The Birth of An Independent Actuarial Consulting Firm
He wanted to return to Washington and, although there was no single insurance firm of sufficient size in the region, he saw the opportunity to act as a consultant to a number of small firms. After conferring with business associates, he became encouraged that this model could enable him to return home. Long-time Washington state insurance commissioner William A. Sullivan soon offered him a retainer to serve his department in assisting a number of small, local life insurance companies that needed actuarial help. He also went to work on behalf of the Washington State Employees Retirement System in developing a retirement plan for employees. That, combined with consulting work for Eastern companies, was enough to launch the Milliman office in Seattle, which opened at 914 Second Avenue near the end of 1947. At this time he had a wife, Dorothy, and four children.
A little over two years later, he hired Stuart A. Robertson, who had been working as an actuary for Northwestern Life Insurance Company. He joined the Milliman firm on April 1, 1950.
Read more about this topic: Wendell Milliman
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