Milliman

© 2026 Milliman, Inc. All Rights Reserved. The information in this document represents the opinion of the author(s) and is not representative of the views of Milliman, Inc. Milliman does not certify the information, nor guarantees the accuracy and completeness of such information. The information provided should only be used in conjunction with the advice of the recipient’s own qualified professionals after an independent review of its accuracy and completeness is performed.

Greater than the sum of its parts Milliman M&A solutions Post-deal integration The work doesn’t end when the contract is signed. We help you harmonise competing product offerings and meld financial systems, asset liability management strategies, and investment portfolios. Advanced modelling Our sophisticated financial models deliver accurate projections and valuations of company assets—and beyond.

The Solvency II Review has introduced a requirement for (re)insurers to prepare a sustainability risk plan (SRP) as part of a suite of new measures supporting the European Union's sustainable finance agenda.

This abstract provides a summary of the briefing note. Please download the PDF for the full analysis. In this briefing note, we analyse the SFCRs of the seven largest life entities of Dutch insurers selected based on their total assets as of year-end 2025, as well as the life insurance market as a whole. The total assets of these life insurance entities sum to about €369 billion, representing about 98% of the total assets of life insurers based in the Netherlands.

Introduction: How long-term care is delivered in Ireland, and how population changes will affect demand This paper is the first in a two-part series examining long-term care in Ireland and whether the insurance industry has a role in meeting Ireland’s growing long-term care challenge. This paper will cover the long-term care challenge by discussing the current provision of long-term care in Ireland and how demographic changes are likely to impact future demand.

Below please find Periodical Market updates for each of our portfolios. Each one addresses the market and shows Milliman’s SmartShield performance relative to respective benchmarks.

In our previous briefing note from May 2025,1 we discussed how we expected numbers of non-life Part VII transfers, which had been subdued for a number of years, to see an uptick. In this article we look at both the transfers that took place in 2025 and expectations for 2026. Background Part VII transfers are court-sanctioned novations of portfolios of insurance policies from one insurer to another.

I work as head of actuarial function (HAF) and consultant to life and non-life insurers of quite different sizes and sophistication. This gives me a view of the issues that come up consistently across the industry. I plan to publish a short set of questions annually that I think non-executive directors should be putting to their actuarial teams. This is the first edition. It clearly cannot be comprehensive.

Introduction Expense assumptions are sometimes viewed as the least “actuarial” components of insurance liability measurement. They do reach boards and audit committees, particularly where expense overruns are visible or solvency coverage is tight. However, what may not be fully appreciated is how wide the permissible range of interpretation can be within the existing standards, and how differently peers may be applying them.

This report examines the key regulatory updates in March for life insurance companies in the United Kingdom and Europe. We note items published by the European Insurance and Occupational Pensions Authority (EIOPA), Financial Conduct Authority (FCA), and the Prudential Regulation Authority (PRA). Key developments include: EIOPA proposes amendments aimed at easing insurers’ supervisory reporting and disclosure requirements.