Stephen Johnson of Stradley Ronon
Named AIRROC Person of the Year for 2017 

New Jersey, October 16, 2017

The Association of Insurance and Reinsurance Run-Off Companies (AIRROC) has named Stephen Johnson of Stradley Ronon Stevens and Young as the winner of the 2017 Person of the Year award. 2017 marks the 13th year that AIRROC has bestowed this annual award.

The award was presented to Steve on October 16 at AIRROC’s 13th annual Commutations and Networking Forum in New Brunswick, NJ. This award is presented each year to recognize individuals who have had significant impact on the run-off industry.

In presenting the award, Katherine Barker, the immediate past AIRROC board co-chair, acknowledged Steve’s credentials and significant experience. “This award was created so that AIRROC can give recognition to someone that has had an impact in the legacy sector of the insurance industry. This year’s award winner -- as described by their nominator -- is someone known for their abilities to balance market and administrative solutions that resulted in more efficient mechanisms to wind down estates to the benefit of policyholders and taxpayers,” said Barker.

Steve has over 30 years of experience in the industry in many roles: he began his career as an auditor, served as the Chief of Financial Analysis Division of the Office of Corporate and Financial Regulation, as the Director of the Bureau of Financial Examinations, and ultimately as the Deputy Insurance Commissioner for the Pennsylvania Insurance Department.

During his years working in the run off areas as a regulator, Steve worked on the run offs of Philadelphia Reinsurance Company, the division of Cigna Property and Casualty and the creation of the run off Brandywine Holdings, approved R&Q and Armour as new run off management owners in the United States for the first time and the spinoff of Conseco’s long-term care obligation to Senior Health Insurance Company of Pennsylvania. Steve continues advising run off companies in his new role as an insurance consultant at Stradley Ronon, to manage both business and regulatory matters.

In his acceptance speech, Steve discussed the importance of run offs as a more efficient matter to deal with legacy liabilities than an insurance company receivership. He also acknowledged the AIRROC scholarship recipients and the importance of bringing young professionals into the industry. He highlighted the importance of AIRROC’s role in the industry -- the organization provides important opportunities for individuals to make the connections needed to get their jobs done.

AIRROC congratulates Steve on the award and for having the professional expertise and creativity in becoming a model for efficient and equitable ways to resolve complex issues. Ernst & Young sponsored the award.

The past recipients of the AIRROC award include: William Flaherty (2016); The Reliance Team (2015); Anna Petropolous (2014); Karl Wall (2013); Robert Sherwood (2012); Gary Lee and Andrew Rothseid (2011); Mindy Kipness (2010), Barbara Murray (2009), Dan Schwartzmann (2008), Brian Snover (2007), Oliver Horbelt (2006), Paul Dassenko (2005).

AIRROC’s vision is to be the most valued (re)insurance industry educator and network provider for issue resolution and creation of optimal exit strategies. AIRROC’s mission is to promote and represent the interests of entities with legacy business by improving industry standards and enhancing knowledge and communications within and outside of the (re)insurance industry.

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Contact information:
Carolyn W. Fahey, Executive Director
AIRROC: 703-730-2808
carolyn@airroc.org