Milliman & Robertson and 22 Partner Firms Launch Milliman Global, a New International Client Service Organization With a 30-Country Presence.

Health/Medical Writers

SEATTLE--(BW HealthWire)--May 17, 2001

Milliman & Robertson Renames Itself Milliman USA in Line With

Branding of Milliman Global and M&R's International

Ventures: Milliman Japan, Milliman Asia, Milliman

Australia, Milliman Bermuda, and Milliman UK;

Milliman Opens Milliman UK Ltd., a Wholly-Owned,

Full-Service London Office That Is Focused on Financial Services 

and Includes the Insurance Practice of Hymans Robertson

Milliman & Robertson and an international group of 22 actuarial and consulting firms announced here today the formation of Milliman Global, a worldwide platform for serving the insurance, employee benefits and healthcare industries.

At the same time, M&R announced that it is renaming itself Milliman USA and that it has opened a full-service London office - Milliman UK Ltd. - that is focused on financial services and includes the insurance practice of London-based Hymans Robertson.

"Our starting point was a desire to put together the strongest possible organization to serve our insurance and employee benefits clients in all of the major global market centers," explained Robert L. Collett, President and CEO of Milliman USA and Chairman of Milliman Global. "Milliman Global represents a combination of firms in which Milliman USA has an ownership interest - Milliman Japan, Milliman Asia, Milliman Australia, Milliman Bermuda and Milliman UK - and a group of highly respected independent consulting organizations which have both a strong presence and top-tier service capabilities in their own markets.

"An important part of the equation was establishing our own United Kingdom presence, which we have done with the formation of Milliman UK," Mr. Collett continued. "In doing so we have formed an association with Hymans Robertson, an 80-year-old firm that serves both employee benefits and insurance clients. While the employee benefits practice will continue to operate under the Hymans Robertson banner, the insurance group will become part of Milliman UK, complementing the capabilities of Milliman USA's internationally known insurance group."

"Changing our name to Milliman USA was, of course, a big decision for all of us at Milliman & Robertson," commented Bradley M. Smith, Chairman of Milliman USA. "We have more than 50 years of history and reputation linked to that name, but the change gives us a consistent brand that reaches across all the geographic markets we serve. Through Milliman Global, our clients will encounter the Milliman name in every important market worldwide - a name that is emblematic of the breadth and quality of services we and our partner firms in Milliman Global provide."

Mike Arnold, Senior Partner of Hymans Robertson said: "The separation of our insurance practice from employee benefits and investment consulting is a carefully considered response to the specific needs of each part of our business. It reflects our continued commitment to growth and provides a unique framework to enable us to focus on our clients' needs. Our membership in Milliman Global still enables us to maintain the strong ties which have bound our insurance and employee benefits partners together for the last 80 years."

The insurance business of Hymans Robertson, under Mr. Arnold, will become part of Milliman UK, and its five insurance partners will assume leadership roles in Milliman UK. Milliman UK will initially have a staff of 30 and be located at Finsbury Tower, 103-105 Bunhill Row, London EC1Y 8LZ [phone: [phone]]. It is anticipated that Milliman UK will grow substantially backed by the brand name and financial strength of Milliman Global.

The 220-person Hymans Robertson employee benefits team - a leading independent U.K. benefits consulting group - has accepted an invitation to join Milliman Global. Hymans Robertson offers a range of actuarial, investment, administration and consultancy services. It is the leading adviser to U.K. local government schemes as well as having a client base which includes major private sector companies. The quality of its professional advice and services has been recognized in annual UK pensions industry awards.

Milliman Global has 22 member firms and 3,000 employees in more than 100 offices in 30 countries. For further information, visit www.millimanglobal.com.

Milliman USA, Inc., headquartered in Seattle, serves the full spectrum of business, financial, government and union organizations. Founded in 1947 as Milliman & Robertson, it has 28 offices in the United States as well as offices in London, Bermuda, Hong Kong, Melbourne and Tokyo. It is a founding member of Milliman Global, an international service organization serving insurance, employee benefits and healthcare clients worldwide. Milliman USA employs approximately 1,750 people, including a professional staff of over 700 qualified consultants and actuaries. The firm has consulting practices in property and casualty insurance, pensions, employee benefits, healthcare, life insurance and risk management. For further information, visit www.milliman.com.