Mumbai: Ageas Federal Life Insurance has appointed Vandana Baluni as its Appointed Actuary, strengthening the insurer’s actuarial and financial risk governance capabilities as it focuses on sustainable business growth.
Baluni is a Fellow Actuary (FIAI) with more than 17 years of leadership experience spanning life, health and general insurance. She brings expertise across statutory valuation, financial risk governance, asset-liability management (ALM), capital management and strategic business growth.
Prior to joining Ageas Federal Life Insurance, Baluni served as Chief Actuary and Executive Vice President at TATA AIG General Insurance. She has also held senior leadership positions at Aditya Birla Sun Life Insurance and Ernst & Young.
Throughout her career, Baluni has worked across several areas of actuarial and financial transformation, including the implementation of IFRS 17 and Risk-Based Solvency (RBS) frameworks, as well as transition strategies from Traditional Embedded Value (TEV) to Market Consistent Embedded Value (MCEV).
She has also conceptualised value management programmes aimed at improving Value of New Business (VNB) margins and Return on Embedded Value (RoEV) through in-force book management and business-mix optimisation.
Her experience further includes developing Asset-Liability Management strategies, cash-flow hedging frameworks and predictive policy-risk assessment models.
A Fellow Actuary from the Institute of Actuaries of India, Baluni holds double specialisation in Life and Health Insurance and has received multiple academic excellence awards.
At Ageas Federal Life Insurance, Baluni will be responsible for strengthening actuarial oversight and financial risk governance, while supporting the company’s long-term business strategy and sustainable growth.
Her expertise in connecting technical actuarial metrics, including VNB margins, Embedded Value and Risk-Based Solvency, with broader business objectives is expected to support the insurer’s focus on financial resilience, capital efficiency and shareholder value creation.
