Jaden Chiu
Jaden Chiu is an actuarial associate in Milliman’s Life Insurance Consulting Practice in Taiwan. He joined the firm in 2024.
Experience
Jaden is an actuary with experience in ICS implementation and asset allocation strategy. During his time at Milliman, he supported a company in Taiwan in building a CFT pricing model for a participating product based on Excel and also assisted in the review of the stress and scenario testing under HKRBC for a HK insurer.
Prior to joining Milliman, Jaden was a member of the ICS team in Fubon Life, where he supported the company’s capital regime shift from RBC to the TW-ICS. Some of the key accomplishments and projects he worked on include:
- Supporting Fubon Life’s multiple proposals to the regulator in Taiwan to lobby for localization and transitional measures after the implementation of TW-ICS. Also, in providing statistical evidence that supported the reduction of Taiwan's equity market risk factor from 48% to 35%.
- Collaborating with the Taiwan Insurance Institute to generate interest rate risk-stressed scenarios for use in the upcoming QIS2024 of the TW-ICS. Also, in providing the dynamic Nelson-Siegel model needed in the scenario generation process for TII’s use.
- Participating in a project collaborating with the pricing department to develop a method to reflect the cost of ICS capital in profit testing. The method was later applied to VNB CoC projections and ICS ratio proxy models.
- Performing multiple trial calculations for the regulator to study the viability of various localization and transitional measures. Also assisting in constructing a 20-year ICS projection model with detailed financial and actuarial structures.
- Participating in annual regulatory ICS reporting and being in charge of quarterly interest rate risk monitoring.
Besides his work on ICS, Jaden also participated in the company’s ALM project, specializing in the strategic asset allocation function:
- Developing the optimal asset allocation strategy after the implementation of ICS and IFRS 17.
- Working on a consolidated model that can consider capital saving and capital charge simultaneously, assisting in more straightforward decision-making.
Some other duties included:
- Conducting monthly cash flow testing for interest rate-sensitive products.
- Developing an advanced model to accelerate the calculation process, enabling more frequent monitoring of the solvency position.
- Bachelor of Business Administration in Finance from National Taiwan University