Kamen Joins ALIC Board of Governors

Mr. Mark Ross, Chairman of the Board of Governors and Chief Executive Officer of the American Life Insurance Congress (ALIC or the Congress) and Chairman, President and Chief Executive Officer of Mark Ross and Co., Inc. announced today, on behalf of the entire Board that Mr. Harry P. Kamen, formerly Chairman and Chief Executive of the Metropolitan Life Insurance Company has been elected to the Board of Governors of the Congress.

Both Peter Molinaro, the ALIC President and Chief Operating Officer and Mr. Ross “welcome Harry and his unique skill sets and experience base to the talented, energetic and diverse Board where he will blend his extraordinary knowledge of the traditional life insurance business with the Board’s mandate to envision the convergence requirements of the 21st Century where risk management and capital markets are gradually becoming indistinguishable in many respects and where existing regulatory, legislative, and carrier and distributional platforms that worked well in the past may need serious reexamination. It is a time when a growing secondary market and new premium financing techniques are being tested and appear to be fast becoming a permanent fixture in the marketplace.” Mr. Ross continued that, “movements to federalize the traditionally state regulated insurance industry are gaining traction and the various industry constituencies are searching for a unifying force to objectively but knowingly analyze and catalogue the various options and help lead toward optimum selections and lobby for their adoption.” Mr. Ross and Mr. Molinaro continued, “We have all known and respected Harry for decades and are thrilled and a bit relieved to have his penetrating intellect, strong moral compass, kinetic energy and unerring judgment in the
service of the industry to which he and the rest of the Board and much of the senior membership have devoted their professional careers.

Mr. Kamen, who served as Chairman and Chief Executive Officer of the Metropolitan Life Insurance Co. from 1993 – 1998 has also lead the insurance industry in many capacities throughout his career. Formally General Counsel of Met, he led the movement to protect bond holders against a degradation in the value of their holdings due to event risks such as leverage buyouts. Mr. Kamen continued on the Board until April 2007. He is a Past President of the Life Insurance Council of New York (LICONY). Among Mr. Kamen’s current nonbusiness activities, he serves on the Boards of The New York Botanical Gardens, The Chamber Music Society of Lincoln Center, Guild hall of East Hampton and the Advisory Boards of Common Good and the American Museum of Industrial History. He is also Trustee Emeritus of Smith College and a Senior Member of the Conference Board. Throughout his career and at different times, Mr. Kamen has served on the Board of the Metropolitan Life insurance Company, Bethlehem Steel, Carnegie Hall, the Jewish Museum and is an Honorary Trustee of the American Museum Natural History. He was also a trustee of Smith College, the Mailman School
of Public Health at Columbia University. Mr. Kamen is currently a trustee of the Cultural Institution Retirement System. He was co-author of the leading subject matter text, The Insurance Law of the State of New York and the Commentaries on Debentures and Indentures.

According to Mr. Ross, Harry Kamen’s election to the Board of Governors reflects the aggressive, systematic and intense interest of Congress management to attract the very best talent possible to manage the extraordinary challenges that it fully understands and appreciates. According to Mr. Molinaro, “As the new world of financial insurance governance is approached by a variety of entities in the regulatory and legislative
areas—including the Governor’s newly appointed commission to reform financial services regulation—ALIC’s diversity of membership, commitment to quality, and singular breadth of vision for the financial services industry will enable this innovative organization to become an indispensable source and voice on the important financial issues of the day.”

Other members of the Board of Governors include: Honorable Mr. Peter Molinaro, formerly Senior Deputy Superintendent of the New York State Insurance Department and is currently President and Chief Operating Officer of ALIC as well as Managing Director of Mark Ross & Co., Inc, Lt. Gen. Martin R. Steele (Retired), formerly Deputy Chief of Staff for Plans and Operations, United States Marine Corps., Mr. James Rhodes, President of San Pasqual Trust Company, Mr. Gary Brecka, President of the Life Asset Group, Honorable Gregory V. Serio (formerly Superintendent of New York State Insurance Department), serves as Senior Counselor to the Office of the Chairman of the ALIC, which includes its top executive officers.

For further information contact Mr. Mark Ross, the ALIC Chairman and Chief Executive Officer at 212 355 5566, x323 or email: .(JavaScript must be enabled to view this email address), or the ALIC President and Chief Operating Officer, Mr. Peter Molinaro at 212 355 5566, x329 or email: .(JavaScript must be enabled to view this email address). As an alternative, please register your interest with Magda Binion, Executive Assistant to the Chairman and President at 212 355 5566, x451 or email: .(JavaScript must be enabled to view this email address).