Safder Jaffer

Safder Jaffer
MD & Consulting Actuary
Middle East & Africa, Milliman


Safder is the Managing Director of the Milliman Dubai, UAE office serving the Middle East and Africa. He joined Milliman in early October 2009.


Safder works extensively in the Middle East and Africa region serving clients on product design, pricing, valuation, business planning and strategic consulting services. In particular, Safder serves as the lead actuary for a number of companies in the Kingdom of Saudi Arabia. Safder also specialises on advising and serving takaful and retakaful companies.

Before joining Milliman, Safder was a Vice President at Swiss Re where he worked for 11 years spending 8 years covering the UK market and 3 years covering the Middle East market. His roles included pricing actuary, products and experience study actuary, working on alternative reinsurance structures including financial reinsurance as well as serving as client manager and actuary for the Middle East region.

Safder was responsible for the family retakaful solutions at Swiss Re and helped to set up the Swiss Retakaful branch. He was instrumental in product design, pricing and monitoring of Swiss Re’s family retakaful pools and was the key link of Swiss Re with the shariah board.

Safder focused on key markets in the Middle East such as Saudi Arabia, Oman, Bahrain Pakistan and Turkey. He was also heavily involved in the medical business activities of Swiss Re in the Gulf, particularly in the Kingdom of Saudi Arabia.

Straight after graduating with an Actuarial Science degree at Heriot Watt University in Edinburgh, Safder joined GAN Financial Services as a Financial Advisor. While there he gained experience in direct marketing of a range of life insurance products including life, savings and pensions.


Safder writes and speaks regularly at Middle East forums covering a range of subjects from family takaful to life and health insurance industry issues in the region.

Recently, Safder headed up the project team at Milliman that produced the first ever global Family Takaful Report 2011.

Safder also has an MA degree in Economics with a thesis on Islamic Banking. His particular theme was “Monetary Policy under an Islamic Banking System”.


– Fellow, Institute of Actuaries (UK)
– Bsc in Actuarial Science, Heriot Watt University, Edinburgh (UK)
– CII Takaful Certificate