James N. Van Elsen, FSA, CPA, MAAA, FLMI

James N. Van Elsen, FSA, CPA, MAAA, FLMI

Contact Information

Address: 116 E 14th St N, Newton, Iowa 50208

Phone: (641) 275-3785

Cell: (641) 521-5046

E-Mail:

Online: http://www.linkedin.com/pub/james-van-elsen/2/443/341

Employment

VAN ELSEN CONSULTING, INC., Pella, Iowa

President, 1995 – 2006, 2009 – Present

Clients: American Republic, Des Moines, IA (developed simplified issue whole life); AmerUS (now Aviva), Des Moines, IA(administrative software conversion assistance); Catholic Order of Foresters, Naperville, IL (developed term product); Cox Health Systems, Springfield, MO (developed group term product); Delta (now part of Aviva), Des Moines, IA (examination assistance); EMCNational, Urbandale, IA (developed term, whole life & universal life products & acquisitionduediligence); Family, Austin,TX(financialreporting assistance); Family Benefit, Jefferson City, MO (chief actuary – appointed actuary); Farm Bureau, West Des Moines, IA (reserve assistance); Federal, Riverwoods, IL (developed term product); General (now part of MetLife), Edwardsville, IL (developed universal life product); GreatWestern, Ogden,UT(chiefactuary – appointed actuary, developed preneed products & financial planning); GuideOne (now part of Kansas City), WestDesMoines, IA (developed group life product); Hannover RE, Orlando, FL (reserve assistance); Harleysville, Harleysville, PA (developed universal life product); Homesteaders, WestDes Moines, IA (chiefactuary – appointed actuary, developed preneed & worksite marketing products); Illinois Mutual, Peoria,IL (developed MVA annuity series); Indianapolis (now a part of Aviva), Indianapolis, IN (regulatory assistance); Investors Heritage, Frankfort, KY (developed term product); Iowa Public Defender, DesMoines,IA (expert testimony on life expectancy); Mitchell, Williams, Selig, Gates & Woodyard, LittleRock, AR (regulatory assistance); Mutual of Omaha, Omaha, NE (reserve assistance); NationalTravelers (now a part of EMC National), West Des Moines, IA (reserve assistance); Pekin, Pekin,IL(chief actuary – appointed actuary, illustration actuary, developed term, universal life, preneed & annuity products); Pharmacists, Algona, IA (examination assistance & post retirement valuation); Principal, Des Moines, IA (illustration regulation assistance); Protective, Birmingham, AL (regulatory assistance); SBLIofMA, Woburn, MA (chief actuary – appointed actuary, illustration actuary, developed term product); SCOR, Dallas, TX (reserving & pricing assistance); Scottish Re, Charlotte, NC (GAAP assistance); SenexServices, Indianapolis, IN (financial modeling); United, Cedar Rapids, IA (examination assistance); Universal American, Lake Mary, FL (financial reporting assistance); & Western Fraternal, Cedar Rapids, IA (examination assistance); WoodmenoftheWorld, Greenwood Village, CO (chief actuary – appointed actuary, illustration actuary, developed term product & financial planning); Woodmen of the World, Omaha, NE (developed disability income rider).

OLIVER WYMAN ACTUARIAL CONSULTING, INC., Chicago, Illinois

Senior Principal, 2007 – 2009

Clients: AARP Services, Washington, DC (review of recommended companies); AEGON, CedarRapids, IA (assistance with US GAAP conversion of Transamerica Life Canada expert testimony for Lincoln v. Transamerica); American Capital Holdings, Jupiter, FL (financial planning); Assurance Group, Jupiter, FL (acquisition assistance); Assurant, Miami, FL (regulatory assistance); CIBC Re, Bridgetown, Barbados (assistance with reinsurance quote for Primerica); Colina Imperial, Nassau,Bahamas (assistance with conversion of Canadian GAAP from Milliman system to AXIS); Connecticut Insurance Department, Hartford, CT (examination assistance on Hartford), CUMIS, Burlington, ON, Canada (assistance with USGAAP conversion); Forethought, Batesville,IN (regulatory assistance); GreatWestern, Ogden,UT(chiefactuary – appointed actuary, developed preneed products & financial planning); Guggenheim Partners, New York, NY (reserve assistance); HannoverRE, Orlando, FL (expert testimony for Hannover RE v. Lincoln Memorial); HealthMarkets, Oklahoma City, OK (term reserves assistance); Homesteaders, WestDesMoines,IA (regulatory assistance); Humana, Louisville, KY (acquisition assistance life insurance product development); Huntington National Bank (actuarial litigation support); Lehman Brothers, New York, NY (appointed actuary for Congress Life, Phoenix, AZ & IFRS assistance including fair value reporting); Manufacturers, Toronto, ON, Canada (acquisition assistance); National States, St. Louis, MO (actuarial litigation support); Quanta Holdings, Hamilton, Bermuda (reinsurance treaty valuation); RBCInsurance Group, Mississauga, ON, Canada (assistance with US GAAP conversion); SBLI of MA, Woburn, MA (review of participating surplus allocations); Security National, SaltLake City, UT (tax reserve §7702 assistance); & Virginia Bureau of Insurance, Richmond, VA (review of reserving practices of Genworth).

ALLIED LIFE INSURANCE COMPANY, Des Moines, Iowa

Vice President & Chief Actuary, 1989 – 1995

#2 officer. Responsible for actuarial, underwriting, annuity services, policy services model office. Developed universal life, term, whole life annuity products. ALLIED Life went public in 1993.

INTEGRATED RESOURCES LIFE INSURANCE COMPANY, West Des Moines, Iowa

Vice President, Finance, 1987 – 1988

Controller for the company. Responsible for all accounting functions, including financial reporting cashier functions. Company was a large writer of variable annuities variable life insurance. Integrated Resources Life, Resources Life & Providence Life merged in 1987.

INTER-STATE ASSURANCE COMPANY, Des Moines, Iowa

Vice President & Treasurer, 1983 – 1987

#2 officer. Responsible for actuarial, accounting, & IT (systems & operations). Developed universal life, term & annuity products. Responsible for conversion of administrative software. Inter-State demutualized was purchased by Central Life (now AVIVA) in 1986. Inter-State was purchased by Irish Life in 1987.

FARMLAND LIFE INSURANCE COMPANY, Des Moines, Iowa

Second Vice President & Actuary, 1980 – 1983

#2 officer. Responsible for actuarial & compliance. Developed whole life, term, group life, individual health, group health & annuity products. Farmland was purchased by Nationwide in 1983.

GENERAL UNITED LIFE INSURANCE COMPANY, West Des Moines, Iowa

Second Vice President & Actuary, 1979 – 1980

Responsible for actuarial financial reporting & model office. Served as chief actuary & assistant controller. General United was merged into All-American Life in 1980.

ERNST & ERNST, Denver, Colorado

Senior Auditor, 1977 – 1979

Worked under Bob Stein auditing several life insurance clients. Denver was the US center for actuarial services. Developed term product for small client.

Education & Training

LIMRA, Hartford, Connecticut

Strategic Planning Training, 1990 – 1993

Strategic planning sessions planning the future of ALLIED Life Insurance Company

WHARTON SCHOOL OF BUSINESS, Des Moines, Iowa

Strategic Planning Training, 1986 – 1987

Strategic planning sessions planning the future of AmerUS Group

LOMA, Amelia Island, Florida

Executive Development Program, 1985

Intensive 2-week program for senior life insurance executives

DRAKE UNIVERSITY, Des Moines, Iowa

Manager Training Courses, 1982 & 1986

FARMLAND LIFE INSURANCE COMPANY, Des Moines, Iowa

Modelnetics, 1980 – 1983

Intensive management course taught by Alden Brouseau

ERNST & ERNST, Denver, Colorado

Senior Auditor Training, 1978

DRAKE UNIVERSITY, Des Moines, Iowa

Bachelor of Science in Business Administration, 1973 – 1977

Graduated magna cum laude, majoring in Accounting & Actuarial Science

Industry Committees

·  AAA Preneed Mortality Working Group, 2008 – Present

·  AAA XXX Practice Notes Work Group, 2006

·  AAA CARVM Practice Notes Work Group, 2003 – 2004

·  AAA Commissioners Standard Ordinary Task Force, 2002

·  AAA Life Practice Council, 1996 – 2001

·  AAA XXX Practice Notes Work Group, 2000

·  AAA Equity Indexed Products Task Force, 1997

·  AAA Task Force on State Variations in Standard Valuation Law, 1996

·  ACLI Task Force on Cost Information, 1994 – 1995

·  ACLI Actuarial Committee, 1993 – 1995

·  ACLI Task Force on Reserves for Policies with Nonlevel Premiums or Benefits (“XXX”), 19911995

·  ACLI Reinsurance Committee, 1991 – 1994

·  LIC Actuarial Committee, 2003 – 2005

Founding Chairman, 2003 – 2005

·  NAIC Technical Resource Group on Sales Illustrations, 1994

·  NALC Actuarial Committee, 1996 – 2001, 2007 – 2009

Founding Chairman, 1996 – 1999

·  SOA Simplified Issue Subgroup, 2009 – Present

·  SOA Smaller Insurance Company Council, 1994 – 1997, 2000 – 2003

·  SOA Life Nonforfeiture Working Group, 1995 – 1996

Professional Designations

·  Fellow, Society of Actuaries (FSA), 1980

·  Member, American Academy of Actuaries (MAAA), 1980

·  Fellow, Life Management Institute (FLMI), 1980

·  Certified Public Accountant (CPA), 1977

Actuarial Resources Developed

·  2001 CSO Spreadsheet, 2001

·  “XXX” Manual, 1999

·  “XXX” Spreadsheet, 1999

Actuarial Software Used

·  TAS, 1995 – present

·  AXIS, 2007 – 2009

·  PTS, 1989 – 1995
Papers & Presentations

·  “Product Development in Troubling Times”, Presenter at NALC Spring Conference, Bonita Springs, FL, April2009.

·  “US Presidents’ Life Expectancy Analysis”, News of Oliver Wyman (NOW), October 2008.

·  “Principles-Based Approach Update”, Presenter at CCIA Valuation Conference for Life & Health Actuaries & Credit Insurance Practitioners, Chicago, IL, July 2008.

·  “Trends in Insurance Financial Management”, Presenter at Northwestern Mutual Financial Network meeting with actuarial management, Milwaukee, WI, June 2008.

·  “Principles-Based Reserves – Update on Progress at NAIC”, Presenter at Oliver Wyman Actuarial Firm Day, SanDiego, CA, June 2008.

·  “Preneed Mortality Road to 26”, Small Talk, April 2008.

·  “Principles-Based Reserves for Life Insurance Companies”, Presenter at Oliver Wyman Actuarial Firm Day, LasVegas, NV, June 2007.

·  “Appointed Actuary Forum”, Panelist at SOA Meeting, Boston, MA, September 2004.

·  “A Critical Review of Triple-X Can Offer a Solution to Greater Credit Risk”, NationalUnderwriter, July2004.

·  “2002 CSO Table, etc.”, Presenter at Life Affiliates Meeting, Austin, TX, October2002.

·  “2001 CSO Table”, Presenter at Life Affiliates Meeting, Pekin, IL, October2001.

·  “‘XXX’ Tales”, Presenter at Life Affiliates Meeting, Columbus, OH, October2000.

·  “Regulation ‘XXX’ Seminar”, Presenter at SOA Seminar, San Diego, CA, June 2000.

·  “Regulation ‘XXX’: Is it the Death of Term?”, Moderator at NALC Summer Conference, Chicago, IL, May2000.

·  “Actuarial Opinion: To Test or Not to Test? That is the Question”, Debater at NALC Summer Conference, Chicago,IL, May2000.

·  “Regulatory Outlook from a Small Company Perspective”, Speaker at ACLI Forum 500 Spring Meeting, RanchoMirage,CA, May 2000.

·  “Living in a XXX World”, Presenter at General American Life Insurance Company BusinessDevelopmentSymposium, St. Louis, MO, February 2000.

·  “Regulation ‘XXX’”, Keynote Speaker at Central Illinois Actuaries Club Meeting, Bloomington, IL, October1999.

·  “Regulation ‘XXX’”, Presenter at American United Life Insurance Company Partnership Forum, Indianapolis,IN, September 1999.

·  “Regulation ‘XXX’”, Presenter at Nebraska Actuaries Club Meeting, Omaha, NE, September21,1999.

·  “The ‘XXX’ Files”, Presenter at the National Fraternal Congress of America Annual Meeting, Arlington,VA, September1999.

·  “‘XXX’ Regulation”, Faculty at Employers Reinsurance Corporation “XXX” Seminar, Boston,MA, July1999.

·  “Market Implications of ‘XXX’”, Faculty at Lincoln National Reinsurance 1999 Pricing Seminar, FortWayne,IN, July1999.

·  “Critical Regulatory & Legislative Issues”, Panelist at NALC Meeting, Boca Raton, FL, June1999.

·  “Impact of Regulatory Uncertainty on Product Innovation”, Panelist at SOA Meeting, Atlanta,GA, May1999.

·  “‘XXX’ Regulation”, Faculty at Deloitte & Touche “XXX” Seminar, Chicago, IL, April1999.

·  “‘XXX’ Update”, Presenter at Des Moines Actuaries Club Meeting, Des Moines, IA, April 1999.

·  “A Regulatory Update”, Presenter at 2nd Annual Term Life Insurance Conference, CoralGables,FL, December1998.

·  “Small Company Update on ‘XXX’”, Small Talk, December 1998.

·  “Nimble Reinsurers Can Help Make Sense of Triple-X Changes”, NationalUnderwriter, October1998.

·  “Critical Issues Forum”, Panelist at NALC Meeting, San Francisco, CA, October1998.

·  “NAIC Regulation ‘XXX’”, Facilitator at SOA Valuation Actuary Symposium, Orlando, FL, September1998.

·  “Small Company Issues”, Moderator at SOA Valuation Actuary Symposium, Orlando, FL, September 1998.

·  “Compromise on Guideline ‘XXX’ in Works”, Small Talk, May 1998.

·  “NAIC Third Quarter Meeting Update”, Small Talk, November 1997.

·  “Costs of Complying with Regulatory Requirements”, Moderator at SOA Meeting, Washington,DC, October1997.

·  “SVO Oversight & NAIC Issue”, Panelist at NALC Meeting, Vancouver, BC, Canada, September1997.

·  “NALC Member Issue Involvement Program@, Panelist at NALC Meeting, Vancouver, BC, Canada, September1997.

·  “Debate on Asset Adequacy Testing for Smaller Companies”, Debater at SOA Meeting, Montreal,ON, Canada, June1997.

·  “NAIC First Quarter Meeting Update”, Small Talk, May 1997.

·  “NAIC Oversight Forum”, Panelist at NALC Meeting, Washington, DC, April 1997.

·  “Examiner Worksheet Seminar”, Seminar for the Iowa Insurance Department, DesMoines, IA, December1996.

·  “Update on Life & Annuity Disclosure”, Panelist at Kansas City Actuarial Club Meeting, OverlandPark,KS, November 1996.

·  “NAIC Third Quarter Meeting Update”, Small Talk, November 1996.

·  “Life & Annuity Disclosure (January 1997 & Beyond)”, Panelist at NALC Meeting, Cancun, Mexico, October1996.

·  “State Variations in Standard Valuation Law”, Panelist at SOA Valuation Actuary Symposium, Reno,NV, September1996.

·  “Life Insurance Sales Illustrations: What Next?”, Panelist at SOA Meeting, MarcoIsland, FL, May1996.

·  “Get Ready for Illustration Regulation”, The Financial Reporter, March 1996.

·  “Life Insurance Illustrations from a Smaller Company Perspective”, Presenter at the DesMoinesActuariesClub, DesMoines, IA, February 1996.

·  “New Concepts Being Considered for Life Nonforfeiture Law”, Small Talk, December 1995.

·  “Update on ‘XXX’”, Small Talk, December 1995.

·  “Life Insurance Illustrations Update”, Presenter at the Joint Meeting of the SoutheastActuarialClubtheActuarial Club of the Southwest, New Orleans, LA, November 1995.

·  “Life Insurance Illustrations Workshop”, Facilitator at the Joint Meeting of the SoutheastActuarialClubthe Actuarial Club of the Southwest, New Orleans, LA, November 1995.

·  “Smaller Company Survival at Stake”, Newsletter of the National Alliance of Life Companies, July1995.

·  “Evaluating Financial Aspects of Different Distribution Systems”, Panelist at SOA Meeting, Kansas City, MO, May1986.

Publications Quoting

·  American Bankers Newsletter

·  Best Review

·  Des Moines Register

·  Financial Reporter

·  Fortune

·  Insurance Times

·  NALC Newsletter

·  National Underwriter

·  New York Times

·  Small Talk

·  US News & World Report

·  USA Today

·  Wall Street Journal

Community

PELLA CHAMBER OF COMMERCE, Pella, Iowa

Member, 2002 – 2005

COLFAX-MINGO SCHOOL DISTRICT, Colfax, Iowa

Board of Directors, 1992 – 2000

President, 1994 – 1995, 1998 – 1999

KIWANIS, Colfax, Iowa

Member, 1995 – 2000

COLFAX CHAMBER OF COMMERCE, Colfax, Iowa

Member, 1995 – 2000

MID-IOWA DEVELOPMENT FUND, INC., Des Moines, Iowa

Board of Directors, 1995 – 2000

COLFAX-MINGO EDUCATIONAL FOUNDATION, Colfax, Iowa

Founding Board of Directors & Treasurer, 1993 – 1996

DES MOINES CIVIL WAR ROUNDTABLE, Des Moines, Iowa

Adjutant, 1994 – 1996