Michael Frank – Chief Actuary


Michael Frank is Chief Actuary for Capstone Consulting Group and the Founder and President of Aquarius Capital. Michael is an actuary with executive management experience with insurance, reinsurance, employee benefits and managed care entities. He also has significant experience in providing financial and management consulting to a various array of organizations including insurance companies, investment bankers, reinsurers, HMOs, managed care organizations, hospitals, insurance regulators, third-party administrators and Fortune 500 companies.  


Michael is an active participant in the insurance industry and participates on various NAIC and actuarial industry task forces, including workgroups for reserving, Medicare and HMO Risk-Based Capital. He is also a guest speaker for various industry conferences and a regular attendee at industry meetings for healthcare, reinsurance, actuarial, finance, capital management, employee benefits, and medical professions. Michael is a professor at Columbia University in the M.S. in Actuarial Science program.


Michael is credentialed with the following professional organizations:

  • Associate, Society of Actuaries (SOA)
  • Member, American Academy of Actuaries
  • Fellow, Conference of Consulting Actuaries
  • Member, Caribbean Actuarial Association
  • Associate, International Conference of Consulting Actuaries
  • Member, International Actuarial Association
  • Associate, American College of Healthcare Executives (ACHE)
  • Retired President and Active Member, Actuarial Society of New York (ASNY)
  • Chairperson for Continuing Education for ASNY
  • Elected and Served, Reinsurance Section Council (SOA Committee)
  • Elected and Served, Entrepreneurial Actuaries Section Council (SOA Committee)
  • Elected and Served, Actuary of the Future Council (SOA Committee)
  • Instructor, Society of Actuaries LEARN Program, teaching reinsurance to insurance regulators
  • Licensed reinsurance intermediary


  Michael has held positions with the following organizations:

  • President – Actuarial Society of Greater New York (ASNY).
  • Chief Actuary – Coordinated Care Solutions, a managed care carve-out based in FL.
  • Vice President & Chief Actuary – Transamerica Reinsurance, Accident & Health Division in CT. Position was a Chief Financial Officer role for the A&H division overseeing actuarial, claims, medical management and networking contracting.
  • Sr. Vice President & Chief Actuary – Management Facilities Corporation, a managing general underwriter based in CT and NJ.
  • Director of Finance & Chief Actuary – Physicians Health Services, an HMO in CT, NY and NJ.
  • Consultant & Senior Health Actuary – The Segal Company, a national consulting and employee benefits firm located in NY.
  • Consultant & Actuary – Coopers & Lybrand, a national consulting and employee benefits firm working in the NY and TX offices.
  • Actuarial Executive Development Program – Prudential Life in NJ in Corporate Underwriting and Taxation Departments.


Michael is originally from the New York metropolitan area and graduated from the University of Michigan at Ann Arbor with a Bachelor of Science in Mathematics and Statistics. He is married with four children and resides in Port Chester, NY.