Financial Risk Management

Milliman Financial Risk Management LLC (Milliman FRM)—an SEC-registered investment adviser—is a global leader in managing financial risk.

As a subsidiary of Milliman, Inc., Milliman FRM was built on decades of actuarial work, helping institutional clients assess and manage their risk. Established in 1998, Milliman FRM also has a well-established history of its own, advising on and managing client assets for more than 20 years and through two market crises (the 2000 internet bubble and the 2008 global financial crisis).

Through its team of more than 200 trading, risk management, portfolio management, and quantitative finance and actuarial professionals, Milliman FRM:

  • Provides investment advisory, hedging, and consulting services on more than $150 billion in global assets (as of June 30, 2019)
  • Monitors clients’ risk exposures to global capital markets around the clock, from strategically located trading desks in Chicago, Sydney, and London
  • Offers customizable solutions for life insurers, asset managers, and investment product issuers across a variety of strategies, including:
    • Milliman Managed Risk Strategy™
    • Defined Outcomes
    • Managed Risk Parity
    • Gap Risk Protection
    • Dynamic Hedged Equity

To learn more about why Milliman FRM is a leading investment adviser to financial institutions, contact us at +1 855 645 5462.



The information, products, or services described or referenced herein are intended to be for informational purposes only. This material is not intended to be a recommendation, offer, solicitation, or advertisement to buy or sell any securities, securities-related product or service, or investment strategy, nor is it intended to be to be relied upon as a forecast, research, or investment advice.

The products or services described or referenced herein may not be suitable or appropriate for the recipient. Many of the products and services described or referenced herein involve significant risks, and the recipient should not make any decision or enter into any transaction unless the recipient has fully understood all such risks and has independently determined that such decisions or transactions are appropriate for the recipient. Investment involves risks. Any discussion of risks contained herein with respect to any product or service should not be considered to be a disclosure of all risks or a complete discussion of the risks involved.

The recipient should not construe any of the material contained herein as investment, hedging, trading, legal, regulatory, tax, accounting, or other advice. The recipient should not act on any information in this document without consulting its investment, hedging, trading, legal, regulatory, tax, accounting, and other advisers. Information herein has been obtained from sources we believe to be reliable, but neither Milliman Financial Risk Management LLC (“Milliman FRM”) nor its parents, subsidiaries, or affiliates warrant its completeness or accuracy. No responsibility can be accepted for errors of facts obtained from third parties.

The materials in this document represent the opinion of the authors at the time of authorship; they may change and are not representative of the views of Milliman FRM or its parents, subsidiaries, or affiliates. Milliman FRM does not certify the information, nor does it guarantee the accuracy and completeness of such information. Use of such information is voluntary and should not be relied upon unless an independent review of its accuracy and completeness has been performed. Materials may not be reproduced without the express consent of Milliman FRM. Milliman Financial Risk Management LLC is an SEC-registered investment adviser and subsidiary of Milliman, Inc.

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