Profile
Gary Blumsohn
Current Employment
  • Company:
    Arch Reinsurance Company
  • Position(s) and Responsibilities:

    Executive Director – Underwriting and Actuarial.
    Was the Chief Actuary from 2002 – 2017.
    Ran the Claims and IT Departments 2009 to 2014.

  • Address:
    19 Curtis Ave
    West Orange, NEW JERSEY 07052 United States
  • Phone:
    973-868-5847
  • Cell:
    973-868-5847
  • Email:
Previous Employment
  • Company:
    St. Paul Re (1998 - 2001)
  • Position(s) and Responsibilities:

    Actuary and underwriter in the Non-Traditional Underwriting unit.

  • Company:
    Liberty Mutual Insurance (1993 - 1998)
  • Position(s) and Responsibilities:

    Actuarial positions in the Corporate Actuarial Department and the Commercial Actuarial R&D Unit.

  • Company:
    Prudential Reinsurance Company (1990 - 1993)
  • Position(s) and Responsibilities:

    Reinsurance pricing and reserving.

Credentials
  • Attorney:
    No
  • Degrees:
    Bachelor of Economic Science (University of the Witwatersrand, Johannesburg, South Africa)
    Ph.D. in Economics (NYU)
  • Designations:
    Fellow of the Casualty Actuarial Society
    Chartered Enterprise Risk Analyst
  • Languages:
    English
Work Experience
  • Insurance Company: 5 years.
    Actuarial Department: 5 years. Corporate Actuarial Department; Actuarial R&D Unit, responsible for Reinsurance and Property
  • Reinsurance Company: 26 years.
    Underwriting Department: 3 years.
    Executive Officer (CEO, COO, CFO, Chief Actuary): 16 years. Chief Actuary
    Actuarial Department: 7 years.
Breakdown of Experience
  • Workers' Compensation
    15%
  • Finite
    15%
  • Professional Liability/Errors &, Omissions
    10%
  • MGA/MGU
    10%
  • Automobile Liability/Property
    10%
  • Directors &, Officers
    8%
  • Commercial Liability
    8%
  • Catastrophes (Casualty)
    5%
  • Catastrophes (Property)
    5%
  • Commutations
    5%
  • Commercial Property
    3%
  • Contract Wording
    2%
  • Aviation
    2%
  • Excess/Surplus Lines
    1%
  • Fidelity &, Surety
    1%
By Market
  • U.S. Market:
    100%

Insurance vs. Reinsurance: 10/90%
Treaty vs. Facultative Reinsurance: 95/5%
Current Insurance or Reinsurance Company Officer
Current Insurance or Reinsurance Company Director

Biography

Gary Blumsohn is an actuary with over 30 years of experience in property and casualty insurance and reinsurance. He served as the Chief Actuary of Arch Reinsurance Company from 2002 to 2017 and currently holds an actuarial and underwriting oversight role. He also ran the Claims and IT Departments for 5 years.

He has been involved in underwriting reinsurance treaties both at Arch Re, and in his previous job at St. Paul Re, where he underwrote and priced contracts in the Non-Traditional Underwriting unit, including loss portfolio transfers and aggregate stop losses. He has priced hundreds of reinsurance treaties with most emphasis on D&O, E&O, umbrella, general liability, auto liability, trucking, workers' compensation, and property. As chief actuary, he oversaw the loss reserving on the business, as well as interacting with insurance regulators, auditors, and external actuaries. He regularly participates in underwriting and claim audits, mostly on long-tail casualty business.

He has been involved in dozens of reinsurance commutations, both as a cedent and as a reinsurer, and published an award-winning paper on workers’ compensation reinsurance commutations. He has regularly been involved in reviewing large and significant claims, especially those where modeling and projections have been needed in anticipation of settlement.

He is a Fellow of the Casualty Actuarial Society, a Certified Enterprise Risk Analyst, and has a PhD in economics from NYU, where his dissertation was about on how passing time and changing knowledge affect damages in tort and securities law.