1. Bring milk, rice, sugar, salt to boiling in saucepan. Reduce to medium-low; simmer, uncovered, until water is absorbed, rice is tender, mixture thickened, 40 to 45 minutes. (Near end, reduce heat to low to avoid scorching.) Five minutes before end of cooking, stir in 1/2 cup cream.
2. Place raisins in small bowl. Add boiling water; let soften, 5 minutes. Drain. Stir raisins into rice mixture.
3. Mix remaining 1/2 cup cream, egg in bowl. Stir small amount hot rice into egg mixture. Stir egg mixture into rice in pan. Simmer until thickened (instant-read thermometer registers 160 degrees F), 3 minutes. Remove from heat. Stir in vanilla. Cool 15 minutes. Stir in half-and-half. Serve warm, or chill 2 hours, then serve. Makes 8 servings.