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21 December 2015
Milliman, a premier global consulting and actuarial firm, today announced that its MG-ALFA® software, a financial modeling and actuarial projection system for insurance companies used for product development and pricing, financial management, risk management analysis, and regulatory compliance, won best actuarial software for 2015 as determined by Actuarial Post. Actuarial Post is a British publication providing news and analysis for the actuarial marketplace.
09 December 2015
Milliman, a premier global consulting and actuarial firm, today announced that it moved its New Jersey office from Woodland Park to Little Falls on Friday, December 4. Milliman had been in Woodland Park for over 25 years.
07 December 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which analyzes the 100 largest U.S. corporate pension plans. In November, these pension plans experienced a $3 billion decrease in funded status based on a $3 billion decrease in asset values and no movement in pension liabilities. The funded status for these pensions decreased from 83.5% to 83.3%.
30 November 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released its fourth annual Public Pension Funding Study, which consists of the nation’s 100 largest public defined benefit pension plans and analyzes these plans from both a market value and an actuarial value perspective.
09 November 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which analyzes the 100 largest U.S. corporate pension plans. In October, these pension plans experienced a $25 billion increase in funded status based on a $33 billion increase in asset values and an $8 billion increase in pension liabilities. The funded status for these pensions increased from 81.7% to 83.3%.
06 November 2015
Milliman, a premier global consulting and actuarial firm, today released the results of its Fall 2015 Multiemployer Pension Funding Study (MPFS), which analyzes the cumulative funded status of all U.S. multiemployer pension plans. These pension plans showed little movement in the last six months, dropping from 80% as of December 31, 2014, to 79% as of June 30, 2015.
03 November 2015
Milliman, a premier global consulting and actuarial firm, today announced that its Hospital Performance Index (HPI) software, a benchmarking tool for payers and providers that uses statistical methods to identify opportunities for increased efficiency in patient populations, has added two new capabilities.
27 October 2015
Milliman, Inc., a premier global consulting and actuarial firm, announced today that it has released version 2.7 of Arius, its state-of-the-art loss reserving system for property & casualty insurers. This latest release, which was previewed at last month’s Casualty Loss Reserve Seminar in Atlanta, offers enhanced graphics and new actual vs expected diagnostic tools, allowing actuaries to more effectively focus their efforts and expertise, possibly identifying changes or patterns in the insurer’s data, spotting and addressing issues and opportunities more quickly, and making more informed business decisions.
09 October 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which analyzes the 100 largest U.S. corporate pension plans. In September, these pension plans experienced a $28 billion decrease in funded status based on a $19 billion decrease in asset values and a $9 billion increase in pension liabilities. The funded status for these pensions decreased from 83.3% to 81.7%.
25 September 2015
Milliman, Inc., a premier global actuarial, consulting, and administrative firm, announced this week that a group of its clients are being recognized by the Financial Services Roundtable’s “Save 10” initiative, which is a business-to-business, peer-to-peer effort encouraging responsible employers to help their employees better prepare for retirement by helping them to save 10 percent of their income.
09 September 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which analyzes the 100 largest U.S. corporate pension plans. In August, these pension plans experienced a $22 billion decrease in funded status based on a $42 billion decrease in asset values and a $20 billion decrease in pension liabilities. The funded status for these pensions decreased from 84.9% to 83.4%.
09 September 2015
Milliman, Inc., a premier global consulting and actuarial firm, today announced the availability of two new reports detailing embedded value (EV) results for 32 major insurance companies in Europe and 34 major insurance companies operating in Asia. The reports examine trends among companies reporting EVs as of year-end 2014.
06 August 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which analyzes the 100 largest U.S. corporate pension plans. In July, these pension plans experienced a $16 billion decrease in funded status based on a $10 billion increase in asset values and a $26 billion increase in pension liabilities. The funded status for these pensions decreased from 85.5% to 84.8%.
30 July 2015
The popularity of indexed universal life (IUL) products has increased over the last few years as reported by participants in Milliman’s annual comprehensive study of universal life (UL) and IUL issues. Total IUL sales as a percent of total UL and IUL sales combined for survey participants increased from 25% in 2011 to 45% during the first nine months of 2014.
27 July 2015
Milliman, Inc., a premier global consulting and actuarial firm, today announced that St. Johns Insurance Company has adopted Pixel™, a competitive intelligence tool for property and casualty insurance companies, along with Milliman’s proprietary market baskets.
09 July 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which analyzes the 100 largest U.S. corporate pension plans. In June, these pension plans experienced a $36 billion increase in funded status based on a $28 billion decrease in asset values and a $64 billion decrease in pension liabilities. The funded status for these pensions increased from 84.1% to 85.6%.
07 July 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released Enterprise Risk Management (ERM) Self-Assessment, a platform that allows companies to benchmark ERM maturity levels and processes.
07 July 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released Enterprise Risk Management (ERM) Self-Assessment, a platform that allows companies to benchmark ERM maturity levels and processes.
23 June 2015
Milliman, Inc., a premier global consulting and actuarial firm, today announced new research into the administrative costs associated with Medicaid managed care plans. These plans have become increasingly popular due to the Affordable Care Act’s Medicaid expansion provisions and the continued growth of the managed care delivery system within Medicaid. This information is especially valuable now, with the release of the proposed 2016 CMS capitation rate-setting guidance and the CMS proposed rule for Medicaid managed care. These CMS regulations require greater documentation of Medicaid managed care administrative costs, and may be useful as plans look to establish benchmarks.
18 June 2015
Milliman, Inc., a premier global consulting and actuarial firm, today published research on regulatory reform in the United Arab Emirates. The regulations, issued earlier this year by the Insurance Authority (IA), include a transition period of up to three years, but insurers are advised to begin transitioning immediately.
09 June 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which analyzes the 100 largest U.S. corporate pension plans. In May, these pension plans experienced a $31 billion increase in funded status based on a $3 billion decrease in asset values and a $34 billion decrease in pension liabilities. The funded status for these pensions increased from 82.6% to 84.1%.
20 May 2015
Milliman, Inc., one of the premier global consulting and actuarial firms, today announced that its popular healthcare analytic platform, MedInsight, has been named a leader in the IDC MarketScape study, entitled “U.S. Payer Data Analytics 2015 Vendor Assessment, doc #HI255269, April 2015.” The company is one of eight vendors evaluated in the report.
19 May 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the 2015 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 2015, costs for this family will increase by 6.3% ($1,456), resulting in a total cost of $24,671. The employer pays $14,198 of this and the employee—through payroll deductions and cost sharing at the time of service—pays $10,473. Of this year’s total $1,456 increase, $467 was a result of prescription drugs, a 13.6% increase after a five-year period in which prescription drug costs averaged annual increases of 6.8%.
11 May 2015
Milliman, Inc., a premier global consulting and actuarial firm, today announced the availability of Pixel™, a competitive intelligence tool for insurance companies. Pixel is a web-based, interactive platform designed to give marketing executives, product managers, and actuaries a comprehensive and customized view of the market.
07 May 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which analyzes the 100 largest U.S. corporate pension plans. In April, these pension plans experienced a $40 billion increase in funded status based on a $2 billion decrease in asset values and a $42 billion decrease in pension liabilities. The funded status for these pensions increased from 80.9% to 82.6%.
06 May 2015
With more than half of Americans not saving enough for retirement, the Financial Services Roundtable (FSR), Washington’s leading financial trade association, is recognizing Milliman with a “Save 10” award for their tremendous efforts to help their employees prepare for a secure retirement by enabling them to save 10% of their income.
04 May 2015
Milliman, Inc., one of the premier global consulting and actuarial firms, announced today the formal launch of their new MedInsight Employer Group Reporting (EGR) Solution. The MedInsight EGR Solution is designed for health plans to support the key function of client reporting; helping a health plan’s employer clients accurately understand the value they receive from their benefit spend and also providing a realistic performance comparison with other employers in the region.
23 April 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which analyzes the 100 largest U.S. corporate pension plans. In March, these pension plans experienced a $6 billion decrease in funded status based on decreases in asset values and increases in pension liabilities. This month’s analysis reflects the results of the 2015 Pension Funding Study, published on April 2nd.
02 April 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its 2015 Pension Funding Study, which analyzes the 100 largest U.S. corporate pension plans. In 2014, these pension plans experienced a funded status decline despite a 10.9% investment return, with plan liabilities for these 100 plans increasing by $189.2 billion and assets increasing by $57.9 billion. This resulted in a $131.3 billion increase in the funded status deficit, representing a funding ratio decline of 6.1%.
19 March 2015
Milliman, Inc., a premier global consulting and actuarial firm, was named the Best Advisory Firm at the 2015 International Takaful Summit held in London.
18 March 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its Spring 2015 Multiemployer Pension Funding Study (MPFS), which analyzes the cumulative funded status of all U.S. multiemployer pension plans. These pension plans experienced little movement last year, slipping slightly from an 81% funded status at the end of 2013 to an 80% funded status at the end of 2014. As was the case in 2013, many mature plans are still struggling to recover from the financial crisis.
12 March 2015
Milliman, Inc., one of the premier global consulting and actuarial firms, announced today that their healthcare analytic platform, MedInsight, has achieved the National Committee for Quality Assurance (NCQA) certification for Healthcare Effectiveness Data and Information Set (HEDIS®) 2015 Measures. Since its introduction in 1993, HEDIS has evolved to become the gold standard in managed care performance measurement.
09 March 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which consists of 100 of the nation’s largest defined benefit pension plans. The funded status of the 100 largest corporate defined benefit pension plans increased by $80 billion during February, as measured by the Milliman 100 Pension Funding Index (PFI).
17 February 2015
Milliman, one of the premier global consulting and actuarial firms, today announced the election of Kenneth P. Mungan as Chairman of the Board. Milliman’s board of directors made the announcement, acting to confirm the results of a vote by the privately held firm’s principals.
05 February 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which consists of 100 of the nation’s largest defined benefit pension plans. The funded status of the 100 largest corporate defined benefit pension plans dropped by $90 billion during January, as measured by the Milliman 100 Pension Funding Index (PFI). The $90 billion funded status decline was the 8th largest monthly drop in the 15-year history of the Milliman 100 PFI. The funded status deficit ballooned to $382 billion from $292 billion at the end of December 2014, due to the 42 basis point decline in the benchmark corporate bond interest rates used to value pension liabilities.
07 January 2015
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which consists of 100 of the nation’s largest defined benefit pension plans. In December, these plans experienced a $19 billion increase in pension liabilities and a $3 billion decrease in asset value, resulting in an $22 billion increase in the pension funded status deficit and a funded ratio of 83.6%. For the year, despite market returns of $81 billion, these pensions experienced a $105 billion increase in the pension funded status deficit, fueled by a $186 billion increase in liabilities as interest rates fell to a historic low at year end.