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Rikiya Ino

FIAJ, CMA
Principal and Senior Consultant
Tokyo, JP

Rikiya Ino joined Milliman’s Tokyo office in February 2001.

He is responsible for providing financial risk management services, including pricing, hedging, and reinsurance of variable annuity minimum guarantees. He also supports many insurance companies in annuity product development and embedded value reporting.

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Experience

Ino’s actuarial experience over the past several years includes M&A, EEV/MCEV, and demutualization. He has also developed actuarial projection systems, a valuation system for variable annuity minimum guarantee, and an economic scenario generator.

He has supported almost all major variable annuity writers in Japan and several insurance companies in Korea and Taiwan in product development, risk management, and financial reporting.

Prior to joining Milliman, Ino spent sixteen years with Meiji Life Insurance, where he gained a wide range of experience in actuarial, investment, international, and corporate planning departments.

He has been a member of several committees at the Institute of Actuaries of Japan, including the International Relation Committee and the Textbook Committee.

Publications

Read their latest work

Article

Alternative asset classes: Why and what to model, and considerations for risk management

16 February 2022 - by Hervé Andrès, Alexandre Boumezoued, Grzegorz Darkiewicz, Rikiya Ino, Daren Lockwood, Fiona Ng, Russell Ward
Challenges for companies in the alternative asset space include building an internal model and accounting for regulatory treatment for capital set aside.
Article

ALM Metrics Survey 2020

06 November 2020 - by Georges Abbey, Alex Bryant, Clement Bonnet, Jessica Crowson, Grzegorz Darkiewicz, Paul Fulcher, Rikiya Ino, Ed Morgan, Freek Zandbergen, Sihong Zhu
This year’s asset liability management (ALM) Metrics Survey seeks to understand the current international practice in a variety of representative markets in terms of the approaches and the metrics used in ALM by global life insurers and discusses what might be considered best practices and how this might evolve in the future.
Article

Replicating portfolios

01 November 2009 - by Peter Boekel, Takanori Hoshino, Rikiya Ino, Craig Reynolds, Henny Verheugen, Lotte van Delft
A new technique may make complex actuarial modeling more practical.
Article

Cultivating confidence: The emerging global market for VA-style guaranteed benefits products

01 December 2008 - by Rikiya Ino, Wade Matterson, Sam Nandi, Peter H. Sun
The success of retirement-savings products such as variable annuities (VAs) with guaranteed benefits in the United States and Japan—and the ability of these products to stand up to intense market volatility, as we saw in September and October of 2008—has caught the attention of insurance companies and policyholders in the global market.
Article

Impact of recent market turbulence on hedging programs for equity-linked guarantees

20 May 2008 - by Rikiya Ino, Wade Matterson, Peter H. Sun
A survey reports the results of financial risk management techniques born out of the last period of intense market volatility in late 2001 that have weathered their first big, real-world test.
Article

Economic capital modeling: Practical considerations

14 December 2006 - by Gary Finkelstein, Takanori Hoshino, Rikiya Ino, Ed Morgan
This report endeavors to answer questions as well as to look at a few illustrative cases of how economic capital can be practically applied. The report will help decision-makers formulate an approach to economic capital that will align with their larger corporate strategies.
Article

Variable annuity market in Japan: The sun also rises

01 August 2006 - by Rikiya Ino
The variable annuity market in Japan is young, growing rapidly, and undergoing a fundamental change in regulation.