Peter Clare Email & Phone Number

Leading a team of over fifty people across several US and Indian states responsible for Life, Group Benefits, Reinsurance, and Accident and Health Valuation. Qualified Actuary for VM-20.

Houston, Texas, United States

Led a small team responsible for GAAP and Statutory exhibits and schedules, board presentations, and senior management presentations. Led project to implement PBR for AIG's US Life companies. Actuarial lead on several workstreams including the workstream responsible for identifying initial impacts and the workstream responsible for dry and comparative runs. Built small team to work on actuarial and IT interface and data issues. For this and previous roles Corebridge was part of AIG.

Houston, Texas Area

Took a role as VP Risk and Reinsurance in AIG's Life, Health and Disability business. Re-orged into AIG's then new Legacy organization as part of a team of 18 responsible for disposing of $45B of AIG's legacy business. Helped set up and sell Fortitude Re, working on appraisals, block sales, staffing, etc., while also working on managing the business including operations, non-guaranteed elements, LTC rate filings, operations, TPA and reinsurer interactions, outsourcing, and review of investment approach, cost allocations, etc.

Houston, Texas Area

Lead reviews of various financial models for hedging, pricing, reserving, risk management, etc across a range of products and systems.

West Chester, Pennsylvania

• Responsible for reserves and rating agency capital for our annuity group. • Approved Actuary for Security Life of Denver International, our multiline Cayman company • Managed a department of ten, including three directs each with over fifteen years’ experience. • Identified and implemented multibillion dollar S&P CTE95 VA capital savings. • Responsible for statutory and tax reserves and rating agency capital for the retail VA, FA, and FIA businesses. • Worked with external firm to produce statutory and tax projections for ING’s new dividend / debt servicing model• Part of the “Annuity Core Team” responsible for evaluating various IPO related initiatives• Identified that moving ING’s bonus payment date could save ING 35% of the payout.• Almost halved reserve production time

Atlanta

• Promoted twice, from Associate Actuary to Actuary, then from Actuary to Senior Actuary.• Team Lead for Risk Management and Actuarial sections of US Insurance data room and actuarial appraisal • Proposed and championed re-domestication of multiline Bermuda captive to Cayman Islands avoiding the need to comply with Solvency II, and adding regulatory efficiency. • Part of ING’s talent development program• Prioritized and helped to drive projects increasing capital metrics by over a billion dollars • Including off shoring, selective hedging, manipulating C3P1&2, and asset sales • Identified accounting change significantly increasing RBC and S&P capital• Presented on Economic Capital at the Valuation Actuaries Symposium• Responsible for tracking and projecting capital (RBC, S&P, and offshore) • Lead project to create new investment company subsidiary of ING’s Bermuda captive, minimizing taxes and improving offshore capital • Identified possible tax planning strategies to IRS to defend significant Net Operating Losses• Helped design multi-billion dollars capital hedge position• Corporate aggregation of C3 Phase 1 and proposed reserve postings to zero C3P1 and C3P2 requirements• Created ING US Insurance’s first ever 5 year capital forecast• Legal entity role with onshore investment subsidiary of our offshore insurance company

Involved in the investment risk management of ING's US$80B plus general account portfolio.- Reviewed new investment products- Coordinated investment mandates for the US business units- Assisted with development of mandate for offshore entity- Assisted in selection of assets and negotiation of asset side of ModCo deal.

Worked in the Life insurance and Financial Services LOB of Tillinghast - Towers Perrin (now WTW). Extensive experience in XXX, AXXX, and disability securitization's. Designed Tillinghast's Life Settlement valuation tool. Worked with hedge funds and investment banks to value life settlement/viatical type policies. Helped companies prepare embedded value results, and have reviewed EV numbers for divisions of a large multinational insurance conglomerate. Priced equity indexed annuities, universal life, whole life, and term policies.

In this role I aided in the placement of reinsurance treaties across a range of domestic and foreign markets.

In this role I learnt about reinsurance of health, property and casualty insurance. I also learnt about alternative structures, such as captives, and securitization.

Msc, Actuarial Science

Ba (Hons), Mathematics

Activities and Societies: University Debate Team, University Radio