Ian Humphries

At Milliman, Ian has been involved in a wide variety of projects, including M&As, Part VII transfers, Section 166 assignments, statutory valuations, regulatory reporting, and various enterprise risk management assignments.

Ian specialises in life insurance transaction assignments. He has advised on several buy-side and sell-side M&A projects, supporting insurers, private equity companies, and asset managers. During these projects he has conducted detailed due diligence reviews and dividend projection modelling under various regulatory bases, including Solvency II, GAAP, and IFRS. Ian leads Milliman's annual life and health M&A paper.

Ian has also been heavily involved in several recent Part VII and business restructuring projects, providing lead support to the Independent Experts in a number of areas. These assignments have involved a wide range of with-profits, unit-linked, and non-profit business.

Ian’s statutory valuation experience includes numerous quarterly valuations for clients under the Solvency I and Solvency II regimes. In respect of the Solvency II Pillar 1 requirements, Ian has:

• Calculated the Technical Provisions and Solvency Capital Requirements for several insurers, which has included the use of stochastic modelling and aggregation techniques
• Provided support to chief actuaries by reproducing best estimate liability figures and reviewing risk margin methodologies, SCR calculations and approval documentation for matching adjustment/transitional measure applications
• Set insurance product pricing bases for a Solvency II internal model calibration by way of a historical experience analysis

Ian has been part of the core team for several Section 166 assignments, which have involved the review of the risk management frameworks, risk management functions, and corporate governance structures to ensure compliance with the requirements of Solvency II Pillar 2 and industry best practice.

Ian’s risk management experience also includes:

• The review of Solvency II Pillar 2 ORSA documentation and calculations
• The design and production of various risk policies for a large public corporation
• The implementation of a risk management framework for a large public corporation
• Several operational risk projects, helping clients to identify, understand, and model their key risk drivers