Mike Claffey
FSAI
Principal, Consulting Actuary
Dublin, IE
Mike Claffey is a principal with the Dublin office of Milliman, formerly Life Strategies Limited. He joined the firm in 2009 when Milliman acquired Life Strategies.
Experience
Mike’s experience includes all aspects of statutory insurance work, including head of actuarial function, financial reporting, and product development. He has worked with clients operating in a range of European countries, including the UK, Italy, France, Spain, Germany, Sweden, and Ireland.
Other experience includes:
- Currently discharging the role of Head of Actuarial Function for a range of insurance and reinsurance companies headquartered in Ireland.
- Acting as the Independent Actuary for a number of life insurance portfolio transfers in Ireland and the Isle of Man.
- Working on a range of M&A assignments, on both the buy and sell side, across a range of jurisdictions in Europe.
- Preparing authorisation submissions to the Central Bank of Ireland for a range of insurance entities. He has advised on a range of regulatory topics including pre-emptive recovery plan requirements of the CBI in Ireland.
- Conducting Skilled Person Reviews of insurance entities. Mike has worked for the Irish regulator on reserving process reviews of insurance entities in Ireland.
Previously, Mike worked for AEGON Scottish Equitable International and Prudential International based in Dublin. He started his career in 1990 in Eagle Star (part of the Zurich Group).
Professional Designations
- Fellow of the Society of Actuaries in Ireland
Education
- M.Sc (1990) in Mathematical Sciences from the National University of Galway
Affiliations
- Mike was an elected member of the Council of the Society of Actuaries in Ireland from 2017 to 2020. He was the chair of the Society’s life subcommittee for three years up to 2020. Since 2021, Mike has served as the SAI's member titular on the AAE and sits on the AAE Insurance Committee. He is also a member of the Solvency II working group.
- In 2014, Mike was granted an award for outstanding contribution to the Society based on his volunteer work relating to professionalism skills training for members.
Publications
Read their latest work
Article
Growing Your Business in a World at Risk
10 September 2024 - by Aisling Barrett, Kevin Manning, Michael Culligan, Mike Claffey, Paul Marron, John Mulvihill, Sinéad Clarke, Alan McDonagh, Eamon Comerford
Our in-person seminar, Growing Your Business in a World at Risk, explored potential sources of growth for insurance companies, and aimed to bring some insights that might help enable growth in the industry.
Article
Measuring the impact of the lockdown on Irish traffic
15 May 2020 - by Eoin O'Baoighill, Mike Claffey
Based on our analysis of road traffic data, there has been a 70% drop in vehicle volumes since this time last year.
Article
Milliman Isle of Man Breakfast Briefing 14 November 2019
12 November 2019 - by Mike Claffey, Rob Frize, Patrick Meghen
This briefing discusses Irish SFCRs in 2017 and 2018 and ORSA processes and outcomes.
Article
ORSA: The Irish experience
15 May 2018 - by Mike Claffey, Eoin King
The Isle of Man regulator is consulting with industry on introducing the ORSA as a new regulatory tool for local insurance and reinsurance companies. In May 2018 Mike Claffey and Eoin King presented to the Manx Actuarial Society on the Irish experience of the ORSA under Solvency II.
Article
Breakfast Briefing 25: Year-end 2017 - Hot topics
07 March 2018 - by Mike Claffey
Mike Claffey discusses hot topics for year-end 2017.
Article
Siena Protocol Update
07 December 2017 - by Mike Claffey, Patrick Meghen
EIOPA has published new rules, setting out how Supervisory Authorities should work together, in the latest version of what was originally referred to as the “Siena Protocol”. This briefing note discusses these updates.
Article
Ultimate Forward Rate: Revised EIOPA methodology
07 May 2017 - by Aisling Barrett, Thomas Bulpitt, Mike Claffey, Andrew Gilchrist
In April 2017, EIOPA published its final decision on the methodology for the annual calculation of the Ultimate Forward Rate for each currency. This briefing notes summarises the key features of the final methodology and the changes made to proposals set out in the Consultation Paper CP16/03 in April 2016.
Article
Ultimate Forward Rate: Revised EIOPA methodology
21 April 2017 - by Aisling Barrett, Thomas Bulpitt, Mike Claffey, Andrew Gilchrist
In April 2017, EIOPA published its final decision on the methodology for the annual calculation of the Ultimate Forward Rate for each currency. This briefing notes summarises the key features of the final methodology and the changes made to proposals set out in the Consultation Paper CP16/03 in April 2016.
Article
Breakfast Briefing 23: What did we learn over year-end 2016?
30 March 2017 - by Mike Claffey
Mike Claffey recaps some of the main themes and topics that companies faced during year-end 2016.
Article
Breakfast Briefing December 2016: Preparing for year-end 2016
13 December 2016 - by Mike Claffey, Andrew Kay
Mike Claffey, Andrew Kay and Ramona Dolan talk about preparing for year-end 2016.