Actuarial

About Milliman

Milliman is among the worlds largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.

This position is for Milliman’s office in Saudi Arabia. The candidate would be expected to support consulting work done for client in the middle east / GCC region.

Position: Senior Consultant – Property & Casualty (P&C)

Profile: P&C Consulting Actuary / Insurance Consultant (FIA/FSA/FCIA/ACAS/FCAS or equivalent)

Key Responsibilities

• Provide actuarial and consulting advice on Property & Casualty insurance matters to insurers, reinsurers, captives, brokers, regulators, and corporate clients.
• Support clients with reserving, pricing, profitability analysis, capital modeling, risk management, and portfolio performance assessment.
• Experience in local and international regulatory and accounting frameworks applicable to P&C insurance, including IFRS 17, Solvency II, RBC, or equivalent standards.
• Advise clients on matters affecting underwriting performance, claims reserving, product development, reinsurance optimization, and financial reporting.
• Perform actuarial valuations and analyses for loss reserves, premium liabilities, and risk exposures.
• Support business transformation initiatives including process improvement, model development, automation, and implementation of actuarial systems/tools.
• Manage projects independently, ensuring high-quality delivery within timelines and budget.
• Work on proposals, business development initiatives, and potential engagements to contribute to the growth of the practice in the region.
• Build and maintain strong client relationships and provide day-to-day consulting support.
• Other general consulting work.
• Any development work assigned from time to time.
  
  

• 10+ years of experience in Property & Casualty actuarial or insurance consulting work.
• Strong experience in reserving, pricing, capital modeling, reinsurance, and regulatory reporting.
• Experience of working in the GCC / Middle East market will be an advantage.
• Good understanding of P&C market dynamics, underwriting, claims, and risk management practices.
• Strong interpersonal, communication, and presentation skills.
• Ability to work independently or as part of a team.
• Strong project management and stakeholder management capabilities.
• Proficiency in actuarial and analytical tools such as Excel, R, Python, SAS, SQL, ResQ, Emblem, Radar, or similar will be an advantage.
  
  

• Bachelor’s or Master’s degree in actuarial science, mathematics, statistics, finance, economics, or any other major with strong quantitative coursework.
• Qualified or nearly qualified Fellow/Associate Actuary preferred.
• Relevant actuarial or insurance certifications in Property & Casualty will be an advantage.