Biographies
Jonathan Broughton, FIA - Director
Jonathan read Physics at Birmingham University, graduating with a first class degree in 1992. Following graduation, he began his actuarial career in the pensions arena, working for a DSP, a small firm specialising in IT consultancy.
In early 1995 Jonathan joined The Corporation of Lloyd’s to work on the Equitas Project. The actuarial team had a quality assurance role, working alongside and peer reviewing the work of the numerous actuarial firms and managing large teams of computer programmers. Jonathan was a member of the Reserving Group, a collection of Market Leaders who oversaw all aspects of the Reserving process.
Equitas Limited was formed in October 1996 and Jonathan left Lloyd’s to join the Reserving and Commutations team. Jonathan qualified as an actuary in 1998 and became Deputy Chief Actuary in 2001.
Jonathan joined the London Market team of EMB in April 2005 as a consultant actuary and was appointed as a Director in May 2006. Since joining EMB he has worked across a wide range of projects, usually in a lead-role capacity, including:
• Reserving – for both live and legacy businesses, covering a wide range of business classes.
• Legacy business strategy – particularly in relation to US APH, UK asbestos, sexual abuse, industrial diseases and the evaluation of outwards RI collections
• Merger and acquisition due diligence assignments – both live and legacy business.
• Outwards reinsurance optimisation – assisting a client with the design and purchasing of their reinsurance programme.
• Pricing excess of loss reinsurance treaties – in parallel with in-house pricing actuarial team when work volumes high.
• Individual Capital Assessment – development of a new fully dynamic model for a large direct-writing Lloyd’s syndicate and a large Middle Eastern reinsurer.
• Commutation assistance.
• A variety of solvent scheme work, including assisting a creditor with a submission that went to adjudication.
• Advising on management information systems.
Jonathan has 10 years of APH experience, which included developing and implementing Equitas’ US asbestos direct and pollution direct reserving methodologies, working closely with the Claims Director and his department and lawyers. This was an integral part of Equitas’ policy-buy back strategy. Jonathan also developed and implemented Equitas’ US APH inwards reinsurance reserving methodology, again working closely with the Claims Department and lawyers and led various commutation negotiations with large insurance companies.
Jonathan has worked on a number of Institute of Actuaries Working parties, including an award-winning paper “The Cost of Compensation Culture”, “APH Reserving” and “Aviation Pricing”. He is currently participating in the “Risk Margin” Working Party. Jonathan has written various trade articles and has recently spoken at conferences around the world including London (Reserving / Commutations / Legacy exit strategies), India (Reserving techniques) and Dubai (Reinsurance purchasing).