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Low Interest Rate Executive Task Force

Ready or Not: How Life Insurers are Preparing for Extended Low Rates While Managing Through COVID-19

5/26/2020 1:00 PM EDT - 2:00 PM EDT
Webinar

Overview

Who Should Watch

LIMRA/LOMA or ACLI/IRI members who are interested in learning how the current low interest rate environment is affecting our industry.

Highlights

LL Global (LIMRA, LOMA) partnered with Oliver Wyman and ACLI to form a low interest rate task force. The group is led by an executive steering committee of twelve current and former LL Global board members from twelve member companies.  The task force is comprised of over 100 senior leaders from across the industry participating in subcommittee work focused on three areas: Readiness/Advocacy, Customer/Distribution, and International (lessons learned from low rate countries).

In light of the recent outbreak of COVID-19 and the sharp decline in rates from the beginning of the year we accelerated the work on advocacy and company readiness.  The ACLI and IRI are running full speed ahead with a list of advocacy priorities requiring immediate attention. 

We gathered additional executives to focus on six readiness “sprint" topics: variable annuity/fixed indexed annuity hedging, new business and product, asset-liability management, cash flow testing, COVID-19 mortality/morbidity, and social distancing and distribution. The objective of these sprints was to develop best practices for the industry.

This webinar will cover the key findings and survey results of the “sprint" readiness topics as well as progress on related advocacy efforts.

 

Registration

Registration will close at 12:30 p.m. EDT.

Presenters

David Levenson
President and Chief Executive Officer, LIMRA, LOMA, and LL Global, Inc.

David Levenson

President and Chief Executive Officer, LIMRA, LOMA, and LL Global, Inc.

David Levenson is responsible for leading one of the world’s largest associations of life insurance and financial services companies, representing more than 1300 financial services companies across 64 countries. Most recently, Levenson was a principal at Edward Jones and served on its management committee from 2015-2018. He was responsible for all products distributed through its network of 17,000 advisors in the U.S. and Canada. Prior to 2012, Levenson was president of wealth management at The Hartford Financial Services Group, responsible for the firm’s individual annuity, individual life, mutual fund and retirement plan businesses. He also served as president and CEO of Hartford Life, KK in Tokyo, where he was responsible for leading the largest annuity provider in Japan.

Kristin Ricci
Partner, Oliver Wyman

Kristin Ricci

Partner, Oliver Wyman

Kristin is a Partner in Oliver Wyman’s Insurance practice and is based in Washington, D.C. In this role, she advises insurers and other financial services institutions on a range of strategy, risk, and regulatory themes. She graduated summa cum laude from Dartmouth College with an AB in Engineering Sciences and Economics. She joined Oliver Wyman in 2010. Prior to joining Oliver Wyman, she worked at Criterion Economics, a boutique economic consulting firm.
Scott Campion
Partner, Oliver Wyman

Scott Campion

Partner, Oliver Wyman

Scott is a Partner in Oliver Wyman’s Insurance practice. He has spent the past thirteen years consulting to the financial services industry, focusing primarily on life insurance clients. Scott graduated magna cum laude from the University of Pennsylvania and holds bachelors degrees in both Business and Engineering.
Paul Graham
Senior Vice President, Policy Development, American Council of Life Insurers (ACLI)

Paul Graham

Senior Vice President, Policy Development, American Council of Life Insurers (ACLI)

Paul Graham is Senior Vice President, Policy Development for the American Council of Life Insurers in Washington, D.C., where he is responsible for many legislative and regulatory issues, including all matters accounting and actuarial related, as well as leading ACLI’s research arm. He is an actuary by trade and recently spent a majority of his time as ACLI’s project manager for the principles-based reserves (PBR) and captive reinsurance projects and was also the ACLI’s actuarial lead on 2017 tax reform. Up until March, Paul was spending much of his time working on PBR implementation issues, changes to risk-based capital calculations, and issues related to long-term care insurance rate increases. Since then, he has been ACLI’s project lead on all financial issues brought on by COVID-19. Prior to joining the ACLI in 2001, Mr. Graham served as Vice President and Group Actuary for Phoenix American Life, the group life and health subsidiary of the Phoenix Companies, where he also served as Phoenix American’s Chief Financial Officer and Appointed Actuary. He played an instrumental role in the sale of Phoenix American to GE Financial Assurance in 2000, and subsequently assumed the role of Vice President and Chief Actuary of GEFA’s Employer Services Group. Mr. Graham earned his Fellowship in the Society of Actuaries in 1989 and is a member of the American Academy of Actuaries. He is a summa cum laude graduate of the University of Connecticut, with a B.S. degree in Mathematics and Actuarial Science.
Susan K. Neely
President and Chief Executive Officer, American Council of Life Insurers

Susan K. Neely

President and Chief Executive Officer, American Council of Life Insurers

Susan Neely leads the American Council of Life Insurers (ACLI), the nation's foremost trade association dedicated to providing products and services that contribute to Americans' financial and retirement security. She drives public policy and advocacy on behalf of ACLI’s member companies that represent 95 percent of industry assets and serve 90 million families. Neely has long been recognized as a leading voice in public policy and advocacy in Washington, D.C. She served as special assistant to President George W. Bush and helped create the U.S. Department of Homeland Security (DHS), and later became the first DHS Assistant Secretary for Public Affairs. Neely has been named Trade Association CEO of the year by two different national organizations.

Contact us to learn more:

Amanda Cristina

Senior Meeting Planner

LIMRA

(860) 298-3829

acristina@limra.com