Professional Qualifications: Fellow of the Institute of Actuaries (UK), Associate of the Society of Actuaries (USA), Member of the American Academy of Actuaries, Member of the International Actuarial Association, Member of the Caribbean Actuarial Association.
Range of Experience: After qualifying in the UK with the Prudential, John came to Bermuda in 1972 with AIG and gained six years of experience in the US insurance and reinsurance fields. For the next six years he worked for a Bermuda consulting operation formed by Conning of Hartford, Connecticut. John has been the sole proprietor of Abbott Associates, an independent actuarial consulting firm since 1984. In 1993 Abbott Associates signed a co-operation agreement with a Boston actuarial firm, retaining independence but acquiring access to international resources. During the past ten years, aside from his consulting activities, John took up the role of Chief Regional Actuary for Lucida Re (Bermuda) Limited. This reinsurer was a startup established to write new deals in block life and longevity business offered worldwide. More recently he has formed a strategic partnership with a small actuarial firm in Washington DC.
John is involved with a number of insurance and reinsurance companies and acts as Appointed Actuary and Loss Reserve Specialist for several of them. His clients include insurers, captive insurers and reinsurers, self-insured groups, health plans and trusts. His experience includes pricing, reserving, feasibility studies, profit testing, reinsurance, statutory/EBS and IFRS/GAAP valuations, asset valuations, capital models and most other aspects of insurance and benefits business. He has acted as an actuarial expert in court cases involving injury claims. In addition, John is a frequent adviser to governments in the region and sat on the Admissions Committee of the Bermuda Monetary Authority, the Bermuda regulator for more than 8 years. He was also a member of the Bermuda Hospital Commission for many years.
John has been actively involved with the development of modern insurance products and risk solutions and has spoken at actuarial conferences and is well known in Bermuda and to other insurance regulators. He currently sits on the board of several Bermuda based companies and is a full member of the Institute of Directors in London.
- 1966 to 1972 – Prudential Assurance Company Limited (UK)
- 1972 to 1978 – American International Reinsurance Inc. (then 62% of AIG)
- 1978 to 1984 – Argus Conning (Bermuda and Hartford CT)
- 1984 to present – Abbott Associates (Bermuda)