Insurance Distribution in a Changing World

Size: px
Start display at page:

Download "Insurance Distribution in a Changing World"

Transcription

1 Karel s club EXECUTIVE INSURANCE FORUM Insurance Distribution in a Changing World May 2014 Frankfurt Germany

2 prof. karel van hulle About Karel s Club Trilogue between insurance executives, regulators and academia The insurance industry lives in a time of change. Although its business model is often misunderstood, its importance is increasingly recognised. More regulation can be expected. That regulation will have a profound impact on the way insurance business is carried out. It is important to think about the possible impact of that new insurance regulation before its introduction as well as once it has entered into effect. Karel s Club offers the possibility to discuss new developments in insurance regulation as well as new trends in insurance in an informal setting, between senior management from the insurance industry, stimulated by reflections from academia and from representatives of the regulatory community. The objective is to enable thought provoking discussions on matters of concern to the participants under Chatham rules. The discussions should help to shape strategic thinking about the likely way in which insurance will develop in the coming years as well as on how regulation might influence this development. Proper attention will be paid to the European and international regulatory agenda. Karel s Club seeks to provide space for Executives, who are concerned about the future and want to prepare themselves for the challenges ahead through active discussion, sharing experience with colleagues and regulators in a neutral university environment. The modern Campus Westend of Goethe University in Frankfurt, where ICIR and the House of Finance is located, provides a uniquely rich and productive learning environment, an atmosphere of complete intellectual freedom. The forum discusses one or more Insurance issues, providing a better understanding of the interaction between these issues and Insurance regulation. The meetings organised by the Club are meant to be both informative and directly relevant for the participants. Participants are expected to engage themselves in the debate. Chair Karel s Club is chaired by Prof. Karel van Hulle, Professor at the KU Leuven and at the Goethe University in Frankfurt, former Head of Insurance and Pensions at the European Commission and Executive Board Member of the International Centre for Insurance Regulation (ICIR). target group This forum is addressed to senior management from the insurance industry, i.e. board members, chief risk officers, chief financial officers, actuaries, accountants, regulators, supervisors and policymakers. Although the discussions will take account of European developments in the context of Solvency II, the focus of the meeting will be broader and attention will also be paid to developments in other parts of the world.

3 the experience Meeting with Karel and a select group of high level professionals from the insurance industry and related organizations in the context of Karel s club was a great experience. It was very inspiring to grab in a vitalizing environment the possibility to discuss with an open mind the challenges and opportunities of long term investments. Bart De Smet, CEO, Ageas I appreciated very much the atmosphere of Karel s Club that was ideal to exchange views in an unformal and relaxing way. The quality of exchanges was excellent as people were very open and constructive proposing solutions to very challenging and relevant issues. This is the type of events you want to be part of. Dominique Bourrat Managing Partner, Risk Dynamics Peter Skjødt Executive Director, Danish Insurance Association The first meeting in the Karel s club is probably the first seminar I attended which delivered on all promises and lived up to all my expectations. And my expectations were very high indeed. We were invited to discuss with top professionals in a small group. We met senior officials from EIOPA and supervisors, key executives from the life insurance industry, political lobbyists and we all shared a common goal: based on our interest in the Solvency II project to discuss likely future scenarios, worries, outcomes, obstacles and likely developments. And Karel van Hulle managed the seminar very professionally, yet in a relaxed way, to tie together all presentations and comments so that we could leave the seminar with a sense of really having an improved understanding of key aspects of Solvency II. I was amazed how intense the debate was and how strong the interest from everybody was to actually contribute to and be part of the discussions. I had feared the discussion could be artificial because we had no decision power or output to produce. But interesting discussions just continued, even during lunch and dinner. The seminar was held in beautiful surroundings and the friendly and relaxed atmosphere was underpinned by a cuisine which was a very positive experience in itself.

4 Karel s club 2014 Insurance Distribution in a Changing World May 2014 INTRODUCTION Much has been said and discussed about Solvency II, the new risk based solvency regime for the insurance and reinsurance industry. However, there can be no doubt that the next issue on the agenda of regulators is the way in which the buyers of insurance products are dealt with in practice. Whilst a fair treatment of consumers is an issue for all parts of the financial services industry, this matter is particularly important in insurance as insurance is a product that is not sold but bought. It is therefore necessary to ensure that consumers are well informed about what they are buying and that there is transparency about all aspects of the insurance transaction. A number of regulatory initiatives are on the EU agenda: the revision of the Insurance Mediation Directive (IMD II), the revision of the Market in Financial Instruments Directive (MiFiD II), the introduction of a common regulatory regime for the sale of packaged retail investment products (PRIPS). But not only in the EU, the issue of insurance distribution is on the agenda. Reforms have been called for by the G20, by the OECD and by the IAIS. These regulatory initiatives need to take account of a changing environment whereby developments such as data collection (Big Data) and information technology (Comparison Websites and Aggregators) are having a direct influence on the way in which insurance products are being distributed. The second meeting of the Karel s Club will look at insurance distribution from different angles, benefiting from the input of a number of key experts in the field. The discussion will focus on issues such as: What are the likely regulatory changes in the near future? How will they affect the insurance industry and insurance intermediaries? Will insurance agents be affected more than insurance brokers? Is there a need to also address the wholesale market or should regulation forget about business to business? Should regulators just impose transparency or should they also regulate the way in which the sale of insurance products is being remunerated? How can regulation deal with the low financial literacy of consumers? What do customers prefer? Can they really make a choice between low guarantee products with high profit participation and high guarantee products combined with low profit participation? Is it possible to compare insurance products offered by different providers? How reliable are estimated payments in product fact sheets? Will Comparison Websites and Aggregators take over the role of insurance intermediaries? Will the market in the end be taken over by data collection institutions such as Google?

5 INSURANCE DISTRIBUTION IN A CHANGING WORLD Leading Questions REGULATORY CHALLENGES Is there a need to increase transparency in the distribution of insurance products? Should there be a ban on commissions? Is it possible to distinguish between advice and independent advice? Should insurance investment products be dealt with like other insurance products or just like other investments? How should regulators deal with Comparison Websites? Do consumers need insurance advice? STRATEGIC QUESTIONS How will the insurance industry deal with the changing landscape in insurance distribution? What will be the impact of IMD 2 on insurance intermediaries? How will the market with the largest number of intermediaries cope with the increasing regulation? Will increased EU regulation foster the creation of an internal market for insurance? Are we forgetting the wholesale market? Will increased transparency result in consumers being treated more fairly? POSSIBLE SOLUTIONS Replace commissions with paid advice Introduce net-quoting Distinguish between life and non-life policies Let the consumer take care of him/herself via Comparison Websites Reduce insurance intermediation in order to reduce the price of insurance products Limit increased regulation to the sale of insurance investment products

6 INSURANCE DISTRIBUTION IN A CHANGING WORLD Programme Thursday, 22 May Executive Insurance Forum Opening Prof. Karel Van Hulle, ICIR, Goethe University EIOPA s Approach to Regulating Insurance Distribution David Cowan, EIOPA, Department of Regulation, Co-ordinator of the Consumer Protection and Financial Innovation Team How do Insurance Intermediaries look at the Recent Regulatory Initiatives on Insurance Distribution? Paul Carty, Managing Director ARB Underwriting Ltd and former Chariman of Bipar (Dublin) Nordic Experiences with the Regulation of Insurance Distribution Esko Kivisaari, Deputy Managing Director, Federation of Finnish Financial Services (Helsinki) Challenges of Online Channels for the Distribution of Insurances Prof. Dr. Bernd Skiera, Chair for Electronic Commerce, Goethe University Debate and Discussion Dinner FRIDAY, 23 May Introduction Prof. Karel Van Hulle, ICIR, Goethe University The Role, Position and Economics of the Aggregators in the UK Market Andy Watson, CEO, Ageas UK How Does a Major Insurer Look at the Issue of Insurance Distribution? Marcus Nagel, CEO Life Germany, Zurich Group Germany (Bonn) Experiences from the German Market Prof. Michael Radtke, University of Applied Sciences Dortmund Debate and Discussion Experiences from the Wholesale Market Marie Gemma Dequae, Scientific Adviser FERMA (Brussels) Distribution of Retail Investment Products in the UK: Recent Regulatory Developments Nick Poyntz-Wright, Director of Long-Term Savings & Pensions, Financial Conduct Authority (London) Debate and Discussion Lunch End of Forum

7 Karel s Club is based on the cooperation of two HoF institutions of Goethe University: The International Center for Insurance Regulation (ICIR) and Goethe Business School (GBS). house of finance About ICIR The International Center for Insurance Regulation (ICIR) took up its work at Goethe University in Frankfurt on October 1, It is the first scientific institution worldwide which is focused on the regulation of insurance companies. By fostering high-quality international, independent research on insurance regulation and market solutions to regulatory questions, the ICIR aims at attaining a leading position in its area of research. The ICIR concentrates facts and newest insights in the area of insurance regulation and further develops them by means of independent research. According to the House of Finance philosophy, research is based on an interdisciplinary exchange of the economic and the legal point of view. A major aim of the ICIR is to publish research findings in internationally acknowledged academic journals. It co-organizes conferences and seeks an active dialog with top scientists from all over the world. A planned fellowship program facilitates network-building with internationally renowned scholars. The ICIR benefits from the proximity of important international institutions located in Frankfurt, such as the European Insurance and Occupational Pensions Authority (EIOPA), the European Central Bank (ECB), and the European Systemic Risk Board (ESRB). Because of its scientific independence, the ICIR provides an ideal platform for regulatory authorities, policymakers, and the insurance industry to exchange ideas and seek answers to regulatory issues. ABOUT GOETHE BUSINESS SCHOOL Sited in the heart of one of the world s leading financial centers, Goethe Business School (GBS) is the center for high-quality management education at Goethe University in Frankfurt in close cooperation with the faculty of economics and business administration. GBS is set up as an independent, non-profit organization under private law, held by Goethe University Frankfurt. GBS offers degree programs for individuals and executive education programs for organizations. The part-time Master in Finance is a unique finance degree program designed for young professionals who wish to continue with their careers while pursuing a master s degree. With our executive education programs we offer customized solutions to organizations meeting the learning and development needs for their management levels. With our flexible program portfolio we cover all topics around finance, management and leadership. GBS unique teaching philosophy combines leading research and teaching, outstanding study resources, active networking and hands-on learning. This holistic approach enables develop professional and personal skills in an environment that is at once challenging and supportive. All programs are designed to meet the highest academic quality standards and taught by experienced faculty members from academia and business following an interdisciplinary approach.

8 Poelzig Bau Campus Westend, Goethe University KAREL S CLUB 2014 INSURANCE DISTRIBUTION IN A CHANGING WORLD May 2014 venue Goethe University Campus Westend Poelzig Bau, Eisenhower Room Grüneburgplatz Frankfurt Germany FORUM FEE Euro (incl. VAT) The forum fee includes refreshments and meals Contact & Registration International Center for Insurance Regulation (ICIR) Goethe Business School Jozefina Kontic E: kontic@gbs.uni-frankfurt.de House of Finance Campus Westend Goethe University Grüneburgplatz Frankfurt Germany T: +49 (0) F: +49 (0) E: icir@finance.uni-frankurt.de

The Future of Life Insurance

The Future of Life Insurance Karel s club EXECUTIVE INSURANCE FORUM The Future of Life Insurance 24-25 OCTOBER 2013 Frankfurt Germany prof. karel van hulle Trilogue between insurance executives, regulators and academia About Karel

More information

Emerging Risks and Limits of Insurability. 11 12 June 2015 Frankfurt Germany. H o u s e o f Finance

Emerging Risks and Limits of Insurability. 11 12 June 2015 Frankfurt Germany. H o u s e o f Finance Karel s club EXECUTIVE INSURANCE FORUM Emerging Risks and Limits of Insurability 11 12 June 2015 Frankfurt Germany H o u s e o f Finance prof. karel van hulle About Karel s Club Trilogue between insurance

More information

Solutions. Value. Leadership. Finance. Development. Campus. Complexity. Innovation. horizon. International. Partnership. Executive Education

Solutions. Value. Leadership. Finance. Development. Campus. Complexity. Innovation. horizon. International. Partnership. Executive Education Executive Education CORPORATE Programs& Executive Solutions Campus Value Academia Complexity University Unique Personality Leadership horizon Finance Executive Innovation International Team Culture Development

More information

EAA Seminar CERA, Module: Risk Management Tools and Techniques 10 12 September 2015 Cologne, Germany

EAA Seminar CERA, Module: Risk Management Tools and Techniques 10 12 September 2015 Cologne, Germany EAA Seminar CERA, Module: Risk Management Tools and Techniques 10 12 September 2015 Cologne, Germany Organised by the EAA - European Actuarial Academy GmbH 1. Introduction CERA Education. Over the last

More information

MBA. Master. Market Access. Part-time berufsbegleitend. Pharmacovigilance. Strategic Management. Regulatory Affairs.

MBA. Master. Market Access. Part-time berufsbegleitend. Pharmacovigilance. Strategic Management. Regulatory Affairs. master of Pharma BUSINESS ADMINISTRATION MBA Part-time berufsbegleitend Master of Pharma BUSINESS ADMINISTRATION Health Economics Corporate Finance Strategic Management Regulatory Affairs Production Market

More information

Actuarial Discipline: Threat or Opportunity?

Actuarial Discipline: Threat or Opportunity? Actuarial Discipline: Threat or Opportunity? Risk and Investment Conference Brighton, 17 June 2013 Prof. Karel Van Hulle KU Leuven and Goethe University Frankfurt Actuarial Discipline The importance of

More information

Consultation document on the Review of the Insurance Mediation Directive (IMD) Commission Staff Working Paper

Consultation document on the Review of the Insurance Mediation Directive (IMD) Commission Staff Working Paper Consultation document on the Review of the Insurance Mediation Directive (IMD) Commission Staff Working Paper This document is a working document of the Internal Market and Services Directorate General

More information

Bridge programme for Master of Science in Business Administration

Bridge programme for Master of Science in Business Administration BRUSSELS Bridge programme for Master of Science in Business Administration Faculty of Economics and Business KU Leuven. Inspiring the outstanding. Study Economics and Business in Brussels The Faculty of

More information

Insurance and reinsurance news

Insurance and reinsurance news Insurance and reinsurance news Insurance Mediation Directive 2 what it means for you Summary On 3 July 2012 the European Commission adopted a proposal to revise the Insurance Mediation Directive (IMD2)

More information

MBA. Master. Market Access. Part-time berufsbegleitend. Pharmacovigilance. Strategic Management. Regulatory Affairs.

MBA. Master. Market Access. Part-time berufsbegleitend. Pharmacovigilance. Strategic Management. Regulatory Affairs. master of Pharma BUSINESS ADMINISTRATION MBA Part-time berufsbegleitend Master of Pharma BUSINESS ADMINISTRATION Health Economics Corporate Finance Strategic Management Regulatory Affairs Production Market

More information

How To Get A Degree From The Brussels School Of International Relations

How To Get A Degree From The Brussels School Of International Relations The UK s European university BRUSSELS SCHOOL OF INTERNATIONAL STUDIES Graduate study BRUSSELS: THE CAPITAL OF EUROPE Home to the main institutions of the European Union and numerous European and international

More information

THE CRANFIELD IT LEADERSHIP PROGRAMME

THE CRANFIELD IT LEADERSHIP PROGRAMME THE CRANFIELD IT LEADERSHIP PROGRAMME www.cranfield.ac.uk/som/itlp For IT executives who seek to develop their leadership capability and contribute, both strategically and operationally, to the performance

More information

Insurance Europe response to the Commission Staff Working Document on Consumer Protection in third-pillar retirement products.

Insurance Europe response to the Commission Staff Working Document on Consumer Protection in third-pillar retirement products. Position Paper Insurance Europe response to the Commission Staff Working Document on Consumer Protection in third-pillar retirement products. Our reference: LIF-PEN-13-052 Date: 19 July 2013 Referring

More information

Research at Henley Business School

Research at Henley Business School The DBA at Henley We attract experienced and motivated individuals to undertake significant research that shapes organisational thinking and provides an increasingly complex business environment. We are

More information

Michael Wade Crown Representative for Insurance Cabinet Office. FT Future of Insurance

Michael Wade Crown Representative for Insurance Cabinet Office. FT Future of Insurance Michael Wade Crown Representative for Insurance Cabinet Office FT Future of Insurance Tuesday 30 th June 2015 London as an Insurance Centre The combination of Lloyd s managing agencies and company market

More information

Interview with Gabriel Bernardino, Chairman of EIOPA, conducted by Fabrizio Aurilia, the Insurance Review (Italy)

Interview with Gabriel Bernardino, Chairman of EIOPA, conducted by Fabrizio Aurilia, the Insurance Review (Italy) Interview with Gabriel Bernardino, Chairman of EIOPA, conducted by Fabrizio Aurilia, the Insurance Review (Italy) 1. Since EIOPA was established, how has the role of European supervision of the insurance

More information

Master of Science in International Business Economics and Management

Master of Science in International Business Economics and Management BRUSSELS t Master of Science in International Business Economics and Management Faculty of Economics and Business Campus Brussels KU Leuven. Inspiring the outstanding. DISCOVER KU LEUVEN Situated in Belgium,

More information

The Cass PhD Rise to the challenge

The Cass PhD Rise to the challenge The Cass PhD Rise to the challenge Independent thinking in a supportive environment Sir John Cass Business School has a vibrant doctoral programme with around 100 students pursuing research in all fields

More information

INTERNATIONAL EXECUTIVE WEEK IN PROCUREMENT MANAGEMENT

INTERNATIONAL EXECUTIVE WEEK IN PROCUREMENT MANAGEMENT INTERNATIONAL EXECUTIVE WEEK IN PROCUREMENT MANAGEMENT VILLA MONDRAGONE ROME/FRASCATI JANUARY 23/31-2016 An eight-day procurement programme in English designed for senior managers of world-wide public

More information

The European Federation of Insurance Intermediaries

The European Federation of Insurance Intermediaries The European Federation of Insurance Intermediaries Annual Report 2010-2011 www.bipar.eu Annual report 06/2010-05/2011 BIPAR BIPAR, the European Federation of Insurance Intermediaries, is a non-profit

More information

EuroFinuse Response to Giegold - PRIPs Regulation and Its Impact on Retail

EuroFinuse Response to Giegold - PRIPs Regulation and Its Impact on Retail EuroFinuse Response to Sven Giegold MEP Call for Input on UCITS, PRIPs and IMD Legislation The European Federation of Financial Services Users (EuroFinuse) is deeply involved in the discussions on the

More information

INTERNATIONAL ADVANCED STUDIES PROGRAMME ON SPORT SAFETY & SECURITY MANAGEMENT

INTERNATIONAL ADVANCED STUDIES PROGRAMME ON SPORT SAFETY & SECURITY MANAGEMENT Become a Certified Sport Safety and Security Professional! INTERNATIONAL ADVANCED STUDIES PROGRAMME ON SPORT SAFETY & SECURITY MANAGEMENT Certified Sport Safety and Security Professional www.asp.theicss.org

More information

Master of Science in Psychology: Theory and Research

Master of Science in Psychology: Theory and Research LEUVEN t Master of Science in Psychology: Theory and Research Faculty of Psychology and Educational Sciences KU Leuven. Inspiring the outstanding. Discover KU Leuven Situated in Belgium, in the heart of

More information

Master of Science in Business Administration

Master of Science in Business Administration BRUSSELS t Master of Science in Business Administration Majors: International Business Management Business Information Management International Relations Faculty of Economics and Business Campus Brussels

More information

Turku School of Economics: Strategy for 2010 2015

Turku School of Economics: Strategy for 2010 2015 Turku School of Economics: Strategy for 2010 2015 Appendix A TURKU SCHOOL OF ECONOMICS STRATEGY FOR 2010 2015 1 The strategic position of the Turku School of Economics... 1 1.1 Operating environment...

More information

SMU PhD IN BUSINESS Advance knowledge at Asia s leading business and management university

SMU PhD IN BUSINESS Advance knowledge at Asia s leading business and management university SMU PhD IN BUSINESS Advance knowledge at Asia s leading business and management university Message from Associate Dean (Research) and Programme Director The Lee Kong Chian School of Business at the Singapore

More information

Masterclass Cycle on Information Security Management

Masterclass Cycle on Information Security Management Masterclass Cycle on Information Security Management Season 2016 The Masterclass Cycle on Information Security Management is a truly European modular programme, co-created with the CIO community, that

More information

PRIPs: Proposed Regulation on pre-sale disclosures for Packaged Retail Investment Products interaction with RDR and MiFID II

PRIPs: Proposed Regulation on pre-sale disclosures for Packaged Retail Investment Products interaction with RDR and MiFID II gulation on pre-sale disclosures for PRIPS European Commission publishes proposed Regulation on pre-sale disclosures for Packaged R PRIPs: Proposed Regulation on pre-sale disclosures for Packaged Retail

More information

Award in London Market Insurance

Award in London Market Insurance Award in London Market Insurance 2016 Information for candidates Build your career in the London insurance market in association with: www.cii.co.uk Award in London Market Insurance The London market is

More information

12/11/2012. North America. New York. Risk management and strategy in a low rates environment. insurancerisknorthamerica.com

12/11/2012. North America. New York. Risk management and strategy in a low rates environment. insurancerisknorthamerica.com Regulatory update Economic capital Risk appetite ALM optimization Risk management and strategy in a low rates environment insurancerisknorthamerica.com Inaugural Insurance Risk North America conference

More information

Forum of OECD Education Ministers Developing New Tools for Education Policy-Making 13-14 March 2000, Copenhagen, Denmark

Forum of OECD Education Ministers Developing New Tools for Education Policy-Making 13-14 March 2000, Copenhagen, Denmark Forum of OECD Education Ministers Developing New Tools for Education Policy-Making 13-14 March 2000, Copenhagen, Denmark Knowledge Management in the Learning Society Presentation by Professor David Hargreaves

More information

Stakeholders meeting. Ethical protocols and standards for research in Social Sciences today

Stakeholders meeting. Ethical protocols and standards for research in Social Sciences today Stakeholders meeting organised by the Scientific Committee for the Social Sciences Ethical protocols and standards for research in Social Sciences today Date: Thursday 11 June 2015, from 10.00 to 17.00

More information

Clinical Academic Career Pathway for Nursing

Clinical Academic Career Pathway for Nursing Clinical Academic Career Pathway for Nursing Clinical Academic Role Descriptors: Research The clinical academic pathway outlined below highlights the range of typical -focused activities that a nurse on

More information

Regulation and the future of the insurance industry

Regulation and the future of the insurance industry 1 Regulation and the future of the insurance industry Speech given by Paul Fisher, Deputy Head of the Prudential Regulation Authority and Executive Director, Insurance Supervision At the Westminster Business

More information

LIVERPOOL HOPE UNIVERSITY FACULTY OF SCIENCE COMPUTER SCIENCE YOUR FUTURE STARTS WITH HOPE

LIVERPOOL HOPE UNIVERSITY FACULTY OF SCIENCE COMPUTER SCIENCE YOUR FUTURE STARTS WITH HOPE LIVERPOOL HOPE UNIVERSITY FACULTY OF SCIENCE COMPUTER SCIENCE YOUR FUTURE STARTS WITH HOPE 021015 Computer Science Fact File Faculty: Science Department: Mathematics and Computer Science Campus Location:

More information

Distribution channels and impact of legal changes stemming from EU regulation

Distribution channels and impact of legal changes stemming from EU regulation Distribution channels and impact of legal changes stemming from EU regulation Technical Workshop German Insurance Association and Experts of the Western Balkan Primary Insurance Markets 10 June 2015, Bristol

More information

Master of Communication Studies New Media and Society in Europe

Master of Communication Studies New Media and Society in Europe Master of Communication Studies New Media and Society in Europe A one-year programme in English focusing on one of the most dynamic sectors in Europe. Master of Communication Studies The Master of Communication

More information

Impact of EU legislation on the distribution landscape

Impact of EU legislation on the distribution landscape Impact of EU legislation on the distribution landscape Are IMD2/MiFID2/PRIPs leading to big changes? Martin Baier Zagreb, 26 th September 2013 2013 Towers Watson. All rights reserved. Towers Watson: the

More information

LINES SECTOR MARKET INSURANCE AND LONDON COMMERCIAL THE ABI WORKING FOR YOU. @BritishInsurers abi.org.uk Follow us on Twitter @BritishInsurers

LINES SECTOR MARKET INSURANCE AND LONDON COMMERCIAL THE ABI WORKING FOR YOU. @BritishInsurers abi.org.uk Follow us on Twitter @BritishInsurers ABI WORKING FOR YOU COMMERCIAL LINES AND LONDON MARKET INSURANCE SECTOR THE ABI WORKING FOR YOU 3 @BritishInsurers abi.org.uk Follow us on Twitter @BritishInsurers The ABI Working for you We know how important

More information

MBA in Healthcare Management

MBA in Healthcare Management MBA in Healthcare Management Healthcare Management at a Glance Key features n Designed for senior healthcare industry professionals n Part-time programme taught over two years n Balanced curriculum consisting

More information

Master Class Money Market Funds and Shadow Banks

Master Class Money Market Funds and Shadow Banks The Brussels Diplomatic Academy and Febelfin Academy kindly invite you to Master Class Money Market Funds and Shadow Banks Development and Regulation What are the institutions comprised the market-based

More information

BESS The Business, Economics and Social Studies Programme (TR081)

BESS The Business, Economics and Social Studies Programme (TR081) School of Social Sciences and Philosophy Trinity Business School BESS The Business, Economics and Social Studies Programme (TR081) www.tcd.ie/bess Business We have a host of top international professors

More information

Salzburg ii recommendations. EuroPEan universities achievements SincE 2005 in implementing the Salzburg PrinciPlES

Salzburg ii recommendations. EuroPEan universities achievements SincE 2005 in implementing the Salzburg PrinciPlES Salzburg ii recommendations EuroPEan universities achievements SincE 2005 in implementing the Salzburg PrinciPlES Copyright 2010 by the European University Association All rights reserved. This information

More information

PhD Program in Cologne. International Max Planck Research School. at the Max Planck Institute for the Study of Societies and the University of Cologne

PhD Program in Cologne. International Max Planck Research School. at the Max Planck Institute for the Study of Societies and the University of Cologne International Max Planck Research School on the Social and Political Constitution of the Economy PhD Program in Cologne at the Max Planck Institute for the Study of Societies and the University of Cologne

More information

Master of Science in Artificial Intelligence

Master of Science in Artificial Intelligence Master of Science in Artificial Intelligence Options: Engineering and Computer Science (ECS) Speech and Language Technology (SLT) Big Data Analytics (BDA) Faculty of Engineering Science Faculty of Science

More information

BA/BSc Liberal Arts and Sciences

BA/BSc Liberal Arts and Sciences BA/BSc Liberal Arts and Sciences Bright people. Create the difference. Liberal Arts and Sciences at UCG To see the path forward, take a step back. At University College Groningen, we understand that complex

More information

Response from the Danish FSA regarding the consultation on the Review of the Insurance Mediation Directive (IMD)

Response from the Danish FSA regarding the consultation on the Review of the Insurance Mediation Directive (IMD) European Commission DG Internal Market and Services B- 1049 Brussels 2 March 2011 Response from the Danish FSA regarding the consultation on the Review of the Insurance Mediation Directive (IMD) The Danish

More information

FRAMEWORK FOR CONSULTATION OF CEIOPS AND OTHER STAKEHOLDERS ON SOLVENCY II

FRAMEWORK FOR CONSULTATION OF CEIOPS AND OTHER STAKEHOLDERS ON SOLVENCY II Annex 1 to MARKT/2506/04-EN FRAMEWORK FOR CONSULTATION OF CEIOPS AND OTHER STAKEHOLDERS ON SOLVENCY II Purpose of this document The purpose of this paper is to consult the Insurance Committee on a framework

More information

Investor survey of fixed income liquidity 2013

Investor survey of fixed income liquidity 2013 Investor survey of fixed income liquidity 2013 Association for Financial Markets in Europe Sponsored by: About AFME The Association for Financial Markets in Europe (AFME) is the voice of Europe s wholesale

More information

EAA Seminar Solvency II for Non-Life Actuaries 14/15 May 2014 Paris, France

EAA Seminar Solvency II for Non-Life Actuaries 14/15 May 2014 Paris, France EAA Seminar Solvency II for Non-Life Actuaries 14/15 May 2014 Paris, France Organised by the EAA - European Actuarial Academy GmbH 1. Introduction Solvency II will apply starting from 1/1/16 and hence

More information

CAS Digital Innovation and Business Transformation

CAS Digital Innovation and Business Transformation CAS Digital Innovation and Business Transformation Empowering you to master digital transformation The Digital Age is here. The Net Generation has arrived. Meet the future. We are pleased to present to

More information

12th to 13th of June Karlsruhe, Germany

12th to 13th of June Karlsruhe, Germany 12th to 13th of June Karlsruhe, Germany CO ORGANISED BY THE EUROPEAN ORGANISATION FOR SUSTAINABLE DEVELOPMENT (EOSD) AND ASSOCIATION OF DEVELOPMENT FINANCING INSTITUTIONS IN ASIA & THE PACIFIC (ADFIAP)

More information

AUDITORS LIABILITY AND ITS IMPACT ON THE EUROPEAN CAPITAL MARKETS ABI RESPONSE TO EUROPEAN COMMISSION DG INTERNAL MARKET CONSULTATION PAPER

AUDITORS LIABILITY AND ITS IMPACT ON THE EUROPEAN CAPITAL MARKETS ABI RESPONSE TO EUROPEAN COMMISSION DG INTERNAL MARKET CONSULTATION PAPER AUDITORS LIABILITY AND ITS IMPACT ON THE EUROPEAN CAPITAL MARKETS ABI RESPONSE TO EUROPEAN COMMISSION DG INTERNAL MARKET CONSULTATION PAPER INTRODUCTION In January 2007 the EU Commission published a consultation

More information

Client Engagement and Compensation Guide

Client Engagement and Compensation Guide Aon Risk Solutions Client Engagement and Compensation Guide Risk. Reinsurance. Human Resources. Introduction The aim of this document is to provide a high-level summary of the work that Aon Risk Solutions

More information

Own Risk and Solvency Assessment Within the Solvency II Framework and its Interplay with the Quantitative Solvency Capital Requirements

Own Risk and Solvency Assessment Within the Solvency II Framework and its Interplay with the Quantitative Solvency Capital Requirements Prof. Dr. Helmut Gründl and Prof. Dr. Jens Gal Own Risk and Solvency Assessment Within the Solvency II Framework and its Interplay with the Quantitative Solvency Capital Requirements Policy Letter Series

More information

/ Doctorate of Business Administration

/ Doctorate of Business Administration / Doctorate of Business Administration Sunderland Business School s Doctorate of Business Administration programme (DBA) is a stimulating, innovative programme which has been developed to strengthen your

More information

ASSOCIATION OF AFRICAN BUSINESS SCHOOLS. BUSINESS SCHOOL QUALITY REVIEW Draft dated 10 November 2010

ASSOCIATION OF AFRICAN BUSINESS SCHOOLS. BUSINESS SCHOOL QUALITY REVIEW Draft dated 10 November 2010 ASSOCIATION OF AFRICAN BUSINESS SCHOOLS BUSINESS SCHOOL QUALITY REVIEW Draft dated 10 November 2010 The AABS quality review entails a group of peers visiting a member or prospective member school to discuss

More information

Strategy of the Federal and Länder Ministers of Science. for the Internationalisation of the Higher Education Institutions.

Strategy of the Federal and Länder Ministers of Science. for the Internationalisation of the Higher Education Institutions. Strategy of the Federal and Länder Ministers of Science for the Internationalisation of the Higher Education Institutions in Germany (Resolution of the 18th Meeting of the Joint Science Conference in Berlin

More information

EBF preliminary position on the European Commission proposal for an insurance mediation directive (Recast)

EBF preliminary position on the European Commission proposal for an insurance mediation directive (Recast) EBF Ref.: D2142F 10.01.13 Launched in 1960, the European Banking Federation is the voice of the European banking sector from the European Union and European Free Trade Association countries. The EBF represents

More information

Leadership in Action Briefing Pack: Cohorts 15 & 16

Leadership in Action Briefing Pack: Cohorts 15 & 16 Leadership in Action Briefing Pack: Cohorts 15 & 16 Introduction 2 1 Context of leadership development at the University of York 3 2 Principles of the core leadership programmes 5 3 Methodology and principles

More information

Guidelines for Doctoral Programs in Business and Management

Guidelines for Doctoral Programs in Business and Management Guidelines for Doctoral Programs in Business and Management Version EIASM EDAMBA, September 15 th, 2015 Background to this document The EIASM and EDAMBA have long standing traditions and experiences with

More information

Wednesday 23/1/2013. Check against Delivery. Madame Chairman, Vice-Chairs and members of the ITRE Parliamentary Committee,

Wednesday 23/1/2013. Check against Delivery. Madame Chairman, Vice-Chairs and members of the ITRE Parliamentary Committee, Presentation by Mr Richard Bruton, Minister of Jobs, Enterprise and Innovation to the Industry Research and Energy Committee of the European Parliament, Brussels Wednesday 23/1/2013 Check against Delivery

More information

Discours de. Madame Danielle Boulet. Surintendante de l encadrement de la solvabilité. Autorité des marchés financiers

Discours de. Madame Danielle Boulet. Surintendante de l encadrement de la solvabilité. Autorité des marchés financiers Discours de Madame Danielle Boulet Surintendante de l encadrement de la solvabilité Autorité des marchés financiers At the Canadian association of Financial Institutions in Insurance ( CAFII ) BOARD OF

More information

PROFESSIONAL INDEMNITY FORUM CONFERENCE TRIALISTS, TROUBADOURS AND TRICKSTERS 7-9 JULY 2015 KEBLE COLLEGE, OXFORD

PROFESSIONAL INDEMNITY FORUM CONFERENCE TRIALISTS, TROUBADOURS AND TRICKSTERS 7-9 JULY 2015 KEBLE COLLEGE, OXFORD PROFESSIONAL INDEMNITY FORUM CONFERENCE TRIALISTS, TROUBADOURS AND TRICKSTERS 7-9 JULY 2015 KEBLE COLLEGE, OXFORD THE CONFERENCE This is the nineteenth Conference organised on behalf of the Professional

More information

Isle of Man Government

Isle of Man Government Isle of Man Government Commitment to Combating Money Laundering and the Financing of Terrorism & Proliferation Council of Ministers June 2012 Isle of Man Government Commitment to Combating Money Laundering

More information

DYNAMIC HEDGING ESSENTIALS, MASTER CLASS AND WORKSHOP

DYNAMIC HEDGING ESSENTIALS, MASTER CLASS AND WORKSHOP DYNAMIC HEDGING ESSENTIALS, MASTER CLASS AND WORKSHOP Chicago, Illinois August 8 9, 2013 About the course Tremendous advances have been made in the last few years in the area of dynamic hedging of variable

More information

As a global centre of excellence in hospitality and tourism education

As a global centre of excellence in hospitality and tourism education Executive Development Programme in Hospitality 2015/16 Hong Kong PolyU Winter School 7-19 December 2015 As a global centre of excellence in hospitality and tourism education and research, the at The Hong

More information

Sergio Balbinot - The Italian Insurance Convention

Sergio Balbinot - The Italian Insurance Convention Sergio Balbinot conference opening speech 27 May 2015 Introduction Good morning ladies and gentlemen, I would like to thank you for joining us here today for our 7 th annual international insurance conference.

More information

Insurance Risk Europe

Insurance Risk Europe DAY 1: 1 st October, London Content and timings are subject to change Insurance Risk magazine's 8 th annual conference Insurance Risk Europe 07:50 Registration and refreshments 08:20 Welcoming remarks

More information

PensionsEurope position paper on personal pension products

PensionsEurope position paper on personal pension products March 2014 PensionsEurope position paper on personal pension products About PensionsEurope PensionsEurope represents national associations of pension funds and similar institutions for workplace pensions.

More information

Master of Intellectual Property Rights

Master of Intellectual Property Rights Master of Intellectual Property Rights DUTCH-LANGUAGE DIPLOMA Faculty of Law Campus Brussels KU Leuven. Inspiring the outstanding. Master of Intellectual Property Rights This advanced master s programme

More information

UK Insurance Key Facts. September 2010

UK Insurance Key Facts. September 2010 UK Insurance Key Facts September 2010 The UK insurance industry is the third largest in the world and the largest in Europe. It is a vital part of the UK economy, managing investments amounting to 24%

More information

Turning disruption to advantage

Turning disruption to advantage www.pwc.ie/insurance Turning disruption to advantage 85% are confident about growth < Page 1 > 72% see more opportunities than threats < Page 4 > 87% believe regulation is the greatest industry disruptor

More information

University Academic Fellow Surface Analysis and Surface Engineering in Tribology and Corrosion

University Academic Fellow Surface Analysis and Surface Engineering in Tribology and Corrosion Faculty of Engineering School of Mechanical Engineering University Academic Fellow Surface Analysis and Surface Engineering in Tribology and Corrosion With a vision and drive to develop a prestigious internationally

More information

Stichting Inspire2Live. Financial Report 2011

Stichting Inspire2Live. Financial Report 2011 Financial Report 2011 Report on the financial statements for the year 2011 Contents Board report 4 Financial statements 6 Balance sheet as at 31 December 2011 6 Profit and loss account for the year ended

More information

UNIVERSITY OF SUSSEX. 1. Advertisement Ref: 144

UNIVERSITY OF SUSSEX. 1. Advertisement Ref: 144 UNIVERSITY OF SUSSEX 1. Advertisement Ref: 144 School of Psychology Research Fellow in Psychology 0.4 FTE, Fixed Term Contract for 24 months, Salary range: starting at 31,342 and rising to 37,394 per annum

More information

European debt crisis essay wins scholarship for German student

European debt crisis essay wins scholarship for German student MEDIA RELEASE THREADNEEDLE ANNOUNCES SCHOLARSHIP PRIZE WINNERS European debt crisis essay wins scholarship for German student LONDON 27 SEPTEMBER: German student Caroline Duong has won the 2011 Threadneedle

More information

Welcome to Atlas. Michael Gatt CEO

Welcome to Atlas. Michael Gatt CEO Let s talk Welcome to Atlas The Atlas Group of companies is one of Malta s foremost insurance and financial services organisations. The basis of Atlas operations is a philosophy of integrity, honesty and

More information

The Graduate School The Loughborough Doctoral Experience

The Graduate School The Loughborough Doctoral Experience The Graduate School The Loughborough Doctoral Experience PhD and EngD Programmes at Loughborough University www.lboro.ac.uk/graduateschool What is a Doctorate? A Doctorate is one of the highest academic

More information

Doctoral Education in the European Higher Education Area from a University Perspective

Doctoral Education in the European Higher Education Area from a University Perspective Doctoral Education in the European Higher Education Area from a University Perspective Lesley Wilson Secretary General European University Association 3rd Cycle Degrees: Competences & Researcher Careers

More information

Institute of Philosophy

Institute of Philosophy Institute of Philosophy Study Programmes Discover KU Leuven Situated in the heart of Western Europe, KU Leuven has been a centre of learning for nearly six centuries. Today, it is Belgium s largest university.

More information

NEWS & VIEWS. Global Trustee and Fiduciary Services

NEWS & VIEWS. Global Trustee and Fiduciary Services 4 Can Asia Fund Passporting Emulate the Success of Europe s UCITS? A look at funds-passporting schemes announced across Asia and their chances of success. 13 Capital Markets Union: What Is It and What

More information

Teaching and Research in Finance in Switzerland

Teaching and Research in Finance in Switzerland Teaching and Research in Finance in Switzerland Paul Embrechts Deapartment of Nathematics Director RiskLab ETH Zurich www.math.ethz.ch/~embrechts I will only give a very brief overview and this mainly

More information

Developing Value Chain Leaders CAMELOT & the Mannheim Part-Time MBA

Developing Value Chain Leaders CAMELOT & the Mannheim Part-Time MBA Developing Value Chain Leaders CAMELOT & the Mannheim Statements The goal of our strategic partnership with CAMELOT is to develop value chain experts and leaders who make a difference to complement our

More information

2 September 2014. General comments

2 September 2014. General comments GFIA response to the IAIS Draft Procedures on Meeting Participation and the Development of Supervisory and Supporting Material and Draft Policy for Consultation of Stakeholders. General comments The Global

More information

How To Make A Trinity Phd More Structure

How To Make A Trinity Phd More Structure The Trinity PhD: How does excellence evolve? Dean of Graduate Studies, TCD February 4, 2009 1 Introduction While the title of PhD has been around for centuries, the first PhD as recognised today was awarded

More information

Teaching and Learning Strategy for UCL Computer Science. Stage 1: the narrative or vision

Teaching and Learning Strategy for UCL Computer Science. Stage 1: the narrative or vision LONDON S GLOBAL UNIVERSITY Teaching and Learning Strategy for UCL Computer Science Stage 1: the narrative or vision What does the department stand for? What does it want to achieve? What is it going to

More information

Aon Risk Solutions Global Risk Consulting Captive & Insurance Management. Cyber risk and the captive market - a match made in the cloud?

Aon Risk Solutions Global Risk Consulting Captive & Insurance Management. Cyber risk and the captive market - a match made in the cloud? Aon Risk Solutions Global Risk Consulting Captive & Insurance Management Cyber risk and the captive market - a match made in the cloud? With increasing news coverage of cyber-attacks and despite indications

More information

Professional Managers Annual Conference Adding value to business schools Programme

Professional Managers Annual Conference Adding value to business schools Programme Professional Managers Annual Conference Adding value to business schools Programme 3-4 December 2015, Regent s University London Professional Managers Annual Conference 2015 - Adding value to business

More information

European Pensions 2005 The Pursuit of Risk-Free Pensions

European Pensions 2005 The Pursuit of Risk-Free Pensions European Pensions 2005 The Pursuit of Risk-Free Pensions PROGRAMME A major two-day international conference organized in association with the European Federation for Retirement Provision Monday 11 April

More information

Mahmoud Mohieldin, Ph.D. Managing Director The World Bank, Washington D.C. Knowledge sharing for global development Building up new partnerships

Mahmoud Mohieldin, Ph.D. Managing Director The World Bank, Washington D.C. Knowledge sharing for global development Building up new partnerships Public Lecture Mahmoud Mohieldin, Ph.D. Managing Director The World Bank, Washington D.C. Knowledge sharing for global development Building up new partnerships 17 November 2011 17:00 h German Development

More information

BlackRock is pleased to have the opportunity to respond to the FCA Discussion Paper on the use of dealing commission regime.

BlackRock is pleased to have the opportunity to respond to the FCA Discussion Paper on the use of dealing commission regime. 31 October 2014 Wholesale Conduct Policy Team Financial Conduct Authority 25 The North Colonnade Canary Wharf London E14 5HS Submitted via email to: dp14-03@fca.org.uk RE: DP 14/03: Discussion on the use

More information

at London Business School Transforming Your Future Developing Leaders at Lloyd s

at London Business School Transforming Your Future Developing Leaders at Lloyd s at London Business School Transforming Your Future Developing Leaders at Lloyd s CONTENTS 2 Are you ready to take charge? 3 London Business School and Lloyd s 6 Have you got what it takes? 8 How it works

More information

Business School DBA The Professional Doctorate in Business Administration

Business School DBA The Professional Doctorate in Business Administration Business School DBA The Professional Doctorate in Business Administration Studied part-time, our DBA is the natural choice for experienced managers who wish to engage in the creation and interpretation

More information

Delegated authority: Outsourcing in the general insurance market

Delegated authority: Outsourcing in the general insurance market Financial Conduct Authority Delegated authority: Outsourcing in the general insurance market June 2015 Thematic Review TR15/7 Delegated authority: Outsourcing in the general insurance market TR15/7 Contents

More information

Address by Mark Burke, Head of Life Insurance Supervision to A future for the Life & Pensions Industry conference, Dublin, 31 January 2013

Address by Mark Burke, Head of Life Insurance Supervision to A future for the Life & Pensions Industry conference, Dublin, 31 January 2013 Address by Mark Burke, Head of Life Insurance Supervision to A future for the Life & Pensions Industry conference, Dublin, 31 January 2013 Introduction Good afternoon ladies and gentlemen. I am grateful

More information

Personal Non-Life Insurance Brokers in the UK

Personal Non-Life Insurance Brokers in the UK Personal Non-Life Insurance Brokers in the UK Report Prospectus July 2015 Finaccord Ltd., 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 1 Prospectus contents Page What is the research? What is

More information

Keynote Speech, EIB/IMF Meeting, 23 October, Brussels

Keynote Speech, EIB/IMF Meeting, 23 October, Brussels Keynote Speech, EIB/IMF Meeting, 23 October, Brussels Governor Carlos Costa Six years since the onset of the financial crisis in 2008, output levels in the EU are below those observed before the crisis.

More information

MSc Agricultural Economics

MSc Agricultural Economics Graduate Institute of International Development and Applied Economics (GIIDAE) MSc Agricultural Economics Understanding economic concepts and policies to promote world agricultural development 3 Postgraduate

More information

Consultation on the Regulation of Chief Risk Officer roles under the Solvency II regime Part 2 - Detailed considerations

Consultation on the Regulation of Chief Risk Officer roles under the Solvency II regime Part 2 - Detailed considerations Consultation on the Regulation of Chief Risk Officer roles under the Solvency II regime Part 2 - Detailed considerations by the Regulation Board Publication Date: 23 December 2014 Closing date: 23 February

More information