NASW Risk Retention Group Rated Excellent in Financial Strength

NASW RISK RETENTION GROUP

Ahmed Shaher, FSA, MAAA

Ahmed Shaher
Mr. Ahmed Shaher, FSA, MAAA, is enthusiastic about volunteering his time and offering his significant insurance expertise to benefit the NASW Risk Retention Group, its policyholders and programs.

With more than 30 years of experience working in insurance and as an Actuary for Fortune 500 and major insurance companies Symetra Life Insurance Company, American International Group (AIG), The Hartford Life Insurance Company, United Healthcare Corporation, Metrahealth Corporation, Travelers Insurance Corporation, and Cigna Corporation, Mr. Shaher offers significant experience and understanding to overseeing the complex insurance, financial, and regulatory matters of a strong and growing NASW Risk Retention Group.

Mr. Shaher currently resides in South Windsor, CT where he actively volunteers in his community, serving on the Tunxis Community College Foundation Board of Directors to raise funds for student academic and needs scholarships; Connecticut Special Olympics volunteer fundraising efforts; and the Lions Club of South Windsor focused on serving the community, meeting humanitarian needs, encouraging peace and promoting international understanding. In addition to work and volunteering, he enjoys spending time with his wife and daughter, bicycling, golf, family, sports, dogs and travel.

Currently at Symetra Life Insurance Company, Mr. Shaher serves as Vice President and Senior Actuary, Life, Disability and Select Benefits / Benefits Division, responsible for the pricing and financial support for an over $200 million in Life, Accidental Death & Dismemberment, and Disability program business, and for developing and maintaining pricing models, sales, expense, and profit and loss planning.

At American International Group (AIG), Mr. Shaher worked extensively in association affinity group insurance program management and pricing , serving as Senior Vice President, Actuary and Head of US Group Life Product and Design; as Vice President and Actuary of Affinity Products (Market Segment); and as Vice President and Actuary of Affinity Markets. In these roles, his responsibilities included product management, product development, financial underwriting, pricing, and oversight for the more than $300 million in Employer, Affinity, and Worksite segment business; managing the Association Group Affinity Segment pricing which included managing a team with complete actuarial oversight of a large variety of group, life, health, and disability insurance programs. Among his many accomplishments, he authored successful growth strategies and implemented process efficiencies and customized processes, pricing and products in response to the Affordable Care Act (ACA).

At The Hartford Insurance Company, Mr. Shaher served as Assistant Vice President and Actuary of Life / Retiree Health / Retention Pricing within the Group Employer Markets; as Interim Leader / Assistant Vice President of Group Reinsurance Plus Operation; as Assistant Vice President and Chief Actuary of Group Specialty Markets; as Director of Actuarial and Underwriting of Group Association/Affinity; and as and Director of Actuarial of Group Employer Markets, Disability Pricing. In these roles, Mr. Shaher worked extensively with association affinity insurance programs and was responsible for the management and complete actuarial oversight of a wide range of group life, health, and disability insurance programs representing hundreds of millions to $2 billion in premium. While in his reinsurance role, he oversaw sales, account management, financial reporting, underwriting, actuarial analysis, claims and compliance with reporting relationships for the reinsurance operations unit assuming the risk for the group insurance programs.

He also championed key initiatives to ensure sound, viable insurance programs and improve profitability, including work on pricing and underwriting improvements, and was recipient of The Hartford’s President’s award for financial turnaround of the business unit. He created pricing for a number of new products including, Group Critical Illness, Group Ten Year Level Term Life, Hospital Short Term Recovery, and Senior Term Life.

At United Healthcare Corporation, Metrahealth Corporation, Travelers Insurance Corporation, Mr. Shaher served as an Actuary, for the Delivery Systems Management team overseeing the national health plans, and Senior Actuarial Assistant, within Managed Care Network Analysis and Support, where his actuarial efforts resulted in major enhancements in methodologies and financial achievements including savings of over $1 million in two years.

At Cigna Corporation, Mr. Shaher served as Actuarial Assistant, Group Financial, for the Group Indemnity Operation; Actuarial Assistant for CIGNA Reinsurance, and Actuarial Analyst, Individual Financial, focused on the individual life and health operations.

Mr. Shaher holds a Fellowship in the Society of Actuaries, and professional memberships in the Society of Actuaries, American Academy of Actuaries, and Professional Insurance Marketing Association.

Mr. Shaher received his B.S. in Applied Mathematics (Operations Research Track) with a double major in Industrial Management from Carnegie Mellon University.