Printer Friendly
The Free Library
22,725,466 articles and books

World's largest independent actuarial and consulting firms , Milliman Inc., registers office at the DIFC to serve Middle East, Africa and South Asia.



Summary: Milliman Inc., one of the world's leading consulting and actuarial ac·tu·ar·y  
n. pl. ac·tu·ar·ies
A statistician who computes insurance risks and premiums.



[Latin
 firms, announced that it has registered an office at the Dubai International Financial Centre The Dubai International Financial Centre (DIFC) is a near-shore financial hub for the MENA containing a capital market designated as a financial free zone in Dubai. It is established to create an environment for growth, progress and economic development in the UAE and the wider  (DIFC DIFC Dubai International Financial Centre ) to serve the Middle East, Africa and South Asia This article is about the geopolitical region in Asia. For geophysical treatments, see Indian subcontinent.
South Asia, also known as Southern Asia
 region.

The American-based firm offers a broad range of actuarial services. It brings its expertise with the aim to assist regional financial institutions and insurance companies in providing innovative products that simultaneously manage both investment and longevity risk.

Milliman Inc., one of the world's leading consulting and actuarial firms, announced that it has registered an office at the Dubai International Financial Centre (DIFC) to serve the Middle East, Africa and South Asia region.

The American-based firm offers a broad range of actuarial services. It brings its expertise with the aim to assist regional financial institutions and insurance companies in providing innovative products that simultaneously manage both investment and longevity risk.

HE Dr. Omar Bin Sulaiman Omar Bin Sulayman (full name: Omar Mohammed Ahamad Bin Sulayman) is the Governor of the Dubai International Financial Centre (DIFC) in Dubai. He has a doctorate in leadership from the United States. , Governor of the DIFC, welcomed Milliman Inc to the DIFC and the region. "Milliman joins a long list of leading global institutions that have made the DIFC their home since we opened and we welcome them and offer all support to ensure their success in doing business in the region.

"Africa, Middle East, the Gulf and the Subcontinent sub·con·ti·nent  
n.
1. A large landmass, such as India, that is part of a continent but is considered either geographically or politically as an independent entity.

2.
 region is bubbling with energy and vibrancy despite the ongoing global crisis and is poised to come out of it sooner and in better shape. This is evident in the shift of global commerce towards the East. It is a good time to focus on this region and we are sure that with the global expertise that Milliman possesses, it will do excellently and add value to the region," Dr. Omar added.

Debo Ajayi, Managing Consultant and Director of Milliman in Dubai said: "Milliman's wide range of talents and global experience are ideally suited to meeting client needs in the Middle East, Africa and South Asia. We will respond to the growing demand for customised solutions in the insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
 areas."

"Financial institutions have for years been under stress because of the twin threats of volatile capital markets and uncertain longevity trends, and the recent global financial crisis has compounded the situation. Many firms are now taking a new approach to risk management by offering retirement savings products with built-in guarantees. The global expertise that Milliman has developed in guaranteed products and the sophisticated risk management systems and processes needed to manage them will become increasingly relevant as organisations in the Middle East look to enhance their retirement savings products," he further said.

Milliman hosted a 1-day seminar on investment guarantees on 26 May in Dubai. The event, titled 'Investment Guarantees: Managing Risk in Challenging Markets', looked at the current state of the industry, examined some of the lessons learned in the wake of the recent financial crisis, and discussed future trends. The seminar compared and contrasted financial risk management practices in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Asia, and Europe, and discussed the potential to apply these techniques in the Middle East. It also included an in-depth discussion of the global financial situation, an overview of promising risk management strategies, and the presentation of a case study highlighting the use of a capital guarantee, hedging, and a best-practices process to maximise portfolio performance.

Speakers included Ken Mungan and Ghalid Bagus of Milliman's Financial Risk Management practice from the Chicago office. For more information, please call +971 4 3289828 Or email: dubai@milliman.com

About DIFCThe Dubai International Financial Centre (DIFC) is an onshore on·shore  
adj.
1. Moving or directed toward the shore: an onshore wind.

2. Located on the shore: an onshore beacon; an onshore patrol.

adv.
 hub for global finance. It bridges the time gap between the financial centres of Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov.  and London and services a region with the largest untapped emerging market for financial services. In just four years, over 750 firms have registered at DIFC. They operate in an open environment complemented with world-class regulations and standards. DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly un·com·pro·mis·ing  
adj.
Unwilling to grant concessions or negotiate; inflexible: took an uncompromising stance during the peace talks.
 high standards.

About MillimanMilliman is among the world's largest independent actuarial and consulting firms Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee
consulting company

business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a
. Founded in Seattle in 1947 as Milliman & Robertson, the company currently has 49 offices in key locations worldwide. Milliman employs more than 2,100 people, with a professional staff of more than 1,100 qualified consultants and actuaries, including specialists ranging from clinicians to economists. The firm has consulting practices in healthcare, employee benefits, property and casualty insurance, life insurance, and financial services. Milliman serves the full spectrum of business, financial, government, union, education, and nonprofit organizations Nonprofit Organization

An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well.

Notes:
Examples of non-profit organizations are charities, hospitals and schools.
. For further information, visit www.milliman.com.

2009 Al Bawaba (www.albawaba.com)

2009 Al Bawaba (Albawaba.com)

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2009 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Albawaba.com
Date:May 31, 2009
Words:792
Previous Article:flydubai Confirms Launch Date, Picks Amman as one of its First Destinations.
Next Article:Six-month-old is grand winner of AED 1 million at 'Win Millions' raffle at Festival@The Dubai Mall.
Topics:



Related Articles
Claims processing.
DIFC Summit Focuses on Challenges and Opportunities for Family Businesses as They Emerge from the Current Market Turmoil.
Nomura receives licence to provide banking and capital markets services from DIFC.
VTB Capital Obtains Licence to Establish a Branch in DIFC.
VTB Capital to Establish Branch at DIFC.
Investit selects DIFC as the base for its first MENA office.
Veris Delta International Limited opens flagship office in DIFC.
Veris Delta International Limited opens flagship office in Dubai International Financial Centre.
Veris Delta opens office in Dubai.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters