5 Questions Boards Should Ask Their Actuary

Posted on September 11, 2017

What questions should you ask your actuary?

Photo credit: iStock.com/FangXiaNuo

Over the last 20 years, I’ve presented the results of various actuarial analyses to client Boards hundreds of times. Sometimes I get asked great questions, but mostly, I don’t.

I understand why, though. The actuarial presentation is rarely the sole focus of a Board meeting, and the Board is usually moving quickly through a busy agenda with financial results, governance issues, new initiatives, marketing, etc.

I also understand that some Board members are less comfortable than others with the numbers and financial-centric presentations. The actuarial concepts and terminology can be overwhelming, and some Board members are bound to feel uncomfortable asking questions for fear of showing a lack of understanding. It is certainly not their fault – Board education on actuarial topics is not easy to find, and often Board members will be limited to one or two opportunities annually to have any actuarial discussion.

To encourage actuarial discussion at the Board level and highlight the value that the actuary can provide, I came up with a list of questions for Boards to ask their actuary.

Axxima at the 2016 NABRICO Conference

Posted on July 14, 2016

Nabrico-2016-logo-200.fwAxxima CEO, Patrick Mahoney, will be a panel member for the Fast Forward: Part 2 – The Insurance Marketplace session at this year’s NABRICO conference in Vancouver. In his session, Patrick and his four fellow panel members will “crystal-ball [the legal profession’s] insurance future. First, they’ll share their views on the insurance implications of this transformed legal world. Their discussion will then move to trends in the insurance market, and the anticipated impact on LPL lines.”

Find out more about the session, the panel members, and the NABRICO conference at http://www.nabrico2016conference.com.

Go, Ryan!

Posted on April 13, 2016

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Axxima is excited to see our CIO, Ryan Durrell, featured on Trent University’s Daily News blog!

An alumni of the University, Ryan shares his success story and words of wisdom HERE.

Congratulations, Pascal!

Posted on March 11, 2016

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Axxima is very proud to announce that our very own Pascal Boucher recently became a Fellow of the Casualty Actuarial Society.

Pascal has been a valuable part of Axxima as an actuarial analyst since the company’s inception. He always brings his hard work, skill, and positive attitude to the various insurance projects he works on, including actuarial reserving, statistical analysis, and stochastic modelling. Pascal has now turned things up to 11 by obtaining his FCAS designation.

The Casual Actuarial Society boasts 7,000 members who are experts in property and casualty insurance, reinsurance, finance, risk management and enterprise risk management.

Congratulations, Pascal, from all of us at Axxima!

Celebrating Our First Anniversary

Posted on September 18, 2014

Axxima Turns OneWe are pleased to announce that Axxima celebrates its first anniversary on September 18, 2014. The past 12 months have been full of hard work and laughter, and have been unbelievably satisfying. We are truly home.

We would like to thank our fantastic clients, our hard-working business partners and our ever-supportive families for believing in us and for helping to make us a success. We would also like to thank our colleagues at Axxima, the best group we could hope to work with.

The first year was fun. But we are just getting started.

~ Patrick Mahoney, on behalf of the Board

Axxima acquires Dion Durrell’s RIMS and related actuarial practices

Posted on September 18, 2013

TORONTO – Axxima Holdings Limited, formed by five former associates of Dion, Durrell + Associates Inc. (“Dion Durrell”), announced today the management buy-out of the consulting practices managed by the former associates while they were at Dion Durrell. The acquisition includes the insurance brokerage 3303128 Canada Inc. o/a Alternative Risk Services, the Risk and Insurance Management Services (RIMS) practice of Dion Durrell, and the Montreal division of Dion Durrell’s actuarial practice.

Axxima stands for actuarial and insurance management excellence. All of the key players, including Patrick Mahoney, Joe Tontini, Julie-Linda Laforce, Norma Ibbetson, and Ryan Durrell, will be part of the new operation.

Axxima’s offices will be located at:


36 Toronto Street, Suite 510
Toronto, Ontario M5C 2C5

Tel. 1.855.729.9462
Fax. 1.855.529.9462


192 St-Jean Road, Suite 202
Longueuil, Quebec J4H 2X5

Tel. 450.646.2500
Fax. 1.855.529.9462

“We are very excited about serving our clients from our new platform,” said Patrick Mahoney, CEO of Axxima. “We expect a smooth transition as we have the full support of the Dion Durrell Board and all the associates currently serving our clients (about 15 in total) who are joining Axxima on day one. We look forward to continuing our long-standing client relationships, and to providing new clients with value-added strategic advice and cost effective insurance management services.”

For further information contact:
Patrick Mahoney