CILA 2018

Welcome from the Chair

Colin Dutkiewicz, Aon Benfield

Deep Dive into Equity Release Mortgages

• What makes equity release mortgages attractive to insurers, including key considerations before investing in this asset class? 
• How have recent regulatory updates impacted their perceived attractiveness?
• Extended case study: restructuring equity release mortgages to benefit from the matching adjustment
• The mechanics of equity release mortgages on your balance sheet – what is the capital and accounting treatment of this asset class?
• Understanding the eclectic mix of Solvency II, CRD IV and MIPRU requirements

What does the future hold for equity release mortgages? Discussion on the direction of travel of the PRA and the Equity Release Council

Ben Grainger and Gareth Mee, EY

Longevity Session

Longevity update from the CMI

Matthew Edwards, Deputy Chair of the CMI Executive Committee

Do You Really Understand Your Data?

This session will discuss how new tools and technologies can deliver data analytics and visualisations to help insurers:

• Validate, understand and analyse their data
• Communicate data and analysis to senior stakeholders in an effective and interactive manner
• Provide user interfaces to facilitate calculations, what-if scenarios and functionality to facilitate Overlay or replace existing complicated linear reporting processes with efficient modular approaches

Use predictive capabilities to assess the financial statement impact arising from any erroneous data

Will Mirams and Ed Bujok-Stone, EY

IFRS 17 Update from the IFoA Financial Reporting Group

Kamran and Richard will discuss the key aspects of the new insurance contracts standard IFRS 17 relevant to UK life insurers, focusing on implementation and IASB / industry body developments.

Kamran Foroughi and Richard Olswang, Members of the IFoA's Financial Reporting Group

Professional Skills

The session will be designed to meet the IFoA's Stage 3 Professional Skills Training requirements and will be interactive using video case studies and other materials to facilitate discussion around professional ethical issues.

Malcolm Slee

The Risk Margin on Trial

The Risk Margin has proved to be one of the most controversial aspects of Solvency II: it is accused of destabilising balance sheets and causing insurers to fundamentally change product and reinsurance strategies. So how would actuaries redesign the Risk Margin if we started from a blank piece of paper?

In this session, members of the IFoA’s Risk Margin Working Party will present the case for each of the following positions:

• Maintaining the Risk Margin in its current form
• Modifying parameters in its calculation
• Fundamentally overhauling the approach.

The audience will then be invited to join in the debate.

Andrew Scott, Hymans Robertson, Andy Pelkiewicz and Paul Fulcher, Nomura

Refreshments

Life Offices, Risk and Brexit

Steven McEwan, Hogan Lovells

The Future of the Life Sector in the UK

John Perks, LV=; Kevin Arnott, Phoenix and Scott Eason, Barnett Waddingham