Presenters

Eric Berg, CPA, CFA

Lehman Brothers

Eric Berg, joined Lehman Brothers in 1999 and is currently a managing director and senior research analyst following the life insurance industry. In the life insurance category, Eric has been a member of Institutional Investor magazine's "All-America Research Team" for more consecutive years than any other currently ranked analyst. Prior to joining Lehman Brothers, Eric's industry experience included four years at CIBC Oppenheimer, where he was the life insurance analyst and where for three consecutive years he achieved II "All–America Research Team" status. Prior to CIBC Oppenheimer, Eric was the property/casualty analyst at Bear Stearns. Prior to Bear Stearns, Eric spent almost 10 years as a writer and editor at The New York Times, where he focused on the insurance industry. Eric earned an undergraduate degree from Wharton and an M.B.A. from Stanford School of Business.

Peter Clark

IASB

Peter Clark is a Senior Project Manager at the International Accounting Standards Board (IASB), having joined the IASB's predecessor, the International Accounting Standards Committee (IASC), in 1994. He is currently responsible for the IASB's project on Insurance Contracts, and also oversees various other IASB projects. His previous responsibilities included the IASB's project on the First–time Adoption of International Financial Reporting Standards and several IASC projects, including Employee Benefits and Income Taxes. From July 2008, he will be Director of Research at the IASB, responsible for identifying and managing issues that affect a range of IASB projects, and for overseeing technical quality.

After qualifying as a Chartered Accountant with Peat, Marwick, Mitchell & Co. in London, he spent four years in Luxembourg, initially with Fiduciaire Générale du Luxembourg and then with KPMG. He returned to London in 1989 as a Senior Technical Manager at Clark Whitehill, where he was responsible for monitoring developments in accounting, auditing and company law.

Ellen Cooper, FSA, CERA

AEGON USA Inc

Ellen Cooper is the Chief Risk Officer of AEGON USA. Her responsibilities include building a strong risk governance structure with clearly defined roles and responsibilities, implementation of an economic framework, setting pricing and risk limit policies, and promoting strong risk management culture throughout the organization.

Prior to joining AEGON in May 2006, Ellen was a Principal at Ernst and Young where she was responsible for leading risk management advisory projects as well as building Risk Management new initiatives including the implementation of a derivative based hedging software tool, Leading Hedge™.

She has been in the insurance/risk management industry for over 20 years and has also held positions at Tillinghast/Towers Perrin and AIG (ALICO). Ellen is a Fellow of the Society of Actuaries, Chartered Financial Analyst and Chartered Enterprise Risk Analyst.

Jeffrey Cropsey

FASB

Jeffrey is a Project Manager at the Financial Accounting Standards Board ("FASB") principally covering insurance–related accounting issues. Jeffrey previously served as Chief Financial Officer for two publicly owned reinsurance companies and, prior to those positions, as a Vice President at The Equitable Life Assurance Society (now part of AXA). Before moving into industry, Jeffrey was a partner with KPMG Peat Marwick and Touche Ross & Co. While at Touche Ross & Co., Jeffrey took a two–year leave of absence to serve as a Practice Fellow at the FASB. Jeffrey earned a BSE degree from Princeton University and an MBA from Stanford University.

Richard H. Daillak, FSA, MAAA

wiss Re Life & Health America

Richard Daillak is vice president and corporate actuary of Swiss Re Life and Health America, with responsibilities encompassing regulatory developments, tax reserving, and actuarial valuation internal controls. He is a member of the ACLI Deputies Group on Principles–Based Approaches, and chair of its Reinsurance Subgroup. As an Academy member, he participates regularly on the AAA Reinsurance Workgroup.

Robert A. DiRico, ASA, MAAA

ING USA Annuity & Life Insurance Co

Bob began his actuarial career as a pricing actuary with CIGNA. Moving to PriceWaterhouseCoopers he was involved in audits of life insurance companies, actuarial appraisals, demutualizations and the valuation of fixed and variable annuity contracts. Since 2005, he has been with ING in the Insurance Risk Management area with corporate responsibility for emerging regulatory issues, IFRS issues, tax strategies, managing reinsurance exposures, catastrophic reporting and oversight of the Economic Capital audit. He is a member of the ACLI's International Solvency Committee, the American Academy of Actuary's Life Practice Council and chairs the AAA work group developing the Practice Note on Credibility. Bob and his wife Wendy reside in Wayne, PA along with his 5 daughters.

Mark J. Freedman, FSA, MAAA

Ernst & Young LLP

Mark Freedman is a Principal in the Insurance and Actuarial Advisory Services practice of Ernst & Young. He has more than 30 years of experience in the life insurance industry, including over 25 years of experience serving clients.

Mark has extensive experience in the following areas:

• AAP experience includes GAAP conversions for large companies, GAAP for non–U.S. business, Purchase GAAP, forecasting and earnings analysis, FAS 157 analyses, and FAS 159 pilot tests
• IFRS experience includes education sessions, early conversion efforts for global companies, and substantial research on profit emergence under Fair Value type standards
• Economic capital and market consistent embedded value reviews
• Statutory financial reporting
• Mergers and acquisitions and modeling, including modeling of companies and blocks of business, actuarial appraisals, demutualizations, mutual company mergers, and due diligence work
• Leads actuarial audit support efforts at large life insurance companies

Mark holds a Bachelor of Arts from the University of Pennsylvania. He is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries. He currently serves on the Board of Directors for the Society of Actuaries and is the Society of Actuary's representative on the Insurance Accounting Committee of the International Actuarial Association. In the past, Mark served as a member of the Life Operating Committee of the Actuarial Standards Board and as the Chair of the Financial Reporting Section Council of the Society of Actuaries. He is also a past President of the Actuaries Club of Philadelphia and co–author of the Society of Actuaries' textbook, U.S. GAAP for Life Insurers–Second Edition.

Keith Gubbay, FSA, MAAA

Sun Life of Canada

Keith Gubbay has been Senior Vice President and Chief Actuary of Sun Life Financial, United States Operations, since November, 2004 where he is responsible for oversight of all actuarial, risk management, and asset liability functions. From 1998 until 2004, Mr. Gubbay served ING Americas, where he held several executive positions, most recently Executive Vice President and Chief Actuary. Mr. Gubbay graduated from Sheffield University in England with a bachelor's degree in economics and received a master's degree in business from Stanford University where he was a Sloan Fellow. He is a fellow in the Society of Actuaries and a member of the American Academy of Actuaries.

Tara J. P. Hansen, FSA, MAAA

Ernst & Young LLP

Tara Hansen is a Senior Actuarial Advisor in the Insurance and Actuarial Advisory Services practice of Ernst & Young and is based in the firm's New York office. She has previously been based in the Atlanta and London, UK offices of Ernst & Young. Ms. Hansen has 13 years of experience in the life insurance industry, with an emphasis on financial reporting, reinsurance and mergers and acquisitions.

Ms. Hansen is a frequent speaker at SOA and other industry meetings on financial reporting topics such as principles–based reserves, fair value and international financial reporting standards. She was a volunteer for the Society of Actuaries research project on the new International Financial Reporting Standards discussion paper and is currently President of the Actuarial Society of Greater New York.

Ms. Hansen holds a Bachelor of Arts in Mathematics from the University of Miami, Coral Gables, Florida. She is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries.

Christine Holmes

Ernst & Young LLP

Christine is an assurance partner in our Global Insurance Center. She has 18 years experience with Ernst & Young, focused on life, health and general insurance and 1 1/2 years experience as a Director of Finance for an emerging division of a multinational contract research organization. She recently spent six months in our Tokyo office working with our Asian offices on quality initiatives and insurance training programs. Christine is a member of the Insurance Working Group, supporting Ernst & Young's response to the IFRS Discussion Paper on Insurance Contracts as well as the FASB Invitation to Comment on the same topic.

David E. Neve, FSA, MAAA

Principal Financial Group

Dave is Assistant Vice–President and Corporate Actuary for the Principal Financial Group and serves as the company's appointed actuary. His other current responsibilities include corporate modeling, capital management, risk analysis, and earnings forecasts. Dave has spent most of his 30–year career, all with the Principal, in a variety of corporate roles, including strategic planning, tax planning, capital management, risk management, and financial reporting.

He is currently serving as Vice–chair of the Academy's Life Practice Council and is chairman of the Academy's Life Reserves Work Group. He has served as chairman of several other Academy work groups in recent years, including the Asset Adequacy Analysis Practice Note Work Group and the Deficiency Reserves Work Group.

Dave graduated with a bachelor's degree in Mathematics in 1976 from Wartburg College, Waverly Iowa, and with a master's degree in Actuarial Science from the University of Wisconsin–Madison in 1977. He lives in Des Moines, Iowa with his wife, Julie, and has three grown children.

Leonard J. Reback, FSA, MAAA

Metropolitan Life Insurance Co

Reback has been working as an actuary for 19 years and he joined MetLife in 1989. His current responsibilities include DAC, SOP 03–1 reserves and similar items for MetLife. He is also leading MetLife's actuarial effort in the adoption of FAS 157 and FAS 159. Previous roles included GAAP earnings projections, statutory valuations and cashflow testing.

Leonard is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries. He currently serves as vice–chair of the AAA Life Financial Reporting Committee. Leonard graduated Summa Cum Laude from Binghamton University with a B.S. in Accounting and graduated from New York University Stern School of Business Administration with an M.S. in Statistics and Operations Research.

Phil Vermeulen

Ernst & Young Zurich

Phil Vermeulen is a Senior Advisor in Ernst & Young's European Actuarial Services practice, based in Zürich. He has worked for a number of years with insurance industry clients in the UK, Switzerland, France, Germany, the Netherlands and Belgium, with a focus on the development of economic capital models.

• Recent assignments include:
• Managing the global audit of the economic capital of a major European group
• Leading the design of a market consistent product pricing and performance measurement framework for a European bancassurer
• Preparing the submissions of the Solvency II Quantitative Impact Studies for a number of European groups
• Assisting selected Swiss insurers and reinsurers with their implementation of the Swiss Solvency Test
• Assisting UK companies with the implementation of the Individual Capital Assessment framework, a forerunner to Solvency II

Phil is also a member of Ernst & Young's Solvency II Taskforce and is active in contributing to the European industry debates on Solvency II.

Hans J. Wagner, FSA, MAAA

AXA France

Hans Wagner is the Group Chief Life Risk Officer and former Corporate Actuary at AXA's corporate offices in Paris, France. His teams provide oversight for life product and technical risks as part of AXA's global risk management network. He previously was responsible for actuarial issues related to financial reporting under IFRS and US GAAP standards, as well as coordinating AXA's Embedded Value disclosures and internal value management. Hans has been an active participant in various working groups of the "CFO Forum" and currently is chairman of its Embedded Value Working Group. He also serves on the International Accounting Standards Board's Employee Benefits Working Group. He previously worked for AXA Asia–Pacific Holdings in Australia, and before that in the US for Ernst & Young and a number of US insurers.