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A.M. 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 in reinsurance.
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 half-day event, titled ‘Future stars – where next for the (re)insurance market?’, will also feature two panel sessions and be moderated by ITV News presenter Alastair Stewart.
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 Management.
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 Towers Watson.
