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Raji Bhagavatula, FCAS, MAAA

Principal, Consulting Actuary
New York, NY, US

Tel: +1 646 4733401

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Professional Designations

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


  • Masters, Mathematics, Osmania University, India

Current Responsibility

Raji is a principal and consulting actuary in the New York office of Milliman. She joined the firm in 1990.


Raji advises clients in the areas of mergers and acquisitions, pricing, reserving, strategic planning, and general management. Raji is most recognized for her work in the evaluation of asbestos, pollution, and other latent injury liabilities for both insurance companies and insureds.

Raji’s client base includes large global insurance and reinsurance companies as well as Fortune 500 companies. She is the managing partner on many global reserving and due diligence assignments.

Presentations and publications

Raji is a frequent speaker at industry meetings. She has authored many papers and articles on reserving topics, including asbestos and pollution.


  • Raji has served on several Casualty Actuarial Society (CAS) and American Academy of Actuaries (AAA) committees, including the AAA Mass Tort Subcommittee, the CAS Committee on Reserves, and the CAS Examination Committee. She also served on the AICPA task force on mass tort liabilities.
  • Raji served as the chairperson of the Actuarial Standards Board (ASB) Subcommittee on Reserving which under her leadership produced Actuarial Standard of Practice 43 – Property/casualty unpaid claim estimates and a revised edition of Actuarial Standard of Practice 36 – Statements of actuarial opinion regarding property/casualty loss and loss adjustment expense reserves.
  • Work at Milliman

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