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 1-2 October 2013, London 08:30 GLOBAL LIFE AND P&C MARKETS OUTLOOK 09:00 KEYNOTE ADDRESS: Winning strategies for the future What will characterise the winning insurance company of tomorrow? What is a good business model? Which risks to keep and to hedge market, insurance or operational Which insurance lines are proving most profitable and how should the industry react? Thomas C. Wilson, Group Chief Risk Officer, ALLIANZ 09:40 Omnibus II: the political debate How the LTGA is shaping negotiations The view of MEP s as debate resumes The future direction of Solvency II and elements of a possible compromise 10:40 Morning break and opportunity to network STREAM 1: Regulation and strategic risk 11:00 PANEL: Readiness for EIOPA s interim measures National regulators and the implementation of the interim measures The interim challenge for insurers: ORSA, Pillar 3 reporting and Systems of Governance Interaction with current solvency regimes Thomas C. Wilson, Group Chief Risk Officer, ALLIANZ STREAM 2: Risk and capital management Capital management at leading insurers Risk transfer strategies to improve capital efficiency Ways to achieve diversification Restructuring as a capital management tool Capital structure and fungibility Managing multiple balance sheets: accounting vs economics
Raj Singh, Group Chief Risk Officer, STANDARD LIFE Jarl Kure, Project Leader-Interim Guidelines, EIOPA James Orr, PRA (TBC) 11:40 Lessons from ICAS+ Meeting ICAS+ requirements The risk management implications Convergence with Solvency II Lessons for other European countries James Orr, PRA ( topic TBC) 12:20 Call for papers Risk managing the next generation of savings products Characteristics of new products: features, guarantees and options Hedging structures Risk management challenges Scott Eason, Managing Director, Insurance and Pension Advisory, SOCIETE GENERALE 13:00 Lunch and opportunity to network 13:50 Leveraging your Solvency II Pillar 1 investments for strategic planning and critical scenario analysis Understanding what events will trigger a quarterly or annual loss How to improve your strategic business planning Practical steps to migrate from standard formula to a partial internal model creating the foundation for enhanced enterprise management Emmanuel Noblet, Chief Operating Officer, SECONDFLOOR 14:30 PANEL: North America and Europe: the equivalence debate Competition issues for EU insurers operating in major third-country markets that are not equivalent How can we encourage the USA, Canadian and European authorities to engage in constructive dialogue for the benefit of the European and global insurance industries? How can we buy time needed to resolve the equivalence issue in the context of globally converging regulatory standards Solvency 2, IAIS Comframe and the need for global solvency standards Eberhard Mueller, Chief Risk Officer, HANNOVER RE Bruce Porteous, Head of Solvency 2 Regulatory Development, STANDARD LIFE
15:10 The regulatory challenges affecting investment operations Emir and collateral requirements for OTC derivatives The effect of regulation on derivatives use Impact of EU financial transaction tax New approaches to managing longterm product guarantees Introduction: current challenges for insurers selling guarantee products De-risking traditional participating products Risk-management by product design in variable annuities Unit-linked guarantee products: Alternatives to variable annuities 15:50 Afternoon break and opportunity to network 16:10 PANEL: The Nordics experience using the Solvency II discount curve Mads Smith Hansen, Chief Financial Officer, SAMPENSION Jakob Carlsson, Chief Financial Officer, LÄNSFÖRSÄKRINGAR LIV Håkan Ljung, Group Chief Risk Officer, SKANDIA LIV Stress testing scenarios: best practice Stress testing models: what can be done better How stress testing sets overall risk measurement How stress testing works on Pillar 1 requirements Reverse stress testing 16:50 The challenge of risk management in a Solvency II world Jorg Sauren, ING Insurance Eurasia (TBC) 17:30 Networking reception Deriving full benefits from your data What is big data What makes big data different from business information How to use big data for your pricing, underwriting and claims How to use big data for your risk management and reporting Can an accurate data base ease the pressure of Solvency II and Basel III on your assets? Craig R. Taylor DAY 2: 2 nd October, London 08:00 Registration and refreshments
08:20 Chairman s opening remarks 08:30 KEYNOTE ADDRESS 09:00 CIO PANEL: Optimising risk and reward What is the best investment mix today? The great rotation to equities New asset classes Opportunities in illiquid assets Erik Ranberg, Chief Investment Officer, GJENSIDIGE FORSIKRING Mark Versey, Chief Investment Officer, FRIENDS LIFE 09:40 GUEST ADDRESS: ComFrame What is ComFrame and why is it important? Industry perspectives CROM perspectives Sean Ringsted, Chief Risk Officer and Chief Actuary, ACE GROUP; Chair of the North American CRO Council 10:40 Morning break and opportunity to network 11:00 Future-proofing your operational infrastructure How firms are responding to pressure on operational infrastructure Regulatory and data demands: Emir, Fatca, Solvency II Business pressures: implications of changing investment strategies Andrew Melville, EMEA Head of Insurance Product and Strategy, NORTHERN TRUST ( TBC) STREAM 1: Asset allocation and investment strategies 11:40 ALM and product design in emerging markets How far can product design take you? What are the challenges in asset liability management? 12:20 CASE STUDY: Building the infrastructure to invest in infrastructure, real estate and direct lending STREAM 2: Governance, ORSA and reporting Managing operational risks: a practical approach Embedding operational risk management within the organization Quantification and validation Caroline Grégoire, General Manager, Operational Risk and Risk Reporting, Group Risk Management, HANNOVER RE PRACTICAL INSIGHT: Governance and ORSA under EIOPA s guidelines Practical challenges of Orsa development Modelling the forward-looking balance sheet Utilising Orsa in decision-making
Jan Parner, Deputy Director General, THE DANISH FINANCIAL SUPERVISORY AUTHORITY 13:00 Lunch and opportunity to network 13:50 PANEL: Insurers as Europe s source of long-term funding The role of insurers in Europe s growth plan 2020 What needs to change to create deeper debt capital markets in Europe Long-term investment: real estate, infrastructure, private equity Securitization of bank loans and the risk of interconnectivity of banking and insurance Regulatory constraints and the treatment of long-term investment The availability of suitable investment products Moderator: Eric Viet, SOCIETE GENERALE 14:30 PANEL: Hedging risk and choosing the right business strategy Coping with conflicting prudential and accounting regulations, economic issues and volatility Combining regulatory requirements and business strategies to reduce market risk in the company Strategic versus tactical investment Capital management framework Reporting on investments The relationship challenges of asset data reporting Standardising asset data frameworks Improving efficiency of asset data reporting via third parties How to make internal use of reporting requirements Susan Wright, Senior Adviser, regulation, INVESTMENT MANAGEMENT ASSOCIATION Blaise Bourgeois, Life Chief Risk Officer, AXA GROUP Roger Dix, Chief Risk Officer, WESLEYAN ASSURANCE SOCIETY 15:10 Afternoon break and opportunity to network 15:30 CRO PANEL: The successful CRO and what makes a successful business model for an insurance company Bringing together projections of capital requirements, the ORSA process
and risk management Measuring risk in real time Challenges and opportunities for insurers on the road ahead Sue Kean, Chief Risk Officer, OLD MUTUAL GROUP Michel Dacorogna, Group Deputy Chief Risk Officer, SCOR Annette Olesen, Group Chief Risk Officer, NORDEA, LIFE & PENSIONS Vladislav Grigorov, Chief Risk Officer, SWISS LIFE Charles Garthwaite, Chief Risk Officer, AEGON (TBC) 16:10 GUEST SPEAKER: The systemic risks of insurers The role of the ESRB in European regulation The ESRB s view on the insurance sector The channels of contagion of insurers How to address systemic risks from insurers Jeroen Brinkhoff, Economist, EUROPEAN SYSTEMIC RISK BOARD 17:00 Chairman s closing remarks