Press releases
- Annual Milliman survey reveals a significant shift in sales from universal life insurance to indexed universal life insurance
26 May 2020
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its annual comprehensive study of universal life (UL) and indexed universal life (IUL) issues. The 13th annual Milliman study, “Universal Life and Indexed Universal Life Issues,” is based on a survey of 30 UL/IUL companies.
- Milliman Medical Index: Healthcare costs reach $6,553 for the average American, $28,653 for hypothetical family of four
21 May 2020
Milliman, Inc., a premier global consulting and actuarial firm, today released the 2020 Milliman Medical Index (MMI), which measures healthcare costs for individuals and families receiving coverage from an employer-sponsored preferred provider plan (PPO).
- Milliman analysis: Estimated cost of retiree pension risk transfer drops slightly from 105.7% to 105.5% in April
18 May 2020
Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its new Milliman Pension Buyout Index (MPBI). As the Pension Risk Transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer.
- Milliman analysis: Despite investment gains, corporate pensions’ funded ratio drops to 84.0% in April
15 May 2020
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, corporate pensions saw their funding ratios decline as discount rates dropped below 3%, nearing all-time PFI lows and offsetting positive investment gains for the month.
- Milliman analysis: April market rebound helps public pensions recover half of Q1 losses, with $200 billion funding improvement
13 May 2020
Milliman, Inc., a premier global consulting and actuarial firm, today released a special April edition of its Public Pension Funding Index (PPFI), in light of the COVID-19 pandemic and resulting market volatility. Milliman’s PPFI consists of the nation’s 100 largest public defined benefit pension plans.
- New insurtech product, Milliman PinPoint, selected by North Carolina Rate Bureau to deliver granular flood rating plan
6 May 2020
Milliman, Inc., a premier global consulting and actuarial firm, today announced the launch of Milliman PinPoint, an innovative insurtech software solution that enables insurers to cost-effectively evaluate, price, and market residential property and flood products through location-level geospatial information that is customizable for each unique user.
- Milliman analysis: Default risk remained low through 2019 Q4, but economic volatility from COVID-19 will put pressure on mortgage performance
1 May 2020
Milliman, Inc., a premier global consulting and actuarial firm, today announced the fourth quarter 2019 results of the Milliman Mortgage Default Index (MMDI), which shows the latest monthly estimate of the lifetime default risk of U.S.-backed mortgages.
- Milliman Wins Prestigious 2020 Gold Quill Award
29 April 2020
Milliman recently won a 2020 Gold Quill Award in Human Resources and Benefits Communication from the International Association of Business Communicators (IABC). Milliman received the award for its “Benefits = Coverage You Can Count On” Open Enrollment campaign, a new benefits brand designed to play off the firm’s actuarial roots.
- Milliman analysis: Corporate pension funding ratio at 87.5% at 2019 year-end despite best asset performance in 16+ years
28 April 2020
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its 2020 Corporate Pension Funding Study (PFS), which analyzes the 100 largest U.S. corporate pension plans. In 2019, these plans experienced their second-highest asset performance in PFS history, with aggregate gains of 17.3% – second only to 2003’s investment return of 19.5%.
- Milliman projects COVID-19 pandemic could reduce 2020 U.S. healthcare expenditures by $75 billion to $575 billion
23 April 2020
Milliman, Inc., a premier global consulting and actuarial firm, released a report today projecting the COVID-19 pandemic will reduce U.S. nationwide healthcare expenditures by at least $75 billion and by as much as $575 billion in 2020. The report, “Estimating the financial impact of COVID-19 on 2020 healthcare costs,” models 18 different scenarios with varying infection rates and durations of care deferral.
- Milliman analysis: Estimated cost of retiree pension risk transfer rises from 105.2% to 105.7% in March
22 April 2020
Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its new Milliman Pension Buyout Index (MPBI). As the Pension Risk Transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer. The MPBI uses the FTSE Above Median AA Curve, along with annuity purchase composite interest rates from insurers, to estimate the average cost of a PRT annuity de-risking strategy.
- Milliman analysis: Corporate pensions see surprising $93 billion funding gain in March from massive discount rate surge
7 April 2020
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. Corporate pensions in March experienced a $93 billion increase in funded status, despite deteriorating economic conditions and in the midst of the global COVID-19 pandemic that brought heavy investment losses. Between February 29 and March 31, the Milliman 100 PFI funded ratio climbed from 82.1% to 85.6%.
- Milliman analysis: Estimated cost of retiree pension risk transfer climbs from 104.6% to 105.2% in February
31 March 2020
Seattle - Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its new Milliman Pension Buyout Index (MPBI). As the Pension Risk Transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer. The MPBI uses the FTSE Above Median AA Curve, along with annuity purchase composite interest rates from insurers, to estimate the average cost of a PRT annuity de-risking strategy.
- Milliman analysis: Corporate pension funding ratio down to 82.2% in February thanks to market volatility, low discount rates
11 March 2020
Seattle - 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 February, discount rate declines combined with market volatility caused the PFI funding status to worsen by $71 billion, while the funded ratio for these plans dropped from 85.5% to 82.2% for the month. The last time the PFI funded ratio was this low was November 30, 2016.
- Milliman analysis: Public pension funding ratio hits three-year high in Q4 2019 at 74.9%, but February’s market volatility will likely erase some of those gains in Q1 2020
2 March 2020
Seattle - Milliman, Inc., a premier global consulting and actuarial firm, today released the fourth quarter 2019 results of its Public Pension Funding Index (PPFI), which consists of the nation’s 100 largest public defined benefit pension plans. During Q4 2019, the overall funded ratio for these plans climbed from 72.7% to 74.9%, which as of December 31 marks the highest quarterly result in the history of the PPFI. Comparatively, at the end of 2018, the Milliman PPFI funded ratio was at 67.2%.
- Milliman launches monthly Pension Buyout Index to track the estimated cost of retiree pension risk transfer transactions
27 February 2020
Seattle - Milliman, Inc., a premier global consulting and actuarial firm, today announced the launch of the new Milliman Pension Buyout Index (MPBI). As the Pension Risk Transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer.
- Milliman analysis: Multiemployer pension plans’ aggregate funding percentage reaches 85% in 2019, matching pre-financial crisis levels
25 February 2020
Seattle - Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Multiemployer Pension Funding Study (MPFS), which analyzes the funded status of all multiemployer defined benefit pension plans in the United States.
- Milliman adds IBEW Local 405 as a retirement services client
25 February 2020
Seattle - Milliman, Inc., one of the premier global consulting, actuarial, and benefits administration firms, today announced it has added the IBEW Local 405 Deferred Savings Plan as a defined contribution client. The plan includes 900 participants and $184 million in assets.
- Milliman and Enova announce strategic alliance providing next generation advanced analytic solutions to life insurance industry
24 February 2020
Seattle - Milliman, Inc., a premier global consulting and actuarial firm, and Enova Decisions, a leading financial technology and analytics company, today announced a strategic alliance aimed at bringing new advanced analytics to insurers. The alliance brings together Milliman’s deep domain expertise and data resources and Enova Decisions’ real-time analytic capabilities, giving insurers an innovative platform for retaining customers, optimizing sales operations, and maximizing the value of current and future customers.
- Milliman report on U.S. organ and tissue transplants projects 11% rise in average annual cost in 2020
19 February 2020
Seattle - Milliman, Inc., a premier global consulting and actuarial firm, today released the 2020 edition of its triennial report on the estimated costs of U.S. organ and tissue transplants. The report summarizes average annual costs per member per month (PMPM), including utilization and billed charges, related to the 30 days prior through 180 days after transplant admission for organ and tissue transplants. This includes single-organ transplants such as heart, intestine, kidney, liver, lung, and pancreas, and a number of multiple-organ transplants; tissue transplants include bone marrow and cornea.
- Milliman survey reveals 25 out of 28 companies use or plan to use accelerated underwriting in term life insurance
13 February 2020
Seattle -Milliman, Inc., a premier global consulting and actuarial firm, recently released the results of its biennial broad-based survey on term life insurance. The survey captured 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 28 term insurance companies. It includes detailed information on underwriting trends and other product and actuarial issues such as sales, profit measures, target surplus, reserves, risk management, product design, compensation, and pricing.
- Milliman analysis: January’s discount rate hits 20-year record low, sending corporate pension funding plummeting
10 February 2020
Seattle - 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 January, steep discount rate declines caused the PFI funding deficit to swell by $73 billion; the funded ratio for these plans subsequently dropped from 89.0% to 85.7% for the month.
- Milliman analysis: Despite economic pressure on home price growth, low interest rates keep mortgage default risk low in 2019 Q3
4 February 2020
Seattle - Milliman, Inc., a premier global consulting and actuarial firm, today announced the third quarter 2019 results of the Milliman Mortgage Default Index (MMDI), which shows the latest monthly estimate of the lifetime default risk of U.S.-backed mortgages.
- Opportunity International and Milliman launch first Opportunity Zone innovation hub in Sub-Saharan Africa
3 February 2020
Chicago - Opportunity International and Milliman are working together to launch the first extreme poverty Opportunity Zone innovation hub in Uganda.
- Milliman MedInsight ranked best in KLAS for payer quality analytics for second year in a row
31 January 2020
Seattle - MedInsight, Milliman, Inc.’s highly regarded platform for data warehousing and healthcare analytics, ranked number one in the 2020 Best in KLAS: Software and Services report for Payer Quality and Risk Analytics.
- Milliman adds Ironworkers Local 8 as a retirement services client
21 January 2020
Seattle - Milliman, Inc., one of the premier global consulting, actuarial, and benefits administration firms, today announced it has added the Wisconsin Ironworkers Union Individual Account Retirement Fund as a defined contribution client. The plan includes over 3,300 participants and $215 million in assets.
- Milliman announces Thomas D. Snook Global Health Practice Director
8 January 2020
Seattle - Milliman, Inc., one of the premier global consulting and actuarial firms, today announced the election of Thomas D. Snook as the firm’s Global Health Practice Director.
- Milliman year-end analysis: Corporate pensions see an overall investment gain of 15.66% in 2019, but funding still drops due to discount rate lows
8 January 2020
Seattle - 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. In 2019, corporate pension funding ended down $30 billion for the year, with the funding ratio dropping from 89.4% at the end of 2018 to 89.0% as of December 31, 2019.
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Milliman study: Steady Embedded Value (EV) growth story among Asia insurers in the first half of 2019
23 December 2019
Milliman, Inc., a premier global consulting and actuarial firm, today released its ‘2019 Mid-Year Embedded Value Results: Asia’ report. This update supplements the ‘2018 Embedded Value Results: Asia’ report, released in September 2019 and includes 2019 mid-year results posted by Asian insurers.
- Funded ratio for 100 largest U.S. public pensions climbs to 73.4%, according to Milliman estimates
23 December 2019
Seattle - Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its 2019 Public Pension Funding Study (PPFS), which analyzes funding levels of the nation’s 100 largest public pension plans, including an independent assessment on the expected real return of each plan’s investments.
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Milliman analysis: Corporate pension funding rises by $15 billion in November
5 December 2019
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. During November, the funded ratio for these plans rose slightly, from 86.1% to 86.8%, while the funded status deficit improved by $15 billion.
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Individual disability income (IDI) market reports modest overall growth, according to Milliman
26 November 2019
Seattle - Individual disability income (IDI) market reports modest overall growth, according to Milliman 15 IDI market leaders record combined 2018 new premium sales of $401 million, growth rate of 1.5%
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MBW International announces new partner to further enhance global services
18 November 2019
London – In response to client demand, MBW International, the leading independent alternative to the big three consulting firms for global pensions and employee benefits advice, has announced the addition of a third partner, Lurse. The organisation will become MBWL International with immediate effect.
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Milliman analysis: Corporate pension funding rises by $11 billion in October
07 November 2019
Seattle - 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. During October, the funded ratio for these plans rose slightly, from 85.4% to 86.1%, while the funded status deficit improved by $11 billion.
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Milliman analysis: Default risk for government-backed mortgages decreases in 2019 Q2 as low interest rates spur borrowers to refinance
30 October 2019
Seattle – Milliman, Inc., a premier global consulting and actuarial firm, today announced the second quarter 2019 results of the Milliman Mortgage Default Index (MMDI), which shows the latest monthly estimate of the lifetime default risk of U.S.-backed mortgages. The goal of the MMDI is to provide a benchmark to understand trends in U.S. mortgage risk.
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Milliman MedInsight Launches New MedInsight Provider Solution
22 October 2019
Seattle – MedInsight, Milliman, Inc.’s highly regarded platform for data warehousing and healthcare analytics, recently launched the newest release of its flagship product, the MedInsight Solutions. The newest release, called the MedInsight Provider Solution, was created in order to better serve and understand the performance of MedInsight’s over 100 providers.
