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Remembering Dan McCarthy

Remembering Dan McCarthy

Daniel J. McCarthy, FSA, MAAA, EA, passed away on Sept. 26, 2008. He was 70.

McCarthy began his actuarial career at Equitable Life and joined Milliman USA in 1972. For seven years, beginning in the early 1990s, McCarthy served as the firm's chairman, while continuing to work on consulting projects. McCarthy specialized in life insurance and health care matters. His consulting assignments included mergers and acquisitions, demutualizations, strategic and operational reviews, sales compensation system design and review, appraisals, product development and pricing, and the design, pricing, and review of employee health benefit programs. He was a frequent speaker on actuarial and insurance industry topics.

McCarthy's long and illustrious history of extraordinary volunteer service to the profession, included serving as a member of the SOA's Board of Directors from 1988–91 and 1992–95 and as chair of the SOA's Marketplace Relevance Strategic Action Team from 2006–08 guiding the advancement and promotion of the actuarial profession's image.

From 1980 through 2008, McCarthy served in a leadership capacity at the Academy as president from 2001–02 and worked on numerous committees, including the Pension Practice Area, Budget and Finance, Life Practice Council, Council on Professionalism, Committee on Strategic Planning, Litigation Review Committee, President's Advisory Committee, Nominating Committee and Committee on Membership. Most recently, McCarthy represented the Academy as its first International Secretary, traveling all over the world to represent the U.S. actuarial profession.

In addition, for six years in the 1990s, he was one of nine members of the Actuarial Standards Board, which promulgates actuarial standards of practice for actuaries practicing in the United States.

McCarthy's dedication and volunteer spirit touched The Actuarial Foundation as well. Since 2004, he was an active member of the Board, serving as chairman in 2006 and 2007. McCarthy led the Foundation's fund–raising and development efforts over the last few years which demonstrated his passion for the work of actuaries and their ability to give back to the communities, especially as it related to the importance of raising both awareness and proficiency of mathematics in the classroom.

McCarthy attended Fordham University in New York and graduated with a Bachelor of Science degree in mathematics.

He is survived by his wife, Virginia, six children and 15 grandchildren.

McCarthy's wisdom, dedication, enthusiasm and leadership to the SOA and the profession will be greatly missed.

At the request of the family, memorial contributions may be made to MercyFirst (New York) at

Tributes to Dan

"Dan was one of the hardest–working people I've ever met–both on the job and on behalf of our profession, which he loved. He was a wonderful example for everyone who worked with him in any capacity. But many people work hard. What set Dan apart is how much fun he had. His infectious enthusiasm drew people to Dan, and all of us will miss him very much."
–Bruce D. Schobel, FSA, MAAA, FCA, Society of Actuaries, immediate past president

"For many years, Dan McCarthy has been a colleague, an inspirational leader, a role model, an advisor and a friend. As my immediate predecessor as chairman of The Actuarial Foundation, Dan demonstrated remarkable passion, energy and enthusiasm. His legacy is without equal, and he will be deeply missed."
–Frederick J. Sievert, FSA, MAAA, chairman, The Actuarial Foundation

"Dan was a consummate leader in anything he did. His commitment to the work of The Actuarial Foundation was driven by his passion to make a difference, particularly in educating today's youth. Dan was a man of his word–a man to be admired for much more than his work in the profession, but for the positive influence he had on his community, church, family and all those who had the privilege of knowing him."
–Eileen C. Streu, CAE, executive director, The Actuarial Foundation