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Craig W. Reynolds, FSA, MAAA

Principal, Consulting Actuary
Seattle, WA, US

Tel: +1 206 5045530

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Professional Designations

  • Fellow, Society of Actuaries
  • Member, American Academy of Actuaries


  • BS, Mathematics, Massachusetts Institute of Technology

Current Responsibility

Craig is a principal and consulting actuary with the life insurance consulting practice of the Seattle office of Milliman. He joined the firm in 1989.


Craig co-manages Milliman’s Seattle Life practice and works primarily on assisting clients with development, analysis, and validation of long-term financial forecasts on a statutory, U.S. GAAP, or IFRS basis. Such forecasts are often used for product pricing, principles-based valuation or capital determination, risk management, statutory and GAAP projections and valuation, business planning, mergers and acquisitions, cash-flow testing, or litigation support. Craig has extensive U.S. experience and has also worked in a number of countries around the world, including Japan, South Korea, China, Bermuda, Canada, France, Brazil, Mexico, Chile, Colombia, and Argentina.

As a former member of the MG-ALFA® development team, Craig has extensive experience in actuarial software design, validation, training, and implementation. He has coordinated the MG-ALFA implementation at many different insurance companies around the world, and is one of the lead consultants related to MG-ALFA work at many more.

In recent years, most of Craig’s work has focused on designing, validating, and using such corporate models for MCEV, ALM, GAAP valuation, and forecast work. He has also worked with companies to implement efficient stochastic pricing, IFRS reporting and valuation, and C-3 Phase 2 risk-based capital models. He has been involved in a number of major reinsurance and international merger and acquisition assignments, including post-purchase implementation of P-GAAP financial reporting processes.

Craig has also worked extensively in ALM and risk-analysis of fixed and indexed deferred annuity products, including development and implementation of complex interest-sensitive dynamic lapse algorithms and stochastic GLWB election.

Craig has extensive experience with pricing and modeling of many product types, including universal life, traditional life, and variable, fixed, and indexed annuities.

Craig is the immediate past president of the Society of Actuaries.

Presentations and publications

  • Craig has taught actuarial mathematics for the University of Washington.
  • He has completed a number of published research projects for Milliman, including papers on SOP 03-1, SOP 05-1, and model compression.
  • He has written for several SOA publications and is a frequent speaker at SOA and local actuarial club meetings, speaking recently on professionalism, ALM, SOP 03-1, international financial reporting processes, and model compression.
  • He is a member of the American Academy of Actuaries Model Efficiency Working Group and co-authored the AAA principles-based reserves practice note.
  • Work at Milliman

    • “I was offered a chance to come in, shake things up, create something."
    Work at Milliman