Profile
Berrybright Company Profile
Berrybright Limited is a Ghanaian Actuarial Consultancy firm registered on 2 May 2017. It has two directors and twelve staff members. Since its inception, the firm’s primary work includes:
- Actuarial Services
- Financial Engineering
- Insurance
- Pension and Annuity
- Risk Management
- Research and Training
- IT services
Past Experience
In the past, Berrybright has reviewed the Assets and Liabilities of a pool of insurance companies in Ghana to register the entity as a legal liability company and admit new members to the pool. Berrybright Limited assisted in determining the asset and liability (including equities) valuations and allocating them to the entity’s existing members. In addition, Berrybright Limited performed the following activities:
- Advised the entity’s Board of Directors on the allocations of the assets and liabilities of the pool’s fund.
- Advised on the conduct of the investigations required to perform the valuations.
- Advised on setting up a new fund for the pool based on the percentage allocations of existing and other new members.
- Made recommendations on the distribution of profits to members of the pool.
Berrybright Limited also quantified the value of a company’s Defined Benefit (DB) Pension Scheme and the Long Service Award and detailed the value of its liabilities and assets to back the DB plan liabilities. The engagement included the following:
- Determination of the provision in the Company’s account for the pension benefits and certification of the adequacy of the provision;
- Advice on the conduct of such investigations as are required to perform these valuations;
- Advice on the set up of a fund for current permanent staff members and any new employees in the future;
- Advice on an appropriate contribution to be made by the Company on behalf of the staff members;
- Recommending how the provision should be determined going forward.
