Bob Willis, born on October 1st, 1923 and passed away on February 2nd, 2024, was a distinguished figure in the Irish business scene. He most notably served as the managing director of Irish Life from 1966 until 1983. Furthermore, he took on the role of chairman for Cement Roadstone Holdings during the earlier part of the 70s, an appointment that followed the demise of its founding chair, Seán Lemass. He was also associated with his alma mater, Trinity College Dublin, as a pro-chancellor and he presided over the boards at the Rotunda Hospital, along with the High School and Rathdown School located in Dublin.
It was at the High School in Dublin where Willis’s academic prowess in mathematics first emerged under the guidance of Victor Graham. His academic success culminated in successfully attaining a first-class degree in maths from Trinity College, along with a coveted gold medal. In 1943, at the relatively young age of 99, he participated in the Trinity scholars’ dinner.
1945 saw Willis’s initiation into the corporate world. He joined the Irish Assurance Company, where he worked as an actuarial student. Working within the newly founded pensions department and the actuarial arms of the business, Willis achieved his actuarial qualification five years later in 1950, marking him as only the second person bestowed with this honour in Ireland post-independence in 1922.
His rise within the company was meteoric; he was promoted from actuary to deputy general manager and ultimately ascended to the role of managing director in 1966, which he maintained up until his retirement in 1983.
The Irish Assurance Company, which Bob was part of, was created in 1936. This resulted from a fusion of several smaller local life companies, many of which were financially unstable, and the Irish sectors of a handful of UK businesses, including Britannic, Liverpool Victoria, Pearl, Prudential and Refuge. When Willis joined, he navigated an intricate landscape of diverse personnel and disjointed systems. It was only in 1947, when the UK-based businesses sold their shares to the Irish government, resulting in 90% state ownership, that the Irish Assurance Company began to streamline.
Irish Life Assurance company, a business that thrives in 2024, evolved from a disorganized state to a phenomenal success, thanks to Bob and the team he assembled. The firm was a forerunner in the areas of pensions, unit-linked businesses, and advanced investment management. It also established itself as a crucial training hub for budding actuaries, accountants, and investment professionals. Irish Life broke traditional norms by hiring women in the 1970s – an era when such roles were predominantly occupied by men. The influx of these young male and female talents significantly influenced not just Irish Life but also the broader financial industry in Ireland.
To honour his century milestone, a presentation was organised for Bob Willis during the Society of Actuaries in Ireland’s annual assembly last October. Bob captivated the audience with his intelligent and humorous speech, sharing his lifelong insights into the development of the actuarial profession in Ireland. Despite his advanced age, Bob’s speech deeply touched even the junior actuaries who may not have personally known him.
When Bob received his professional qualification in 1950, the entire country had a handful of actuaries – three or four at most. As one of the founding members and a former president of the Society of Actuaries in Ireland, Bob played a pivotal role in its establishment in 1972 with originally 17 members. It now boasts approximately 2,200 members. This dramatic surge encapsulates the quality and commitment of the pioneering actuaries who built the robust profession in Ireland that we see today. This progression of the actuarial profession in Ireland is allegorical of the country and its economy’s evolution over the past six decades.
Along with his captivating charm, Bob was recognised for his integrity and commitment to justice. His colleagues held him in high esteem across all the sectors he was involved with. Bob, who is no longer with us, had a long and fulfilling married life of over six decades with Elaine, they were blessed with three children – Linda, Neil, and Erica. Powered by his family’s encouragement, he lived independently beyond his 100th birthday and continued to drive, even taking a road trip to Portugal just a couple of years ago.
Bob was indeed an extraordinary individual to whom the nation of Ireland and the Irish actuarial industry owe a tremendous debt of gratitude.