
Anandi Shah
Consultant
London, UK
Anandi Shah is a consulting actuary within Milliman’s Property & Casualty team in London. She joined the firm in May 2021.
Experience
Anandi is a highly proficient actuary, having worked within the profession in the UK and Europe for over 10 years. She has significant experience of Lloyd’s and London Market insurance reserving and of broader elements of actuarial work.
In particular, she has been responsible for:
- Producing legal entity and US GAAP reserve estimates on quarterly and annual bases, gross and net of reinsurance for portfolios comprising property, casualty, and financial lines
- Producing appropriate reserving results and analytics to share with key stakeholders, including audit committees and the Board
- Supporting a global insurance company in improving its reserving process
- Contributing to the implementation of a new reserving system
- Assisting in the production of loss ratios and claims inflation for use in the business planning process
- Calculating liabilities for a Part VII transfer relating to Brexit
- Producing quarterly valuations of an ILS fund that writes a portfolio of collateralised reinsurance contracts
- Supporting the renewal discussions of a stop loss contract for a large Lloyd’s syndicate; and
- Supporting the drafting of a reinsurance contract for a multinational insurer intended to immunize the UK entity
- Anandi has significant project management experience, ensuring key deadlines are met while maintaining high standards. Before joining Milliman, Anandi worked in-house at AXA XL and then at AIG, with consulting experience prior to that.
Publications and Presentations
Anandi leads the publication of Milliman's annual Extreme Weather in Europe research paper. She won the Global Practice Director Vision Award in 2022.
Professional Designations
- Fellow, Institute & Faculty of Actuaries (IFoA)
Education
- BSc (Hons) Actuarial Science, Bayes Business School (2006)
Affiliations
- Anandi is involved in several committees of the IFoA, including the following:
- Member of the GI Life Long Learning Committee
- Member of the GI Research & Thought Leadership Committee
- Examiner and Counsellor for the General Insurance papers
- She is also the Chair of The Actuarial Network at City St. George's (TANC).
Publications
Read their latest work
Article
Extreme weather in Europe in 2024
22 May 2025 - by Anandi Shah, Arije Amara, Niccolò Basetti Sani Vettori, Mohamed Benkhalfa, Diana Dodu, Lucian Franzky, Ankush Hingorani, Ian Penfold, Francesco Pugassi, Antoine Rainaud, José Silveiro, Francesca Tiozzo, Menno van Wijk, Laura Witting, Victoria Zach
Why 2024 was the “Year of the Flood”—and what insurers can do now to manage climate-related financial risks.
Article
Extreme weather in Europe 2023
09 April 2024 - by Anandi Shah, Mohamed Benkhalfa, Ian Penfold, Francesco Pugassi, Menno van Wijk, Niccolò Basetti Sani Vettori, Antoine Rainaud, José Silveiro, Diana Dodu, Valerie Lampert, Laura Witting, Monika Lis, Arije Amara
Analysing the impact of droughts, floods, and other 2023 extreme weather events in Europe to help insurers manage the risks posed by climate change.
Article
How extreme heat affects insurance—and how the industry can respond
21 August 2023 - by Rich Moyer, Garrett Bradford, Anandi Shah, Rebecca Driskill
As a record-hot summer finally cools off, Milliman leaders discuss the implications of extreme heat on all types of insurers around the world.
Article
Extreme weather events in Europe for 2022 and beyond
14 March 2023 - by Tarik Aouragh, Niccolò Basetti Sani Vettori, Mohamed Benkhalfa, Christoph Krischanitz, Ian Penfold, Eugenio Portales, Antoine Rainaud, Giuseppe Semeraro, Anandi Shah, José Silveiro, Martijn van Rooijen, Menno van Wijk
Our annual report highlights the specific toll on the insurance industry, which faced a record number of claims and higher repair costs amid rising inflation.
Article
Extreme weather events in the United Kingdom - 2021
06 April 2022 - by Anandi Shah, Ian Penfold
Flooding is expected to pose a growing threat to property and business.