Clarity in
complex risk.
Independent senior advisory on enterprise risk, regulatory strategy, and capital frameworks — for reinsurers, insurers, long-term writers, ILS managers, captives, and the boards and law firms that work alongside them.
Five ways we help
Most engagements begin with a diagnostic review — a structured assessment of what's working, what isn't, and what needs to change. From there, we work across five areas.
Designing and implementing enterprise risk management frameworks; assessing whether existing frameworks are effective; and providing independent challenge on risk oversight at board and committee level. Includes 2LOD buildout, risk appetite and policy frameworks, risk culture assessment, and board-level risk reporting and management information.
Advisory on Bermuda's solvency and regulatory framework — BSCR, economic balance sheet, CISSA, and the Prudent Person Principle. From designing and running the CISSA process to independent peer review, PPP attestation support, and BMA engagement strategy.
An authoritative independent view on risk frameworks, capital models, regulatory submissions, or specific transactions — for boards, audit committees, and counsel who need a senior expert to stand behind a conclusion. Includes recovery plan review and challenge, expert regulatory opinion, and independent review of model-driven and AI-assisted analytics.
Structuring, regulatory positioning, and governance frameworks for ILS managers, segregated-account vehicles, and new market entrants — from initial strategy and BMA application support through to ongoing risk oversight.
Senior risk leadership on a part-time or interim basis — for firms that need a CRO-level mind without a full-time hire, or that need to bridge a gap while a permanent appointment is made. Includes recovery planning, engagement with regulators on resolution planning, crisis management framework design, and stress testing programme leadership.
An independent perspective,
built in Bermuda.
Lighthouse Advisory is an independent Bermuda-based consultancy supporting re/insurers with enterprise risk management, regulatory matters, and risk and capital strategy. Deliberately small and senior-led, the firm provides practical advice and direct access to experienced support.
Lighthouse was founded by Ravi Pachai, FIA, a Fellow of the Institute and Faculty of Actuaries with more than two decades of experience across the Bermuda and London re/insurance markets. His career has included catastrophe modelling, casualty treaty underwriting and risk leadership, including serving as Chief Risk Officer for AXA XL's Bermuda and North America reinsurance businesses.
Ravi has also worked within two insurance supervisors. At the UK FSA/PRA, he helped lead Solvency II internal model reviews of catastrophe risk. More recently, as a Deputy Director at the Bermuda Monetary Authority, he developed frameworks for recovery planning, resolution planning and crisis management for the commercial insurance sector and represented Bermuda on the IAIS Resolution Working Group.
This mix of industry and regulatory experience allows Lighthouse to consider issues from several perspectives, with an approach that is mindful of both commercial priorities and supervisory expectations.
Lighthouse works with a limited number of clients at any one time, allowing Ravi to remain closely involved throughout each engagement. The work ranges from reviewing risk and capital frameworks and supporting regulatory submissions to helping management teams and boards work through areas where an independent perspective would be useful. The approach is rigorous, practical and proportionate to the matter at hand.
Let's talk.
Whether you have a defined engagement or an early-stage question, we're happy to have a conversation.