NMG Consulting holds reception for clients to mark anniversary

NMG Consulting held a private drinks reception for its clients at the Colombo Swimming Club recently to celebrate its 25th anniversary.
NMG Consulting is part of the NMG Group, a privately held company, focused exclusively on non-banking financial services and wealth management. NMG Group has over 1,000 employees, spread across offices in 18 cities, on five continents and was established in 1992.
NMG Consulting has been providing advisory services to the Sri Lankan market since its inception. However, over the last 10 years the scope of services has expanded and NMG is now the largest supplier of general insurance actuarial advisory services in the market. The team currently calculates the value of reserves required for 12 of the 15 general insurers in the country as well as providing strategic advisory services to banks and conglomerates.
Two of NMG’s partners, Matthew Maguire and Roshan Perera, hosted the event with leading members of the Sri Lankan insurance industry, including Managing Directors and CEOs of virtually all of the general insurance providers in Sri Lankan market in attendance.
Roshan Perera provided a welcome address and an overview of the firms’ history while Matthew Maguire presented exclusive insights into the general insurance market in Sri Lanka.
Roshan Perera said “We focus on three industries: investments, insurance and reinsurance, with our business spanning across three core practices – strategy, management, and actuarial. We’re unique in the fact that our advice is backed by decades of detailed research conducted by our insights team.”
“In addition to the consulting business, NMG has two other core businesses, NMG Benefits – an employee benefit consulting and administration business in Southern Africa, and NMG Capital - a private equity business investing in entrepreneurial financial services entities,” Roshan added.
Of NMG’s equity investments, the largest is iGO4, an online motor and home insurance broker in the UK, in which NMG owns a controlling stake. NMG Consulting’s actuarial team in Malaysia and Sri Lanka has supported this business with big data analytics and predictive modelling, as well as developing expertise in the area of telematics, which is an interdisciplinary field that encompasses telecommunications and vehicular technologies, to develop usage-based insurance. These are insights the team is able to share with its clients in the region.
To address the increasing challenges and requirements in the market NMG has strengthened its team in Colombo covering account management and technical services, including Big Data analytics. Roshan went on to talk about broadening NMG’s proposition in Sri Lanka to include life insurance consulting services to apply modern statistical techniques to life insurance portfolios for customer segmentation and profitability analyses. NMG also partners with technology vendors to provide their clients in Sri Lanka: Dynamic financial analysis for capital modelling, Cloud-based computing for real-time business planning and stress testing, and artificial intelligence that can be applied to claims and underwriting processes.
Matthew Maguire in his presentation on the market results, commented, “Recent changes in the regulatory landscape have resulted in companies having to think more strategically about their underlying business, and the consequences from a risk based perspective. This has led to a ‘step change’ in the ways companies approach their business.”
Matthew went on to say “while the motor business continues to dominate the industry, the results for the industry will depend upon the experience of this class. With the ongoing regulatory changes following the ‘full implementation’of RBC, companies are more closely scrutinizing their return on capital and how they want to participate in the industry. This is already apparent following the M&A activity seen over the last two years.”
NMG Group is a privately held company, focused exclusively on non-banking financial services. The most widely known firm within the NMG Group is NMG Consulting, a global boutique, with clients in each of the insurance, reinsurance, wealth management and asset management sectors. NMG Consulting’s proposition is consulting/advisory, differentiated by a unique set of global and regional insights programmes (of which reinsurance is one) and its global specialists.
The NMG Group has over 1,000 employees, spread across offices in 18 cities, and on five continents. NMG Consulting has 100 employees, and was established in 1992. They are spread across offices in Sydney, Perth, Singapore, Hong Kong, Kuala Lumpur, London, Toronto and Kansas City.