MICROCAPITAL BRIEF: Milliman Acquires MicroInsurance Centre in Effort to Boost Services Benefiting Poor People

Milliman Inc., an international consulting and actuarial firm headquartered in the US city of Seattle, recently acquired the MicroInsurance Centre (MIC), a for-profit consulting firm based in the US state of Wisconsin that provides “product development, research, and advocacy” services relating to insurance services to poor people. The terms of the agreement have not been made public.

MIC President Michael McCord said that a “synergy arises from Milliman’s global reach and commitment to the health and financial well-being of people everywhere, coupled with the MIC’s experience in providing value to low-income clients and business cases for insurers in over 75 countries.”

MIC was established in 2000 by MicroSave, an India-based technical assistance and training provider serving the microfinance industry.

Founded in 1947, Milliman offers consulting services relating to financial services, healthcare, property, and life insurance. As of 2017, the firm has approximately 50 offices across in 20 countries.

By Aleks Marceau, Research Associate

Sources and additional information

Milliman press release:

Milliman home page:

MicroInsurance Center home page:

MicroCapital on MIC and CGAP:

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.

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