In the evolving world of financial reporting standards, Milliman clients benefit from our broad knowledge of current best practices, as well as our insight on emerging issues.

We give clients practical advice and tools they can use to ensure the most accurate possible reporting. We can review a clients' existing reporting methods and suggest improvements, or create customized financial-reporting systems.

For some clients, we design tools and use them to create monthly or quarterly reports. We also serve as appointed actuaries. For others, we customize tools for their specific needs, then train insurance company actuaries to use them.

Examining reporting systems, getting better results

For one insurer, Milliman provided an exhaustive analysis of its reporting system. The conclusion? Company methods were imprecise, leading to possible overstatement. Milliman replaced the company's internal model with a more sophisticated system that yielded more accurate results.

We have consultants in local offices around the world who have financial reporting and analysis expertise. We advise on statutory, tax, U.S. GAAP (both purchase and historical) and International Financial Reporting Standards (IFRS) proposed or adopted by IASB. We analyze new accounting pronouncements and help our clients interpret and understand them.

We offer insights on new reporting concepts, including:

• the move to principles-based approaches to calculating reserves and capital
• the potential impact of the convergence of IFRS with local country GAAP

MG-ALFA®, our pricing and projection tool, gives companies the ability to look at the implications of pending changes on reserves and capital and evaluate the effects on pricing for new products.

Practical, hands-on assistance—sound, effective solutions—independent advice—strategic guidance—this is the Milliman advantage.