St. John’s University Raises Record-Breaking $4.2 Million at Insurance Leader of the Year Dinner

ILOTY Press Release Photo
January 19, 2023

St. John’s University’s Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science (GSRM), part of The Peter J. Tobin College of Business, hosted its 27th annual Insurance Leader of the Year (ILOTY) Award Dinner on January 18, raising a total of $4,210,500 to fund student scholarships and support academic program initiatives. The event, held at the New York Marriott Marquis in Manhattan, drew a crowd of nearly 1,600 members of the global insurance industry, senior leadership from the University, students, faculty, business executives, guests, family, and friends.

The historic celebration for the insurance industry and supporters of the University honored Alan D. Schnitzer, Chairman and Chief Executive Officer, The Travelers Companies, Inc., as the Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science’s “2022 Insurance Leader of the Year.”

The prestigious award, presented annually since 1995, recognizes the contributions of outstanding individuals whose leadership in the worldwide insurance and financial services industry sets them apart from their peers.

In a heartfelt acceptance speech, Schnitzer concluded, “My hope is that one day in the future, a recipient of the generosity we’ve seen here tonight will be up on this stage being honored. They’ll be able to talk about their work to bring people together, to confront risks, and to overcome challenges. And they’ll be able to say: ‘Someone saw a future for me that I couldn’t fully see for myself.’ What a fitting tribute that would be to our industry, your generosity, and the promise of partnership.”

During his acceptance speech, Mr. Schnitzer surprised the audience by announcing the creation of The Travelers Scholarship for Future Leaders with a pledged gift of $250,000. The scholarship fund provides annual scholarships to GSRM students with financial needs and who have demonstrated strong leadership potential.

Rev. Brian J. Shanley, O.P., President of St. John’s, thanked the attendees for their generosity stating, “On behalf of our students, I thank you for supporting our fundraising efforts and for employing our graduates, and I encourage you to continue to hire our students because we have wonderfully diverse, talented and hard-working students studying at St. John’s.”

Honorary Co-Chairperson Joan K. Woodward, Executive Vice President of Public Policy and President of The Travelers Institute at The Travelers Companies, Inc., introduced Mr. Schnitzer by saying, “Alan has been the driving force behind the innovation investments that have propelled Travelers forward, and he’s fostered a culture of invention and experimentation that sets us apart. His vision is as clear as it is inspiring – it’s why he’s a thought leader in our industry and beyond.”

Mixed into the large crowd of insurance industry leaders were current GSRM students, who were able to network with them during the cocktail reception and in the festive ballroom.

Aaron Mann, a graduate student and an infielder on the St. John’s baseball team, who moved from Little Rock, Arkansas, to New York City to pursue an M.S. in Enterprise Risk Management at GSRM, shared, “It is impressive to see so many people from the insurance industry who care about St. John’s and want to come together to help students like me.”

The Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science was founded in 1901 as the Insurance Society of New York and over the years evolved into The College of Insurance (TCI). In June of 2001, TCI merged with St. John’s University, becoming a School that is part of The Peter J. Tobin College of Business.

From its location at 101 Astor Place in Manhattan’s East Village, St. John’s awards undergraduate, M.B.A., and M.S. degrees in the insurance, risk management, and actuarial science disciplines. Through its Tobin Center for Executive Education, the University also provides education, training, and consulting services to industry, governments, and regulators worldwide.

“We are immensely proud to be the host of this prestigious event and to have such a noted honoree as Alan Schnitzer,” stated Brandon W. Sweitzer, Dean, Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science.

GSRM is a global leader in risk and insurance education and training and draws candidates from many regions of the world. All degree programs offered by The Peter J. Tobin College of Business, and thus by GSRM, are fully accredited by the Association to Advance Collegiate Schools of Business.

“The Insurance Leader of the Year Award Dinner demonstrates the power and potential of a St. John’s education and our strong bonds with the global insurance industry,” said Norean R. Sharpe, Ph.D., Dean, and Joseph H. and Maria C. Schwartz Distinguished Chair, The Peter J. Tobin College of Business.

The 2023 Insurance Leader of the Year Award Dinner is scheduled for January 17, 2024.

The Travelers Companies, Inc. is a leading provider of property casualty insurance for auto, home, and business. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $37 billion in 2022.