Timothy Gasaatura, FSA, MAAA

Chief Actuary at Oceanview Reinsurance Ltd.
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Contact Information
us****@****om
(386) 825-5501
Location
United States, US

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Experience

    • Bermuda
    • Insurance
    • 1 - 100 Employee
    • Chief Actuary
      • Mar 2023 - Present

      Oversight of Oceanview Re's actuarial function Oversight of Oceanview Re's actuarial function

    • United States
    • Financial Services
    • 700 & Above Employee
    • Chief Risk Officer for Institutional Markets and Life & Retirement Strategy
      • Sep 2022 - Mar 2023

      Supported the development and implementation of enterprise-wide initiatives across the Life & Retirement (L&R) Strategy area and the Institutional Markets businesses. Managed the execution and compliance of Institutional Markets and L&R Strategy with the Corebridge Risk Governance Framework. • Improved strategic decision-making by supporting the enhancement, use, and evolution of the economic view of the business, including refinements to the methodology, models, and assumptions. • Safeguarded the appropriate implementation of US GAAP Long-Duration Targeted Improvements (LDTI) accounting changes. • Ensured adequacy of risk adjusted pricing through independent review and challenge of material pension risk transfer transactions. Show less

    • United States
    • Insurance
    • 700 & Above Employee
    • Chief Risk Officer for Institutional Markets and Life & Retirement Strategy
      • Aug 2021 - Sep 2022

      • Support the development and implementation of enterprise-wide initiatives across L&R strategic area including mergers, acquisitions, ceded and assumed reinsurance, and the Institutional Markets’ businesses from end-to-end. • Support the enhancement, use and evolution of the economic view of the business, including refinements to the methodology, models and assumptions that improve strategic decision-making. • Manage execution and compliance of AIG IM and L&R Strategic area with AIG L&R Risk Governance Framework. Show less

    • Chief Actuary
      • Apr 2019 - Aug 2021

      Collaborated with third party underwriters to evaluate various reinsurance and acquisition transactions. Provided the board and shareholders with independent assessment of potential transactions as well as the company’s embedded value. Engaged with external parties to promote Langhorne as a reinsurer of large asset intensive legacy. • Enhanced the risk and governance framework of the organization. • Assisted in Langhorne’s achievement as an approved reinsurer with a large external insurer. Show less

    • United States
    • Insurance
    • 700 & Above Employee
    • Fortitude Re Chief Risk Officer / AIG Bermuda Risk Officer
      • Dec 2014 - Apr 2019

      Directed the identification and assessment of strategies that optimized financial performance within the constraint of the risk appetite and available capital. Supported the Enterprise Risk business management in identifying, assessing, managing, and monitoring all relevant risks in the LAC region. Effectively managed a diverse group across multiple different countries, including Mexico, Brazil, and Argentina. • Increased dividend capacity by partnering with senior management to analyze transactions to optimize with use of AIG capital. • Established the risk and governance framework of newly established reinsurer, Fortitude Re. Show less

    • United States
    • Financial Services
    • 700 & Above Employee
    • Senior Actuary and Risk Officer
      • Mar 2012 - Dec 2014

      Guided timely and accurate implementation of the Bermuda rules and regulations applicable to the Bermuda companies, working internally with Business Units and Corporate to manage the risks within the Bermuda companies, and taking ownership around risk frameworks. • Enhanced risk identification, monitoring, and improved board reporting on risk and capital by strategically implementing robust risk management framework, ensuring corporation was adequately compensated for the risk it was assuming. • Optimized tax structure benefits by strategically analyzing transactions with global entities to release distributable earnings. Show less

    • Business Consulting and Services
    • 700 & Above Employee
    • Senior Consultant
      • May 2010 - Mar 2012

      Facilitated the implementation of infrastructure to support reporting of Solvency II capital to a client's parent company in Europe. Worked with clients to develop an approach for capturing and reporting actuarial model output to meet reporting timelines, analyzing, and providing feedback on the appropriateness of the methodology for US business, and validating output from the client’s internal capital models. • Delivered valuable quarterly actuarial audit of variable annuity products for a global reinsurer. • Provided Solvency II technical knowledge and insights, specifically related to longevity, mortality, morbidity, and market risks. Show less

    • Insurance
    • 700 & Above Employee
    • Life Actuary
      • Jul 2009 - May 2010

      Performed routine liability evaluations and attribution of in-force variable annuity block currently reinsured to understand drivers of the change as well as discuss capital market solutions. Evaluated GAAP and Statutory impact of various short term static hedging solutions. • Collaborated with senior management to better understand the impact of proposed regulation by the Bermuda Monetary Authority on capital and Solvency II standards. • Ensure adherence to internal and external audit standards by creating an independent verification tool in order to validate actuarial models and ensure treaty language is implemented as stated. Show less

    • United States
    • Financial Services
    • 700 & Above Employee
    • Actuarial Consultant
      • Mar 2005 - Jul 2009

      Performed quarterly profitability analysis of domestic variable annuities and explain variances between pricing and actual profitability estimates to senior management. Collaborated external reinsurance partners and banks to structure and value various hedges and reinsurance transactions to manage GAAP and Statutory volatility. • Significantly reduced operations risk by creating simplified model to identify IT software and pricing discrepancies. • Partnered with investment actuaries to ensure execution of trades necessary for the daily hedging of embedded risks in liability portfolio of variable annuities with living benefits. • Determined costs and benefits of recapture resulting from raising retention limits through periodic analysis of current and historical mortality rates as well as treaty provisions. • Collaborated on the domestic and international variable annuity product development, including conceptualization, pricing, and pitching to internal and external stakeholders. Show less

    • United Kingdom
    • Software Development
    • 400 - 500 Employee
    • Actuarial Analyst
      • Jun 2004 - Mar 2005

      • Creation and maintenance of a Medical Risk Analysis tool used by both underwriters and nurses to perform quantitative assessment of risk. • Ensure accuracy of quarterly reporting by validation of monthly claims to IBNR. • Creation and maintenance of a Medical Risk Analysis tool used by both underwriters and nurses to perform quantitative assessment of risk. • Ensure accuracy of quarterly reporting by validation of monthly claims to IBNR.

    • United States
    • Hospitals and Health Care
    • 700 & Above Employee
    • Actuarial Intern
      • Apr 2003 - Apr 2004

      • Periodic analysis of monthly incurred medical cost and drug trend analyses to determine and explain utilization drivers. • Calculation of monthly reserving cost for both Large and Small Groups. • Periodic analysis of monthly incurred medical cost and drug trend analyses to determine and explain utilization drivers. • Calculation of monthly reserving cost for both Large and Small Groups.

Education

  • University of Arizona
    Master of Legal Studies
    2021 - 2022
  • Georgia State University - J. Mack Robinson College of Business
    Master of Science, Actuarial Science
    2002 - 2004
  • Makerere University
    Bachelor of Science, Mathematics and Computer Science
    1999 - 2002
  • King's College, Buddo
    1997 - 1998

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