Our Team

Royce Chen

Consulting Actuary

Royce has worked extensively with AXIS since 2013. As a former leader at Moody’s Analytics, Royce has worked at the forefront of AXIS design, development, and implementation. Royce has thorough understandings of the AXIS calculation engine and extensive knowledge across most AXIS liability modules. Royce also has strong expertise in IFRS 17, LDTI, and US PBR modeling, with a specialization in traditional life, universal life, and annuity products. Royce has considerable experience advising clients on model configurations, designing creative modeling solutions, and building complex valuation and projection models.

Some of his accomplishments include:

  • Developing an AXIS model from the ground up for a traditional block of business for a mid-size US insurer that met client’s reporting needs on FAS60/97, LDTI, CRVM, and required capital.
  • Advising a US client on an in-house VM-21 calculation engine build and validating all calculations on first principle.
  • Converting actuarial models from legacy systems to AXIS for traditional life, participating, disability, critical illness, universal life, and annuity products.
  • Implementing and reviewing deterministic and stochastic IFRS 17 models for universal life and segregated fund products for a Canadian insurer, validating scenarios provided by third-party ESG providers, analyzing stochastic results, and advising on modeling approaches.
  • Working with a large US insurer to construct a VM-20 PBR valuation and projection model requiring stochastic embedded block configurations for a term product.
  • Building a valuation and projection model for a large US insurer’s participating joint-life block of business with complex dividend formulas using company-specific contribution methods.
  • Working with a large global reinsurer on the due diligence for a multibillion-dollar global reinsurance transaction.
  • Leading the design and development of AXIS IFRS 17 and US GAAP LDTI functionalities for universal life and annuity products at Moody’s Analytics.
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