Nimay Radia

Background

About Nimay Radia

I am a fully qualified actuary and a Fellow of the Actuarial Society of South Africa (FASSA). In my current role at Discovery Limited, I specialize in executing strategic projects for the group and supporting some of the key priorities of the Chief Actuary & CEO. My key focus areas are the monitoring and management of Vitality and the shared-value model on the balance sheet, as well as producing and analyzing the annual and half-yearly earnings of the company (AOS). Other projects are driven by these insights, with the aim of optimizing earnings and guiding the long term strategy of the business. Prior to this, I worked at PricewaterhouseCoopers (PwC) Johannesburg for 6 years, in the 'Actuarial, Risk and Quants'(ARQ) team within Financial Services. As a manager within the actuarial team at PwC, I serviced a variety of clients in both a consulting and auditing capacity with a focus on life insurance. I also gained experience in healthcare, investments, employee benefits, non-life insurance, banking projects and models, and research and survey work. My clients included some of the larger life insurers in South Africa as well as smaller developing businesses and medium-sized insurers locally and in Africa. Through my experience, I have developed strong technical and interpersonal skills. I have also developed a deep understanding of both the asset and liability side of the balance sheet, asset and liability valuations for insurers, embedded value, solvency and capital requirements, as well as the various areas of market and non-market risks. Managing the actuarial part of the audits of many local and African life insurers has given me key insight and understanding of these businesses, as well as the life insurance industry as a whole. I have a keen interest in investments and asset management, and my own investment portfolio. In addition to specialising in life insurance, I completed the 'Finance and Investments Specialist' board exam as part of my actuarial qualification. I was also recently elected as a board member for an investment group 'Elfin Investments (Pty) Ltd’.