Insurance & Risk · Due Diligence & M&A · IPO & Capital

From regulatory foundation to capital markets.

Alpha Consultant has spent years helping insurers, brokers and financial institutions get licensed, stay compliant and manage risk. We now bring the same depth to due diligence, M&A, IPOs and capital raising, so one team can support your business from its first licence to its listing.

Speak to a PartnerHow we help
20+Years in insurance, risk & actuarial leadership
28+Years in corporate finance & cross-border deals
NasdaqIPO led from pre-IPO to listing
MASLicence applications & key appointment experience
About Alpha

One firm across your growth journey.

Alpha Consultant Pte. Ltd. is a Singapore advisory firm serving institutions and SMEs across Asia Pacific and North America. Our roots are in actuarial science, enterprise risk management and regulatory compliance. Today our partners also bring hands-on experience of Nasdaq and SGX-listed boards, IPO execution and cross-border M&A.

The two sides strengthen each other. Investors and exchanges want strong governance, clean controls and a credible risk story, and that is what our advisory practice has always built. Deal experience, in turn, sharpens the strategic advice we give every client.

FOUNDATION

Insurance, Risk & Regulatory

Licence applications, ERM and ORSA, risk-based capital, AML/CFT, actuarial pricing and reserving, and insurtech strategy.

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TRANSACTIONS

Due Diligence & Corporate Deals

Financial, actuarial and regulatory due diligence, M&A advisory, deal structuring and cross-border deal project management.

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CAPITAL

IPO & Capital Advisory

IPO readiness, pre-IPO restructuring and fundraising, listing execution, and governance for listed companies after they list.

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Capital Markets

From private company to listed issuer.

We help growth companies plan, prepare for and complete a public listing or capital raise. We work alongside sponsors, underwriters, lawyers and auditors so management can keep running the business.

01

IPO Readiness & Advisory

Choosing a listing venue (SGX Mainboard and Catalist, HKEX, Nasdaq and others), gap analysis against listing rules, and a realistic roadmap to listing day.

02

Pre-IPO Restructuring & Governance

Group restructuring, internal controls fit for PCAOB and exchange audits, board and committee set-up, and ERM frameworks that meet investor expectations.

03

Pre-IPO & Private Fundraising

Equity story, financial model and investor materials. Introductions to strategic, family office and institutional investors, plus term-sheet negotiation.

04

Listing Execution & Roadshow

Coordinating the issue manager, legal counsel, auditors and valuers, responding to exchange and SEC queries, and preparing management for investor roadshows.

05

Cross-Border & Alternative Routes

Weighing RTO, SPAC, dual and secondary listings, with structures linking Asia Pacific and North American markets.

06

Post-Listing Support

Meeting ongoing listing obligations, board risk and remuneration committees, investor relations, and follow-on placements or rights issues.

1. AssessFeasibility & venue
2. PrepareRestructure & govern
3. RaisePre-IPO investors
4. ListDue diligence & filing
5. SustainPost-listing compliance
Experience you can rely on. Our Managing Director led Basel Medical Group through its Nasdaq IPO in 18 months, handling audit, SEC and Nasdaq reviews and a roadshow to more than 50 global investors. He sits on the boards of SGX- and Nasdaq-listed companies. Our Partner, Edmund Chan, brings 28+ years of cross-border IPO and M&A project management across Asia Pacific and North America.
Due Diligence & Corporate Deals

Cross-border transactions, managed end to end.

Complex deals fail on execution as often as on price. We act as your deal project manager, keeping workstreams, counterparties and timelines aligned across jurisdictions. We have particular depth in financial services, healthcare and energy.

Our actuarial and regulatory background gives us an edge in due diligence on insurers, brokers, fund managers and other regulated businesses.

Discuss a transaction
  • Mergers & Acquisitions: buy-side and sell-side advice, target screening and deal structuring
  • Due Diligence: financial, actuarial, operational and regulatory due diligence, especially for insurance and financial-services targets
  • Deal Project Management: running the project office for multi-party, multi-jurisdiction deals, from term sheet to completion
  • Joint Ventures & Strategic Partnerships: partner search, valuation frameworks and negotiation
  • Valuation & Financial Modelling: actuarial and financial models to support pricing and negotiation
  • Post-Merger Integration: bringing governance, risk, compliance and synergy tracking together after closing
Healthcare · SingaporeCompleted the acquisition of a medical group and integrated it after the deal
Insurance · IndonesiaFinancial due diligence on a local general insurer for an M&A project
Insurance · MalaysiaM&A due diligence on three insurers, and actuarial advice to the regulator on an RM15m insurer acquisition
Multi-sectorStrategic advice on acquisitions in insurance, consumer retail and fund management
Insurance, Risk & Regulatory Advisory

The foundation of our practice.

Consultancy and training designed around each type of client.

  • Risk-Based Capital (RBC) framework
  • ERM and ORSA framework implementation
  • Independent review of ERM and ORSA
  • Digital insurance strategy and rollout
  • Actuarial reserving and pricing
  • Portfolio review
  • Financial modelling
  • New market entry studies
  • New product development
  • MAS licence applications (insurance broker, FA, IFA)
  • New products and distribution models
  • New markets and new clients
  • Regulatory compliance: AML/CFT, data privacy, cyber
  • Outsourced compliance and post-sales audit
  • Balanced scorecard
  • Family office and family fund set-up
  • Licence and regulatory sandbox applications
  • Business model and operations
  • Expansion plans
  • Gap analysis and data analytics
  • Financial projections and modelling
  • Fundraising
  • Enterprise risk management
  • Regulatory compliance
  • New partnerships and clients
  • Sourcing insurance cover
  • ERM framework and process implementation
  • Financial services ecosystem model and strategy
  • Portfolio analysis
  • Financial modelling
  • New market entry studies
  • New products
  • AML/CFT framework review
  • Insurance needs
  • Licence applications
  • ERM framework and process implementation
  • Internal audit, control and assurance review
  • AML/CFT framework review and training
  • Regulatory compliance training
  • VCC, family office and family fund set-up
  • Insurance needs
  • AML/CFT framework review
  • AML/CFT training
  • Data privacy training
  • Insurance needs
  • ERM and risk & control reviews for charities and non-profits
Training & Professional Development

Building capability across the region.

Our partners teach at leading institutions and industry bodies in Singapore and across Asia, turning technical regulation into practical skills.

Singapore Management UniversitySingapore College of InsuranceRIMS (US)ESSEC Business SchoolNanyang Technological UniversityTaiwan Insurance InstituteMalaysian Insurance InstituteTÜV SÜD

Enterprise Risk Management

ERM for Life and General Insurance, the ORSA for Insurers workshop, the 4-day ERM and ORSA workshops with RIMS, and Operationalising Risk Management in Decision Making at SMU.

Risk-Based Capital

Overview of Singapore's RBC2 framework, RBC Fundamentals and Advanced (Life and Non-Life), and capital management in the insurance sector.

AML/CFT & Regulation

AML/CFT for accountants, fund managers, corporate service providers and insurance professionals, CRS for insurers, and insurance rules and regulations for SIBA and FAs.

Insurtech & Cyber

Blockchain in insurance, motor telematics, IoT, cyber threats and management, cyber hygiene and data-loss protection, and PDPA in insurance.

ESG & Sustainability

Environmental risk management for life and general insurers, and a 3-day ESG for Insurers workshop.

Actuarial & Management

Actuarial pricing and reserving, the iMAP Advanced Diploma in Risk Management, the ASEAN Young Insurance Managers programme, and a balanced scorecard workshop.

Track Record

Selected engagements.

Licensing · SingaporeInsurance broker licence applications, with all three brokers receiving in-principle approval from MAS
Licensing · SingaporeOversaw a digital asset exchange's MAS Recognised Market Operator licence application, which MAS granted
Licensing · SingaporeFinancial adviser and IFA licence applications, followed by outsourced compliance
ERM · Hong KongPeer review of the Group ERM framework and ORSA process for a licensed digital insurer
ERM · BruneiERM consultancy and senior-management training for the country's largest takaful group
Risk · CambodiaRisk management review for a microfinance institution and local bank
Audit · SingaporeInternal audit, control and assurance review for a fund management company
Governance · SingaporeERM consultancy and risk and control review for a large charitable organisation
Actuarial · SingaporeActuarial pricing review of a motor warranty portfolio for an insurer, and motor insurance strategy for a broker
Research · IndonesiaPersonal and SME cyber insurance market research for a Lloyd's coverholder
Strategy · MalaysiaBalanced scorecard advisory for a Bursa-listed healthcare software provider
Fintech · IndonesiaTechnical adviser to a digital micro-lending platform
Our People

Our leadership team.

Raymond Cheung

Raymond Cheung

B.Bus, AIA, ASAS, ACLP, MBA
Founder & Managing Director

Chartered Actuary and C-suite executive with over 20 years in insurance, reinsurance, capital markets and regulatory engagement across Asia Pacific.

  • Former Group CEO of Basel Medical Group (Nasdaq: BMGL), whose Nasdaq IPO he led
  • Independent Director of iO3 Ltd (Nasdaq) and SDAI Ltd (SGX); formerly of BJCG Ltd (SGX)
  • Singapore Director and MAS Key Appointment Holder at a Major Payment Institution
  • Former CRO of AIG Asia Pacific and Group CRO of Asia Capital Re; former Regional Insurance Lead at Grab
  • Chaired the Singapore Actuarial Society's RBC Working Party for 8 years
raymond.cheung@alphacoasia.com
Edmund Chan

Edmund ChanNEW

MBA
Partner

Over 28 years in corporate finance and business across many industries, now focused on the energy sector.

  • Cross-border IPO and M&A advisory
  • Project management of corporate deals spanning Asia Pacific and North America
  • Leads Alpha's Capital Markets and Corporate Deals practice
ed@alphacoasia.com
Byong Chon

Byong Chon

Technology Director

Over 15 years with technology MNCs, consultancies and start-ups, including portfolio management.

  • Fintech, insurtech and supply-chain financing across Southeast Asia
  • Digital transformation and technology strategy
AAuthentic
LLearner
PPassion
HHonest
AAdventurous
Testimonials

What our clients and partners say.

“Alpha Consultancy is a reliable Insurtech consultant partner for everything, from every step of our company life cycle, and they perfectly understand what we really need.”Samuel SetiawanChief Executive Officer, PT Equity Life Indonesia
“The team leads at Alpha Consult, led by Raymond, a man with the broadest risk management experience and expertise of anyone I've met. While most actuaries focus on narrow insurance underwriting or investment risks, the team lead has delivered value across the entire value chain of organizations from various industries.”Colin PriestVP AI Strategy, DataRobot
“The folks at Alpha are my Insurtech people, and their services are top-notch with excellent customer services that always manage to keep their cool no matter the situation. I specifically admired their culture and their ability to see through the noise, isolate issues, and develop solutions.”Dr. Winston Go, FLMIHead of New Business, Underwriting and Product Development, AXA – Global Healthcare
“Given their tremendous experience in both insurance, reinsurance, and insurtech, they bring a unique combination of experiences, and I look forward to following their thought leadership in the topic of Enterprise Risk Management.”Veng Hoong LohDigital Proposition Lead, Swiss Re
“We cannot talk of Alpha consultancy without the CEO, who is a seasoned actuarial and risk professional, well versed in his areas of work. I have always enjoyed his thought-provoking discussions and expert presentations.”Mei Eng ChanChief Financial Officer, Etiqa Insurance Singapore
“In ORSA and its applications in the insurance context, Alpha consultancy is one of the best ERM and insurance consulting firms I know in my professional life.”Agustinus Nicholas L TobingRISE – Security Assurance Country Lead
“The team at Alphacoasia has always been very patient and nurturing in sharing knowledge. They are very good at explaining complicated concepts in laymen's terms.”Ashlea LamOperational Risk Manager, Prudential Assurance Company Singapore
“Alpha consultancy is a truly dedicated, innovative organization that connects businesses through expert advice and extensive business network in actuary, particularly in the field of risk management.”Caryn ChuaSouth-East Asia Representative, Institute & Faculty of Actuaries, UK
Contact Us

Let's talk about your next milestone.

Address139 Cecil Street, #03-12 YSY Building,
Singapore 069539
Phone+65 6227 7175
Emailadmin@alphacoasia.com