Who we are ?

Chi-X-Re is an alternative risk and actuarial consultancy founded in 2020 by its President, Carmela Calvosa, a citizen of the world and a global actuary. Chi-X-Re was launched in the time of lockdowns but its ambition and purpose of flexible actuarial resourcing is not at all confined by geography.

Our Story

After 20 years of working on actuarial projects all over the world, Carmela was inspired by the start of a new digital decade characterized by the launch of many new fintechs and insurtechs.  The global insurance industry is now brimming with innovative technologies. Buzzwords such as agile, sprint, scrum,  machine learning were peppering so many new major finance, risk and transformation projects.  She observed  that despite the new trends and the increasing levels of process automation, successful projects still rely on some basic key success factors: communication, collaboration, clarity.


Our Philosophy

While our name may not exactly roll off the tongue, it contains the key principles of our philosophy:

Our Clients

Our clients are international insurers, reinsurers, consulting and audit firms in Europe, Africa and Middle East who all have the same business needs: the short term requirement for senior insurance or actuarial expertise. The need for quality assurance, oversight of delivery teams, support for their senior management and leadership on key insurance projects.  The projects can vary and range from strategic finance transformations to the implementation of global reporting standards to  cross-border due diligence. 

We specifically support our clients who have critical resource gaps at key executive level (for example: Actuarial Function Heads , Risk Directors, Senior Project Actuaries, Head of Internal Audit) in cases where these gaps are short term whatever the reasons (for example:  leave of absence, maternity cover, organisational change, executive search in progress).

Our founder

Our founder, Carmela Calvosa, is a qualified actuary whose insurance and actuarial experience over the last 24 years, for more than 20 clients and 5 employers in 30 different countries; each with their own variations of life and non-life insurance products, local regulations, systems constraints and reinsurance arrangements. She has also performed both buy side and sell side due diligence and worked on post merger integrations.

She has worked with hundreds of actuaries from all over the world on projects that have shaped the evolution of the industry over those 24 years:  Solvency II, ICA, IFRS 17, SAM – and in doing so has built a wide network and depth of experience. She has trained board members, led and built teams, and coached trainees and junior actuaries.

Throughout her career she has been privileged to have been in roles such as chief of staff or deputy to various Chief Actuaries, Chief Accountants, CROs helping them execute their vision for the functions they lead and playing a key role in the implementation of their strategic projects. Through Chi-X-Re this is what she continues to do.