for companies' employee-benefit arrangements, asset-liability modelling, providing actuarial services to retirement funds and enterprise risk management. On 1 March 2014, independent South African actuarial firms Arthur Els & Associates (AE&A) and Genesis Actuarial Solutions merged to form ARGEN Actuarial Solutions – two specialist actuarial companies coming together to create one of the largest independent actuarial firms in Africa. The merger of two complementary mid-tier South African firms into ARGEN Actuarial Solutions has created a new large actuarial firm with some appealing features. Given our independence and high-caliber staff, we can also perform peer-reviews of other companies’ actuarial work.Arthur Els, Managing Director of ARGEN and Thulani Nxumalo, Chairman of ARGEN. Acting as expert witness in retirement fund matters.This includes Section 197 transfers, Section 14 transfers, mergers and acquisitions, post‑retirement medical aid subsidy buyouts, pensioner outsourcing and conversions from defined benefit to defined contribution funds. We have considerable experience in complex employee benefit changes.We use the ALIS Stochastic Modelling suite of programs for asset liability modelling.These allow retirement funds to set investment strategies that are appropriate to their liabilities and to the level of risk that the fund is willing to take. We perform asset liability modelling exercises.Independent peer-review service to other actuarial firms.We are often the actuary to the actuaries, other service providers and administrators in the retirement industry. A wide range of potential actuarial support roles can be offered.We have a proven track record to conclude complex liquidations within the shortest possible timeframes, to the benefit of all stakeholders.Company accounting disclosures (i.e., IAS19/GRAP25 disclosures).Individual member benefit calculations, pension increases, benefit design and costing.All statutory functions and advice to boards of trustees, including defined benefit and defined contribution valuations.We provide specialist and high-level actuarial solutions in the following areas: Retirement Solutions Our large, experienced, independent and BEE-enabled actuarial team is one of the best in the country.
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