Milliman has announced that the firm is opening a new office in Tel Aviv, expanding its operations in the Middle East. The office will offer the full gamut of insurance and actuarial consulting services. Benny Gabbay, a leading figure in the Israeli insurance industry, and Daniel Sharon, until recently chief actuary of Phoenix Insurance Ltd., a leading Israeli insurer, will oversee the new office in Israel. Each brings a deep knowledge of the Israeli insurance market and over 20 years of industry experience to the firm.
Steve White, Milliman’s president and CEO, says, “Milliman continues to expand into new regions amid increasing demand for the firm’s services across the Mideast and the world. Israel is recognized as a leading force in insurance innovation and we believe Milliman’s creative culture is well-suited to the Israeli environment.”
Nick Dumbreck, a principal with Milliman in London, says: “Israel has a growing insurance market which faces a number of challenges. The Milliman Israel office will bring independent consulting together with our global quality standards to help clients to meet these challenges.”
Benny Gabbay says, “Developments in the insurance and actuarial industry, particularly in areas of regulation (IFRS 17, Solvency II) and insurtech, represent the ideal timing for Milliman’s expansion to Israel. We have an excellent team and I am confident we will make a valuable contribution both to the Israeli insurance industry as well as to the global Milliman enterprise.”
Daniel Sharon says, “We are thrilled about opening the Israeli Milliman office. We have received a warm welcome from the industry and it’s now up to us to live up to the Milliman brand. I’m particularly excited about delivering exceptional service, which Milliman is famous for. Not just answering the question at hand—but also raising and addressing the questions that haven’t been asked.”