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Howard Zail
CURRENT POSITION
Partner of Lotter Actuarial
Partners Inc.
EDUCATION
MBA – Columbia Business
School (New York), Deans List, Beta Gamma Sigma honors society
FFA – Fellow of the Faculty of Actuaries (Edinburgh, UK)
FSA – Fellow of the Society of Actuaries
Bachelor of Science (Honors) – University of Witwatersrand (Johannesburg,
South Africa)
PROFESSIONAL AND
BUSINESS HISTORY
Lotter Actuarial
Partners Inc. (2000 - present)
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Actuarial consultant
for insurers, reinsurers, risk managers, insurance intermediaries
and their clients.
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Provide specialty advice to insurance companies on financial and
business restructuring and workouts of distressed business lines
and risk exposures.
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Expert in working with advanced insurance structures including alternative
risk transfer business, financial guarantees, loss portfolio transfers,
finite deals, capital relief, earnings smoothing and other specialized
transactions.
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Advisor on life and health products, including long-term care, conventional
and variable annuities, and health care reinsurance programs.
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Financial analyst
for:
Centre, a member
of Zurich Financial Services Group (1997-2000, New York, NY)
Vice President:
Provided financial and actuarial analysis and restructuring work
for a range of insurance and reinsurance structures and financial
investments of the company.
- Performed workout
and restructuring management for over $300 million in exposures
to distressed assets:
- Secured
additional short term funding for distressed operations
- Worked with
operation management to reorganize their financial structure
- Put in place
surety bonds to facilitate further borrowing capacity and alleviate
liquidity issues
- Member of the
board of directors for one of Centre’s venture capital investments;
structured bridge loans and preferred equity for the company.
- Analyzed and
provided due diligence of an acquisition of a disability insurance
company with more than $250 million of assets.
- Performed actuarial
studies and designed and structured a range innovative life and
health programs including long term care, variable annuities,
structured settlements, and health insurance programs.
- Established
reinsurance programs including a major provider excess and HMO
stop loss program.
Donaldson, Lufkin &
Jenrette (1996-1997, New York, NY)
Associate, Insurance
Investment Banking: Worked on financial transactions for insurance
companies; performed valuation analyses; coordinated transactions
with clients and presented deals to potential investors. Transactions
experience included:
- Prepared a
fairness opinion for the acquisition of a major health insurance
company; conducted due diligence on the target company and assessed
the financial viability of the merger.
- Organized the
exclusive sale process for a property and casualty insurer; prepared
sale marketing materials and negotiated with potential buyers.
- Developed and
modeled financial structures for various merger and acquisition
deals.
- Assisted in
the private placement of equity capital for an international life
insurer.
Commercial Union Life
(1991-1994, Johannesburg, South Africa)
Head of Product Development:
Managed team that designed and priced investment and insurance products.
Strategic and Financial
Planner: Compiled annual company strategic plan; worked with company
directors and senior management in devising strategic direction,
setting financial and operational policy and establishing department
budgets; produced new business goals and pro forma financials.
- Devised investment
criteria for a hedged fixed income portfolio (assets of $145 million);
programmed software to monitor portfolio, assist investment decisions
and assess interest rate risk.
- Conducted an
in-depth study of establishing a health care insurance subsidiary.
ACADEMIC STUDIES AND
THESES
- Insurance Risk
Securitization – MBA thesis for Columbia Business School
- Review of Asset
/ Liability Management Techniques – B.Sc. (honors) thesis
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