Milliman to begin ops after acquisition

Milliman, Inc. has announced that it will begin operations in Sri Lanka after an agreement to acquire Colombo-based Spark Actuarial Private Limited. The new Milliman office will support local and international clients with the firm’s full range of actuarial services. “Asia’s economic growth has led to a substantial demand for actuarial and consulting services in the region,” said Milliman CEO and president Steve White. “The establishment of a team in Sri Lanka is another step in our journey to increase the depth and breadth of our service offering in Asia.”

Richard Holloway, Milliman managing director, South East Asia & India Life, added, “We’ve been supporting the Sri Lankan market from our other office locations for several years. An office in Colombo, with a team already on the ground, will help us increase the scope and level of expertise we offer to clients in the market, while strengthening our global actuarial outsourcing capability.”

Milanthi Sarukkali, founder and chief executive officer at Spark Actuarial and Risk Consultants, joins Milliman along with the rest of her team. “I’m looking forward to our new journey with a trusted global brand like Milliman,” said Sarukkali. “I believe Milliman will provide existing clients with more holistic support while the talented team at Spark will now have access to a wider global network with more avenues for growth.”