Ricardas Zitikis

With profound sorrow, we share the passing of Professor Ri​cardas Zitikis on April 9, 2025. He was a brilliant scholar, trusted colleague, and dear friend​.

R​icardas was born on ​July 13, 19​62, in ​L​ithuania, to ​E​d​vardas Zitikis and ​I​rena Zitikiene. Ricardas was loyal and genuine to the core, living a life defined by hard work, dedication, and a​ deep passion for books and mathematics.

He was awarded his PhD in 1988 by Vilnius University in Lithuania and moved to Canada in 1994 on a prestigious NSERC Canada International Postdoctoral Research Fellowship to pursue his research at Carleton University in Ottawa. He dedicated his life to his career, leaving an immense impact in the fields of quantitative risk management and actuarial science as a researcher, industry pioneer, and teacher. His intellect, humility, and unwavering belief in the power of science to serve society inspired everyone who had a privilege of working with him.

In addition to being a Professor of Statistical and Actuarial Sciences at Western University, Ricardas was also a board member and co-founder of the RISC Foundation, a Canadian non-profit that promotes research and education in risk management for the benefit of Canadians. He also served as a principal scholar on RISC’s New Order of Risk Management research program, funded by the Government of Canada.

His most highly cited research spans multiple disciplines, including reliability engineering, actuarial science, banking and finance, and management science. Ricardas has over 4,500 citations and has authored more than 180 peer-reviewed publications. His students have gone on to hold a variety of academic and industry positions, including professorial roles, senior positions in traditional insurance and banking, as well as modern roles in InsurTech, FinTech, machine learning, and artificial intelligence.

Although ​​we mourn his passing deeply, we know how fortunate we were to have had this ​​brilliant man in our lives for ​62 years. He shaped ​the world with his ​humour, wisdom, and unwavering ​loyalty. Ricardas leaves a legacy that will guide us for years to come.

He is survived by three daughters: Dovile, Sigute, and Gabriele.

Cremation has taken place.

In memory of Ricardas, those wishing to make a donation are asked to consider donating to:

The Ricardas Zitikis International Research Prize in Quantitative Risk Management.

www.zeffy.com/donation-form/honour-professor-riardas-zitikis-support-the-next-generation-of-risk-scientists

Together, we can ensure that Professor Zitikis’ passion for research, mentorship, and interdisciplinary collaboration lives on.