Description: The post COVID-19 period exhibited a fast-changing capital market with higher interest rates, uncertain monetary policies, and revaluation of asset classes. At the same time, regulators introduced changes to reward better risk management, such as the scenario-based approach for reserving under Bermuda regulatory framework. For life reinsurers, while new opportunities arising from these changes, challenges also exist to be able to adjust reinsurance portfolios and ALM strategies appropriately. A holistic modeling framework can assist companies better position themselves in front of these challenges and other potential future unknowns. In particular, a well-designed stochastic and dynamic modeling framework enables the quantifications of such probabilities and potential impacts.

Description: "COVID-19 and excess mortality: an actuarial study – Camille Delbrouck, Aon Benfield, Belgium, Jennifer Alonso-García, Department of Mathematics, Université Libre de Bruxelles, Belgium, ARC Centre of Excellence in Population Ageing Research (CEPAR), UNSW Sydney, Australia Netspar, The Netherlands How did COVID-19 change the dependence structure across major causes of death – Han Li, Ph.D., Associate Professor, Centre for Actuarial Studies | Faculty of Business and Economics, The University of Melbourne, Victoria, Australia"

Description: Navigate a perspective on the process of developing estimates and projections of mortality rates, based on a Living to 100 paper by the teacher. Discover the approach and considerations an actuary (or others) can take to develop a mortality rate assumption for five time periods. It will describe techniques to estimate historical mortality rates from which to project future mortality rates.

Description: Getting people to think beyond retirement about future care needs and how they will be paid for is critical for a healthy aging plan. However, most people avoid the topic and make rushed decisions when finding long-term care services. Hear from experts in this advisory field explain what a successful plan looks like and what it takes to get people to plan ahead.

Description: Discuss how the reinsurance can be utilized to manage the risk profile of the company. Potentially we can use a case or two to demonstrate the usage of reinsurance.

Description: A panel of leading reinsurance executivesprovide perspective on topics to include market capacity, cell and gene therapy, COVID-19's impact on results, syndication arrangements, mergers and acquisitions, and how reinsurers view a variety of risk transfer opportunities.

Description: While European insurers are subject to Solvency II and some Asian insurers adopted IAIS ICS, Bermuda enhanced its BSCR capital framework on 3/31/2024 and Japan has customized IAIS ICS to create Economic Value-Based Solvency Ratio (“ESR”). ESR will replace the existing capital framework from 3/31/2026. The ESR implementation brings significant changes to life insurers in Japan as it did to European insurers at the time of the Solvency II implementation. This session will discuss the background of the ESR framework, under which Japanese life insurers will be subject to increased governance, supervision will be also enhanced, and provide key comparisons to IAIC ICS and BSCR. Panels will also discuss potential implications to business such as strategy, risk management, and reinsurance for the viewpoints of Japanese life insurer with US and/or Bermuda subsidiaries.

Description: Part II of a panel discussion on the state of life reinsurance. The article discusses alternatives to reinsurance such as securitization, the nature of changes in reinsurance from quota share to excess, the role of reinsurance in risk management and the future direction of the relationship between ceding companies and reinsurers.

Description: IFRS 17 will be effective as of 1 Jan 2023 and provide opportunities as well as challenges to both Direct Writers and Reinsurers across the insurance industry. If the new framework is not fully understood, an implementation can elevate the risk of problems in financial reporting, product development, investment management and more. The transition to IFRS provides an opportunity for companies to optimize the financial position of the enterprise by implementing mitigating strategies to reduce the risks and challenges that IFRS brings to the table.

Description: This seminar is designed to give life and annuity practitioners an in-depth view of the important topics and fundamentals of reinsurance from the perspective of a U.S. life insurance company. Reinsurance industry experts will present on the various types of reinsurance, contract issues, financial implications, and other considerations. Attendees will leave this seminar with a stronger understanding of life and annuity reinsurance along with current topics. The seminar is designed for participants with moderate level experience.