September 2008 Meeting

Event: September 2008 Meeting

Topic: ERM – Crawling from the Subprime Wreckage 

Jay Glacy will survey the impact upon insurers of the ongoing credit storm, tracing its origins in residential housing finance to its evolving effects throughout the industry and economy.  Jay will contrast the performance of the insurance sector in responding to the crisis with other financial services providers and review important learnings and implications.  He will also provide an update on where ERM stands today in the industry, focusing on the transition to strategic risk management.

Speaker:  Jay Glacy, ASA, MAAA, CERA, CFA, is a Senior Consultant at Milliman, Inc. and leads its Chicago-based ERM practice.

Jay Glacy leads Milliman's Chicago-based ERM practice, helping client firms balance total risk exposures and optimize their deployment of risk capital.  Previously, Jay was Senior Vice President with Allstate, heading its ALM operations.  Before that, he served as Vice President and Actuary with GeneralCologne Re Capital, the investment advisory arm of Berkshire Hathaway.  Before that, Jay was Senior Manager at Ernst & Young, providing strategic capital market risk advisory services to the life insurance industry.  In addition, Jay served in various leadership capacities at Lincoln National and Citigroup.

Jay possesses the ASA, MAAA, CFA and CERA credentials.  He is a frequent contributor to industry periodicals, writing on emerging topics of interest to industry professionals, and a well-known speaker in actuarial and investing circles.  Earlier this year, Jay authored the article entitled “Asset/Liability Management for Insurers” for Investments and Wealth Monitor.

Date:  Tuesday, September 16, 2008

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