Moderator: Marc Groz, SPM LLC
Presenter: Aaron Brown, AQR Capital Management

Aaron Brown, Risk Manager at AQR Capital Management and author of Red-Blooded Risk, will discuss how investment managers can exploit risk to improve results. In Aaron's 30-year Wall Street career he has been a trader, portfolio manager, head of mortgage securities and risk manager for institutions including Morgan Stanley, Citigroup and Prudential Insurance-plus he put in a stint as a finance professor. In addition to his most recent book, he wrote The Poker Face of Wall Street (selected as one of the ten best business books of 2006 by Business Week) and co-wrote A World of Chance.

Moderator: David Holmes, Eager, Davis & Holmes LLC
Presenters: Rich Sega, Conning; Stewart Morrison, Western Asset Management; Tom Rogers, Zurich Global Investment Management, Inc., Phil Elam, Lincoln Financial Group

Outsourcing of the management of insurance company assets has been increasing over the past few years. What's been driving this trend and what's expected going forward? What are the advantages and disadvantages of outsourcing asset management? How do companies make the decision to outsource? This session will feature participants representing both the asset management and insurance company viewpoints and will explore the questions above, in addition to related issues such as typical operational framework and implementation issues, constructing portfolio guidelines and benchmarks, in addition to key issues faced when outsourcing.

Moderator: Hueyfang Chen, Swiss Re America Corp
Presenter: Stephen Cross, Swiss Re America Holding Corporation

Various banks and insurance companies reported income in their financial statements despite the financial crisis, but what portion of this was real and sustainable cash flows? Their widened credit spreads allowed them to record income, which was sometimes even larger than their losses. Does this accounting treatment make economic sense? This session looks at GAAP, IFRS, and Statutory investment accounting methods and discusses how they could distort the true economic view of a company, and also provides an update on current investment accounting issues.

Moderator: TBD
Presenters: Brent Simmons, Sun Life Financial; Amy Kessler, Prudential Retirement

Worldwide population statistics show that we're all living longer than once expected. "Longevity" has become a global phenomenon and while that's excellent from a social studies standpoint, it can also be disastrous for defined benefit pension plans. Plan sponsors are now faced with benefit obligations accumulated over decades based on mortality rates which no longer reflect reality. Financial engineers have created innovative solutions such as longevity swaps and longevity reinsurance. This session will discuss the insurance and capital markets transactions for mitigating longevity risk.

Noncore EA Credit: 75 Minutes

Moderator: TBD
Presenters: David Homan, Credit Suisse; Bart Oosterveld, Moody's Investor Service

As the European debt crisis has enveloped Italy, Spain and France, while countries like Greece and Portugal have reached the brink of financial meltdown, even the United States has struggled to maintain stability. The resulting sovereign downgrades in the background of a bleak economic environment continue to raise the question of "how bad could it get". This session will discuss:

• Investigating what a broken-up European Union may look like and how we would get that would happen legally
• Implications for other countries and the financial system in general
• Ways to mitigate risk of a sovereign default
• Advantages and disadvantages to trading credit default swaps on sovereign debt