Our People

Currently, Saket is the Appointed Actuary for The Oriental Insurance Company Limited, India (a Government of India owned entity). Oriental has more than 100 products and it provides insurance cover in, virtually, all lines of businesses. It has 13,000+ employees, around 40,000 agents and 1,000+ offices. As an Appointed Actuary, his role involves, periodic estimation of reserves, periodic regulatory filing, preparation of financial condition reports, analysis of investment portfolios and analysis of reinsurance treaties, product development and product pricing.

Prior to Oriental Insurance, he was the Appointed Actuary for the Tata AIG General Insurance Company Limited, India for seven years. His work involved periodic regulatory filing, estimation of reserves, analyzing investment portfolios, reinsurance treaties, asset-liability management and experience analysis.

Saket also serves as a Non-Executive Director/Appointed Actuary/Statutory Actuary for few insurance companies in Africa and Bermuda.

He was appointed twice by the Insurance Regulatory and Development Authority of India (IRDAI) for, estimation of the Motor Third Party Premium for FY 2017-18 & FY 2018-19, one of the largest general insurance assignments in the country. The project involved analysis of the past claims data of various categories of vehicles, estimation of the premium rates for different categories of vehicles using actuarial techniques & consulting IRDA in the process of data collection and collation and current market trends.

Saket also peer reviews actuarial liabilities of many general insurance companies in India. He is on the Panel of Actuaries appointed by the IRDAI for general insurance. Saket is consulting actuary to many general insurance companies in Nepal to certify the adequacy of the reserves created.

Prior to TransValue, Saket was the Practice Leader of RFM (actuarial arm) at Hewitt Associates India Pvt. Ltd. (now, Aon Consulting). His work included certifying actuarial liabilities, benefit consulting, designing long term incentive plans & providing actuarial advisory in M&A situations. He was the scheme actuary for Steel Authority of India Limited (SAIL), Nuclear Power Corporation of India Limited (NPCIL), Andhra Pradesh Transmission Corporation (APTRANSCO) etc.

Prior to Hewitt Associates, Saket was Vice President with HSBC wherein he acted as Chief Actuary for HSBC European subsidiaries like HSBC Life Malta and HSBC Life Europe (based out of Ireland). In that capacity, he was responsible for product design, reserve calculations, EV calculations, ALM, solvency monitoring, asset share calculations, bonus recommendations, preparation of Financial Capital Report (FCR) & regulatory reporting.

Prior to HSBC, Saket was heading Actuarial Finance & Investment teams of Paternoster UK wherein he was responsible for reserving as per UK regulations, Individual Capital Assessment (ICA), Asset-Liability Management (ALM), keeping track of solvency & regulatory filings.

Saket’s academic qualifications include B.Tech (Mechanical), MBE (Finance & Econometrics) and Fellowship of Institute & Faculty of Actuaries, London (IFoA) & of Institute of Actuaries of India (IAI). He is a certified authority and a fully regulated member of IAI. He is also an ex-member of Executive Council of Institute of Actuaries of India (IAI) and a member of Social Sector Committee of International Actuarial Association (IAA) besides members of various committees and advisory groups of IAI. In all, he carries 26+ years of experience in the actuarial industry.