
Asad Irshad
FSA
Principal
Dubai, AE
Asad Irshad is the managing director and principal of Milliman, KSA office. He specializes in property and casualty insurance and is currently leading the IFRS 17 implementation and digital and innovation strategy work at Milliman Dubai.
Experience
Asad has over 15 years of actuarial experience on a wide range of property and casualty projects across Europe, Asia, the Middle East, and the United States. He is a recognized speaker on telematics and digitalization in the insurance sector.
Before joining Milliman, Asad was a director within the Financial Services team at KPMG in London, where he worked with insurers and banks to provide regulatory and actuarial services. He was the lead on many Solvency II projects and started the IFRS 17 initiative.
- Supported non-life insurers and reinsurers with regulatory approvals, particularly during Solvency II implementation. This included review of business plans, internal model, standard formula, reserving, capital, pricing, and governance frameworks, etc.
- Conducted model validations for capital calculations under different regulatory regimes. This also included looking into dependencies framework, stress and scenario testing, and reverse stress testing.
- Assisted large global reinsurance firms with their CAT models.
- Led a team of specialists on providing model validations for most of the major banks in the UK on their conduct risk agenda. Conducted motor review of the market for various regulators to identify issues within the market and recommend solutions.
- Implemented machine learning and AI solutions for big data use in insurance.
- Assisted start-ups with their business plans, digital strategies, and capital raising. Provided support on design and implementation of risk management and internal governance frameworks.
- Conducted actuarial audits and independent reserve reviews for a number of large insurers and Lloyd’s syndicates writing a wide range of business. Developed auditing and reviewing algorithm designs for calculating safe driving scores by one of the leading telematics providers in the world.
- Worked with the regulators and relevant ministries of a large Middle Eastern country on designing a scalable telematics solution.
- Led IFRS 17 implementation for multiple clients in the GCC region.
Professional Designations
- Fellow of the Society of Actuaries (FSA)
Education
- Honors B.Sc. Software Engineering with Major in Mathematics and Minor in Actuarial Science, University of Toronto, Canada (2005)
Publications
Read their latest work
Article
KSA保険業界レポート:2025年上半期
27 August 2025 - by Safder Jaffer, Asad Irshad
サウジアラビアの2025年上半期保険業界レポートでは、様々な進展や規制の最新情報など、同国の市場について概説します。
Article
KSA Insurance Industry report: Final results for year-end 2023
11 May 2024 - by Safder Jaffer, Asad Irshad
Learn about the latest insurance industry trends in Milliman’s 2023 year-end update for Saudi Arabia
Article
UAE保険業界レポート:2023年速報値
01 April 2024 - by Safder Jaffer, Asad Irshad
UAEの保険収入は、堅調な新契約と高い利益により、2023年も継続して増加しました。
Article
UAE保険業界アップデート:2023年上半期
30 October 2023 - by Safder Jaffer, Asad Irshad
アラブ首長国連邦(UAE)保険業界に関する最新レポートでは、2023年上半期の市場概要、規制の最新情報、またIFRS第17号に関する情報もお伝えします。
Article
KSA保険業界レポート:2022年末最終結果
05 July 2023 - by Safder Jaffer, Asad Irshad
サウジアラビアの2022年末保険業界レポートでは、同国の様々な進展や規制の最新情報など、同国の市場について概説します。
Article
UAE:保険業界レポート:2022年末最終結果
26 April 2023 - by Safder Jaffer, Asad Irshad
パンデミックからの経済回復が進み、契約高は増え続けていますが、運用収益の減少および経費の増加により、2022年の利益は2021年に比べて減少しました。
Article
UAE保険業界レポート:2022年末速報値
02 March 2023 - by Safder Jaffer, Asad Irshad
COVID-19パンデミックからの保険業界の回復が進み、契約高は増え続けていますが、競争圧力により、2022年の利益は2021年に比べて減少しました。
Article
KSA保険業界レポート:2021年
06 June 2022 - by Safder Jaffer, Asad Irshad
本2021年のレポートでは、サウジアラビア証券取引所(Saudi Stock Exchange)Tadawulに上場する保険会社29社について報告し、COVID-19の様々な制約の影響と、パンデミックのプレッシャーが緩んだ後の経済のリバウンドについて明らかにします。
Article
Market Monitor UAE Insurance Industry Report 2020: Based on preliminary results
24 February 2021 - by Safder Jaffer, Asad Irshad
UAE Industry Report 2020: Despite COVID-19, nation’s insurance industry stays resilient and records profit increase for fourth consecutive year.
Article
Market Monitor UAE Insurance Industry Report: Financials of listed companies 2020
13 October 2020 - by Safder Jaffer, Asad Irshad
Gross written premiums showed an overall increase, showing market resilience despite the COVID-19 pandemic.