Enterprise risk management


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Today's life insurance marketplace is full of risks—for example, credit, liquidity, market, and longevity risk. Operating in the rapidly developing markets of Central and Eastern Europe adds yet another layer of uncertainty to the equation. In this complex environment, clients turn to Milliman to understand how to apply best practices in risk management to their business.

With Solvency II compliance deadlines approaching, many companies operating in the EU rely on Milliman to develop the sophisticated enterprise risk management frameworks required. We have broad experience in building robust economic capital models tailored to each organization's individual dynamics. We also have expertise in the country-specific risk management requirements of the region’s non-EU countries.

Our actuarial strength means Milliman is in demand as a resource to assist companies seeking to upgrade their own internal financial controls. We can help design and implement new systems to better quantify, track, and manage organizational risk.

Expertise in new products

As the CEE life industry matures, Milliman can provide global expertise in financial risk management and hedging risk in more complex insurance products. Our team is highly experienced in designing portfolios to manage risk in unit-linked or guaranteed products such as variable annuities.

Many CEE markets have seen retail pension funds emerge as a policy response to the problem of providing pensions to aging populations. The structure of these funds bears many similarities to the structure of life insurance companies, and Milliman can offer these institutions actuarial services such as risk management, product development, and prudential reserving through its CEE consultants.