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Aaron C. Koch

FCAS, MAAA
Principal and Consulting Actuary
South Burlington, VT, US

Aaron Koch is a principal and consulting actuary based in Northern Virginia. He joined Milliman in 2011.

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Experience

Aaron develops innovative solutions for the rapidly growing catastrophe risk and alternative capital markets. He works with leaders in these fields—including specialist hedge funds and reinsurers—to provide independent analyses for asset valuation, post-event loss reserving, and modeling of new or unusual risks to the ILS market. Aaron is a frequent writer and speaker on alternative financing structures for catastrophe risk.

Aaron’s actuarial experience includes consulting for a diverse set of clients throughout the property and casualty insurance industry, including corporations and government entity risk pools. He frequently develops models for low-frequency, high-severity risks, e.g., property catastrophe and commercial liability risks such as product liability and medical malpractice.

Publications

Read their latest work

Article

The expected impacts of Hurricane Milton: What’s next for the Florida insurance market?

14 October 2024 - by Aaron C. Koch, David Blake
In the aftermath of the storm, we look at the expected insurance impacts of Hurricane Milton and the anticipated future responses of the (re)insurance markets in Florida.
Article

Rebuilding the California property market: Reinsurance costs and recent reforms

23 October 2023 - by Robert Zolla, Aaron C. Koch
With homeowner policy payouts rising in California due to wildfires and other disasters, we review the impacts of the state's prohibition against including reinsurance costs in rate filings.
Article

The Florida property insurance market ran aground. Can the ship be righted?

19 July 2023 - by Aaron C. Koch, David Blake
After recent hurricanes, reforms in Florida’s homeowners insurance market have laid a path toward sustainability, but the most challenging days may still await.
Article

The G7 takes on climate change: Are catastrophe bonds an answer?

16 August 2022 - by Stephen A. White, David Blake, Aaron C. Koch, Karl Goring, Karthik Tumuluru, Anastasia Radko, Rbhya Pal
The G7 takes on climate change: Are catastrophe bonds an answer?
Article

A tale of two catastrophes: Demand surge and inflation put property insurers in a bind

10 January 2022 - by Kimberly W. Guerriero, Anne C. Kallfisch, Aaron C. Koch
Insurers with higher claim severities will face additional strains from recent disasters, leading to potentially sizable impacts on reserving and property rates.
Article

ILS Will Continue To Play an Increasing Role for Captives

25 July 2019 - by Aaron C. Koch
An interview with Aaron Koch about the current state of affairs in the insurance-linked securities market and how captives are using this segment.
Article

Casualty: The next ILS frontier?

11 July 2018 - by Aaron C. Koch
Important progress has been made in establishing a precedent for casualty insurance-linked securities transactions in the last several years, but there is still significant work to do.
Article

Non-NatCat insurance-linked securities: Identifying market opportunities for diversifying perils

28 November 2017 - by Aaron C. Koch
This paper, the first in a three-part series, provides an overview of non-NatCat insurance-linked securities.
Article

Surveying the damage: The impact of Harvey, Irma, and Maria on the alternative capital market

31 October 2017 - by Aaron C. Koch
In the wake of Hurricanes Harvey, Irma, and Maria, the property and casualty insurance and reinsurance markets are positioned to step in and provide perhaps the largest series of storm-related payouts in history.
Article

Reviewing Hurricane Matthew: Wide-reaching economic impacts, but unlikely to shake the reinsurance and ILS markets

11 October 2016 - by Aaron C. Koch
It is worth considering what impacts Hurricane Matthew may have on the insurance-linked securities market and on alternative capital investors more generally.