An actuary can evaluate the current financial implications of future contingent events, and this enables us to consider actuarial approaches outside the financial industry, as in the nuclear waste sector. In Belgium, Milliman assisted the governmental institute NIRAS, which is responsible for the collection of highly radioactive waste from nuclear power plants. Milliman applied existing life insurance software to project planned cash flows and their security margins and performed market-consistent, risk-neutral valuations as well as real-world projections.
This article was published in the April 2016 issue of The European Actuary.