Main Conference Day 2: Wednesday, 28 April 2010

8.15 Chairman’s Opening Remarks

8.30 Keynote Address: Is The World Becoming A More Dangerous Place?
A Closer Look At The Findings Of The UN’s Mortality Risk Index

• Examining the factors contributing to the mortality risk index, including the prevalence of natural disasters, infrastructure for dealing with them, and varieties in the level of preparedness at the country level
• Understanding how mortality risk levels vary along cyclone, earthquake, and flood axes
• Taking a closer look at the relationship between mortality risk levels, economic considerations, and the insurance environment on a country-by-country basis
• Dissecting the role of the index in disaster risk reduction efforts internationally, and the possible expansion in the use of insurance-linked securities

Andrew Maskrey
Chief of Disaster Risk Reduction
United Nations

9.15 Keynote Address: Transferring Risks To The Capital Markets: The Increasing Role Of Indices

• Examining the benefits of index-linked investments for re/insurers and investors
• Understanding the connection between indices, transparency and securitisation
• Tracking the expansion of index-linked risk transfer beyond catastrophe risks
• Evaluating the growth prospects for index-linked instruments in Europe and beyond

Thomas Hess
Chief Economist
Swiss Re

10.00 Examining Uncertainties In Climate Models: Forecasting The Impact Of Best And Worst Case Climate Scenarios On The Future Of The ILS Market

• Identifying the key uncertainties in climate models
• Understanding what model uncertainties reveal about best and worst case future climate scenarios
• What is the role of regional models in climate understanding?
• Determining the economic consequences of model uncertainties
• Analyzing the possible implications for the future of the ILS market

11:15 Why Do Models Disagree? The Peculiar Challenge Of Modeling European Windstorms

• Examining the most significant sources of disagreement between European windstorm models
• Understanding why models disagree, and what the implications are for sponsors of – and investors in – catastrophe bonds
• Identifying weakness in European catastrophe models, and scope for further improvements
• A closer look at the “recharacterisation” process for newly issued cat bonds

12.00 Evaluating Risk In Life Settlement Funds: Managing The Dangers Associated With Longevity, Origination, And Valuation

• Examining the policy selection process – Safeguarding against insurable interest and other potential procurement issues
• The valuation process – How this can help to mitigate extended longevity risk in a life settlement portfolio
• Funds’ legal structure – Choosing the right structure in the right jurisdiction (Ireland, Luxembourg) to help mitigate tax issues such as the potential impact of the recent IRS rulings
• Liquidity risk – Using synthetics to manage liquidity including how to hedge liquidity and currency/credit risks associated with a life settlement portfolio

David Rawson McKenzie
Fund Director
Centurion Fund Managers

13.45 Data Transparency: The Key To Broadening The ILS Investor Base?

• Evaluating current levels of transparency in the pricing and loss estimates for insurance-linked securities
• Considerations around the availability of data: Who can access it and under what circumstances?
• Web-based solutions for enhancing levels of transparency and disclosure
• Determining optimal levels of transparency for the industry: Preserving proprietary information while expanding the investor base

14.30 Scanning The Horizon: New Risks, New Product Structures, New Geographies, New Investors

• Examining the growth of interest in securitising non-traditional risks: Motor loss, satellite impact, medical malpractice, extreme mortality
• Evaluating new ways to transfer risks through the capital markets
• Considerations around future product structures and trading mechanisms
• Overcoming the barriers to growth in new regions

15.15 End Of Conference