Insurance Risk & Capital Asia 2020

KEYNOTE ADDRESS

CRO ROUNDTABLE: MEETING STRINGENT REGULATORY REQUIREMENTS –THE CRO’S STRATEGIC RESPONSE

• Compliance at what cost - will the introduction of stringent new regulation create a wave of consolidation and what will this mean for market dynamics?
• Perceived impacts of regulation on:
• The solvency position
• Operational and decision making processes
• Response to QIS 3 results
• The risk management skill set of the future - how is regulation set to shape the role of the risk function & the risk management framework?
• Building an ERM team – what skills are you going to need in place?
• The role of the risk team within the organisation
• What does an effective and compliant enterprise risk management framework look like?
• Embedding an effective risk culture
• Meeting regulatory expectations on conduct risk
• Using good ERM practices to shape and steer business decisions

Benny Cheung, Chief Risk Officer, HSBC Insurance (Asia) Limited, (Subject to final confirmation)
Jonathan Tang, Senior Regulatory Officer, VP, Group Risk Management, Swiss Re
Kai Lee Tse, Chief Risk Officer, QBE Insurance

PRESENTATION: DEVELOPING THE ORSA INTO A STRATEGIC, EFFECTIVE BUSINESS TOOL

Paul Davis, Regional Chief Financial Officer, Asia Pacific, Allianz Global Corporate and Specialty

PANEL DISCUSSION: DEVELOPING SCENARIO PLANNING AND STRESS TESTING PRACTICES AS PART OF AN EFFECTIVE ERM STRATEGY

Bong Choi, Head of Financial Risk Management, Axa Hong Kong and Macau
Christian Bettels, Regional Head, Risk Analytics, Asia, Generali Asia
Shoaib Hussain, Group Director, Head of Strategic Risk, AIA

12:00 INTEGRATING CLIMATE SCIENCE WITH INVESTMENT MANAGEMENT

• Exclusive partnership with Woods Hole Research Center
• How effective are climate models?
• Is the market really mispricing climate risk?
• Which physical climate risks are insurers exposed to?
• Climate risks in emerging markets and the implications for Asian insurers
• Risk mitigation beyond divestment
• Utilizing climate risk through the strategic asset allocation lens

Speaker: Tim Antonelli, CFA, FRM – Insurance Portfolio Strategist, Wellington Management

PANEL: IMPLEMENTING AN INTEGRATED RISK FINANCE FRAMEWORK – WHAT UNIQUE OPERATIONAL AND RISK CHALLENGES DOES THE PARALLEL ADOPTION OF IFRS 17 AND HK RBC RAISE AND HOW ARE FIRMS TACKLING THIS?

• Project planning – from an operational perspective, how are firms managing to organize and deliver both IFRS and RBC?
• Interaction between HK RBC and IFRS 17 – understanding the synergies and conflicts
• Leveraging between IFRS 17 and HK RBC where are where are the opportunities to align the 2 projects? What might be the interdependencies?
• Integrated streamlined reporting
• Resourcing challenges – how do you acquire the necessary skill sets to handle these significant changes to the operating environment and to effectively implement financial transformation programmes?
• How do you foster an environment of greater collaboration, effective cross-functional communication and teamwork? Working out the best approach for your firm
• To what extent is it Ok to rely on 3rd party consultants and what happens when they run out of capacity?

Alain Béland, Head IFRS Implementation Asia, Swiss Re
David Menezes, Director, Peak Re

PRESENTATION: PRACTICAL OBSERVATIONS FROM IFRS 17 SYSTEMS AND SOFTWARE IMPLEMENTATION AND DATA INTEGRATION

• Investing in IFRS 17 software – key considerations
• Build vs. buy – weighing up the pros and cons
• Things to look out for in choosing your software provider
• How are firms implementing software successfully and how are they dealing with the detailed questions that come up?
• What have firms found to be the most effective approach to data gathering and data consolidation?
• Overcoming challenges posed by legacy systems
• Ensuring appropriate data quality and granularity

PANEL DISCUSSION: BUSINESS STEERING IN A POST IFRS 17/HK RBC WORLD

• Which new metrics and KPIs will establish as a result of the new frameworks?
• With an increasing number of measures at your disposal, how will you now steer the company within these new frameworks?
• Implications on ALM strategies
• Implementing an ALM strategy
• What does best practice look like?
• Resourcing and skill set considerations
• Key challenges/considerations
• Approaches to calculating the discount rate
• Filling the duration gap between assets and liabilities
• What impact can we expect on product trends on the liability side?
• Rise of unit-linked products?

Alexander Wong, Chief Actuary, HSBC Insurance
J Peter Duran, Group Senior Actuary, AIA Group
Richard Chan, HK and Asia Head of ALM and Investment Monitoring, Axa
Tao Xing, BOC Group Life Assurance
Moderator: Fiona Chau, Director, KPMG Hong Kong 

PANEL DISCUSSION: FEEDBACK AND LESSONS LEARNED FROM SII IMPLEMENTATION IN EUROPE

• What impact if any did the introduction of SII have on investment decisions and allocations?
• Can we expect similar changes as a result of HK RBC?

Fanda Ho, Director, Investments, Prudential
Olivier Trecco, Client Portfolio Management | NIM Solutions, Natixis Investment Managers
Yong Li, Group Director, ALM, FWD

CIO ROUNDTABLE: STRATEGIC RESPONSES TO UNIQUE GEOPOLITICAL AND MACRO-ECONOMIC CHALLENGES AGAINST A BACKDROP OF SIGNIFICANT REGULATORY REFORM

How is the HK CIO dealing with macro-economic challenges alongside the huge challenge that HK RBC and HK IFRS 17 brings?

• How to be innovative to counter lack of long dated local assets and regulatory constraints on investments
• How is the role of the CIO set to change with the introduction of HK RBC?
• With a greater emphasis on effective asset-liability management strategies, what new skills and approaches will be required of the CIO?
• What impact will RBC have on the way insurers invest and the type of assets they look for?
• Will RBC mean that insurers need to significantly restructure their assets or turn to 3rd party asset managers?
• How will derivative hedging strategies be influence?

Alvin Loh, Chief Investment Officer, AIA International
Ben Rudd, Chief Investment Officer, Prudential Hong Kong
Jethro Goodchild, Chief Investment Officer, FWD (subject to final confirmation)
William Chan, Chief Investment Officer, HSBC Insurance, Hong Kong
Moderator: Vinaya Sharma, Actuary and Managing Director, QRM