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Richard Liao, ASA

Associate Actuary
Hong Kong, CN

Tel: +886 2 8780 0701, Ext.103

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Professional Designations

  • Associate of the Society of Actuaries


  • BSc of Risk Management and Insurance, National Chengchi University

Current Responsibility

Richard Liao is an associate actuary in Milliman’s Taipei office. He has more than seven years of actuarial experience in life insurance.


Richard has worked on embedded value evaluation for several companies both in Hong Kong and Taiwan. He has worked for a number of clients on annual modeling work including:

  • Delivering MG-ALFA training courses
  • China C-ross study on the model implementation
  • ALM model construction
  • New product reserve factor checking
  • Liability adequacy tests
  • Cash flow testing to project corporate financials
  • Profit margin tests
  • Dividend reports
  • RBC projections
  • IFRS 4 Phase II fair value implementation
  • Strategic asset allocation for a Taiwanese insurer, with asset size over $400 billion
  • NTD
  • Cluster modeling
  • Reserve reviews
  • Business plans

Prior to Milliman, Richard worked for two years in the ALM department of Shin Kong Life, based in Taiwan, where he led the control model and analysis of Prophet for appointed actuary reports, including cash flow testing, profit margin tests, RBC projections, and other relevant items. While attending university, he interned in the Product Risk Management department of New York Life, based in Taiwan.

  • Work at Milliman

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