Milliman UK

Solving difficult challenges is what we do. #Milliman #SolutionsforaWorldatRisk #insurance #MillimanUK

📢 Milliman is at the world's largest gathering of insurance innovation #ITCVegas! Come and find us for a chat and some goodies. 🔍 Booth No: 2642 Yesterday Milliman's Sheri Scott was joined by industry's innovators Alexander Tsetsenekos (Luminar Technologies) and Gordon Malin (Elpha Secure), in a panel discussion on "Navigating the New Frontier: Mastering Emerging Risks with Innovative Pricing and Risk Transfer Strategies". If you didn't manage to catch the Milliman team yesterday, then make sure you visit the booth today! #Milliman #MillimanUK #ITCVegas #innovation

This report by Milliman UK consultants Neil Christy, Mirakh Modasia and Monique Mahabir reviews regulatory updates published during September 2024 that will be of interest to life insurers. It includes updates published by #PRA, #FCA, and #EIOPA amongst others. Highlights in September include: > FCA publishes research on approaches to increase pension engagement > The BoE and FCA open the Digital Securities Sandbox > EIOPA publishes its Staff Paper on the future of the Pan-European Pension Product > ESAs publish their Autumn 2024 Joint Committee Report on risks and vulnerabilities.   If you are interested to hear more about any of these updates and how they may impact your business, please do reach out. Link to report 👇 https://lnkd.in/ez_6Gbxx  

It is the last day of the Institute and Faculty of Actuaries Life Conference 2024! Why not stop by our stand for a chat, some goodies, and a chance to win a pair of Sony headphones?   Today, Milliman UK's Nick Spencer and Charlie Howell will be presenting 'Shaping Tomorrow: Redefining Climate Scenarios For a Sustainable Future' at 9:55am in Workshop F4.   #IFoA #Milliman #MillimanUK #LifeConference2024 #Actuaries #Insurance

Milliman UK is at the Institute and Faculty of Actuaries Life Conference 2024! Come and find us at Stand 11 for a chat, some goodies and a chance to win Sony headphones!   Today Milliman UK's John Jenkins will be presenting:   🕦 with Richard Preston from Phoenix Group on 'Phoenix Group's 2023 Part VII transfer' at 11:40am in Workshop B4, and 🕟  with Russell Monro from Gallagher Re on 'Reinsuring into the sunset' at 4:25pm in Workshop C3   #IFoA #Milliman #MillimanUK #LifeConference2024 #Actuaries #Insurance

Thank you to everyone who made it to the 𝗔𝗸𝘂𝗿𝟴/𝗠𝗶𝗹𝗹𝗶𝗺𝗮𝗻 Event last Thursday! It turned out to be a successful evening with some very insightful talks. This year’s theme was “𝐑𝐞𝐬𝐡𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 𝐚𝐧𝐝 𝐑𝐞𝐬𝐞𝐫𝐯𝐢𝐧𝐠 𝐓𝐡𝐫𝐨𝐮𝐠𝐡 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲, 𝐄𝐱𝐩𝐞𝐫𝐭𝐢𝐬𝐞, 𝐚𝐧𝐝 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧.” 🔊 A quick recap of the event: ➤ A discussion of Innovation methodologies at Amazon by Arno de Wever, EMEA Lead for P&C Insurance at Amazon Web Services. A key point was "Working Backwards" - becoming Earth's most customer-centric company is Amazon's Mission. ➤ A talk from Felix d'Alançon (Akur8) and Veekash Badal (Milliman UK) on “Pricing and Reserving functions that bring maximum value to the business. Veekash provided an overview of how technology has been reshaping Reserving over the years, and what the future might look like with developments in Machine Learning, while Felix focused on how Akur8 can bring innovation to Reserving through their existing expertise in Pricing. ➤ A panel on “𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 𝐚𝐧𝐝 𝐑𝐞𝐬𝐞𝐫𝐯𝐢𝐧𝐠: 𝐥𝐞𝐬𝐬𝐨𝐧𝐬 𝐢𝐧 𝐡𝐨𝐰 𝐭𝐨 𝐬𝐮𝐜𝐜𝐞𝐬𝐬𝐟𝐮𝐥𝐥𝐲 𝐧𝐚𝐯𝐢𝐠𝐚𝐭𝐞 𝐜𝐡𝐚𝐧𝐠𝐞”, with Lucy Feng (Head of Pricing models, AXA), Alex Poracchia (Transformation Director, Asta) and Rob Porter (Product Director, Canopius Vave), moderated by our own Charlotte Halkett (Milliman UK). We got to hear a range of views on whether change is sparked by opportunities or threats. We would be interested to hear your thoughts down below! All followed by cocktails and networking. If you attended the event, please let us know how we did in the feedback form: https://bit.ly/3No837R. Can't wait for what's in store next year! 👏

Ian Penfold and Vidyut Vardhan have been reviewing the SFCRs relating, as at the 2023 year-end, to non-life insurers regulated in 13 EU countries, the United Kingdom and Gibraltar. In this newly published report, they set out the results of their analyses of the SFCRs and highlight some of their key findings.   Their report includes analyses of: ♦️ Solvency coverage ratios; ♦️ Solvency capital requirements and minimum capital requirements; ♦️ Own funds; ♦️ Main balance sheet items; and ♦️ Underwriting trends.   ☛ Link to the report: https://lnkd.in/ewN6BXNx #millimanuk #SFCR

⭐ Here's my latest blog on how insurtech is structuring for #innovation. ⭐ I've spent 15 years building companies and relationships in the #insurtech community. I've noticed a diversification of focus for the latest wave of insurtechs compared to the early insurtech 1.0 cohorts. Insurtechs now are showing innovation in not just their business fundamentals - but the way they structure their businesses and choose to partner too. I argue it can only be a good thing that businesses are considering how they fit into the bigger #insurance picture. Companies are playing to their strengths and it encourages subject matter experts from outside insurance to add their depth to products. I'd love your thoughts! #insurance #ITCVegas #becauseofITC https://lnkd.in/eu9aEVS7

Each year the Milliman UK Life and Financial Services practice analyse the results published in life insurers' Solvency and Financial Condition Reports (SFCRs) in the UK and Europe. In our latest report, authored by Sam Burgess, Neil Christy, Yuliia Maznytsia, Diya Pittie and Isabel Stansfield, we lay out a detailed analysis of UK and European life insurers where we ask ourselves the question - how solvent are UK and European life (re)insurers? Highlights from the report include: > UK life insurers reported gross Technical Provisions of £2.1 trillion at year-end 2023, up from £1.9 trillion at year-end 2022 > UK life insurers’ solvency ratios were 190% on average at year-end 2023 (up from 189% at year-end 2022), compared to 245% for EEA insurers > The use of long-term guarantee measures contributed 129 percentage points to the average solvency ratio of UK life insurers (up from 125 percentage points at year-end 2022), of which 117 percentage points came from the use of the Matching Adjustment (up from 101 percentage points at year-end 2022) To read the report, please click here: https://lnkd.in/eppYwtPG #Milliman #MillimanUK #SolvencyII #SFCR 

John Jenkins from Milliman UK will be jointly presenting with Richard Preston from Phoenix Group on the topic ‘𝗣𝗵𝗼𝗲𝗻𝗶𝘅 𝗚𝗿𝗼𝘂𝗽 𝟮𝟬𝟮𝟯 𝗣𝗮𝗿𝘁 𝗩𝗜𝗜 𝘁𝗿𝗮𝗻𝘀𝗳𝗲𝗿’ at the Institute and Faculty of Actuaries’ Life Conference in Manchester. 📅 Date: 15th October, 2024 🕒 Time: 11:40am – 12:25pm 📍 Location: Workshop B4 Join us to learn about the recent Part VII transfer carried out by Phoenix Group, to combine 4 of its life companies into one life company, involving the transfer of 5 million policies and £140 billion of assets. Richard will be sharing Phoenix’s strategic rationale, design, communication strategies, and the challenges overcome. John, as the Independent Expert, will be focusing on the key IE considerations, financial analyses, and the management of policyholder objections. Feel free to also visit the Milliman stand for a good chat and a chance to win an exciting prize! For more details, click here: https://lnkd.in/eRBaFdHN #LifeConference2024 #PartVIITransfer #LifeInsurance #MillimanUK #Milliman