Alexander T. Farley with over 30 years of diverse industry experience is a Senior Advisor of Hannover Stone Solutions, LLC. providing tailored solutions concerning enterprise risk management (ERM) and ORSA compliance capabilities for property/casualty and life/health insurers as well as managed care organizations. Alec is also the President and CEO of American Insurance Management Group, Inc. (AIM), which he founded in 1990 specializing in helping regulators and management with solvency and compliance challenges.
Mr. Farley has recognized skills in executive management, governance, strategic planning, ERM, ORSA/statutory compliance, financial restructuring, reinsurance, company infrastructure, and marketing. He has recognized expertise in facilitating regulators and management develop corrective action plans to revitalize companies or resolve Form A issues.
Mr. Farley often is appointed the confidential administrative supervisor to oversee plan implementation and return companies to business and value creation. He has served frequently as a confidential administrative supervisor revitalizing insurers and, as the insurance commissioners’ appointed senior executive, served multiple times as a deputy rehabilitator and liquidator of companies in receivership.
Having been involved with over 150 companies in the property/casualty, life, health and managed care sectors, he is able to apply an unparalleled diversity of experience to each engagement. With this wealth of experience, Mr. Farley often serves as an industry expert.
Previously, as vice president of Aon Risk Consultants, Mr. Farley guided the start-up of Aon’s consulting division specializing in reinsurance, runoff management, and support services for regulators managing distressed insurers.
As a senior consultant with Tillinghast, in its management consulting practice, Alec advised management on strategy, finance and general operations. Subsequently as an officer and charter employee of Thomas A. Greene & Company (A&A’s start-up reinsurance intermediary), he produced, designed and placed treaty reinsurance for a diverse group of clients. Beginning his career with Rollins Burdick Hunter, a national insurance broker, he led a team responsible for producing and managing fortune 1,000 accounts and association programs, including professional liability for AICPA members.
Mr. Farley graduated from Connecticut College with a Bachelor of Arts degree in government and economics. He has served on NAIC ad hoc committees, lectured on distressed company evaluations and revitalization plans, and speaks often on industry topics as requested. He is a Certified Insurance Receiver for all industry sectors as designated by the International Association of Insurance Receivers (IAIR). Alec is also a member of and past Governor of the John Street Club.
A resident of the Philadelphia area, Alec has raised three children, two still in college and one just starting out in the ‘real’ world. He has been a trustee of Dynamy Inc. – a college access program for gifted but at risk high school students and involved with alumni college fund raising. He has served as an event director for the Philadelphia Special Olympics and a volunteer with the American Red Cross.