Liam McFarlane is a limited partner of Ernst & Young L.P., which provides services to Ernst & Young LLP. Liam is the leader of Ernst & Young’s Canadian actuarial practice.
Liam has over 30 years of experience in the Canadian property and casualty insurance and reinsurance industry. Prior to joining Ernst & Young, Liam gained extensive experience as a senior insurance executive as well as a consulting actuary working with insurers, reinsurers, captives, professional associations and financial institutions across most of the major lines of insurance in Canada.
Liam has serviced a wide variety of clients in the areas of professional liability insurance, group personal lines program consulting, insurance companies, reinsurance companies and financial institutions. He has acted as Appointed or Valuation Actuary to over twenty insurers/reinsurers in Canada and provided strategic advice to many of these entities in the areas of pricing, capital and risk management, and reinsurance.
He has consulted to many different kinds of organizations such as associations, financial institutions, and retailers, etc., regarding non-traditional models of the distribution of insurance products.
Liam currently acts as Appointed Actuary to approximately 10 insurance and reinsurance companies in the Canadian market both domestic and foreign branches. He has deep expertise in the valuation of policy liabilities as well as the assessment of financial condition through Dynamic Capital Adequacy Testing.
Liam is the lead Canadian actuary advising clients with respect to the new insurance contracts standard, IFRS 17. He works closely with EY’s insurance partners on advising property and casualty companies on how to interpret this standard.
Liam is also the actuarial partner on EY Canada’s large Canadian property and casualty insurance audits including Intact Insurance, TD Insurance and Economical Insurance.
Liam’s professional experience also includes being involved in many insurance industry committees as well as committees of the actuarial profession. These have included the Facility Association Actuarial Committee and industry actuarial advisory committees on Ontario automobile insurance. In addition, he has served on Casualty Actuarial Society examination committees as well as various committees of the Canadian Institute of Actuaries. He served as chair of the Canadian Institute of Actuaries committee on professional conduct and he currently chairs the Committee on Professionalism of the Canadian Institute of Actuaries.