US Federal Reserve Board announces new appointments to its Insurance Policy Advisory Committee

The US Federal Reserve Board has announced seven appointments to its Insurance Policy Advisory Committee (IPAC), consisting of three new faces alongside four returning members.

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The new appointments include Jonathan Kelly, Partner at Sidley Austin; Paul Kim, Head of Commercial Risk Strategy and Product Development at Aon; and Sam Ramos Chief Legal Officer, General Counsel & Secretary at Global Atlantic Financial Company.

Established at the Board of Governors in 2018 by the Economic Growth, Regulatory Relief, and Consumer Protection Act, the IPAC plays a crucial role in advising the Board on complex insurance matters.

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The Committee is tasked with providing information, advice, and recommendations to the Federal Reserve Board on a wide array of insurance-related topics, both domestically and internationally.

The newly appointed and reappointed members bring a diverse wealth of experience to the IPAC, with expertise spanning life insurance, property and casualty insurance, reinsurance, and more.

Their professional backgrounds are equally varied, encompassing insurance accounting, actuarial science, academia, insurance regulation, policyholder advocacy, capital markets, and other relevant fields.

Joining the IPAC as a new member is Jonathan Kelly, who currently serves as Partner at the global law firm, Sidley Austin. He has been part of the firm for over 17 years, having joined in 2007.

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Before that, he was a Partner at Dewey Ballantine for close to eleven years.

Paul Kim is joining Kelly as a new member of the IPAC. He currently serves as Head of Commercial Risk Strategy and Product Development at Aon. he has been part of Aon since 1994, following a two-year tenure at Marsh.

Joining Kelly and Kim as new IPAC members is Sam Ramos, current Chief Legal Officer, General Counsel & Secretary at Global Atlantic Financial Company, a role he has held for over a decade.

Prior to Global Atlantic, Ramos served as Managing Director & Assoc General Counsel at Goldman Sachs for 15 years.

IPAC re-appointed members include Andrew Vedder Vice President of Enterprise Risk Management at Northwestern Mutual; John Golden Global Head of Insurance Regulation at Apollo Global Management; Peter Kochenburger, Professor of Law at the Southern University Law, Emeritus, University of Connecticut School of Law; and William Torchiana, Partner at Sullivan & Cromwell.