Seung-Won ("Sam") Lee
Summary
• Seasoned Property & Casualty Actuary with over 20 years in pricing, reserving, and risk modeling across primary insurance, reinsurance, and consulting
• Leadership & Collaboration: Proven ability to build high-performing, collaborative teams that drive innovation and results
• Analytical Problem-Solver: Known for delivering efficient, reliable solutions through strong analytical and problem-solving skills
Overview
35
35
years of professional experience
1
1
Certification
Work History
Director
KPMG Singapore
02.2024 - Current
- Providing actuarial audit support to the audit team for insurance, reinsurance and captive clients in ASEAN region for the group reporting, local reporting, IFRS 4 and IFRS 17 reporting.
- Collaborating with cross-functional teams to integrate sustainability considerations into business and decision making process.
- Developing climate risk quantification models in collaboration with climate scientists, leveraging the solid understanding of natural catastrophe risk models and technical analytical skills.
Actuarial Advisor, Principal
Samsung Fire & Marine Insurance
01.2023 - 12.2023
- Fostered actuarial capabilities and developed best practices in pricing and reserving for commercial lines and reinsurance business
- Provided strategic business insights and led pivotal special projects
- Conducted a loss trend study amidst a high inflation environment and crafted a technical pricing guide for global treaty reinsurance business.
General Manager, Head of Commercial Lines Actuarial Department
Samsung Fire & Marine Insurance
01.2015 - 12.2022
- Founded and steered a new actuarial department focused on commercial lines, providing extensive actuarial support in conducting insurance portfolio analysis, offering insights by lines of business and underwriting year as a foundational basis for steering business strategy
- Performed dynamic financial analysis crucial for optimizing reinsurance structures
- Provided support and audit functions for treaty reinsurance pricing
- Evaluated and managing natural catastrophe risk, incorporating catastrophe risk modeling
- Implemented IFRS17 for commercial lines business both in Korea and in overseas subsidiaries located in the UK and Singapore
- Served as Certifying Actuary and Chief Actuary for oversea subsidiaries in Singapore and UK, providing actuarial services including valuation of insurance contract liabilities and Own Risk and Solvency Assessment (ORSA)
Actuarial Director
Munich Re
08.2009 - 12.2014
- Oversaw reinsurance treaty pricing and provided technical pricing support for large commercial accounts in Canada
- Enhanced pricing tools and strategy through global collaboration within Munich Re Group
- Engaged in strategic discussions as a member of the Client Management Team, actively developing and reviewing niche commercial market opportunities through Managing General Agents (MGA)
- Prepared and presented regular management reports for underwriters and senior management
- Managed quarterly and annual reserving for Munich Re Canada, Temple Insurance and DAS Legal Insurance in Canada
- Coordinated Dynamic Capital Adequacy Testing (DCAT), Standardized Stress Testing, and Internal Target Ratio studies
- Provided essential actuarial support for regulatory and home office reporting
- Contributed to the development of the enterprise risk model
- Led and mentored actuarial team members, with a focus on performance management, recruitment, training, and personal development
Actuarial Consultant
JSCP
06.2007 - 08.2009
- Conducted comprehensive policy liability valuations and prepared Appointed Actuary's Reports with rigorous actuarial analyses for primary insurers and reinsurers in Canada, ensuring high quality and efficiency
- Orchestrated the entire DCAT process, from historical data preparation to adverse scenario projections, culminating in detailed DCAT reports
- Participated in M&A projects, contributing to the analysis of claim liabilities' fair value and assisting in the estimation of enterprise value under various scenarios.
Actuarial Consultant
Eckler Ltd. / Eckler ltée
09.2004 - 06.2007
- Engaged in diverse actuarial consulting tasks, covering pricing, reserving, and DCAT for primary insurance and reinsurance clients across Canada and Jamaica
- Played a key role in automobile pricing projects, executing comprehensive analyses, encompassing loss development, loss trend, rate on-leveling, and territorial assessments
- Clients included Facility Association and leading primary insurers
- Supported appointed actuaries in the valuation of policy liabilities, skillfully conducting actuarial analyses for claims and premium liabilities, and actively contributing to the entire DCAT process.
Actuarial Analyst
The Dominion of Canada General Insurance Company (Travelers Canada)
05.2001 - 09.2004
- Played a multifaceted role in the pricing of diverse insurance products, including private and commercial auto, personal and commercial property, and commercial liability
- Conducted preliminary rate analyses and effectively communicated findings to team leaders, contributing to vital rate change discussions with underwriters
- Skillfully prepared automobile rate filing submissions in compliance with guidelines, showcasing attention to regulatory detail
- Engineered and sustained actuarial software using VBA and Easytrieve, demonstrating proficiency in both modern and mainframe languages
Actuarial Assistant
The Dominion of Canada General Insurance Company (Travelers Canada)
09.2000 - 04.2001
- Extracted and reconciled data for actuarial analyses, ensuring accuracy and alignment with other data sources
- Streamlined the preparation of periodic loss experience summaries using VBA, enhancing efficiency
- Maintained and organized various monitoring reports and exhibits for management, demonstrating attention to detail and commitment to clear communication.
Actuarial Assistant
The Dominion of Canada General Insurance Company (Travelers Canada)
01.2000 - 04.2000
- Same as above.
Sales Engineer
Kolon Industries, Inc
12.1993 - 12.1996
- Specialized in the process of polymerization and engineering of nylon synthetic fiber
- Provided consulting service, through technical expertise, to clientele
Sergeant
Korean Army
01.1990 - 04.1992
- Served in the army for 27 months.
Education
Bachelor of Science - Chemical Engineering
Sogang University
Seoul, South Korea02-1994
Continuing Education - Actuarial Science
University of Toronto
Canada2001
Continuing Education - Actuarial Science
University of Waterloo
Canada1999
Skills
- Insurance Contract Liability Valuation
- Insurance and Reinsurance pricing
- Insurance Portfolio Analysis
- Financial Analysis & Capital Modeling
- Financial Reporting
- Risk Modelling
Certification
- Fellow of the Casualty Actuarial Society (FCAS) - Casualty Actuarial Society
- Fellow of Singapore Actuarial Society - Singapore Actuarial Society
Timeline
Director
KPMG Singapore
02.2024 - Current
Actuarial Advisor, Principal
Samsung Fire & Marine Insurance
01.2023 - 12.2023
General Manager, Head of Commercial Lines Actuarial Department
Samsung Fire & Marine Insurance
01.2015 - 12.2022
Actuarial Director
Munich Re
08.2009 - 12.2014
Actuarial Consultant
JSCP
06.2007 - 08.2009
Actuarial Consultant
Eckler Ltd. / Eckler ltée
09.2004 - 06.2007
Actuarial Analyst
The Dominion of Canada General Insurance Company (Travelers Canada)
05.2001 - 09.2004
Actuarial Assistant
The Dominion of Canada General Insurance Company (Travelers Canada)
09.2000 - 04.2001
Actuarial Assistant
The Dominion of Canada General Insurance Company (Travelers Canada)
01.2000 - 04.2000
Sales Engineer
Kolon Industries, Inc
12.1993 - 12.1996
Sergeant
Korean Army
01.1990 - 04.1992
Bachelor of Science - Chemical Engineering
Sogang University
Continuing Education - Actuarial Science
University of Toronto
Continuing Education - Actuarial Science
University of Waterloo
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