Chihong An
ASA
Principal and Managing Director
Seoul, KR
Chi-Hong joined the Chicago office of Milliman in July 2000 as part of the firm’s expansion plan of its Asian operations. He moved to Korea in April 2002 to lead the practice of Milliman Korea.
Experience
Chi-Hong has extensive experience in the financial projections of life insurance companies, such as dynamic solvency testing analyses, profitability studies, asset-liability management, strategic capital management, and embedded value projections. His product development experience includes index-linked universal life (VUL/UL) and several versions of private label products.
His experience in Korea includes:
- mergers and acquisitions assignments for life companies
- mergers and acquisitions assignments for non-life companies
- product development projects
- assistance to major banks for bancassurance strategies
- assistance for alternative distribution channel strategies
- a major industry study for insurance industry “best practice”
- MG-ALFA® installation projects
Professional Designations
- Associate, Society of Actuaries
Education
- MS, Mathematics, University of Waterloo
- BA, Business Administration, Yonsei University
Publications
Read their latest work
Article
アジアにおけるエンベディッド・バリュー：2025年
30 July 2026 - by Heerak Basu, Clement Bonnet, Shamit Gupta, Richard Holloway, Farzana Ismail, Sherry Du, Chihong An, Wen Yee Lee, Takanori Hoshino, Philip Jackson
アジアの生命保険会社では、2025年のエンベディッド・バリューが平均8％増加し、新契約価値は18％上昇しました。
Article
2025 embedded value results: Asia
30 July 2026 - by Heerak Basu, Clement Bonnet, Shamit Gupta, Richard Holloway, Farzana Ismail, Sherry Du, Chihong An, Wen Yee Lee, Takanori Hoshino, Philip Jackson
For Asia's life insurers, embedded value increased by an average of 8% in 2025, while the value of new business rose 18%.
Article
Annuity market update, 1st quarter 2026
24 July 2026 - by David Wang, Aatman Dattani, Ram Kelkar, Tim E. Hill, Teresa McNeela, Blake Graves, Neil Dissanayake, Mike Claffey, Hiroki Koizumi, Sherry Du, Chihong An, Erica Chan, Collin Davidson, Ricardo Trachtman, Robert Eaton
Our 1Q update on the variable annuity market includes U.S. data and trends, international market statistics, and a feature on long-term care riders.
Article
AIに精通した保険契約者の時代：生命保険業界はAIを活用した購買判断にどう備えるべきか
21 July 2026 - by Chihong An, Shang Xu
消費者が人工知能（AI）に購買判断の支援を求める傾向を強める中、生命保険会社にとって今後想定される機会とリスクについて考察します。
Article
Embracing a future of AI-fluent policyholders: How the life insurance industry can prepare for AI-enabled purchasing decisions
21 July 2026 - by Chihong An, Shang Xu
As consumers increasingly turn to artificial intelligence for help with buying decisions, we highlight some potential opportunities and risks ahead for life insurers.
Article
Asset and liability management survey 2025: Asia
08 December 2025 - by Julian Man, Clement Bonnet, Alex Bryant, Takanori Hoshino, Hiroki Koizumi, Chihong An, Sung Hoon Kim, Linda Jin, Jaden Chiu, Michelle Lai, Lucy Ouyang, Florin Ginghina
Insurers in Asia are taking a more proactive approach to ALM, according to our 2025 survey of companies in the region.
Article
資産・負債管理に関する調査: 2025年アジア
08 December 2025 - by Julian Man, Clement Bonnet, Alex Bryant, Takanori Hoshino, Hiroki Koizumi, Chihong An, Sung Hoon Kim, Linda Jin, Jaden Chiu, Michelle Lai, Lucy Ouyang, Florin Ginghina
ミリマンが2025年にアジアの保険会社を対象に調査した結果から、同地域の保険会社は、一層積極的にALM（資産・負債管理）を実施していることが明らかとなりました。
Article
2024 embedded value results: Asia
25 July 2025 - by Heerak Basu, Clement Bonnet, Shamit Gupta, Richard Holloway, Farzana Ismail, Scott Chow, Chihong An, Wen Yee Lee, Takanori Hoshino, Philip Jackson
Embedded value rose 5% to 20% in several markets in Asia in 2024, while bond yields showed a mixed picture, according to our latest report on the region.
Article
アジアにおけるエンベディッドバリュー結果：2024年
25 July 2025 - by Heerak Basu, Clement Bonnet, Shamit Gupta, Richard Holloway, Farzana Ismail, Scott Chow, Chihong An, Wen Yee Lee, Takanori Hoshino, Philip Jackson
ミリマンの最新の報告によると、2024年のエンベディッドバリュー（EV）は複数の市場で5％から20％上昇した一方で、債券利回りにはばらつきが見られました。
Article
2023 embedded value results: Asia
19 July 2024 - by Heerak Basu, Clement Bonnet, Shamit Gupta, Richard Holloway, Farzana Ismail, Scott Chow, Chihong An, Wen Yee Lee, Stephen H. Conwill, Philip Jackson
Insurers in Asia reported a general increase in embedded value and value of new business, reflecting the rebound of many economies.