Fed announces seven-member Insurance Policy Advisory Committee, with three new members

The Federal Reserve Board announced seven members for its Insurance Policy Advisory Committee (IPAC) Thursday, three of them new and all of them set to begin three-year terms beginning in 2021.

Thursday’s list of seven members is winnowed down greatly from the list of 21 inaugural members announced in October 2019.

The IPAC, established by the 2018 Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA), provides information, advice, and recommendations to the Fed Board on domestic and international insurance issues. Inaugural members began serving staggered terms ranging from one to three years. Four have been reappointed, and all seven will begin three-year terms next year.

IPAC members have expertise in life insurance, property and casualty insurance, and reinsurance, and have professional backgrounds in insurance accounting, actuarial science, academia, insurance regulation, policyholder advocacy, capital markets, and other areas.

New members announced Thursday include Shweta Jhanji, senior vice president and treasurer of Ameriprise Financial; Bryan Pickel, vice president and head of international regulatory affairs for Prudential Financial; and Sarah Williams, managing director and head of enterprise risk management for Global Atlantic Financial Company.

Those reappointed include John Bruno, executive vice president, general counsel, secretary and chief human resources officer for The Auto Club Group; Bridget Hagan, partner and head of insurance practice group for The Cypress Group; Aaron Sarfatti, chief risk officer at AXA Equitable Life; and Halina von dem Hagen, global treasurer and head of capital management for Manulife.

Federal Reserve Board announces members of its Insurance Policy Advisory Committee