Whilst we are all still getting used to S2, and all perhaps hoping that the fallout from Brexit might not encompass significant change, international regulators are cooperating on ICS (International Capital Standards) for the largest international insurers. Our next session will concentrate on the particular problems all this poses insurance company non executives.
We examine what we have learnt from the first year of S2 implementation, whether change is desirable if we are not bound by European regulation in the future and how ICS looks to those companies engaged in its evolution. We will hear the view of the UK supervisor, experts in S2 and move onto input from executives whose task is to brief boards and the non executives- actuarial and lay members receiving them. We focus particularly on two questions:
What should non executive directors expect in terms of regulatory change and how do we ensure adequate assurance on capital and capital planning in such a complex, changing world?
How can the board give adequate attention to these critical questions and still maintain "the entrepreneurial leadership" of the company?
Event organiser
Contact Niki Park for more information.
020 7632 2152
Martin Pike will Chairing this event.
| 17.00-17.30 | Registration |
| 17.30-19.00 | Programme |
| 19.00-21.00 | Netwokring (Drinks and canapes) |
Speakers:
David Prowse - David leads Fitch’s European insurance market research and publications. His recent publications have covered why Solvency II metrics have limited use in insurer ratings, the effects of low bond yields on insurers and how Fitch assesses the key credit factors underlying European life ratings. He speaks regularly with investors, bankers and insurers to discuss market developments and the implications for ratings, and frequently represents Fitch at conferences.
David oversees a team of analysts covering a broad range of insurers across the EMEA region, chairs rating committees and is part of the team that contributes to Fitch’s insurance rating methodology, with particular focus on its application to European life insurers. He previously led Fitch's UK life insurance team and remains closely involved in Fitch’s analytical coverage of the sector.
David has an MA in mathematics from the University of Oxford and qualified as an actuary in 1997. Before joining Fitch in 2007 he was a life actuarial consultant at Deloitte and Ernst & Young for ten years, leading assignments for UK and European insurers on financial modelling and reporting.
Martin Pike - A widely experienced strategic risk consultant and business leader with 30 years of experience in the international financial services industry, now operating as a Non-Executive Director at Standard Life Group, Esure and Faraday (a managing agent at Lloyds). Also chairman of a small and innovative construction company building zero carbon homes.
Sean McGuire
Dick Rae - With a back ground in Life Insurance, Dick has enjoyed over 21 years in the area of capital management, asset liability management and strategic asset allocation. This includes 5 years in reinsurance, 14 years in investment banking with the last 2 plus years in asset management where he heads BMO Global Asset Management’s UK Insurance Solutions. Throughout this period Dick has provided strategic, insurance solutions to a range of UK and European insurers against the backdrop of the evolving European regulatory and capital framework. He the chair of the IFoA’s working party that is conducting a Retrospective on Solvency II and is deputy chair of the IFoA’s Finance and Investment Board.
Nick Dexter - Nick is a Senior Advisor at the PRA where he sits on many of the PRA panels, including those for IMAP approval, and advises senior management on insurance matters. Nick was previously a Partner within KPMG’s Actuarial and Insurance Risk practices and jointly led their European Solvency II consulting team
Location
Address
Marsh & Mclennan Companies Office, 1 Tower Place, London, EC3R 5BU
Nearest Public Transport
Tower Hill train station
Fenchurch Street