FSA, FRM, PRM, FALU, MAAA
Leonard Mangini is a Fellow of the Society of Actuaries, a Certified Financial Risk Manager, a Professional Risk Manager, a Fellow of the Academy of Life Underwriting, and a Member of the American Academy of Actuaries.
Mr. Mangini is professionally active; he is Chair of the Academy of Actuaries Life Reserve Work Group- which works with regulators on Principles Based Reserves, serves on the Academy’s Life Practice Council which is responsible for all public policy matters with respect to Life Insurance and on the Life Valuation Committee which serves a similar role for Life insurance valuation. He also currently serves as an elected member of both the Society of Actuaries’ Product Development and Joint Risk Management Section Councils, and previously was Chair of the Financial Reporting Section. He is also on the Leadership Committee of the Society of Actuaries new Assumption and Model Development Group.
Prior to joining Huggins, Mr. Mangini has had a diverse career with several reinsurers, two direct insurers, and two leading actuarial consulting firms prior to re-entering consulting with his own firm Mangini Actuarial And Risk Advisory LLC. His most recent corporate role was as SVP and Deputy Global Chief Actuary of a multiline insurer with nineteen business units in Asia, Canada, and the US, where he was a member of the Global Asset Liability and Global Product Risk Oversight Committees and served on the Boards of three internal subsidiaries.
In addition, Mr. Mangini was a co-founder of a start-up life reinsurance business unit within a global multiline life and P&C insurer starting as Chief Actuary and Life Chief Risk Officer before becoming the unit’s President.
He has over twenty-eight years of experience in life insurance and reinsurance.
- Corporate oversight over IFRS and US GAAP valuation assumption for all more than 100 in 19 global business units
- Valuation Model Risk Management in an ORSA context coordinating with internal/external audit, quarterly IFRS and US GAAP earnings analysis coordinating with investor and rating agency relations staff
- Establishing processes for reinsurance data collection, peer review of treaty level pricing and underwriting assumption setting, peer review of pricing and valuation models
- Management and financial reporting, and an ongoing ERM Cycle to control these processes
- Life and Annuity insurance product development and re-engineering
- Reinsurance marketing, pricing, underwriting, treaty development, and design of client audit programs
- Developing appraisals in sell-side M&A transactions, statutory and GAAP audits and liability Cash-Flow Testing
- Consulting in market conduct lawsuit defenses, and the largest US mutual insurance company IPO