Understanding New Capital Reserve Requirements for the Life Insurance Industry
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Thomas Hampton
Commissioner
D.C. Department of Insurance, Securities and Banking

Thomas Hampton was appointed the Commissioner for the District of Columbia Department of Insurance, Securities and Banking (DISB) in May 2006. In this role, Mr. Hampton is responsible for the agency that regulates financial services industries in District of Columbia including insurance companies and their representatives, DC chartered banks, mortgage lenders and brokers and other non-depository financial institutions as well as securities broker dealers and investment advisors.

Mr. Hampton represents the District of Columbia on several national financial services regulatory associations such as the North American Securities Administrators Association, the Conference of State Banking Supervisors and the National Association of Insurance Commissioners. As a member of the NAIC, the state insurance regulators association, Mr. Hampton was a member of the NAIC Executive Committee and chair several working groups including the Capital and Surplus Relief Working Group which reviewed the possibility of expedited changes to the reserving, capital and accounting requirements of life insurance companies due to the 2008 economic crisis. Mr. Hampton also chair the Principles Based Reserving Working Group which is changing the reserving process of life insurance companies from an over hundred year old system of using reserving tables to an approach of reserving of life insurance products based using principles as guidelines. Mr. Hampton has participated in several technical committees involving the development of financial and accounting principles.

Mr. Hampton most recently held the position of the Deputy Commissioner of DISB and in that position he was responsible for organization-wide policy development and program execution, as well as technical oversight of the insurance, securities, banking and fraud investigation activities. In 2004, Mr. Hampton was responsible for effectuating the merger between the former Department of Insurance and Securities Regulation and the Department of Banking and Financial Institutions, creating the Department of Insurance, Securities and Banking, one of the few agencies in the country that regulate all the financial services industries in one department.

Prior to joining DISB, Mr. Hampton had extensive experience in the insurance industry, especially in property and casualty insurance. He managed the accounting and financial activities of captive insurance companies in Bermuda and Cayman Islands for Cigna Worldwide in New York, and was a supervisor in General Accounting with the American International Group (AIG).

Mr. Hampton has a BS degree in Accounting from North Carolina Central University and an MBA from St. Johns University in New York. He is a Certified Public Accountant (CPA) and Certified Financial Examiner (CFE).

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Larry Bruning
Chief Actuary
Kansas Insurance Department

Larry Bruning is Chief Actuary of the Kansas Insurance Department. He joined the department in June of 2003. He is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries.

Larry serves as Chair of the NAIC Life and Health Actuarial Task Force. He has also recently served as Vice-Chair of the American Academy of Actuaries Variable Annuity Life Practice Note working group. On October 3, 2007, Larry was elected to the Board of Directors of the American Academy of Actuaries to serve a 3 year term. Larry has made numerous presentations at Society of Actuaries and American Academy of Actuaries meetings. Larry teaches actuarial mathematics and statistics classes at Washburn University in Topeka, Kansas and has taught actuarial mathematics courses at the University of Nebraska, Lincoln and the University of Nebraska, Omaha.

Larry has 30 years of insurance industry experience working as an actuary.

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Peter S. Rice
Senior Counsel
Dewey & LeBoeuf LLP

Peter Rice has a broad range of experience handling a wide array of insurance regulatory matters. His experience includes transactional matters, licensing, corporate reorganizations, market conduct and other complex insurance regulatory issues. Representative assignments include the management buyout and subsequent IPO of Safety Insurance Company, the reorganization and voluntary dissolution of ManagedComp Insurance Company, representing FSA in connection with its interests as the principal creditor of Harvard Pilgrim Health Care in HPHC's receivership, and numerous Form A filings related to Massachusetts domiciled insurers. Mr. Rice also frequently handles legislative matters having successfully lobbied for reforms of Massachusetts' credit for reinsurance law and non-group health insurance law. Mr. Rice was First Deputy Commissioner of the Massachusetts Division of Insurance from 1987 to 1990.

Author
- "Twenty-Four Hour Coverage: A Consideration of the Issues," American Association of Preferred Providers
  Organization Journal; (November, 1993).

Co-author
- "The Property and Casualty Insurance Regulatory Matrix," The State of Insurance Regulation; ABA Tort and
  Insurance Practice Section, (© 1991).

Education - Boston University School of Law, 1980, J.D.
- St. Lawrence University, 1976, B.A.

Bar Admissions - Massachusetts

Court Admissions
- U.S. District Court, District of Massachusetts

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Understanding New Capital Reserve Requirements for the Life Insurance Industry
Speaker Firms:


D.C. Department of Insurance, Securities and Banking



Kansas Insurance Department