SERVICES

Studio Attuariale Orrù e Associati is proud of its vast experience in the social security sector, relating to pension funds, social security institutions and social security funds for professionals; within this sector, the firm specialises in the preparation of and review of actuarial reports, in the conversion and winding up of old funds and in the provision of actuarial forecasts for new funds, focussing above all on financial investments.

The work carried out by the firm extends to pension fund internal control, valuations required in the event of a merger between credit institutions and, therefore, between pension funds, an analysis of the effects on pension funds of early retirement incentives or of changes in the law and advice in general on the interpretation of and amendments to regulations, laws and by-laws regarding basic state pensions and supplementary pensions.

The firm's professional competence extends to the insurance sector, dealing with the authorisation of the business of new companies, certifying accounts, internal control, the design of new products, the valuation of company portfolios, the setting up of software the IT management of quotes by agencies and Asset Liability Management. In particular, the firm offers advice in connection with life insurance and agricultural risks (crop hail insurance line) along with portfolio evaluations and related rating plans.

Just as important is the firm's experience built up from 2003 onwards in carrying out valuations in accordance with the IAS/IFRS international accounting principles, following the introduction of the obligation on all companies in European Union member states whose shares are traded on a regulated market to produce, as from 2005, financial statements and consolidated accounts in accordance with the aforementioned principles. In this context the firm has, over recent years, provided advice and assistance to numerous businesses in the sectors of banking, industry and insurance as well the new economy sector, in providing valuations of all benefits provided to employees, being managers, consultants and agents (severance pay, seniority bonuses, performance bonuses, one-off benefits, etc.).

Finally, a description of the work undertaken by the firm would not be complete without mentioning the provision of advice concerning valuations of personal financial losses including future lost earnings, the carrying out of market research and opinion polls, contributions to social security research projects, establishing the financial effects of new welfare legislation, research work in connection with the establishment and management of supplementary health care funds, acting as expert witness in court on actuarial and statistical issues and the provision of technical advice in connection with the preparation of tender processes and specifications connected with the selection of a finance manager for pension fund assets.