News from Milliman

• Milliman opens investment consultancy in the Netherlands

  20 December 2018

  Milliman, Inc., one of the premier global consulting and actuarial firms, today announced the opening of an investment and risk management consultancy practice in the Netherlands. This practice complements Milliman’s Dutch actuarial and pension consulting practice and answers a market need for integrated actuarial and risk management services. Milliman has hired risk management expert Marcel Kruse, MSC, RBA, to lead the new practice.

• Milliman named “Service Provider of the Year” for fifth consecutive year by Middle East Insurance Review

  12 December 2018

  Milliman, Inc., a premier global consulting and actuarial firm, is pleased to announce it was named “Service Provider of the Year” for the fifth consecutive year at the Middle East Insurance Review’s 2018 Middle East Insurance Industry Awards (MIIA).

• Milliman analysis: Corporate pensions likely to miss 2018 investment return assumptions

  10 December 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In November, these pensions experienced a $7 billion increase in funded status resulting from a robust investment gain of 0.72%. This brings the PFI’s year-to-date investment performance to a loss of 1.49%, making it likely these plans will miss the expected return assumption for 2018.

• Milliman’s Pixel offers new features that allow home and flood insurers to review premiums and losses by peril

  10 December 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced new features for Pixel™, Milliman’s web-based, interactive premium comparison and market analysis tool for personal residential and flood insurance.

• Milliman adds Timber Operators Council – Woodworkers, IAM Defined Contribution Plan and Trust as a retirement services client

  05 December 2018

  Milliman, Inc., one of the premier global consulting, actuarial, and administration firms, today announced it has added the Timber Operators Council – Woodworkers, IAM Defined Contribution Plan and Trust as a defined contribution client. The plan includes over 4,300 participants and $150 million in assets.

• MillimanBenefits.com adds leading edge security feature

  28 November 2018

  Milliman, Inc., one of the premier global consulting and actuarial firms, today announced a new security feature on Millimanbenefits.com, which hosts account information for participants in Milliman client retirement plans. The leading edge Account Lock feature allows participants to “lock down” their accounts to prevent any distributions or loans from being initiated while it is locked. It gives participants an added layer of defense against external security threats.

• Physicians Insurance teams with Milliman Datalytics-Defense to apply machine-learning to claims management strategies

  13 November 2018

  Milliman, Inc., the premier global consulting and actuarial firm, today announced that Physicians Insurance A Mutual Company has selected Milliman Datalytics-Defense® as its advanced analytics legal management platform for processing defense cost invoices. Milliman Datalytics-Defense employs powerful data mining algorithms and machine learning to help insurers and self-insureds detect patterns in attorney billing practices, delivering a better understanding of both costs and defense strategies.

• Milliman analysis: Corporate pensions experience largest one-month investment loss in a decade, but year-to-date funding remains healthy

  09 November 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In October, these pensions experienced a $13 billion decline in funded status resulting from a significant investment loss of 3.42%. This brings the PFI’s year-to-date investment performance to a loss of 1.99%; October 2018 marks the biggest one-month investment loss for these plans since January 2008’s 3.57% loss. From September 30 to October 31, the PFI’s asset value declined by $57 billion, while the funded ratio dropped one percentage point from 94.4% to 93.4%.

• Milliman analysis: Funded ratio for 100 largest U.S. corporate pensions hits 10-year high in September

  12 October 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In September, these pensions experienced a $21 billion increase in funded status due to an increase in the benchmark corporate bond interest rates used to value pension liabilities. From August 31 to September 30, the monthly discount rate rose 13 basis points, climbing from 4.05% to 4.18%. As a result, the projected benefit obligation (PBO) for these plans decreased by $27 billion, but was offset by a $6 billion decrease due to investment losses. As of September 30, the funding ratio for the Milliman 100 PFI was at 94.5%, up from 93.3% the previous month.

• Milliman analysis: Flat returns for multiemployer pensions in first half of 2018 dampen funding progress

  11 October 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its Fall 2018 Multiemployer Pension Funding Study (MPFS), which analyzes the funded status of all multiemployer pension plans in the United States. As of June 30, 2018, the aggregate funded ratio of these plans was at 81%, down from 83% at the end of 2017.

• Milliman hires investment banking vet Paul Fulcher as senior consultant in London

  01 October 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced that it has hired investment banking and capital management expert Paul Fulcher as a new senior consultant in London. With almost three decades of actuarial experience, including the last 18 years in investment banking, Fulcher will focus on expanding the firm’s capabilities in capital and asset-liability management (ALM). He joins Milliman from Nomura, where he served as Managing Director, ALM Structuring and Insurance Solutions for the past six years, winning Risk Solutions House of the Year from Risk Magazine in 2018. Previously, Fulcher directed risk advisory teams at both Royal Bank of Scotland and UBS.

• Milliman launches Pixel for flood insurance at 2018 InsureTech Connect in Las Vegas

  24 September 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the launch of Pixel™ for flood insurance at this year’s InsureTech Connect conference in Las Vegas. Pixel is Milliman’s market analysis platform for personal residential and now flood insurance.

• New business leads to 19% embedded value (EV) growth for life insurers in Asia

  14 September 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the findings of its study on reported year-end 2017 embedded value (EV) / value of new business (VNB) results for 31 major insurance companies operating in Asia, excluding Japan. The report highlights trends in published EV results, including a total growth in reported EV in 2017 of 19.2%, and similarly a 19.1% growth in value of new business (VNB).

• New business leads to 19% embedded value (EV) growth for life insurers in Asia

  14 September 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the findings of its study on reported year-end 2017 embedded value (EV) / value of new business (VNB) results for 31 major insurance companies operating in Asia, excluding Japan. The report highlights trends in published EV results, including a total growth in reported EV in 2017 of 19.2%, and similarly a 19.1% growth in value of new business (VNB).

• Milliman analysis: Corporate pension funding drops by $3 billion in August

  12 September 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In August, these pensions experienced a $3 billion drop in funded status due to a decrease in the benchmark corporate bond interest rates used to value pension liabilities. The monthly discount rate fell six basis points from 4.11% in July to 4.05% as of August 31. The projected benefit obligation (PBO) for these plans increased by $12 billion during this time period, while the market value of assets rose by $9 billion thanks to August’s strong investment gains of 0.85%. The funding ratio for the Milliman 100 PFI dipped slightly during the month from 93.5% to 93.3%.

• Milliman named Korea’s leading insurtech company by MoneyToday

  04 September 2018

  Milliman, Inc., a premier global consulting and actuarial firm, is pleased to announce the firm was named Korea’s leading insurtech company by MoneyToday, one of the largest economic newspapers in the nation. MoneyToday presented Milliman with the Grand Prize in Insurtech as part of the publication’s “2018 Leading Companies of Korea” awards. Winners were chosen based on an insurance industry survey conducted by the newspaper.

• Milliman adds International Brotherhood of Electrical Workers Local Unions Savings and Security Plan as a retirement services client

  27 August 2018

  Milliman, Inc., one of the premier global consulting, actuarial, and benefits administration firms, today announced it has added the International Brotherhood of Electrical Workers (IBEW) Local Unions Savings and Security Plan as a defined contribution client. The multi-employer plan includes more than 30 locals of the IBEW primarily in the Telecommunications Department. The plan has more than $650M in assets with participants in 48 states.

• Milliman analysis: July’s corporate pension funding ratio reaches 93.4%, highest in a decade

  13 August 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In July, these pensions experienced a $12 billion increase in funded status due to robust investment returns of 1.15% for the month. Assets increased by $13 billion in July, with the PFI deficit falling from $120 billion to $108 billion, while pension liabilities increased by $1 billion due to a slight dip in the benchmark corporate bond interest rates used to value pension liabilities. The funded ratio climbed from 92.7% at the end of June to 93.4% as of July 31, the highest it’s been in a decade.

• Milliman awards 16 Opportunity Scholarships in the program’s second year

  08 August 2018

  Milliman, Inc., a premier global consulting and actuarial firm, is pleased to announce the recipients of this year’s Opportunity Scholarship program. This scholarship program, now in its second year, was created to assist students from ethnic groups and races that are under-represented in the fields of actuarial science, data science, computer science, economics, programming, mathematics, statistics, data analytics, or finance.

• Milliman appoints life insurance consulting head in Indonesia

  08 August 2018

  Milliman, Inc., a premier global consulting and actuarial firm, announced the appointment of Brian Colgan as Head of Life Insurance Consulting, Indonesia. He will be based in Jakarta. Brian is a Fellow of the Institute and Faculty of Actuaries and the Society of Actuaries in Ireland. He holds a PhD in Mathematical Sciences from Dublin City University in Ireland.

• Milliman: Lackluster asset performance in Q2 drops public pension funding by $23 billion

  06 August 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the 2018 second quarter results of its Public Pension Funding Index (PPFI), which consists of the nation’s 100 largest public defined benefit pension plans. In Q2, these plans experienced a $23 billion loss in funding, largely due to a lackluster asset performance of 0.70% in aggregate. The plans earned approximately $45 billion for the quarter, below assumed investment returns reflected in liability calculations. This shortfall is exacerbated by $28 billion flowing out of the plans, as benefits paid out exceeded contributions coming in from employers and plan members. The PPFI funding ratio dipped slightly from 71.4% in Q1 2018 to 71.2% in Q2.

• Milliman hires Gary Setterberg, establishes higher education consulting and administration practice

  01 August 2018

  Milliman, Inc., one of the premier global consulting and actuarial firms, today announced the appointment of Gary Setterberg to the position of Senior Managing Director, Global Higher Education Practice, and the creation of a multi-disciplinary practice dedicated to providing employee benefit and human capital advisory and strategic consulting services to higher education and academic medical system clients.

• Milliman continues global expansion, opening new office in Turkey

  26 July 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced that it is expanding to Istanbul amidst growing demand for Milliman’s consulting services in the region. The Istanbul office will specialize in actuarial and strategic consultancy services for non-life, life and private pension, health, and employee benefits. Halil Kolbasi, an experienced actuary who has worked both in the Turkish Treasury and with Turkish life and casualty insurers, will head the new office. This will be Milliman’s 14th location in Europe.

• Milliman releases pioneering report mapping Asia’s life insurance regulatory landscape

  25 July 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the release of its latest report, entitled “Regulatory diversity across Asia,” which provides an insightful analysis on current regulations applicable to life insurers across 14 Asian markets. This pioneering report provides an analysis of life insurance regulations in Brunei, China, Hong Kong, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam.

• Over 90% of homes in New Jersey and New York could see cheaper premiums with private flood insurance, according to Milliman

  24 July 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the results of a new, independent analysis showing what a private flood insurance market could look like in New Jersey and New York. The study, which was conducted in collaboration with Risk Management Solutions, Inc. (RMS), modeled premiums for most single-family homes across the two states. It also analyzed the potential effect a private market could have on take-up rates – that is, the percentage of consumers eligible for flood insurance who then purchase it.

• Milliman Expands Defined Contribution and Defined Benefit Practices

  17 July 2018

  Milliman, Inc., one of the premier global consulting and actuarial firms, today announced the expansion of its retirement administration practice, beginning with bringing together all defined contribution (DC) and defined benefit (DB) administration services nationwide. The unified structure and leadership allows Milliman to better serve existing clients and continue to expand services to a broader array of employers.

• Milliman joins Alliance for Lifetime Income as part of firm’s larger vision to improve and protect Americans' retirement security

  10 July 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced that the company has joined the Alliance for Lifetime Income as a founding member. The Alliance, a newly launched nonprofit organization supported by 24 leading insurance and financial services organizations, is focused on educating Americans on the risk of outliving their savings and about the importance of protected retirement income.

• Annual Milliman survey reveals gradual shifting from full underwriting of UL/IUL products to simplified issue and accelerated underwriting approaches

  09 July 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the results of its annual comprehensive study of universal life (UL) and indexed universal life (IUL) issues, which for the first time includes the reporting of sales by underwriting approach. The 11th annual Milliman study, “Universal Life and Indexed Universal Life Issues”, focuses on current topics relative to universal life with secondary guarantees (ULSG), cash accumulation UL, current assumption UL, and the corresponding indexed UL (IUL) versions.

• Milliman analysis: Corporate pension funding increases by $23 billion in June as discount rates hit two-year high

  09 July 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In June, these pensions experienced a $23 billion increase in funded status, with the deficit of the Milliman 100 PFI plans falling from $141 billion at the end of May to $118 billion as of June 30. The improvement was due to an increase in the benchmark corporate bond interest rates used to value pension liabilities, which saw discount rates increase by 13 basis points from 3.99% to 4.12% over the same time period. The funded ratio for the Milliman 100 PFI jumped to 92.8% as of June 30, and would have been higher had it not been for June’s poor investment returns of -0.09%.

• Milliman expands Middle East operations, opening new office in Israel

  25 June 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced that the firm is opening a new office in Tel Aviv, expanding its operations in the Middle East. The office will offer the full gamut of insurance and actuarial consulting services. Benny Gabbay, a leading figure in the Israeli insurance industry, and Daniel Sharon, until recently chief actuary of Phoenix Insurance Ltd, a leading Israeli insurer, will oversee the new office in Israel. Each brings a deep knowledge of the Israeli insurance market and over twenty years of industry experience to the firm.

• Milliman expands Employee Benefits practice in Asia to Malaysia

  20 June 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced that the company is further expanding its employee benefits practice with the hire of Lin Fong Chow as Practice Leader, Employee Benefits Malaysia. Lin Fong brings with her more than 17 years of benefits and rewards experience in Malaysia.

• Milliman analysis: Corporate pension funded status dips by $2 billion in May

  14 June 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In May, these pensions experienced a $2 billion dip in funded status as investment gains mostly offset a four-point decrease in the monthly discount rate. The funded ratio for the Milliman 100 PFI remains unchanged at 91.6% as of May 31.

• Milliman wins prestigious 2018 Gold Quill Award

  06 June 2018

  Milliman tonight received the 2018 Gold Quill Award of Excellence in Human Resources & Benefits Communication at the International Association of Business Communicators (IABC) Excellence Gala in Montreal.

• Milliman analysis: Medicaid managed care market penetration quadruples over past decade

  04 June 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the availability of its annual research into the financial results and administrative expenses associated with Medicaid managed care plans. This year’s report marks the tenth edition of Milliman’s research, and combines the financial and administrative analysis into one comprehensive report including an in-depth examination of Medicaid managed care plans’ medical loss ratios (MLR), administrative loss ratios (ALR), underwriting ratios (UW ratio), and RBC ratios. The information is of significant value to the Medicaid industry as enrollment and revenue continue to increase year-over-year.

• Milliman: U.S. group disability insurers experience market consolidation, 7.3% growth in new sales in 2017

  29 May 2018

  Milliman, Inc., a premier global consulting and actuarial firm, recently released the results of its 2017 U.S. Group Disability Market Survey, a comprehensive report that analyzes the short- and long-term disability (STD / LTD) market, including sales and inforce business.

• Milliman hires Gary Setterberg, establishes higher education consulting and administration practice

  01 August 2018

  Milliman, Inc., one of the premier global consulting and actuarial firms, today announced the appointment of Gary Setterberg to the position of Senior Managing Director, Global Higher Education Practice, and the creation of a multi-disciplinary practice dedicated to providing employee benefit and human capital advisory and strategic consulting services to higher education and academic medical system clients.

• Milliman hires Gary Setterberg, establishes higher education consulting and administration practice

  01 August 2018

  Milliman, Inc., one of the premier global consulting and actuarial firms, today announced the appointment of Gary Setterberg to the position of Senior Managing Director, Global Higher Education Practice, and the creation of a multi-disciplinary practice dedicated to providing employee benefit and human capital advisory and strategic consulting services to higher education and academic medical system clients.

• Milliman Medical Index: Healthcare costs for typical American family reach $28,166 despite low annual rate of increase

  22 May 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the 2018 Milliman Medical Index (MMI), which measures the cost of healthcare for a typical American family of four receiving coverage from an employer-sponsored preferred provider plan (PPO). In 2018, costs for this family will increase by 4.5%, approaching the lowest rate on record. Last year’s 4.3% increase was the lowest in the MMI’s 18 year history, and points to the recent deceleration in healthcare cost increases.

• Milliman analysis: Corporate pensions’ funded ratio rises to 91.6% despite investment losses in April

  18 May 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In April, these pensions experienced a $20 billion improvement in funded status thanks to an increase in the corporate bond rates used to measure pension liabilities. From March 31, 2018 through April 30th, the monthly discount rate increased 12 basis points, from 3.91% to 4.03%; as a result, pension liabilities decreased by $26 billion for the month. The funded ratio for the PFI plans increased from 90.6% to 91.6%, despite a 0.11% investment loss that reduced index assets by $6 billion.

• Milliman: Public pension funding falls back to 71.4% in 2018 Q1

  15 May 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the 2018 first quarter results of its Public Pension Funding Index (PPFI), which consists of the nation’s 100 largest public defined benefit pension plans. In Q1, these plans experienced a $93 billion loss in funding, largely resulting from volatile equity markets that produced an aggregate -0.75% investment return for these plans. In comparison, the PPFI investment return for 2017 Q4 was 3.24%. From January 1, 2018 to March 31, 2018, the PPFI pensions saw their funded status drop from 73.1% to 71.4%.

• Milliman: Healthy multiemployer pension plans achieve best funding in a decade, but unhealthy plans continue to languish

  09 May 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its Spring 2018 Multiemployer Pension Funding Study (MPFS), which analyzes the funded status of all multiemployer pension plans in the United States. As of December 31, 2017, the plans achieved an aggregate funded ratio of 83%, the highest since the market collapse in 2008; a decade ago, the aggregate funded ratio of all multiemployer plans stood at 85%.

• Milliman adds International Union of Operating Engineers (IUOE) Local 25, Marine Division, as a retirement services client

  07 May 2018

  Milliman, Inc., one of the premier global consulting, actuarial, and benefit administration firms, today announced it has added the International Union of Operating Engineers (IUOE) Local 25, Marine Division, as a defined contribution client. IUOE Local 25, Marine Division, covers approximately 2,000 participants in the dredging industry from Maine to Florida.

• Milliman analysis: Corporate pension contributions reach record-level in 2017, funding status improved to 86.0%

  18 April 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its 2018 Corporate Pension Funding Study (PFS), which analyzes the 100 largest U.S. corporate pension plans. Overall, this year’s study found that in 2017 corporate pension contributions hit $62 billion, tying the amount contributed in 2012 for the highest contributions since the inception of the PFS. Seventeen employers contributed at least $1 billion to their plans, with seven of them contributing more than $2 billion.

• Milliman analysis: Home downsizing scheme to help older Australians with smaller super balances

  16 April 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released research that found a new scheme aimed at encouraging older Australians to downsize their homes is likely to help couples with lower superannuation balances.

• Milliman study: Risk management evolving from a control function to a strategic business partner among insurers in Asia

  05 April 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the release of its latest report, “Enterprise risk management: Global best practices and key challenges in Asia.” The study examines the evolution of the risk function and risk management best practices among leading life insurers in the region.

• Milliman receives PLANSPONSOR award for excellence in Defined Contribution Survey

  19 March 2018

  Milliman, Inc., one of the premier actuarial, consulting, and benefits administration firms, is pleased to announce that it is the recipient of a PLANSPONSOR “Silver” award for excellence in the publication’s 2017 Defined Contribution (DC) Survey. The annual survey catalogued nearly 3,500 responses from defined contribution plan sponsors nationwide, who were asked how satisfied they were with their provider.

• Milliman adds Property & Casualty office in Tampa in response to growing demand for property insurance analytics

  16 March 2018

  Milliman, Inc., a premier global consulting and actuarial firm, is pleased to announce the addition of Property & Casualty expertise in its Tampa office, in response to the growing demand for the firm’s property insurance analytics. As domestic property insurers expand up and down the Atlantic and Gulf coasts, the new Tampa P&C presence demonstrates Milliman’s continued commitment to the region and its growing insurance market.

• Milliman analysis: Corporate pensions’ investment losses in February buoyed by higher discount rates

  07 March 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. Despite the market volatility in February, these pensions experienced a $13 billion improvement in funded status thanks to an increase in the corporate bond rates used to measure pension liabilities. While the market value of assets for these pensions lost $32 billion in February, plan liabilities also shrunk, narrowing the deficit from $219 billion at the end of January to $206 billion as of February 28. The funded ratio for the Milliman 100 PFI rose from 87.3% to 87.7% during the same time period.

• Milliman hires Samie Moore, formerly of Mercer and Hewitt, to expand life, absence, and disability offerings

  05 March 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced that Samie Moore is joining the company’s Health & Welfare group as an end-to-end life, absence, and disability (LAD) consultant. Moore, formerly of Mercer and Hewitt, is a nationally recognized expert in LAD with 14 years’ industry experience consulting to Fortune 500 companies, with deep subject matter expertise in Family Medical Leave (FML), vacation, Paid Time Off (PTO), disability and parental leave.

• MedInsight Health Waste Calculator featured in Health Affairs’ third most-read article of 2017

  27 February 2018

  Milliman, Inc., a leading global provider of actuarial, risk management, and technology solutions, today announced that the firm’s MedInsight Health Waste Calculator – a leading analytic platform that provides actionable data around healthcare quality, efficiency, and effectiveness – was featured in Health Affairs’ third most-read article of 2017. The article, “Low-Cost, High-Volume Health Services Contribute The Most To Unnecessary Health Spending,” highlights the Commonwealth of Virginia’s use of the MedInsight Health Waste Calculator, which found more than $586 million in unnecessary costs in the Virginia All-Payer Claims Database.

• Application period opens for Milliman’s Opportunity Scholarship for students under-represented in actuarial and related fields

  27 February 2018

  Milliman, Inc., a premier global consulting and actuarial firm, is pleased to announce that the firm’s second annual Milliman Opportunity Scholarship application period is now open and accepting entrants. The Milliman Opportunity Scholarship assists students from ethnic groups and races that are under-represented in the fields of actuarial science, data science, computer science, economics, programming, mathematics, statistics, data analytics, or finance.

• Milliman: Public pension funding improves by $60 billion, funded ratio climbs to 73.1% in 2017 Q4

  23 February 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the 2017 fourth quarter results of its Public Pension Funding Index (PPFI), which consists of the nation’s 100 largest public defined benefit pension plans. In Q4, these plans experienced a $60 billion improvement in funded status, the result of the continued robust trend in equity returns in 2017.

• Milliman analysis: Corporate pensions’ $61 billion funded status gain in January may cushion early February market slide

  13 February 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. While market movement in February may dampen January’s gains, during the first month of 2018 corporate pensions’ experienced their largest funded status improvement in over a year.

• New Milliman survey reveals 33 out of 40 companies use or plan to use accelerated underwriting in term life insurance

  29 January 2018

  Milliman, Inc., a premier global consulting and actuarial firm, recently released the results of a new broad-based survey on term life insurance, capturing historical data for key industry competitors as well as company perspectives on a range of issues pertaining to these products into the future. The Term Life Insurance Issues report is based on a survey of 40 term insurance companies. It includes detailed information on underwriting trends and other product and actuarial issues such as sales from calendar years 2013 to 2016, profit measures, target surplus, reserves, risk management, product design, compensation, and pricing.

• Milliman’s Arius named “Best reserving solution” in 2017 InsuranceERM Awards

  17 January 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced that Arius®, Milliman’s advanced analytics loss reserving software for insurers and reinsurers, was named “Best reserving solution” in the 2017 InsuranceERM awards. Senior industry experts from across Europe and the U.K. served as judges for the award.

• Milliman year-end analysis: Corporate pensions experience stellar investment returns alongside sinking discount rates in 2017

  10 January 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today released the year-end results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. During 2017, despite superb investment gains, these pensions experienced an overall $2 billion decrease in funded status due to a decline in the corporate bond rates used to measure pension liabilities. In December, the Milliman 100 PFI discount rate fell 46 basis points to 3.53%, marking the lowest year-end discount rate and fifth-lowest monthly discount rate in the PFI’s 17-year history.

• Milliman debuts Arius Enterprise, next generation loss reserving software for insurers and reinsurers

  03 January 2018

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the release of Arius® Enterprise, the next generation of advanced analytics software for loss reserving for the insurance and reinsurance industry.