Israel Bonds’ Annual Insurance Division Luncheon Results in $55.5 Million in Investments
Development Corporation for Israel/Israel Bonds, the underwriter of debt securities issued by the State of Israel in the United States, held its Insurance Division Luncheon this month. The annual event drew more than 250 industry professionals to the St. Regis Hotel in New York, and brought in $55.5 million in Israel bond investments and indications to invest.
Distinguished guests included the Honorable Robert Abrams, former attorney general of New York, and Ambassador Dani Dayan, consul general of Israel in New York. The event honored two industry leaders: Mary A. Griffin, president & CEO of the Life Insurance Council of New York (LICONY) and Michael Ferik, executive vice president and chief financial officer of The Guardian Life Insurance Company of America. Both received the 2017 Israel Bonds Insurance Division Leadership Award.
Griffin oversees LICONY’s operations and works directly with the LICONY board of directors to develop and guide the strategic mission of the organization. She joined LICONY in April 2016, and spearheaded the reorganization of the association, consolidating operations in Albany, reducing association expenses and providing LICONY members with their first-ever dues reduction.
Prior to joining LICONY, Griffin served as a Senior Vice President with Citigroup’s government affairs department where she had responsibility for developing and managing Citi’s legislative and regulatory strategy in New York in areas such as tax policy, mortgage lending and retail banking. Her insurance career includes representing the interests of the American Insurance Association before the New York state legislature, as well as service on the Department of Insurance and Workers Compensation Board.
Ferik leads the financial, risk, actuarial and internal audit functions at Guardian. This includes planning and reporting, tax, capital management, risk management, actuarial, treasury, and banking and ratings agency relationships. Previously, he led Guardian’s Individual Markets organization, where he integrated the business with a deliberate focus on securing the future of agency distribution while delivering differentiated client value.
Ferik joined Guardian in April 2009 following tenure with AXA Equitable, where he held the position of Senior Vice President & Head of Life Practices. His past experience includes working as an associate with McKinsey and Co., as Vice President and actuary with Manulife in Singapore, and as an actuary with Manulife in its U.S. Life division. He is a member of the LICONY board and the LIMRA board of directors.
Since its founding in 1951, worldwide sales of Israel Bonds have surpassed $40 billion. For the first time this year, through a new Israel Bonds’ initiative, investors have demonstrated their support by donating Israel bonds to the universities of their choice, including schools from which they graduated, or those that their children or other family members attend.
