Milliman has received two 2020 U.S. Captive Review Awards. These awards recognize and reward providers of captive insurance products and services, who have outperformed their competitors and demonstrated the highest levels of excellence.
As an organization, Milliman received an award in the Actuarial Firm of the Year category. The award recognizes the firm that has demonstrated the highest level of service meeting clients’ needs over the past year. Milliman has received this recognition for three consecutive years.
Individually, consultant Joel Chansky received an award for Outstanding Contribution of the Year. The award is given to a captive professional that has made significant contributions to enhance the industry.
A.M. BestTV recently interviewed Milliman’s Joel Chansky during the Captive Insurance Companies Association’s International Conference. Joel discusses several regulatory challenges captives are facing.
Milliman’s Joel Chansky was inducted into the Captive Review Hall of Fame, which celebrates the most influential professionals in the captive insurance industry over the past 50 years. Joel has assisted with the formation and the ongoing actuarial needs of many captive insurers. He also reviews captive and risk retention group applications for several state insurance departments.
“This is truly a great honor. When I heard about this, I felt a number of things. First, a bit old, especially when there is a reference to the past 50 years. But second, and more importantly, both humbled and fortunate. A big thank you to the great team around me at Milliman that’s allowed me to do the things it takes to get this recognition, and a bigger thank you to my wife and kids who have always supported me throughout my career,” Joel said.
It was also a three-peat for Milliman consultant Mike Meehan, who was named to the Captive Review Power 50 list for the third consecutive year. Mike climbed up the list five spots, appearing at #34 this year. “I am honored to be included on Captive Review’s Power 50 again this year. It is truly a privilege to be included among the names of so many in the captive industry for whom I have the utmost respect, several of which I am fortunate to call my friends,” he said.
The Captive Review Power 50 recognizes the most influential captive insurance professionals around the world. Individuals are nominated and voted for by peers who identify them as the biggest “movers and shakers” in the captive insurance industry over the past 12 months and who will continue to influence the industry’s direction and progress in the future.
Tax reform in the United States is influencing the economic benefits previously enjoyed by some captive insurance owners. Two reform items specifically affect captives: the new marginal rate, which was decreased from 35% to 21%, and the change in the benchmark interest rates to be used for discounting loss reserves. In this article, Milliman’s Joel Chansky and Mike Meehan provide analyses demonstrating the effects that these new tax items have on both large and small captive insurers.
How will tax reform in the United States affect captive insurers? A.M. Best recently interviewed Milliman’s Joel Chansky on the topic during the 2018 Captive Insurance Companies Association (CICA) International Conference. He discusses several business implications that captives and other insurers must consider related to tax reform.
Milliman has received a 2015 US Captive Services Award, presented by Captive Review magazine. The awards recognize excellence and innovation in the U.S. marketplace. This article provides some coverage of the awards ceremony.
Here is an excerpt:
Milliman was able to demonstrate its leading position and experience in serving a broad captive marketplace. They have a large and strong captive practice allowing them to meet the demands of a significant client base. The Milliman submission pointed to specific examples of serving the wider captive industry in both educational and legislative activities.
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