Akur8 acquires Milliman's Arius reserving platform; Milliman takes equity stake in Akur8
Akur8, the Paris-based AI-native actuarial pricing vendor, announced on 9 September 2024 the acquisition of the Arius reserving solution from Milliman, Inc. Financial terms were not disclosed; Milliman increased its equity interest in Akur8 as part of the transaction.
The deal extends Akur8 from the rating-and-pricing layer into reserving — two adjacent actuarial workflows carriers historically bought from separate vendors. Arius, shipped first around 2014 and elevated to the cloud-hosted Arius Enterprise tier in January 2018, is the modern-rung reserving workbench US and Canadian casualty actuaries left Excel for: 40+ deterministic methods, 10+ stochastic/bootstrap models, Azure-hosted database, audit trails, Power BI. At acquisition Arius disclosed 150+ insurance and consulting clients, 1,500+ users, and 'more than one third' of Tier 1–2 US and Canadian P&C carriers, though named carrier references remain essentially absent — a reflection of Milliman's consulting-led go-to-market. The product is now marketed as Akur8 Reserving on akur8.com/reserving; the arius.milliman.com URL still serves. One week later Akur8 closed a $120M Series C led by One Peak with Partners Group and strategic participation from Guidewire Software, valuing the company at $400M — positioning the combined pricing + reserving platform as a unified actuarial surface.
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- Akur8 Expands Core Capabilities with Strategic Acquisition of Arius Reserving Solution — GlobeNewswire / Akur8
- Letter of CEO — Our acquisition of Arius — Akur8
- Akur8 acquires Arius from Milliman to enhance its actuarial capabilities — FinTech Global
- Akur8 enhances its actuarial capabilities through Arius acquisition — Reinsurance News
- Akur8 Secures $120 Million in Series C Round to Accelerate Growth of its Next Generation Actuarial Platform — GlobeNewswire