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Shamit Gupta, BSC, FIA, FIAI, CERA

Consulting Actuary, Life Insurance (India)
Gurgaon, IN

Tel: +91 124 4641507

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Professional Designations

  • Fellow of the Institute of Actuaries, UK
  • Fellow of the Institute of Actuaries of India
  • Chartered Enterprise Risk Actuary


  • BS in Actuarial Sciences from the University of Texas, USA

Current Responsibility

Shamit is a consulting actuary in Milliman’s life insurance consulting practice in India and is based in New Delhi. He joined the firm in 2010.


Shamit has more than 11 years of life insurance consulting experience, serving clients across the globe, especially in India and the Asia Pacific region.

He has worked on a large number of embedded/appraisal valuations, especially in the context of M&As and IPOs, in India and the Asia Pacific region Some recent assignments in India include:

  • Supporting ICICI Prudential in its IPO– the first insurance IPO in India
  • Review of the embedded values developed by various companies in India and Sri Lanka, including the certification of the public disclosures made by three insurance companies in India
  • Advising Temasek in its purchase of a stake in SBI Life
  • Advising Mitsui Sumitomo’s in its purchase of New York Life’s stake in Max Life
  • Advising Pru US in DHFL’s purchase of DLF’s stake in DHFL Pramerica

He has authored articles on a variety of actuarial subjects and regularly contributes to research reports released by Milliman.

Shamit also provides consulting support to clients on a wide range of projects including:

  • Peer review of statutory valuations by appointed actuaries
  • Product development/pricing
  • Model build/review (including on Prophet and MG ALFA)
  • Strategy development, benchmarking, and operations review
  • Market entry, business planning support
  • Training

Shamit was involved in setting up and now leads Milliman’s outsourcing practice based in New Delhi.

Prior to Milliman, Shamit worked with Towers Watson for more than four years in its life insurance consulting practice in India where he provided consulting support to clients based in India, the Asia Pacific region and across the globe. Shamit has also interned at Max Life.

  • Work at Milliman

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