April 11, 2000
The Great Rating
When the subject is
solvency and financial strength (and everything those things entail),
one naturally looks to the insurance industry's "regulators."
The regulators, however, aren't elected or appointed public
officials; they are the rating agencies, and they've become more
assertive than ever. On hand to participate in a 30-round,
bare-knuckled, championship discussion will be the three top-rated
contenders in the heavyweight division. In one corner we'll have A.
M. Best's formidable group senior vice president, Larry
G. Mayewski. Across the ring will be the impressive Patrick
Finegan, senior vice president at Moody's.
Rounding out the card will be the ever-imposing Alan Levin,
managing director at Standard & Poor's. No
punches will be pulled. Hard questions will be asked--and answered.
who has had the "real world" experience of being vice
president at a major life insurer and director at a major rating
agency, is now vice president at Salomon Smith Barney
and provides incisive equity research coverage on a diverse group of
North American life-insurance companies. He's not afraid to issue a
controversial opinion when it's called for (such as being extremely
bearish--rightly so--on a major life insurer). Colin will share his
outlook on the life-insurance industry, including the effects of
demographics, Conference Speakers demutualization, and distribution,
and will tell us where he sees value and where he sees trouble.
The Inside Story on
In 1997, Bonnie
Steingart, who had been a partner at Fried, Frank, Harris,
Shriver & Jacobson for 11 years,
left private practice for the field of public service. She spent the
next two years with the New York State Department of Insurance,
where she was Deputy Superintendent and General Counsel. She
participated in many legislative, regulatory, transactional, and
enforcement initiatives undertaken by the department, and supervised
a staff of fifty lawyers. Last September she rejoined Fried, Frank.
Bonnie's perspective on financial-services reform, regulation, bank
holding companies, and competition will fascinate you--and surprise
Big Time Money
Two billion dollars is
a nice round number, and it just happens to be about the amount of
money that Meryl D. Hartzband oversees in her role as
Principal and Investment Director at Marsh & McLennan
Capital, which specializes in private equity investments in
insurance and financial-services businesses. Meryl is a savvy
investor who has had a rare inside view of the insurance industry.
(In addition to making major investments, she's a director of ACE
Limited.) She will share some of her thoughts about the insurance
industry and perhaps will tell us what she's planning to invest in
Observer Speaks Out
began working--reluctantly--in the insurance business in 1974, and
despite repeated attempts, has not been able to kick the habit. He
has held a number of jobs over the years, the best of which has been
writing Schiff's Insurance Observer, which he founded
in 1989. In addition to peppering the other speakers with difficult
questions, David will have his say on the great insurance issues of