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Peter Schaefer

Education

I left Buffalo for college at the Wharton School of Business at the University of Pennsylvania (Penn) and graduated with a degree in actuarial science and insurance.

Business Career and professional Development - Major Stages

After graduating from Penn, I spent two years in the actuarial consulting field. Following that I joined Penn Mutual, a medium size mutual insurance company in Philadelphia. During my 15 years at Penn Mutual, I was involved in virtually all actuarial areas of the company. I began with valuation and other financial reporting issues and concluded with pricing, product development and reinsurance. While at Penn Mutual, I received my Fellowship from the Society of Actuaries.

1998: I was contacted about becoming Chief Actuary of the rapidly growing company now known as Hannover Life Reassurance Company of America (previously Reassurance Company of Hannover). I was very impressed with the people that I met, the management of the company and the company's strategy.

The last decade has certainly shown that I made the right choice. After two years at Hannover, I became President and CEO. I've had an opportunity to work with some of the best people in the industry, both as colleagues and clients. I continue to be excited about the opportunities that we have at Hannover Life Re to develop innovative solutions, utilizing the worldwide expertise of the team, to meet the needs of our clients.  I am grateful for this relationship with our clients.  They are a joy to work with and I am proud to call many of them friends.

Hobbies and Sports

I am an avid golfer. I play what we in America call "client golf". That means that I play fast enough to keep the game going and shoot a high enough score that most of the time, the client wins.

I am also a fan of what we in America refer to as the "four major sports" – Baseball, Football (not soccer), Basketball and Hockey. I live and die with the Buffalo Bills (football) and am also a big fan of the Buffalo Sabres (hockey).