# RiAct

> Independent Athens-based firm delivering actuarial, audit and consulting services to insurers, pension funds and regulated organisations in Greece since 2017.

RiAct (RiAct Μονοπρόσωπη Ι.Κ.Ε.) specialises in actuarial valuations (IAS 19 / ΔΛΠ 19, IFRS 17), Solvency II, internal audit, risk management, regulatory consulting and training. The firm is led by founder & CEO Iro K. Karanikola and is registered in Greece (GEMI: 143003803000 / VAT: EL801680880).

## Pages

- [Home](/): Overview of RiAct's actuarial, audit and consulting practice.
- [About](/about): Firm story, mission and values.
- [Services](/services): Actuarial, IAS 19, IFRS 17, Solvency II, internal audit, consulting and training.
- [Industries](/industries): Insurers, pension funds, audit firms, financial institutions.
- [Leadership](/leadership): Iro K. Karanikola, Founder & CEO.
- [Insights](/insights): Notes on actuarial practice and regulatory developments.
- [Contact](/contact): Get in touch with an advisor.
- [Request an IAS 19 proposal](/quote/actuarial): Tailored proposal for a ΔΛΠ 19 pension actuarial valuation.

## Services

- [IAS 19 / ΔΛΠ 19 employee benefit actuarial valuations](/services): Independent valuations of defined-benefit obligations, severance indemnities and post-employment benefits.
- [IFRS 17 insurance contract measurement](/services): Actuarial modelling, CSM and risk-adjustment support for insurers.
- [Solvency II](/services): SCR, ORSA, risk management and regulatory reporting support.
- [Internal audit](/services): Risk-based internal audit plans, controls testing and governance reviews.
- [Regulatory consulting & training](/services): Supervisory submissions, actuarial function reviews and in-house training.

## Insights

- [Are GLMs and GAMs considered AI under the EU AI Act?](/insights/actuarial/eu-ai-act-glm-gam): Why traditional actuarial models are not automatically classified as AI under the EU AI Act.
- [The rise of the bot in internal audit](/insights/internal-audit/bot-internal-audit-friend-not-replacement): How automation assists, but does not replace, professional audit judgment.
- [IAS 19 and the minimum wage increase](/insights/ias19/ias19-minimum-wage-increase): Why statutory wage changes affect employee-benefit obligations under IAS 19.
- [IFRS 17 in 2026](/insights/ifrs17/ifrs17-2026-cfo-guide): A practical guide to measurement models, CSM, risk adjustment and AI in IFRS 17 reporting.

## Frequently Asked Questions

**What is an actuarial valuation?** An actuarial valuation is a mathematical assessment of future financial obligations that depend on uncertain events, such as employee benefits or insurance liabilities.

**When does a Greek company need an IAS 19 valuation?** Companies that report under IFRS and provide defined-benefit pensions, severance indemnities or other long-term employee benefits must measure these obligations under IAS 19.

**What is IFRS 17?** IFRS 17 is the global accounting standard that governs how insurance contracts are measured, presented and disclosed in financial statements.

**Who leads RiAct?** RiAct is led by Iro K. Karanikola, a consulting actuary and internal auditor with 20+ years of experience in insurance, pensions and risk management.

**Where is RiAct based?** RiAct is based at 411 Vouliagmenis Avenue, Ilioupoli, 163 46, Greece, and works with clients across the country.

**How can I request a proposal?** Use the [online proposal form](/quote/actuarial) for IAS 19 valuations or contact the team through the [contact page](/contact).

## Optional

- [Privacy Policy](/privacy): GDPR and personal-data handling.