Arnold A. Dicke

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Harvard Business School – Advanced Management Program
Princeton University – M.A., Mathematical Physics
Harvard College – A.B., Cum Laude, Physics


New World Actuaries   2008 - present
AADicke LLC                 2008 - present
AADicke Consulting      2007 - 2008

(New World Actuaries is a network of independent consulting actuaries.  The business of AADicke Consulting was assumed by AADicke LLC in May, 2008.)

Representative assignments:
Innovation initiative for major reinsurer (included estimate of economic capital impact of alternatives); product development for investment bank; expert in case involving tax status of an employee welfare plan.

KPMG LLP    2004 - 2006 
Senior Manager, Actuarial Services   

Swiss Re, Prudential Financial, Jefferson Pilot (now Lincoln Financial), Massachusetts Mutual, MBIA, Jackson National (Prudential UK), Reliance Standard Life (Delphi Financial), CUNA Mutual, American Equity Life
Representative assignments:
Statutory and GAAP reserve reviews, New York and other state insurance law compliance issues, economic capital and embedded value, Sarbanes-Oxley testing and readiness, reinsurance and securitization structuring and implementation, model risk analysis, expert report relative to litigation of a policyholder complaint.

Bell & Dicke LLC    2003 - 2004   

Representative assignment:
Due diligence of life settlement provider on behalf of potential investor.

ING Re    1999 – 2003  
Senior Vice President & Head of Traditional Life Reinsurance  Business  2001 - 2003
Senior Vice President and Chief Actuary  1999 – 2001

Security Life Insurance Company of Denver—Senior Vice President
1999 – 2003

Security Life of Denver International (Bermuda)—Approved Actuary
1999 – 2003 

Responsible for core functions of individual life and health reinsurance businesses of ING Re (a business unit of ING Americas), including marketing, all actuarial and financial functions, contract preparation, business operations (including administration of assumed and retroceded business, claims and client audits) and information technology.  Instituted and chaired line of business risk committee.  Oversaw internal activities supporting successful arbitration of reinsurance dispute, resulting in $3 million award to ING.


New York Life Insurance Company    1997 - 1999
Vice President & Actuary

Responsible for Financial Management Department of Stable Value Group—$22 billion in reserves; developed innovative reinsurance solutions for GIC products and persuaded New York Insurance Department to accept the arrangements.

USLIFE Corporation    1992 - 1997
Executive Vice President & Product Actuary

Responsible for the development, including pricing and risk analysis, of all individual life insurance and annuity products.   Successfully interfaced with New York Insurance Department relative to plan to reduce excess participating surplus through the sale of par term life.

Equitable Life Assurance Society    1991 - 1992
Vice President—Internal Consultant
Assisted Vice-Chairman with Numerous projects, including: 
Demutualization – Prepared and assisted in preparation of documents required by New York Insurance Department, including documentation of assets backing GIC line, ten-year plan for Form A and treatment of non-closed block participating products.
Gender Discrimination Law Suit – Acted as internal expert witness and testified in successful defense of Equitable’s gender-based rating and underwriting practices in Maryland hearing.

Tillinghast/Towers Perrin    1998 - 1991

Provident Mutual    1983 - 1988
Senior Vice President & Chief Actuary                  

Penn Mutual    1974 - 1983

Second Vice President & Individual Actuary (last of several positions)       


Society of Actuaries

FSA, 1975

Board of Governors, 1988 – 1991, 1993 –1995
        Vice President, Life Insurance, 1993 – 1995

Actuarial Principles
         Committee on Actuarial Principles, 1988 – 1993;  Chair
         Joint Casualty Actuarial Society/Society of Actuaries
         Committee on Principles, 1993 – 2008

Financial Reporting Section Council, 1986 – 1988; Chair


American Academy of Actuaries

MAAA, 1975

Board of Directors, 1995 – 1997
Vice President, Life Insurance, 1995 – 1997
Principles-Based Approach to Reserves and Risk-Based Capital
Life Reserve Work Group, 2004  – present; Chair, Methodology  Subgroup

Life Capital Work Group, 2005 – present

Reinsurance Group, 2006 – 2008; Chair, Subgroup on Other Laws, Regulations and Standards

Actuarial Standard of Practice Task Force (Principle-Based Approach), 2005-present

Risk Classification

Risk Classification Monograph Work Group, 2006 – present; Chair
Testimony regarding the use of travel destination in life insurance underwriting, on behalf of Life Products Committee before the NAIC Life Insurance and Annuities (A) Committee, 2006
Actuarial Standard of Practice #12 (Risk Classification) Task Force, 2003 – 2005
Testimony on behalf of the Academy before the Joint Committee of the Massachusetts Legislature regarding Proposal to Require Unisex Rates for Annuities, 2004
American Council for Life Insurance
Market Value Accounting Work Group, 1993 – 1995; Chair


“The Principles-Based Approach to Statutory Reserves and Risk Based Capital,” with David L. White, Jr., The Financial Reporter (67), December, 2006.

“End-User Applications in Actuarial Processes—Risks and Controls,” with P. Shane Elenbaas, The Financial Reporter (65), June, 2006;

“New Survey of the Use of Alternative Financial Metrics by U.S. Life Insurers,” The Financial Reporter (63), December 2005;

“The Economics of Risk Selection,” in Genetics and Life Insurance: Medical Underwriting and Social Policy,

            (Boston: The MIT Press, 2004);

“Life Insurance and Genetic Information,” Risk Transfer, vol. 1, no. 6, September 2003.

 “Comparison of methods for fair-valuing life insurance liabilities,” in Irwin T. Vanderhoof and Edward I. Altman, editors, The Fair Value of Life Insurance Liabilities (Boston, Dordrecht and London:  Kluver Academic Publishers, 1998);

“The Preferred Underwriting Revolution: Impact on the Life Insurance Market,” The Rosen-Huebner-McCahan Lecture, 1997 (Philadelphia: S.S. Huebner Foundation for Insurance Education and Department of Insurance and Risk Management, The Wharton School of the University of Pennsylvania, 1997);

“Comparison of Methods for Fair Valuing Life Insurance Liabilities,” in Edward I. Altman and Irwin T. Vanderhoof, editors, The Strategic Dynamics of the Insurance Industry: Asset/Liability Management Issues (New York: Irwin, 1996);

“Genetic Risk and Voluntary Insurance,” Contingencies, November-December 1996;

“Principles Regarding Provisions for Life Risks,” Society of Actuaries Committee on Actuarial Principles, Transactions of the Society of Actuaries (XLVII), 1995;

 “The Actuary of the future: A contrarian’s view,” The Actuary 29(5), May 1995;

“Fair-Valuing of Insurance Liabilities – Actuarial Approaches,” The Financial Reporter (20), June, 1993;

“Principles of Actuarial Science,” Society of Actuaries Committee on Actuarial Principles, Transactions of the Society of Actuaries (XLIV), 1992;

“A New Study of Life Insurance Company Expenses,” with Andrew S. Cherkas, The Actuary 24(4), April 1990;

“Generating Interest for Whole Life,” Best’s Review, February 1985.

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