Best's Carlos Wong-Fupuy has been confirmed as the keynote
speaker for next month's Guernsey Insurance Forum.
Taking place in London on Wednesday 21 September, the event will
assess the impact of global developments on innovation and growth
in the insurance sector and identify which insurance centres are
best placed to adapt to and focus on new structures, particularly
Mr Wong- Fupuy, a Senior Director at A.M. Best Europe Ratings
Services, is a member of the Group's credit rating policy
committee which is responsible for developing and updating the
methodology, policies and procedures on which the agency's
ratings are based. He is a Fellow of the Institute and Faculty of
Actuaries and has contributed to and written for a number of
publications, including the North America Actuarial Journal.
Guernsey Finance Chief Executive Dominic Wheatley said he was
delighted to have secured Mr Wong-Fupuy as the keynote speaker.
"Carlos is a very informed and engaging speaker and I'm
looking forward to hearing him share his expertise. He will provide
the audience with a valuable insight into how A.M. Best sees
country risk and its impact on insurance ratings, while also
sharing his views on Brexit and Guernsey as a location for
business," said Mr Wheatley.
The first panel session will focus on structural innovation in
the marketplace and centres of excellence. Panellists comprise Mark
Cook of Willis Towers Watson; Mark Helyar of Bedell Cristin; David
Clissitt of Deloitte and Oliver Schofield of RKH Reinsurance
Broking. The second panel session will look at market developments,
particularly in the area of reinsurance, as well as drivers of
innovation and the key growth ingredients. Panellists for this
session are Niklaus Hilti of Credit Suisse; Caroline Bradley of the
Guernsey Financial Services Commission (GFSC); Julian Walker of
Nomura International and Steve Britton of Aon Captive and Insurance
Mr Wheatley said the event will appeal to reinsurance
professionals, captive managers, insurance companies, actuaries,
lawyers, accountants and risk managers.
"I am excited by the emerging opportunities in the
insurance sector and the Guernsey Insurance Forum provides the
perfect platform for our range of expert panellists to tell us more
about them," said Mr Wheatley.
"Guernsey is widely considered as the number one captive
insurance domicile in Europe and is well known for its world
leading innovation in offshore insurance. In recent years we have
shown our adaptability and expertise through our fast-moving
insurance-linked securities businesses, our new engineering of
longevity risk for pension funds and our developing attraction as a
jurisdiction for new commercial reinsurance companies - something
we hope to see expand further in the coming years. However, recent
international developments will generate new opportunities and
I'm looking forward to hearing the speakers' thoughts as to
what they expect these to be."
Figures to the end of last year showed that there were a total
of 804 international insurers licensed in Guernsey at the end of
2015, comprising 242 limited companies, 64 Protected Cell Companies
(PCCs), 444 PCC cells, 13 Incorporated Cell Companies (ICCs) and 41
ICC cells. It was the first time that the end-of-year figures from
the GFSC had recorded the Island being above the 800 threshold for
licensed international insurers.
'Future stars - where next for the (Re)insurance
market?', which is free to attend, takes place at etc.venues, 8
Fenchurch Place, London, from 1.30pm on Wednesday 21 September and
will be followed by a drinks reception at 5pm. The event is hosted
in conjunction with the Guernsey International Insurance Association
(GIIA). Sponsors are Aon, Appleby, Artex Risk Solutions, Bedell
Cristin, BWCI, EY, Ogier, Royal London Asset Management and Willis
For further information or to book a delegate place please click here.
Hiscox Syndicate 33 recently became the first Lloyd’s syndicate to enter into a sidecar transaction. This highlights the growing prominence of the sidecar as a capital-raising vehicle for property catastrophe risks.
Growth in the captive insurance market will be driven by intermediaries and brokers establishing vehicles to aggregate the risks of their individual customers, it has been claimed by a panellist at the Guernsey Insurance Forum.
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