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Philip Jackson, MMath, FIA, FIAI

Principal and Consulting Actuary, Life Insurance
Mumbai, IN

Tel: +91 22 67848413

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Professional Designations

  • Fellow of the Institute of Actuaries, UK (2012)
  • Fellow of the Institute of Actuaries of India (2013)


  • First class Master of Mathematics degree from the University of Warwick (United Kingdom)

Current Responsibility

Philip is a consultant in our life insurance practice, based in Mumbai. He supports our projects in India and the Asia-Pacific region. Philip is one of the key members of Milliman Asia IFRS 17 working group, working primarily on with-profits products and the variable fee approach.


Philip’s experience in Asia covers the entire insurance value chain. Originally with a consumer focus, he worked in both retail product design and later as head of group pricing for Birla Sun Life Insurance (India). Now at Milliman, Philip works extensively with shareholders in the area of mergers and acquisitions.

Whilst consulting in the UK and Asia, Philip has worked in reserving, actuarial modelling and financial reporting. Headline project include:

  • Preparation of an embedded value disclosure as part of an Initial Public Offering
  • Conducting buy-side due diligence and building financial projections during M&As
  • IFRS 17 actuarial impact assessment
  • Building/reviewing appraisal valuations of life insurance companies using both market consistent and traditional techniques
  • Market entry reports and investor education
  • Valuation of bancassurance deals

Philip has been a speaker at a number of forums and conferences, across a wide range of topics, including enterprise risk management, product strategy, actuarial modelling and insurance sector investment. He also takes an active role in research, working on studies of the modelling challenges posed by IFRS 17, economic scenario generators, participating (or ‘with-profits’) business in Asia, and Indian regulatory developments.

Prior to Milliman, Philip worked in the products team of Birla Sun Life Insurance (India). On the retail side, he specialised in participating product design and the management of the with-profits fund. Later, he took over as head of group products and pricing. He was responsible for both savings and protection schemes, including the ongoing pricing and risk management of the business.

Before moving to India, Philip was based in London with the Towers Watson (now Willis Towers Watson) risk consulting practice. He worked on a number financial reporting and statutory valuation projects, including MCEV, Solvency II, US GAAP and UK GAAP.

  • Work at Milliman

    • “I was offered a chance to come in, shake things up, create something."
    Work at Milliman