Owen M. Gleeson  FCAS, MAAA
Consulting Actuary
Owen.Gleeson@MBAActuaries.com
(973)335-6448

Owen Gleeson earned Bachelor of Arts and Masters of Science (Research) degrees in Mathematics from St. Louis University. He subsequently was awarded a Ph.D. in Mathematics by St. Louis University in 1971. From 1961 to 1971, he taught mathematics at various colleges and universities. His teaching career began at St. Louis University. He subsequently held a position as Mathematics Instructor at the University of Missouri at St. Louis. His next and final teaching position was at Parks College of Aeronautical Technology located in Cahokia, Illinois where he held the position of Assistant Professor in the General Sciences Department until 1971.

In 1972, Mr. Gleeson joined the United States Fidelity and Guarantee as an Actuarial Assistant. He was assigned to the Corporate Actuarial Department where he developed methods for reserving for allocated loss adjustment expenses and IBNR. His duties included a number of other Corporate Actuarial activities including actuarial work for the Workers Compensation Reinsurance Bureau and reserving for individual serious workers compensation claims. In 1980 he founded the Financial Planning Department. The duties included issuance of pro-forma financial statements illustrating the impact of corporate strategies, maintaining the company budget system, analysis of the impact on taxes of various strategies, maintaining and refining a corporate model, and advising the Investment Department concerning probable future cash flow amounts. He earned the ACAS and FCAS designations from the Casualty Actuarial Society in 1975 and 1978, respectively during his tenure at USF&G.

In 1984, he joined General Reinsurance and worked in the Financial Reinsurance Underwriters subsidiary. His duties included design of financial reinsurance treaties, analysis of commutations and finally evaluation of the impact of the Tax Reform Act of 1986 on General Reinsurance and property/casualty companies in general. He co-authored a Casualty Actuarial Society Call Paper on that subject with Jerry Lenrow and also published a two-part article on this subject in Best’s Review with the same individual.

In 1987 Mr. Gleeson together with his partner, Phillip Cheng, founded Financial Analysis and Control Systems. FACS, Inc. was founded to develop and market a model of property/casualty companies operating under the Tax Reform Act of 1986. The model found widespread acceptance and use being purchased by approximately 75 companies. These included not only small to medium size companies but also three of the five largest property/casualty companies in the United States. FACS, Inc. subsequently evolved into an actuarial consulting firm.

From 1994 to 1996, Mr. Gleeson served as the Chief Actuary of TIG Reinsurance Company. He returned to FACS, Inc. in mid-1996 and has operated this company as a consulting company with clients who would serve as sole engagements. During this period he provided support to a finite reinsurance broker and later supported an excess workers compensation MGA for three years. He also testified on behalf of both Utah Medical and PIC Wisconsin (two medical malpractice companies) in disputes with the Internal Revenue Service.

Mr. Gleeson has delivered presentations on a variety of subjects to many audiences. He has also written several papers including, “Ratemaking for Excess Workers Compensation Insurance” and “An Analysis of the Impact of the Tax Reform Act on the Property/Casualty Industry.”