Barrie & Hibbert Collaborate with Milliman
Online, February 16, 2011 (Newswire.com) - Barrie & Hibbert, the award winning modeling provider, and Milliman, a premier consulting and actuarial firm, today announced their collaboration to provide a broader Asset and Liability Modeling solution.
Barrie & Hibbert's economic scenarios can now be loaded directly from the Barrie & Hibbert iESG platform into Milliman's MG-ALFA Version 7.2. The solution will benefit companies of all sizes that wish to take a robust approach to the calculation and management of economic capital, and the associated risk exposures within a consistent, integrated enterprise risk management (ERM) and scenario framework spanning both assets and liabilities.
Andy Frepp, Chief Executive at Barrie & Hibbert, says: "Many insurers already have strong processes, using our scenario generation models, for economic and regulatory capital valuation. The ability to load our scenarios directly to MG-ALFA will mean that insurers get a best of breed market leading solution on which to build their comprehensive ERM frameworks."
Van Beach, MG-ALFA Product Manager at Milliman, says: "We are excited to work with Barrie & Hibbert on this new economic scenario integration option. Insurers can seamlessly leverage Barrie & Hibbert's expertise in economic scenario generation as part of MG-ALFA's stochastic ALM modeling platform to achieve an end-to-end production modeling solution".
-ENDS-
For further information, contact:
Sharon McLaughlin / Lisa McEwan
McLaughlin Gibson Communications Ltd
Tel: +44 (0) 141 440 6797
Email: sharon@mgcomms.com / lisa@mgcomms.com
Notes for editors
About Barrie & Hibbert
Founded in 1995, Barrie & Hibbert are leaders in modelling financial market risk, providing stochastic models, economic scenarios and risk management products to insurance and financial services groups around the world. Currently there are offices in Edinburgh, London, New York and Hong Kong. Globally over $10 trillion of insurance and pension assets and liabilities are now managed with the support of our products and services. For further information visit: www.barrhibb.com.
About Milliman
Milliman is among the world's largest independent actuarial and consulting firms. Founded in Seattle in 1947 as Milliman & Robertson, the company currently has 54 offices in key locations worldwide. Milliman employs over 2,500 people. The firm has consulting practices in healthcare, employee benefits, property & casualty insurance, life insurance and financial services. Milliman serves the full spectrum of business, financial, government, union, education and non-profit organizations. For further information, visit www.milliman.com.
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Tags: Actuary, insurance, Pensions