Investors in insurance and reinsurance companies rely on Milliman consultants for their expertise and impartial assessments in P&C insurance merger and acquisition transactions.

As experienced technical underwriters, claims adjusters, ceded reinsurance experts and actuaries—and as former managers and executives with responsibility for bottom-line results—our team of experts relates to the needs of its clients. We tailor our services to each client and situation, coordinate our review among disciplines, and provide continuous feedback to the client.

Our engagements often take the form of:

• due diligence to assist buyers in evaluating target companies
• due diligence to help prepare a company for sale
• assistance in implementing post-transaction changes to assure deal success

In particular, we can help to evaluate a target company’s performance in:

• business strategy
• market and environmental assessment
• marketing and product distribution
• underwriting, risk selection, and product design
• pricing of individual risks and the overall book of business
• claims administration, evaluation, and reserving
• reinsurance program structure, placement, contracts, and recoverables
• historical and prospective profitability
• adequacy of loss and loss expense reserves

Each transaction is unique: it may be financial or strategic, single line or multiline, single state or worldwide.

In a recent project involving the privatization of a state-owned insurance company, Milliman evaluated the underwriting operations, claims handling, reinsurance strategy, and reserve adequacy to assess the profitability of the business segments while the investment bankers evaluated financing alternatives for the target entity. Our combined efforts contributed to the success of the project.

Equally important to the client is our independence. Our objective evaluation of target companies saves clients from financial losses and opportunity costs in deals that are not consummated.