AADB Investigating Actuaries in Relation to Equity Syndicate Management Limited
The Accountancy and Actuarial Discipline Board (AADB) has launched an investigation under its Actuarial Scheme into the conduct of members of the Institute and Faculty of Actuaries in connection with actuarial advice provided to Equity Syndicate Management Limited which is managing agent and a corporate member of Lloyds Syndicate 218, trading as Equity Red Star.
The scope of the investigation covers the provision of actuarial advice to Equity Syndicate Management Limited (ESML) by Members in relation to ESML’s reserving for Lloyds Syndicate 218 between 2007 and 2009.
The AADB’s decision to initiate an investigation was taken following consultation with the Institute and Faculty of Actuaries.
The AADB is independent of the professions it disciplines and operates in the public interest.