CIA (e)Bulletin/(e)Bulletin de l'ICA
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December 2018
 
 

In Memoriam: Charles T.P. Galloway

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Former CIA president Charles T.P. Galloway passed away in Toronto on November 15. He was 91.

Mr. Galloway graduated from the University of Toronto with a BA in the maths and physics program. He started work as an actuary with the National Life Assurance Company, and was promoted to chief actuary after completing all of his actuarial exams. He served as vice-president of the company before being promoted to president of National Life in 1977 at age 50. He served in this position for 10 years before he retired and sat on the boards of National Life and other insurance companies.

CIA President from 1980–1981, Mr. Galloway also volunteered with the Professional Conduct Committee (1983–87) and the Committee on Qualifications and Conduct (1974–79). In 2015, he received a silver volunteer award.

Mr. Galloway also contributed to Our history. Our achievements., the CIA’s oral history book, published as part of the Institute’s 50th anniversary in 2015. Recollecting his time as president, Mr. Galloway noted that CIA members at the time tended to vote for candidates who were CEOs or presidents of their companies. He himself had just become president of National Life.

I was stretched pretty thin trying to get adjusted to my new job and be President of the CIA, and I’d never served on the Council. One of the things I passed on was, “Don’t elect CEOs; elect guys that have been on the Council who know what goes on. You’ll have a much easier time of doing the job of President.” That’s exactly what they did. I wasn’t sure whether they were taking my advice or whether they thought I did such a terrible job that they better change what they did. At any rate, it did change.

He also recalled the beginning of his career, in 1946, when he received a letter from a life insurer offering a summer job:

Afterwards, I told my father that anybody that goes to work for a life insurance company is nuts. I think I did automatic premium loans all summer. Everything was done by hand: working out the interest and making sure the cash value would cover the loan, and then terminating a policy if it wouldn’t. It was a terrible job. However, it got better.

Charles T.P. Galloway obituary

 

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