Over the past several years, Steve has advised insurance companies, banks, and financial guarantors on capital market securitizations and private structured transactions relating to reserve redundancies (e.g., Regulation XXX and Guideline AXXX), embedded values (including closed blocks), mortality catastrophe bonds, and longevity transactions. Steve also has experience in demutualizations, mutual holding company conversions, mutual-mutual mergers, mergers and acquisitions, reinsurance, and New York regulatory matters. He worked in Milliman’s Tokyo office from 1995 to 1998 and continues to work on projects in Japan and in other international markets.