08:00
Conference registration and refreshments
08:55
Chair’s opening comments
Ronan McCaughey, Deputy Editor and Commercial Editor, InsuranceERM
09:00
Keynote address: Are we approaching the next longevity shock?
- Lessons from major longevity reinsurance events over the past 30 years
- How have these influenced today's risk landscape and marketplace?
- Are we nearing another crucial trend risk turning point and what are the implications for market participants?
Kevin O'Regan, CEO Global Longevity & Chairman - Partner Reinsurance Europe SE, PartnerRe
09:20
Panel: The future of life re/insurance - New business models, innovation and opportunities
- How is the life re/insurance market developing and innovating globally with different types of business models and products?
- How has the growth of private equity and asset manager-owned re/insurers changed the dynamics of the life insurance industry?
- Structured reinsurance: capital generation and stabilisation with cost‑effective reinsurance structures – what works, challenges and the future
- How do structured solutions and asset-intensive reinsurance complement each other in practice - and where do they serve different purposes?
- How has mass lapse reinsurance changed over time in the way it is structured, priced and managed?
- What innovative solutions might be available to increase funding flexibility and attract new forms of capital for life insurance businesses?
Moderator: Martin Assmann, Reporter, InsuranceERM
Björn Schmolck, Head of Structured Reinsurance (EMEA), Canada Life Reinsurance
Grant Buchanan, Global Head of Life Reinsurance, Group Finance & Actuarial, Manulife
Tom Bulpitt, Director of DB Pricing and Reinsurance, Just Group
10:10
Panel: The evolution of funded reinsurance/asset intensive reinsurance - Opportunities and headwinds facing the market
- What are the drivers and constraints on the growth of funded reinsurance globally (including UK, North America, Asia and mainland Europe)?
- What are the key benefits and risks to cedants in using funded reinsurance?
- What are the most important considerations for a cedant around the structuring of the transaction (including collateral policy, recapture provisions and investment guidelines)?
- What should a robust and principled governance and risk management framework for funded re transactions look like?
- How will the PRA's proposal to change how the Counterparty Default Adjustment (CDA) is applied to funded reinsurance arrangements work in practice? What impact will it have on capital charges and the future use of funded re by UK life insurers?
- What further guidance/clarity would market participants like to see from their regulators?
Moderator: Xavier Solano, Head of Prudential Regulation, The ABI
Isaac Sanday, Global Head of Life and Health Broking, Price Forbes Re
Jamie Funnell, Head of Reinsurance Strategy, Pension Insurance Corporation
Stephan Erasmus, Head of Reinsurance and Capital Management, Legal & General
Vanessa Ho Von, Managing Director, Europe and Americas, Savings and Retirement, Pacific Life Re
11:00
Break
11:30
Fireside chat: Bermuda’s life reinsurance market - Innovation, expansion and regulation
- Bermuda's key role in helping close the retirement protection gap
- Bermuda's role in providing diversified risk management
- Regulations: Adapting and remaining fit for purpose
- Supporting responsible growth: Where does the market go from here?
Moderator: Ronan McCaughey, Deputy Editor and Commercial Editor, InsuranceERM
Joe Barrowclough, Chief Executive Officer, Gibraltar Re and Lotus Re and President - Bermuda Reinsurance, Prudential Financial Inc. and Board Member, BILTIR
11:50
Panel: Exploring risk transfer solutions to support growth
- How are insurers and reinsurers supporting growth with longevity and mortality risk transfer?
- How are assumptions, capital efficiency demands and innovations in structures shaping their strategic priorities?
- Back-book consolidation to help the focus on new product development: what is the outlook for consolidation of life back-books in the current market and regulatory environment?
Moderator: Joshua Geer, News Editor, InsuranceERM
Greg Wenzerul, Head of Strategic Life, Zurich UK
Jeetesh Patel, Head of Reinsurance & Structuring, Standard Life
Marc Meertens, Managing Director - Balance Sheet Management, Business Support and Analysis, NN Life & Pensions
12:40
Lunch
13:40
Panel: Spotlight on supervision - What are the regulators’ priorities for life insurance and reinsurance markets across different jurisdictions?
- What are the developments, trends and risks in the life insurance and reinsurance markets that most concern regulators - what are their top priorities?
- What are regulators concerns around the use of funded reinsurance and what steps are they taking to manage these? What does best practice look like for them?
- What concerns do regulators have around growth in the use of private credit?
- What are some best practices when dealing with your regulator - what are the keys for effective communication between supervisors and market participants? What factors are regulators balancing when they make their decisions?
- How are regulators' concerns about systemic risk evolving with new business models?
- How do regulators strike the balance between enabling industry innovation and ensuring policyholder protection in the life insurance and reinsurance markets (including insurtechs, product innovation, use of AI, new business models and capital)?
Moderator: Christopher Cundy, Managing Editor, InsuranceERM
Eugene Dimitriou, Deputy Director – Long-Term and Financial Risk, Supervision (Actuarial Services), Bermuda Monetary Authority
Judith L. French, Director, Ohio Department of Insurance & National Association of Insurance Commissioners
Petra Hielkema, Chairperson, EIOPA
Vicky White, Director of Insurance and Cross-Sectoral Policy, UK Prudential Regulation Authority
14:30
Panel: Gaining an investment edge - Asset management and the growth of private credit
- What trends and differences are we seeing in asset allocation strategies in life markets across the UK, US and mainland Europe?
- How are investment strategies adapting to current and expected market conditions – what opportunities and challenges do they pose?
- Unlocking the illiquidity premium - what are the benefits of private credit and other alternative assets for life insurers and reinsurers?
- What are their key risk characteristics and strategies to manage these? Are some of these risks being misconstrued?
- What are the essential components of effective sourcing and active management of private credit and alternative assets?
- How can life insurers' balance sheets be mobilised to support long term infrastructure investments while maintaining strong risk discipline and matching adjustment integrity?
Moderator: Angus Scorgie, Head of Prudential Regulation & International Affairs, Insurance Europe
Corrado Pistarino, Chief Investment Officer, Foresters Friendly Society
Prasun Mathur, Head of Private Assets, Chief Investment Office, Aviva
Sarah C. Kessler, Partner, Finance, Willkie Farr & Gallagher
Sumit Mehta, Head of Strategy, Legal & General
15:20
Coffee break
15:50
Fireside chat: International life re/insurance – trends and opportunities in the US market
Moderator: Ronan McCaughey, Deputy Editor and Commercial Editor, InsuranceERM
David Chavern, President and CEO, American Council of Life Insurers (ACLI)
16:10
Panel: The future of pension risk transfer and bulk purchase annuity markets
- What is the outlook, drivers and constraints for pension risk transfer markets in the UK and globally? How are Bulk Purchase Annuity (BPA) markets being shaped by international capital, new entrants, increased capacity and competition?
- How can insurers build the scale, capital partnerships and investment frameworks needed to support ever larger and more complex pension de risking transactions?
- What approaches are different BPA providers taking towards the use of funded reinsurance and why? What impact will the PRA's proposals to change how funded re arrangements are valued as reinsurance assets have on the BPA market?
- What impact are constraints on availability of assets having on the PRT market?
- How do BPA providers ensure their risk frameworks and controls are sufficiently robust to manage the risks and meet regulatory expectations?
- What innovative transactions are we seeing in the market? Will the Rothesay/NEST collaboration provide a template to develop further insurance solutions for DC schemes in the UK and globally?
Moderator: Anna Sagar, Associate Editor, InsuranceERM
Claire Altman, Managing Director of Pensions Risk Transfer & Individual Retirement, Standard Life
Dominic Carpenter, Strategy and Commercial Director, Bulk Purchase Annuities, Canada Life
Gareth Haslip, Global Head of Insurance Strategy & Analytics, J.P. Morgan Asset Management
Matthew Ford, Principal - Life and Financial Services, Milliman
Sammy Cooper-Smith, Head of Business Development, Rothesay
17:00
Chair’s closing remarks
17:05
End of the conference followed by drinks reception