Look for L&E at these upcoming Industry Meetings:
- 11th Insurance Linked Securities Summit - Cayman Islands (February 15-17 in Grand Cayman, Cayman Islands): Scott Gibson (panelist)
- LISA's 2nd Annual Institutional Investor Life Settlement Conference (February 22 in New York City): Scott Gibson
- Chicago Actuarial Association's Annual March Workshops Meeting (March 13 in Chicago): Terry Long (speaker)
- NORACS/EURACS 2012 Spring Meeting (April 11-13 in Cape Town, South Africa): Gary Rose
- SOA's 2012 Life & Annuity Symposium (May 21-22 in Los Angeles): Terry Long
Terry Long, FSA, MAAA, of our Kansas City office, will speak on "Valuation, Products and Product Management in a Low Interest Rate Environment" at the Chicago Actuarial Association's Annual March Workshops Meeting in Chicago in March.
Scott Gibson, FSA, MAAA, of our Dallas office, will be a panelist for the Investor's Roundtable, Life Settlements & Longevity Products, at the 11th Insurance Linked Securities Summit in the Cayman Islands in February.
Lewis & Ellis participated in the Society of Actuaries 2011 Annual Meeting & Exhibit held October 16-19 in Chicago. L&E attendees were Roger Annin, Karen Elsom, Leon Langlitz (presenter), Terry Long, Scott Morrow, Tony Proulx and Brian Rankin. Leon Langlitz presented at Session 31 - WRM Workshop for Small Companies with Max Rudolph of Rudolph Financial Consulting, LLC.
L&E was an exhibitor and our door prize was a $150 gift certificate to Fiorella's Jack Stack Barbecue of Kansas City. Jack Stack has been a premier BBQ restaurant in Kansas City for 50 years. The lucky winner was Robert Gandjean of SCOR Global Life Americas in New York City. Congratulations Robert and enjoy the flavor of Kansas City. For everyone else not fortunate enough to win, L&E offered a free L&E sticky notepad.
Our thanks to everyone who visited our booth.
Tom Handley, FSA, MAAA, of our Kansas City office, gave a presentation on ACOs/COOPs: An Actuarial Analysis and Cost Considerations at the AAMSE ACO/COOP Summit in Boston in July.
Leon Langlitz, FSA, MAAA, of our Kansas City office, gave an Actuarial Update at the National Alliance of Life Companies (NALC) 2011 Fall Conference in Park City, Utah, in September.
Roger Annin, FSA, FIA, MAAA, of our London & Kansas City offices, and Scott Gibson, FSA, MAAA, of our Dallas office, were panelists at The Life Settlements Conference 2011 in Las Vegas sponsored by Deal Flow Media in September.
Roger was a panelist for the "Life Expectancies: How Are Fund Managers Analyzing Mortality Estimates?" session. Fund managers increasingly are putting into place strategies to analyze life expectancies based on mortality experience with their own portfolios. Is this making the bickering between the two factions of life expectancy underwriters less relevant to the market? Are life expectancies more accurate in the three years since life expectancies were extended or is it too early to tell?
Scott was a panelist for the "Texas: Why is the Lone Star State Such a Magnet for Alleged Life Settlement Frauds?" session. The Texas Legislature passed a law this year giving insurance regulators more tools to stop fraud, but they failed to make investments in life settlements a security. From the Retirement Value and National Life Settlements receiverships to the Life Partners' SEC investigation, this panel discussed why Texas is at the forefront for a slew of regulatory actions.
Roger Annin, FSA, FIA, MAAA, of our London & Kansas City offices, spoke on "Many Facets of Due Diligence" at the LISA 2011 Compliance Conference in Atlanta in October. Roger discussed financial due diligence as it relates to portfolio and policy acquisitions.
Terry Long, FSA, MAAA, of our Kansas City office, John Palmer of First Consulting and Administration, and Ralph Spaulding of Hinman Straub P.C. were part of a panel discussion on "Product Innovation - Creating and Managing Innovative Product Development" for Session 21 - Fostering an Innovative Environment at the Association of Insurance Compliance Professionals (AICP) Annual Conference in Orlando in September.
Tom Handley, FSA, MAAA, of our Kansas City office, gave a presentation on Historical Trends in Health Care Costs - 1960 to Present for Session 17 PD - Current Medical Trend Drivers at the SOA 2011 Health Meeting in Boston in June. He was quoted in the "SOA Speakers Bring the Numbers" article that appeared in the Life & Health National Underwriter on June 14, 2011.
Tom's presentation examined historical changes in costs and the financing of health care from 1960 to the present plus a comparison of US health care costs to other industrialized countries with an identification of the potential causes of the higher US costs.
Lewis & Ellis' health actuaries consult with both insurance companies and insurance departments. Thus we're active both in developing products and in reviewing rate filings. Recently we assisted Iowa with rate reviews and were mentioned in the article "Insurance official cuts back Wellmark rate hike" that appeared in The Des Moines Register on January 29, 2011.
Steve Bryson, FSA, MAAA, of our Dallas office, has written the article Nondiscrimination Testing for Group Health Plans, which explains how the eligibility and benefit nondiscrimination rules that previously applied only to self-insured plans will soon apply to insured plans as well. A link to this article was included in the January 21, 2011 issue of the BenefitsLink Health & Welfare Plans newsletter.
The life settlement market is poised for growth. Is the actuarial profession prepared to keep up? Roger Annin, FSA, FIA, Tim DeMars, FSA, FIA, and Scott Morrow, FSA, FIA, of our London & Kansas City offices, address this issue in their Actuaries and Life Settlements article, which has been published in the November | December 2010 issue of Contingencies.
Actuaries are uniquely equipped to assist investors in life settlement in a variety of areas. This new market has many aspects that clearly require actuarial expertise. The lack of active actuarial involvement in the market's early days led to mistakes that adversely affected investors, policyowners, and the insurance industry. Opportunities await actuaries who gain the necessary specialized expertise, including product, mortality research, underwriting, and risk management components as they relate to a new financial market.
Click here for a complete version of this article.
We are pleased to announce that David A. Palmer, Certified Financial Examiner, has joined L&E to establish our examination unit. In conjunction with this new practice area, L&E is opening a new office in Baltimore, Maryland. Previously, David served as Chief Examiner for the Maryland Insurance Administration (MIA), and also served in the past as Chief Financial Manager for the District of Columbia Department of Insurance, Securities and Banking.
David has over twenty years of experience in various jurisdictions in managing both financial examinations and the financial analysis function for both Property & Casualty and Life & Health companies. David has been active for many years in the Society of Financial Examiners and is currently serving as the Vice President of State Chapters on the Executive Committee. He has also been active in the proceedings of the National Association of Insurance Commissioners and actively participated in numerous working groups and task forces.
In August 2010, Roger Annin, FSA, FIA, MAAA, Tim DeMars, FSA, FIA, MAAA, and Scott Morrow, FSA, FIA, MAAA, of our London & Kansas City offices, were appointed to the newly formed American Academy of Actuaries' Life Settlements Investment Work Group.
In a proactive move, Scott Gibson, FSA, MAAA, and Jackie Lee, FSA, MAAA, of our Dallas office, created a tool to help you better understand and make optimal use of the recently released Life Insurance Settlement Association's (LISA) common life expectancy (LE) tables with the creation of the "LE Mortality Calculator"; whereby they have graciously donated this tool to LISA.
Don't miss your opportunity to get this excellent industry tool! LISA is making this calculator available to members and non-members alike. The Calculator is free for members and $500 for non-members. To receive your copy of the calculator, simply send your request to support@lisassociation.org.
This easy to use calculator has a number of benefits, including:
- Automatically calculate and graph LE's
- Make quick LE estimates, with a simple click & go system
- Compare 2010 LISA tables to both the 2001 and 2008 VBT integrated tables
- Wonderful educational tool
- Allows industry professionals to gain a better understanding of LE analysis
- See how various features of the calculator will/can affect an LE, like the "Mortality Multiplier" feature
- And much more!
Further details are included in insurancenewsnet.com's LISA Releases Life Expectancy (LE) Calculator article.
L&E has had its GSA Schedule Contract Number GS-23F-0083N under Schedule Number 520 - Financial and Business Solutions extended by the GSA for another five year period. Our service area is actuarial services. The contract award period is from Dec. 12, 2007 through Dec. 11, 2012. Interested parties can check out our GSA Advantage Contractor Catalog.
| 
