March 1st 2012
- Hotel Russell, London
IN A NEW WORLD OF UNCERTAINTY, HOW CAN THE INSURANCE INDUSTRY PLAY A MORE ACTIVE ROLE IN PROTECTING SOCIETY?
Blighted by natural disasters, catastrophic events and financial crisis, the insurance industry has been stretched to meet commitments laid down in policy. Add to this, the regulatory and political reforms that lurk on the horizon and the imperative for new strategies and new thinking for British and European insurers’ becomes very real.
In the past, it was the sole responsibility of governments to recognise, evaluate and confront the risks which society faced. Today however, we see increasing division and confusion over what is deemed public and private responsibility. What role should the insurance industry play in soceity today?
Over 120 leading stakeholders from across the industry - government, insurers, regulators, media and influential thinkers met at this one-day summit to discuss what this 'new role in society' could look like. They challenged existing viewpoints and unlocked fresh perspectives for our delegates.
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This event was accredited by the CII and can be included as part of your CII CPD requirement should you consider it relevant to your professional development needs. |
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| 08.15 | REGISTRATION AND REFRESHMENTS |
| 09.00 | WELCOME AND CHAIR'S OPENING REMARKS Barbara Ridpath, Chief Executive, International Centre for Financial Regulation |
| REDEFINING INSURANCE IN SOCIETY |
| 09.05 | REDEFINING INSURANCE IN SOCIETY Andrew Moss, Group Chief Executive, Aviva |
| 09.45 | TOWARDS REGULATORY HARMONY? 09.45 INDUSTRY Otto Thoresen, Director General, The Association of British Insurers 09.55 REGULATOR Carlos Montalvo, Executive Director, European Insurance and Occupational Pensions Authority 10.05 POLICY Peter Skinner, Rapporteur for Solvency II and Member of the Economic and Monetary Affairs Committee, European Parliament Reacting to regulation 10.15 CONSUMER Jeff Prestridge, Personal Finance Editor, Mail on Sunday 10.25 A VIEW FROM THE CAPITAL MARKETS Michael Cole-Fontayn, Chairman, Europe, Middle East and Africa, BNY Mellon 10.35 Questions and discussion with the audience |
| 11.00 | COFFEE BREAK |
| 11.30 | UK INSURANCE GOES GLOBAL Simon Lee, Chief Executive Officer, RSA Insurance |
| 12.00 | POLITICS RISKS IN NEW AND DYNAMIC MARKETS |
| 12.30 | COMPENSATION CULTURE UK: Confronting the crisis Jonathan Djanogly MP, Parliamentary Under-Secretary of State, Ministry of Justice |
| 12.55 | LUNCH |
The afternoon’s sessions will divide into two separate streams. Stream A will focus upon the latest innovations in business strategy, spanning talent recruitment, social communications and sustainable, resilient business models. Stream B will take a closer look at some of the key policy developments that are looking to shape the industry over the near future. |
| 14.00 |
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| 15.00 | COFFEE BREAK |
| 15.20 |
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| 16.20 | CLOSING KEYNOTE ADDRESS: Re/Insurance and the Modelled World - the new rules of the game Keynote introduction and moderator: Rowan Douglas, Chief Executive Officer Global Analytics, Willis Research Network Panellists: Mark Coleman, Analytical Manager and Director, European Financial Services Ratings, Standard and Poor's Andrew Hitchcox, Chief Risk Officer, Kiln Group Robert Muir Wood, Chief Research Officer, RMS |
| 16.55 | CHAIR'S CLOSING REMARKS Barbara Ridpath, Chief Executive, International Centre for Financial Regulation |
| 17.00 | DRINKS RECEPTION: Sponsored by BNY Mellon |
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Barbara Ridpath, Chief Executive, International Centre of Financial Regulations
Now as Chief Executive of the International Centre for Financial Regulation, Barbara is committed to leading the independent, non-partisan analysis of global financial regulation; a great chair to moderate our lively discussions.
Andrew Moss, Group Chief Executive, Aviva
As the head of one of the leading insurers in Europe and overseeing a great deal of transformation, Andrew will highlight what he sees as the future strategies and opportunities for transformation within the UK Insurance industry.
Otto Thoresen, Director General, The Association of British Insurers
Otto has been one of the industry’s leading figures, advising government and regulators on consumer issues and playing a key role as intermediary between the industry, government and consumer. He joins the discussion on achieving regulatory harmony.
Carlos Montalvo, Executive Director, European Insurance and Occupational Pensions Authority
As the designated supervisory system for pensions and insurance regulation within Europe, the EIOPA has to oversee the implementation of key regulatory reform, including Solvency II. Join discussions on future plans for regulatory reform.
Jeff Prestridge, Personal Finance Editor, Mail on Sunday
Jeff is personal finance editor of the Mail on Sunday. Over the years Jeff has campaigned on a whole range of personal finance issues. Few companies have escaped Jeff's wrath and most quake in their boots when he's on the warpath.
Michael Cole-Fontayn, Chairman, Europe, Middle East and Africa, BNY Mellon
Michael is a member of BNY Mellon's executive committee and is CEO of the Depositary Receipts Division. During his time with the company he has worked on many DR equity raising transactions, including numerous privatisations and equity offerings.
Andrew Palmer, Finance Editor, Business Affairs, The Economist
Having gained extensive experience as The Economist's Banking Correspondent, management correspondent and more recently the Finance Editor, Andrew has become a leading commentator on the financial services industry.
Simon Lee, Chief Executive Officer, RSA Insurance
The man responsible for RSA's massive growth into emerging markets offers insight on some of the key dynamics that will be shaping emerging markets and how the UK Insurance industry can effectively expand and compete abroad.
Andrew Kendrick, Chairman, ACE European Group
Andrew has spent nearly 35 years in the insurance industry. Today, he oversees the UK, Europe, Middle East and North Africa operations of ACE, one of the world’s largest providers of commercial property and casualty insurance.
Parag Khanna, Senior Research Fellow, New America Foundation
Join Parag to uncover some of the emerging political risks bubbling under the surface of contemporary global affairs. If you are responsible for global operations, then this presentation could make a real difference to your business.
Jonathan Djanogly MP, Parliamentary Under-Secretary of State, Ministry of Justice
Jonathan's appointment as Parliamentary Under-Secretary of State for Justice has placed him at the centre of the debate on referral fees. Join him as he provides an update on crucial regulatory reform.
Monica Woodley, Senior Editor, Economist Intelligence Unit
Monica works on a range of bespoke research programmes for the EIU, with a focus on the financial services industry.
Hansjörg Germann, Head of Strategy Development, Zurich Investment Management
Hansjörg is responsible for all aspects of the strategic asset allocation for the Zurich group’s investment portfolio. Join him as he analyses the decisions necessary for successful strategic investment in a post Solvency II environment.
John Roe, Head of Strategic Investment and Risk Management, Legal and General Investment Management
John's role in the future investment of Legal and General Investment Management's extensive assets (c.£350bn) means he is very prominent on Solvency II. He joins the session on 'Profitable investment in an uncertain world'.
Tom Standage, Digital Editor, The Economist
Tom's speciality is the use of historical analogy in science, technology and business writing. He is currently the editor of The Economist digital output (the website, mobile apps, etc) and also edits Technology Quarterly.
Amanda Mackenzie, Chief Marketing and Communications Officer, Aviva
Amanda is regarded as one of the most respected and most experienced marketers within the UK. She was placed at number 10 in the Power 100 list of the top marketers in the country and has just recently been named President of the Marketing Society.
Pete Markey, Chief Marketing Officer, RSA
With responsibility for all UK Marketing across the RSA and MORE TH>N brands, as well as sharing marketing best practice globally across the RSA group, Pete is at the forefront of insurance marketing.
Abhik Sen, Managing Editor, Industry and Management Research, Economist Intelligence Unit
Having previously managed the coverage of global business and finance at Bloomberg and commentated for the BBC and The Times, Abhik has gained years of experience examining the evolution of financial markets and service industries.
Emma Howard Boyd, Head of Sustainable Investment and Governance Director, Jupiter
Emma is a leading authority on the role markets, industries and organisations can play in enhancing their environmental sustainability and corporate governance. Emma brings a wealth of experience to the debate.
Robert Guest, Business Editor, The Economist
Robert Guest oversees The Economist’s global business coverage. His previous role was Washington Correspondent and Lexington columnist covering American news and politics.
Russell Higginbotham, Chief Executive Officer, SwissRe Europe, UK
Russell will explore some of the key challenges facing the UK industry and how insurance organisations can best prepare for what is shaping up to be one of the defining challenges for all contemporary organisations; recruiting and retaining talent.
Jackie Lanham, Director, Group Resourcing and Development, Co-operative Group
Jackie has led the Co-operative’s award winning resourcing department since 2009. Prior to this, Jackie was Director of Leadership and Development at Aviva. She provides insight on the unique challenges facing the UK insurance industry.
Julian James, Chief Executive Officer, Lockton Companies
Julian was recently elected as President of the Chartered Insurance Institute. He provides insights on how to distinguish your company’s reputation, profile and practice to find and keep the best talent.
Rowan Douglas, CEO Global Analytics; Chairman, Willis Group;Willis Research Network
Rowan is a leading expert on modelling catastrophic risk. Solvency II demands that senior management must know about their risk modelling profiles. Rowan, together with other panellists will show you how to become a master of the modelled world.
Mark Coleman, Analytical Manager and Director, European Financial Services Ratings, Standard and Poors
Mark will be talking about the impact modelling software has had upon the credit rating of insurance organisations - a really significant issue amongst insurance companies at the moment.
Andrew Hitchcox, Chief Risk Officer, Kiln Group
Andrew is one of the most highly respected of the insurance risk officers and works for one of the most specialised, catastrophe focussed insurance groups.
He speaks on the modelling and how this impacts insurance practice.
Robert Muir-Wood, Chief Research Officer, RMS
Dr Muir-Wood has more than 20 years of experience developing probabilistic catastrophe models and has collaborated with the insurance industry over the past 15 years. He'll examine the future of catastrophe modelling and how it governs the industry.
Charles Garthwaite, Chief Risk Officer, Aegon
Charles joins the panel on resilience, sustainability and reputation - strategies firms can employ to help manage spill over of bad publicity. He joined Aegon in 2010, having founded Assent Financial, a buyout and restructuring vehicle in 2008.
Justin Hunt, Founder, ItsOpen
Justin joins our dynamic session 'Social Media and its discontents'. He used to be a new media commentator for The Guardian newspaper. He has written for The Financial Times about social media; and now writes a blog, called ‘Bloggerati’.
Gareth Haslip, Head of Risk and Capital Strategy, Aon Benfield
Gareth has been a Solvency II expert at Aon Benfield since October 2010. Previous to this he was working with Solvency II at Goldman Sachs where he was advising insurance clients on optimal investment strategies under the Solvency II framework.
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Over 100 senior executives from across industry attend every year. They include: A.T. Kearney |
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BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets. It has $1.1 trillion assets under management including $84 billion in insurance monies and $25.9 trillion under trust and custody including $2 trillion of insurance assets*. BNY Mellon has served the insurance industry for over 135 years and today our clients include 77% of the top 100 Life Insurers and 70% of top 50 Non-life Insurers.** For further information visit www.bnymellon.com |
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The Insurance Summit 2012 - BrochureSupporting publication:
News Insurances is an independent and specialised news website dedicated to the insurance sector. On NewsInsurances.co.uk, you can view exclusive video interviews with the sector’s leading individuals and will have access to essential news where ever you are. Follow us with your mobile equipments: Blackberry, iPhone, iPad, etc. Build and manage your presence on social media with News Insurances’ specialised networking tool; synchronise your social presence to Twitter and LinkedIn. For further information visit www.newsinsurances.co.uk |
Supporting associations
The Chartered Insurance Institute 2012 is the centenary of the Chartered Insurance Institute having been granted its original Royal Charter by King George V. The challenges that face humanity over the next 100 years are the same as those that face our profession. The heart of the CII Centenary activities is the opportunity to better communicate how the insurance sector helps economies, communities and individuals live their lives. For further information visit www.charteredinsuranceinsitute.com |
The ABI is the voice of insurance, representing the general insurance, investment and long-term savings industry. It was formed in 1985 to represent the whole of the industry and today has over 300 members, accounting for some 90% of premiums in the UK. The ABI’s role is to:
For further information visit www.abi.org.uk |
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| "Wide range of subjects covering the big picture" Strategy Analyst, Legal & General |
| "Professionally delivered. Informative and educational" Actuarial Associate, Risk Specialist Division, FSA |
| "Some very good speakers and good networking" Non-Executive Chairman, Reliance Mutual Insurance |
| "Section on international insurance and political risk. Also social media" Policy Adviser, Regulation and Distribution. ABI |
| "There was a wide variety of speakers on some interesting subjects" Statistical Analyst, ABI |
| "Lots on the insurance industry" Senior Investment Advisor, Aon Hewitt |
| "Open discussions and panel sessions were excellent" Chief Investment Officer, Pool Reinsurance Company |
| "Range of topics and breadth of speakers" Head of Strategic Investment and Risk Management, Legal & General Investment Management |
| "Excellent interaction with speakers and delegates" Reporter, Solvency II Wire |
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Below are a few tweets from throughout the discussions.
Click here to view more tweets. Join the conversation.
Tweeting live today from Economist Insurance Summit where Willis' Rowan Douglas is speaking about #Reinsurance & modelling #ECinsurance |
| Aviva CEO Andrew Moss at Economist Insurance Summit #ECInsurance UK insurance industry contributes £10bn in taxes every year, 2% of economy |
InsuranceERM.com @InsuranceERM We're at the Economist insurance summit. Look out for #ECinsurance tweets |
EC Business&Finance @EC_BizFinance #AndrewMoss, CEO of @Aviva delivers keynote and sets the tone in an up-beat fashion at #ECInsurance. |
InsuranceERM.com @InsuranceERM Andrew Moss Aviva: "We have to make sure regulation does not compound moving forward, should encourage sustainability" #ECinsurance |
| Insurance must keep up with changes in technology and society, use investment strength to support government #ECInsurance #Aviva CEO Moss |
| Aviva CEO Moss: Govts are more aware that pensions time bombs are ticking |
| Aviva ceo Moss: technology will have a more important role in providing insurance in near future #ECinsurance |
| At #ECinsurance today, lively discussions so far! Otto Thoresen, ABI, up next. |
| Too right! RT @InsuranceERM: Otto Thoresen ABI: "equivalence needs to be higher up the Solvency II agenda" #ECinsurance |
Click here for a list of press in attendance and coverage.
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