Programme

Solvency II & Risk Management 2011

08:00 Registration and refreshments

08:40 Chairman’s opening remarks: Michael Faulkner, Editor, LIFE AND PENSION RISK

08:50 PANEL DISCUSSION: Progress and challenges with internal model development and approval

The biggest hurdles in the pre-application process
Validating internal models within the Solvency II
Comparing the costs and strategic benefits of developing the internal model
Best practices and lessons learned

Moderator: Martin Bradley, Global Solvency II Leader, ERNST & YOUNG
Carlos Montalvo, Executive Director, EIOPA
Jorg Sauren, Senior Advisor on Internal Model / Solvency II, ING GROUP
Sue Kean, Head of Governance and Regulatory Compliance, OLD MUTUAL GROUP
Kevin Borrett, Head of Risk, UNUM

09:40 Panel discussion: Lessons learned from Pillar 1 and what to do different on Pillars 2 and 3

Scope and cost control
Flexibility of approach so that things can be added, changed or deleted with the changing Regulations
Doing things for the first time...ever

Moderator: Michael Faulkner, Editor, LIFE AND PENSION RISK
Sanjay Kaul, Risk and Regulation Lead, LOGICA, UK
Craig Taylor, Solvency II Internal Model Lead, TRAVELERS
Thomas Wilson, CRO, ALLIANZ SE

10:10 Keynote presentation: Maximising the business benefit of Solvency II

Which challenges and questions remain unanswered?
What to be planning now in order to ensure deadlines are met?
How to ensure it is more than just a "regulatory exercise"?

Thomas Wilson, CRO, ALLIANZ SE

10:40 Morning refreshments

11:00 A regulators perspective on the standard formula and internal models

Standard formula or standard model?
Internal models and the Solvency 2 Pillars: where they belong?
Is there a future without an internal model?
The future role of EIOPA

Carlos Montalvo, Executive Director, EIOPA

11:30 Designing Workflow, Governance and Reporting for Solvency II

Key design considerations
Common business requirements and implementation challenges
Lessons learned from working with leading European insurers

Andrew Aziz, Executive Vice President - Buy Side Solutions, ALGORITHMICS

12:00 Omnibus II and a lengthy transition to Solvency II - what does it mean for the industry?

What are the impacts of changes that have been negotiated?
Is the time frame outlined realistic for the insurance industry?
Is it a ratings-positive for smaller insurers and niche players?
Latest developments and transitional measures

Patricia Plas, Senior Vice President - Public Policy & Regulatory Affairs, AEGON NV

12:30 The new reporting regime: why it's a game changer

Victoria Raffe, Head of Prudential Insurance Policy, FSA

13:00 Lunch

13:50 Networking roundtables

Roundtable 1: ILS - Will Solvency II drive a resurgence in the ILS market? Hosted by Michael Faulkner, Editor, LIFE AND PENSION RISK

Roundtable 2: Analysing the implications for third countries: the issues of equivalence and competitiveness. Hosted by Bruce Porteous, Head of Solvency 2 and Regulatory Development, STANDARD LIFE

Roundtable 3: Impact of Solvency II on product design
Hosted by Roger Dix, Chief Risk Officer, AVIVA UK LIFE

Roundtable 4: Doing things again and again: ensuring outcomes are used in the next decision cycles. Hosted by Craig Taylor, Solvency II Internal Model Lead, TRAVELERS

Roundtable 5: The data imperatives for Solvency II: how do you create a compliant Solvency II Data Management framework. Hosted by Colin Rickard, Business Development Director, SAS DATAFLUX EUROPE

Roundtable 6: Governance. Hosted by Victoria Raffe, Head of Prudential Insurance Policy, FSA

14:50 The risk appetite framework under the solvency work

Emmanuel Van Grimbergen, Group Risk Officer, AGEAS

15:20 Afternoon break

15:40 Focus on Pillar 2 - the ORSA according to industry figures and regulators

How is it being implemented in a company and what does the supervisor expect?
Learning from a good ORSA draft

Craig Taylor, Solvency II Internal Model Lead, TRAVELERS

16:10 Solvency II solutions - some perspectives on economic capital under Solvency II

Back to basics - how is principle-based economic capital estimated in theory?
How does this compare with emerging Solvency II outcomes
Understanding the fundamental tension between Solvency II's objectives
Challenges and choices for regulators and firms - politics or economics?

John Hibbert, Co-founder and Director, BARRIE AND HIBBERT

16:40 PANEL DISUCUSSION: Assessing the impact of Solvency II on asset allocation

Impact of regulation and market turbulence on annuity fund investment strategies
Is there evidence of changed patterns of behaviour within the credit market?
The discounting of liabilities and the future of the industry
How prepared are outsourced asset managers to deal with Solvency II?

Moderator: David Greene, Managing Director, CONNING
Bruce Porteous, Head of Solvency 2 and Regulatory Development, STANDARD LIFE
Randle Williams, Group Investment Actuary, LEGAL & GENERAL GROUP
Toby Ducker, Solvency II Programme Director, BRIT INSURANCE

17:20 Chairman’s closing remarks

17:30 Cocktail reception