Milliman, a premier global consulting and actuarial firm, has announced that it is expanding to Istanbul amidst growing demand for Milliman's consulting services in the region.
The Istanbul office will specialise in actuarial and strategic consultancy services for non-life, life and private pension, health, and employee benefits.
Mr Halil Kolbasi, an experienced actuary who has worked both in the Turkish Treasury and with Turkish life and casualty insurers, will head the new office.
Mr Ed Morgan, Milliman's managing director for Italy and Central and Eastern Europe, said, "Turkey is an important, fast-growing, and dynamic economy, and as demand for Milliman's services in the region expands, we see it as critical to have a strong local team in the market."
Mr Kolbasi said, "As an actuary in the Turkish market for over 20 years, I've been observing that there is a need for dedicated, internationally-reputed actuarial consultancy services in the region. With the implementation of standards like Solvency II and IFRS 17, and new technologies in insurance such as data science, InsurTech, artificial intelligence, and machine-learning, high quality expertise from a global leader like Milliman is becoming more and more important. As part of Milliman, I'm looking forward to supporting insurance companies in their existing business and innovative transformations."
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.