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Actuarial Firm Updates Forecasting System

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Milliman Inc. says it has come out with a version of the MG-ALFA software that can run about 20% faster than the old version.

The MG-ALFA software is actuarial projection software that can create forecasts by running simulations indicating how an insurance product or company might perform under many different conditions.

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Milliman, Seattle, says the latest edition can handle profit-solving calculations for variable annuities across stochastic scenarios.

The new edition also includes new features for modeling equity indexed annuities, Milliman says.