Solvency II & Risk Management 2010

08:20 Registration and refreshments

08:50 Chairman’s opening remarks

09:00 PANEL
Assessing the effect of Solvency II on the market
• Examining the calibration of QIS 5
• Own funds, expected future profits and the definition of Tier 1 capital
• SMEs, mutuals and proportionality
• Ensuring increased consumer protection doesn’t lead to increased costs or decreased choice for consumers

Moderator: Carlos Montalvo Rebuelta, Secretary General, CEIOPS
Bruce Porteous, Head of Solvency II & Regulatory Development, Standard Life
Gregor Pozniak, Secretary General, AMICE
Charlotte Russell, Policy Officer, European Commission
Raj Singh, Chief Risk Officer, Swiss Re

09:40 Developing an internal model: a case study
• Examining the challenges and benefits of building an internal model for Solvency II
• Managing implementation costs
• Early indications of what QIS 5 results might look like
• What impact has the model had on risk management within the company?
Speaker to be confirmed

10:20 Morning break

10:50 Who benefits from Pillar II?: a supervisor’s view
• What does the supervisor expect and what can you expect from the supervisor?
• Why governance in insurance is something special
• The thinking of risk management and the ORSA process
• Pillar II and crisis management: a story from the financial crisis

Jan Parner, Chair of Solvency II Internal Governance, Supervisory Review and Reporting Expert Group, CEIOPS

11:30 Identifying, assessing and managing risk: building an holistic risk management framework
• Improving risk management through ERM
• Stress tests and capital plans
• Meeting the requirements of the use test
• Examining the risk management framework in place at Swiss Re

Raj Singh, Chief Risk Officer, Swiss Re

12:10 Developing market data management processes to meet the internal modelling requirements of Solvency II
• Understanding the requirements of Solvency II
• Establishing controls around the collection and storage of data and expert assumptions
• Validation of inputs and final outputs
• Developing an integrated framework for data management and model calibration

John Hibbert, Director, Barrie & Hibbert

12:50 Lunch

13:50 Lessons from the FSA Solvency II pilot scheme
• Developing an internal model: challenges, costs and benefits
• Dealing with the supervisor: what to expect
• Setting your priorities when preparing for Solvency II
• Examining the lessons learnt

Jon MacDonald, Group Risk Director, RSA

14:30 Assessing the latest political updates for Solvency II
• Level 2 discussions: where are we with the directive?
• Level 3 advice
• Timelines for the development and implementation of Solvency II
• What can the industry expect next?

Charlotte Russell, Seconded National Expert, European Commission

15:10 Reporting and disclosure: the challenges and opportunities of Pillar 3
• Examining the scope of Pillar 3 requirements
• Developing a strategy for disclosure and supervisory reporting
• How to prepare internally: increased need for automatisation and standardisation
• Assessing the impact increased public disclosure will have on your company
• Beyond compliance: Pillar 3 as an opportunity to enhance communication with regulators and the market

Isabella Mammerler, Head of Risk, Wüstenrot Versicherungs AG

15:50 Afternoon break

16:20 Developing countercyclical measures for Solvency II
• Illiquidity premiums
• Risk-free rates
• How will the equity dampener work in practice?
• Ensuring that the economic basis for Solvency II is maintained

Peter Vipond, Director, Financial Regulation & Taxation, Association of British Insurers

17:00 PANEL
Preparing for 2012: will the industry and supervisors be ready?
• Assessing how preparations for Solvency II within the industry are going
• Will supervisors be adequately prepared to assess internal models?
• Will there be sufficient time after Level 3 is finalised to implement all the requirements?
• What should the industry and supervisors be doing to prepare?

Moderator: Neil Cantle, Principal, Milliman

Renzo Avesani, Chief Risk Officer, Unipol Gruppo Finanziario
Isabella Mammerler, Head of Risk, Wüstenrot Versicherungs AG
Thaddeus Nyahasha, Director of Group Solvency, Aviva
Gregor Pozniak, Secretary General, AMICE

17:40 Chairman’s closing remarks

17:50 Drinks reception