Michael J. Morrissey is president and chief executive officer of the International Insurance Society (IIS). The IIS, founded in 1965, is the world’s largest and most diverse industry organization, with members representing global insurance leaders, international regulatory authorities and worldwide insurance scholars from more than 95 countries. The IIS sponsors research to promote an exchange of ideas and solutions on issues critical to the industry and public policy.
Before joining IIS, Morrissey was chairman and chief executive officer of Firemark Investments. He was also the firm’s chief investment officer and invested in insurance companies worldwide. He has advised insurance company managements and regulators and served on a number of insurance company boards in North America, Europe and Asia. Morrissey currently is a member on the board of Selective Insurance Group and is chairman of its finance committee.
Morrissey is a member of the board of overseers of the St. John’s University School of Risk Management, senior adviser to the Asia-Pacific Financial Forum (APFF) and a member of the board of governors of the Asia Pacific Risk & Insurance Association. He is also a member of the American Risk & Insurance Association and the Group of Risk & Insurance Economists. He is an adviser to the United Nations Environmental Program Finance Initiative’s Principles for Sustainable Insurance and was the global insurance industry representative on the Private Sector Taskforce on Regulatory Convergence in Financial Services, organized by the G-20.
Morrissey holds a B.A. from Boston College and an M.B.A. from Dartmouth College and graduated from the Harvard Business School’s Corporate Finance Management Program. Morrissey is also a CFA charterholder and past president of the Association of Insurance and Financial Analysts.
I have been asked a number of times to provide my perspective on the insurance industry in the time of the Industrial Revolution 4.0. In this piece I’ll do so, but first, how did we get to 4.0? What preceded and led to this brave new world of what’s now called “IR4”? The first industrial […]
Mutual companies, which are operated for the benefit of their member-owners and are not controlled by outside investors, have been experiencing a moderate period of growth following the recent financial crisis as policyholders have retreated from stock-owned institutions. Mutuals’ share of the world insurance market increased from about 24% in 2007 to a little more […]
According to the U.S. Small Commercial Insurance Study, after three years of declining rates, insurance providers are no longer able to compete primarily on price and are now focusing their efforts on ways to please their customers. The payoff is a significant increase in satisfaction among their small business commercial customers, with a 30-point improvement […]
The 20th century has been described as the American Century, with solid justification. From modest beginnings (the U.S. did not have one of the world’s 15 largest armies before World War I broke out), the U.S. became a virtual unipolar political and military force by the year 2000. As the world evolves, the 21st century […]
These remarks were delivered at the United Nations Sustainable Development Summit on Friday, Sept. 25, 2015. Good afternoon, excellencies, ministers, ladies and gentlemen. My name is Mike Morrissey, and I’m president and CEO of the International Insurance Society. We are a nonprofit research and idea exchange organization representing life and non-life insurers, as well as […]