Insurance Risk & Capital Bermuda 2018

REGISTRATION AND MORNING COFFEE

WELCOME AND OPENING REMARKS

Jereme Ramsay, Interim Head of Business Development, BERMUDA BUSINESS DEVELOPMENT AGENCY
Hon. David Burt, JP, MP, Premier, Government of Bermuda

KEYNOTE – SHAPING UP FOR A NEW MACROECONOMIC ENVIRONMENT

• General overview of the global economy
• How are the current macroeconomic trends affecting the global insurance and reinsurance market?
• General state of the market in Bermuda and expected changes in the next 5 years

Speaker:

Yue Ma, Chief Economist / Head of Economic Unit, Global Credit and Surety, QBE NORTH AMERICA 

REGULATORY PANEL DISCUSSION: HOW HAVE THE LATEST REGULATIONS CHANGED THE INDUSTRY AND HOW CAN WE BE BEST PREPARED FOR NEW ONES?

• Quick overview of the regulatory and legislative updates that took place this year and how they impacted on the Bermuda re/insurance industry
• BEAT tax
• Initial Coin Offering Legislation
• Digital assets regulatory framework
• How are insurers planning for the upcoming new regulations?
• Is your business prepared for the PIPA implementation? What are the lessons learnt from GDPR in Europe?
• How do businesses maintain control over their data security?
• Discussing BMA's views on the upcoming changes to the capital framework
• Understanding the importance of governance and control – tackling the rising regulatory burden; What is the right balance of governance? Who should govern the companies in Bermuda which have a parent company in another country?

Panellists:

Stephen Weinstein, Group General Counsel and Chief Compliance Officer, RENAISSANCE RE
Ted Nickel, Commissioner of Insurance, STATE OF WISCONSIN, NAIC Most Recent Past President
Susan Molineux, CPA, Associate Director, AM BEST
Ricardo Garcia, Chief Actuary, Bermuda Monetary Authority
Anna Sweeney, Director of Insurance Supervision, Prudential Regulation Authority

Moderator: Chris Cundy, Managing Editor, InsuranceERM  

PRESENTATION – HOW A GOOD RISK MANAGEMENT FRAMEWORK CAN GIVE YOU A TANGIBLE RETURN

Speakers: 

Dr Wendy Mathie, Product owner for ReMetrica, Aon
Séadna Kirwan, Risk Advisory Director, Aon

PRESENTATION: GROWTH OF THE LIFE INSURANCE MARKET IN BERMUDA

• A comparison of the life insurance market in Bermuda to other countries
• What is fuelling the growth of the life insurance market in Bermuda?
• How does the general insurers' move into life insurance change the shape of the industry in Bermuda?
• What are the opportunities and risks?
• ILS in the Life Industry in Bermuda
• Capital Structures for Life – how do you marry different capital to the life re/insurance

Speaker: Thomas Olunloyo, CEO, LEGAL AND GENERAL RE

PANEL DISCUSSION: DISCUSSING THE LATEST TRENDS AND MARKET CHANGES

• What are the risks associated with the increased M&A activity this year?
• What are the challenges from a political perspective and how might these impact on the global economy and re/insurance market?

Panellists:

Iain Forrester,Head of Insurance Investment Strategy, Global Investment Solutions, AVIVA INVESTORS
Gokul Sudarsana,Senior Manager - Actuarial Consulting Practice, DELOITTE
Marcus Foley, CRO, ASPEN BERMUDA LIMITED
Timothy Gasaatura, Latin America and Carribean Risk Officer, AIG

Moderator: Tracey Gibbons, Senior VP Specialty Reinsurance, ALLIED WORLD RE

KEYNOTE: DISRUPTION/ INNOVATION/ MODERNISATION OF THE RE/INSURANCE – SEEING LIGHTHOUSES THROUGH THE FOG

• Who is driving the change and the changes and how will they affect you?
• Discuss how start insurtech, big tech and new challengers are introducing innovation based new business models and what can re/insurers learn from these new challengers
• Managing the risks from the changes and remaining relevant in the future
• Regulation - protective barrier or holding back innovation

Raj Singh, CEO, Accredere AG and Formerly CRO Standard Life

PANEL DISCUSSION – DIGITISATION AND THE IMPACT ON THE RE/INSURANCE MARKET

• When new technologies come in, how do you understand the talent required and the risk of these new technologies?
• What is the impact of emerging technologies on the re/insurance market and their relevance to risk and capital:
• Blockchain
• AI and machine learning
• Robotics and process automation
•  Drones
• Containerization and microservices
• Data

Panellists:

Hanni Ali, VP Risk & Analytics, HAMILTON RE
Jay Rajendra, Chief Analytics Officer, ARCH CAPITAL GROUP
Sandra DeSilva, CEO and Chief Software Architect, NOVA

Moderator: Kateryna Gorbunova, Senior Manager, EY

PANEL DISCUSSION: CYBER RE/INSURANCE RISK – CHALLENGES AND OPPORTUNITIES

• Going back to basics and defining Cyber Risk- what is it all about?
• Tips for understanding cyber risk – What are the techniques to calculate cyber risk? How are we quantifying cyber risk?
• Underwriting and modelling the risk on cyber
• Keeping up with the more sophisticated cyber threats and developing new approaches to modelling risk
• The world of cyber is mainly developed in the UK and US, but what is the Bermudian experience? Showcasing what Bermuda can do.

Panellists:

Ari Chatterjee, Chief Underwriting Officer, ENVELOP RISK
Jessica Cardoso, VP, Professional Liability, MARKEL ASSURANCE
John Masters, Assistant VP AIG Bermuda, Financial Line – Cyber Product Lead, AIG
Noel Pearman, SVP and Cyber Product Lead, XL CATLIN

Moderator: Brett Henshilwood, Partner, DELOITTE

CEO PANEL DISCUSSION: WHAT THE FUTURE RE/INSURANCE LANDSCAPE LOOKS LIKE

• Current risks exposures and how companies are mitigating these risks [e.g. cybersecurity, regulatory change, global economy]
• Emerging risks on the horizon, e.g. speed of technological change, future workforce, new products for the millennials
• Strategies to drive profitability and growth over the next 12 months

Panellists:

Amy Ponnampalam, CEO, ATHORA LIFE RE
Chantal Cardinez, CEO, HANNOVER LIFE REASSURANCE
Chip Gillis, CEO, ATHENE LIFE RE
John Wight, President and CEO, BF&M
Kathleen Faries, Head of Bermuda, Tokio Millenium

Moderator:
Sylvia Oliveira, CEO, WILTON RE

CLOSING KEYNOTE – ABIR’S VISION ON THE INDUSTRY’S EXCITING FUTURE

• Bermuda's role as one of the leading underwriting hubs
• Leveraging the opportunities in technology and international investment
• ABIR's efforts to enhance Bermuda's leadership in the global marketplace and ensure its continued competitiveness

Speaker: John Huff, President and CEO, ABIR

CLOSING REMARKS, FOLLOWED BY NETWORKING DRINKS RECEPTION