Mr. Donald A. McIsaac
Lead Insurance Specialist, FSOPD
World Bank
1818 H Street, NW
Washington, DC 20433

Don McIsaac joined the Financial Sector Operations and Policy Department of the World Bank in August 1993 as Senior Insurance Specialist. Assignments with the Bank have involved the promotion of private insurance and pension industries in client countries as well as the reform of social security systems. To achieve these purposes, he has participated in dialogue with policymakers in the countries and provide technical assistance in order to upgrade the regulatory framework as well as advice on organization, staffing and training of supervisory organizations. The work also involves the preparation of best practice documents and the conduct of seminars and training courses for the guidance of Bank staff as well as officials in client countries who are engaged in these fields.

Before joining the World Bank, Don spent over thirty years in the insurance and pension business in North America, a good part of it as an official with the federal supervisor of insurance and pensions in Canada. He served as Director General in charge of supervision of life insurance companies in Canada for a period of 15 years. For part of that time, he was Acting Deputy Superintendent of Financial Institutions for Canada, with responsibility for supervision of private pension and insurance activities of all types. Professional activities included extensive participation in the work of the Canadian Institute of Actuaries. During the period of time he spent with the Canadian insurance authorities, he was closely involved with the development of a number of important initiatives, such as the MCCSR, a risk-based test for solvency; the introduction of a series of early-warning tests to be used by supervisors; and the establishment of the insurance company policyholder compensation programs. Don was also asked to take part in international discussions organized under the auspices of the BIS to review the issues related to supervision of financial conglomerates. Don’s prior experience includes 6 years as an actuary in private insurance firms located in Canada and the USA.

Insurance sector assignments with the World Bank have included Mexico and Argentina where major Bank projects dedicated to development of the insurance sector were organized. Don has also worked on strengthening insurance sector and the related regulatory/supervisory framework in the Philippines and Korea. Don’s assignments in the support of World Bank efforts in the insurance sector have led him to review the insurance industry in more than 20 countries in various parts of the world.

Mr. McIsaac is a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries. He is also a Member of the American Academy of Actuaries.