Our company was originally organized under the name of H. N. Bruce & Associates on October 1, 1929, in Springfield, Illinois by its founder, Harley N. Bruce. If you are a history buff, you will note that H.N. Bruce & Associates was created just before the start of the Great Depression. With so many actuaries today, it may be hard to believe that at that time there were only two consulting actuarial firms in the state of Illinois.
In 1947, Harley’s eldest son, Robert (Bob) E. Bruce joined the firm after receiving his graduate degree from Northwestern University and his masters at Michigan University. Bob had served as a recognizance pilot for General George Patton in World War II.
In February 1954, Harley’s youngest son, William (Bill) joined the firm. For nearly twenty years the three Bruces served fraternal life organizations along with commercial companies providing life and health actuarial services.
In August 1973, at the age of 75, Harley Bruce sold H. N. Bruce & Associates to his two sons. Shortly thereafter, they reorganized the company and formed the name Bruce & Bruce Company Consulting Actuaries, Inc. It has been more commonly called, Bruce & Bruce.
It is believed that Bruce & Bruce was the oldest single family -owned actuarial consulting firm in the state of Illinois. After 89 years, the Bruce brothers sold their company in August of 2018.
New ownership has devoted time and money in fortifying Bruce & Bruce with seasoned actuaries formerly at Western-Southern Financial Group, Sun Life Financial, BMO Insurance, and Milliman. We provide a variety of actuarial, pension and consulting services for life and health insurance companies.