|
EDUCATIONHarvard
Business School – Advanced Management Program
Princeton University – M.A., Mathematical Physics
Harvard
College – A.B., Cum Laude, PhysicsPROFESSIONAL EXPERIENCENew World Actuaries 2008 - present
President
AADicke LLC
2008 - present
President
AADicke
Consulting 2007 - 2008
Principal (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 Clients:
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
Partner
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 - 1999Vice President & ActuaryResponsible
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 - 1997Executive 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
Consultant
Provident Mutual 1983 - 1988
Senior
Vice President & Chief Actuary
Penn Mutual
1974 - 1983
Second Vice President & Individual Actuary (last of several positions)
PROFESSIONAL ACTIVITIES
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
PUBLICATIONS“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.
|
