Harley N. Bruce started Bruce & Bruce Company in Springfield, Illinois in October 1929. The initial company name was "Harley N. Bruce, Consulting Actuary". When the office opened, there was only one other consulting actuary in the state of Illinois. The company name later became Bruce & Bruce Company after Harley's brother, Bill Bruce, joined the firm.
When the Springfield office was opened, there were six small life insurance companies domiciled there. Bruce & Bruce had five of the six as clients. In 1929, the Depression was fierce and times were very hard for most businesses. However, the consulting business became a necessity as financial crises need expert actuarial attention.
In 1949, Harley N. Bruce and four other Chicago based actuaries discussed the need for a forum to meet and discuss their affairs. This led to the development of the Conference of Consulting Actuaries (CCA). As many know, CCA is vital to all practice areas of the actuarial profession today.
Harley N. Bruce later became the President of CCA in 1971. He also served as President of the Fraternal Actuarial Association in 1957 and the Vice-President of the American Academy of Actuaries in 1972-1973.
In 1977, Bruce & Bruce Company was officially formed in Lake Bluff, IL were it is still headquartered today.
Bruce & Bruce was formed by family members and that notion of family is carried over to how we treat our clients. We have been an influential partner for the Fraternal Benefits Societies, the Insurance Industry and the actuarial profession for almost 100 years.
Our clients can attest that Bruce & Bruce is invested in the success and growth of their business. The exceptional expertise and guidance that we provide has led Bruce & Bruce to be a trusted consultant for a number of our clients for over 50 years!