In Memory of Jim Milholland
July 19, 2021
James B. Milholland, FSA 1978, MAAA 1979, passed away on July 6 after a brief but fierce battle against cancer. Jim was an accountant, an actuary and a partner with Ernst & Young for over 28 years, when he retired in 2006. He graduated from Davidson College and started his actuarial career with Milliman and Robertson in Milwaukee before joining Ernst & Ernst in the Denver office and then on to Atlanta. In Jim’s last years with Ernst & Young, the firm seconded him to the London office to work on the evolving IFRS regulations at the time.
Throughout his career, he was prolific in the insurance financial reporting realm, having a PGAAP purchase price allocation approach referred to as the Milholland Method named for him. (The Milholland Method was subsequently renamed to be the Actuarial Appraisal Value Method.) Even after retirement, Jim tirelessly served the actuarial profession with volunteer roles for the Society of Actuaries, the International Actuarial Association and a role as co-editor for the SOA’s IFRS Textbook.
Jim was a crafty business partner as well as an enjoyable dinner companion. He was a delight to work with and a formidable figure across the table. He was a wonderful mentor, always patient and kind. From a work perspective, he seemed larger than life, brilliant and all-knowing.
After wrapping up his volunteer role as co-editor for International Financial Reporting for Insurers, Jim assumed a leadership role for his life-long avocation at the Southeastern Antique Radio Society.
Many in the profession were lucky to know Jim for his guidance and tutelage, along with his friendship.
Jim is survived by his wife Ellen, his two sons Brandon (Lauren) and Joey and one granddaughter, Penelope.
In lieu of flowers, Jim asked that donations be made to The Actuarial Foundation. www.actuarialfoundation.org