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Northstar Financial Services Ltd. Announces Additional Board Appointments

Northstar News

HAMILTON, Bermuda – September 5, 2013 – Northstar Financial Services Ltd., the Bermuda-based annuity and life insurance company that serves the specialized needs of global high net worth clients, announced today the appointment of Alan Morgan-Moodie and Will Rinehimer as independent directors to the Northstar Board.

“We are pleased to announce the appointment of Alan and Will to the Northstar Board,” said Gary Dombowsky, Northstar’s President.  “Their extensive industry relationships and deep knowledge of global insurance, reinsurance, capital markets and applicable regulatory matters will directly contribute to the Company’s long-term success.”

Alan Morgan-Moodie is currently the CEO of the Association of International Life Offices (“AILO”), the principal trade body of the offshore and cross border life insurance industry and has been actively involved with the financial services industry for over 40 years. After graduating from Dundee Institute of Art and Technology, he joined Abbey Life then Albany Life until 1986 when he relocated to the Isle of Man as the founding Managing Director of Albany International Assurance, now Canada Life International. He left Albany in 1992 to found Sun Life International. Since 1997 he has been a Director of Monarch Assurance PLC, a UK authorised life assurer and in 2004 became a Director of Global Life Assurance on the Isle of Man.  Alan has an honours degree in Engineering; holds the Investment Management Certificate and is a Chartered Member of the Chartered Institute of Securities and Investments.  He holds the Institute of Directors’ Diploma in Company Direction. He is a regulated person by the FCA in the UK; approved by the IPA in the Isle of Man and CIMA in the Cayman Islands.  He is also approved by the Cayman, Irish and Channel Islands Stock Exchanges.

Will Rinehimer has over 25 years of experience in the life insurance and reinsurance industries and currently serves as Chief Actuary and COO of Front Street Re. Front Street Re, comprised of Bermuda and Cayman Islands domiciled reinsurance companies, provides reinsurance primarily to the specialty insurance sectors of fixed, deferred and payout annuities. Front Street Re is a founding member of the Bermuda International Long-Term Insurers and Reinsurers association (“BILTIR”), an advocate for the Bermuda life insurance industry.   Will is a founding and current member of BILTIR’s board of directors.

Prior to Front Street Re, Will was formerly the Chief Financial Officer & Chief Actuary for Northstar Financial Services. He also served as President of ACE Tempest Life Re, a life reinsurance company assuming risks on asset-intensive products (group long-term disability, fixed annuities), mortality products (term insurance), and equity-based products (guarantees on variable annuities). Earlier in his career, Will was a consultant for Tillinghast (now Towers Watson), a world-wide actuarial consulting firm with a primary focus on M&A, pricing  and financial reporting for life insurance and reinsurance companies.

Mr. Rinehimer graduated from Pennsylvania State University with a Bachelor of Science in Mathematics and is a Fellow of the Society of Actuaries.