Executive Q&A: Stephen A. White President/CEO, Milliman

When Steve White succeeded Patrick Grannan as CEO of Milliman in September, he took charge of a global leader in the arcane world of actuarial services. He is responsible for 2,500 employees, 55 offices worldwide and more than $730 million in revenues.
Leslie Helm |   November 2012   |  FROM THE PRINT EDITION

YOUTH: I was born in Oregon but came to Seattle when I was 4. My dad was the city manager of Mountlake Terrace for over 25 years. I was the numbers guy in the family. I went to O’Dea High School, then the University of Notre Dame, where I was a walk-on on the football team. I got to play a few games. I majored in math and joined Milliman right after graduation.

ACTUARIES: The actuarial profession really interests me, with its combination of business and math. What we do is put a present value on liabilities with uncertain futures. It’s like accounting with a futures bent to it. In accounting, you’re saying where things are today; the actuary tells you what a retirement plan or a life insurance policy is going to cost in the future. If a company changes the deductible in a health plan, for example, how much is that going to cost?

CAREER: When I joined Milliman in 1985, it had maybe 1,300 employees, about half of what we have today. After a couple of years working in Idaho in-house for Boise Cascade on its pensions and other actuarial needs, I returned to Seattle and got involved in management. I became a principal in 1993 and an equity partner in 1997. I worked with union funds jointly trusteed by labor and management. I also managed pension plans in which we evaluated the liabilities but also took over the administration with a call center and website for participants.

MILLIMAN: In terms of revenue, we are among the top three or four [actuarial firms] in the country. We have four business areas. We are probably second or third in the country in property-casualty, sixth in pensions, and first in life insurance and health consulting, where we work with hospitals and clinics on the best practices to deliver care. We have some of the best claims data available on cost experience for different claim types.

CULTURE: Milliman [founded by Wendell Milliman] first opened in 1947. When they added other offices in new locations, they decided to let those offices have control over their own destiny, with a separate profit structure. Even today, each practice elects its own equity partners, who share the profits of that office. One office might be quite a bit more profitable than another and the range of income for equity partners is

    Subscribe Free     Free Insight Newsletter


sekian lama bersama by dahak (not verified)
irmanbogs by Anonymous (not verified)
kukurubukan by Anonymous (not verified)
kukurubukan by Anonymous (not verified)
Individuals use their credit by Anonymous (not verified)
health by Obat jelly gamat (not verified)
<a by Ace maxs (not verified)
okk by obat kolesterol (not verified)
obat herbal ampuh by joharkantor05 (not verified)
ada by Anonymous (not verified)
obat katarak by obat katarak (not verified)
thanks by obat herbal kolesterol (not verified)
dengan stokeer by Anonymous (not verified)
<a by Obat infeksi paru paru kronis (not verified)
bius by obat bius (not verified)
Obat Lupus by Obat Lupus (not verified)
Toko pasutri by Anonymous (not verified)
Toko pasutri by yusuf (not verified)
mancabs informasinya keren by kakaojo (not verified)
<a by cara mengecilkan perut (not verified)
tips kesehatan by healthfacts21.com (not verified)
tips kesehatan by healthfacts21.com (not verified)
Only the third most by Anonymous (not verified)
<a by Ace maxs (not verified)
tahnks by greenworld (not verified)
thanks for by greenworld (not verified)

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <p><span><em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.
  • Use to create page breaks.

More information about formatting options