Main Conference Day One: Wednesday, January 28, 2009
8:00 Registration
8:45 Chairperson’s Welcome And Opening Remarks
Mark Goode
CEO & Co-Managing Partner
Peninsula Group LLC
9:00 Examining The Impact Of The Global Financial Crisis On ILS
The unraveling of the financial crisis is bringing a great amount of uncertainty to all markets. The
impacts of the AIG bail out and Lehman’s collapse are yet to be felt. The opening panel of the 5th
Insurance Linked Securities Summit will lay the foundation for the changes that are afoot and the
opportunities that lay ahead.
- Identifying opportunities created by the current financial crisis
- Addressing the impact of AIG’s troubles on ILS and the general reinsurance market
- Discussing financial catastrophes in the context of an insurance event
- Where do the insurance capital markets go from here? What kinds of structural trends do we expect?
Moderator:
Keith Andruschak
Partner
Stroock & Stroock & Lavan LLP
Craig Seitel
President
Abacus Settlements
Paul Livingstone
Managing Director, Structured Credit & CDO Group
Assured Guaranty
Bill Dubinsky
Managing Director
Swiss Re
10:00 Networking Break
Concurrent Sessions Begin – Choose Track A or Track B
| Track A: Life Settlements, Longevity Risk, and Life Insurance Securitization |
Track B: CAT Bonds and Other Non-Life Insurance Securitizations |
10:30 KEYNOTE ADDRESS: Unveiling the 2008 LPD Marketing Analysis
Terrance Fields
Director of Operations
Life Policy Dynamics LLC
Jonathan Nguyen-Phuong
Senior Analyst
Life Policy Dynamics LLC
|
10:30 Keynote Address:
Paul Schultz
President, Investment Banking Group
Aon Benfield
|
10:45 Assessing The Relative Value Of Cash Investments In Life
Settlements Vs. Synthetic Longevity Products
- Outlining the current market for synthetic instruments surrounding life settlements and the drivers for growth in this market
- Comparing the advantages and disadvantages of direct investments into life settlements and investments into synthetic life settlement products
- Exploring the route to market of clean collateral: Where is it being traded? How is it packaged? What are the ways it transacts?
- Defining the roles of market players and the determinants of value
Jeff Mulholland
President
Life Equity LLC
David Rawson-Mackenzie
Managing Director
Centurion Fund Managers
Michael T. Crane
Managing Director
Coventry
Marcos Flores
Managing Director, Life Finance Group
Credit Suisse
|
The P&C Insurance Securitization Market of Today and Tomorrow
- Assessing how the ILS market will respond to the credit crisis: Will the demand for issuance amid opportunities in other investments continue (e.g. fixed income)
- Reviewing the 2008 storm season and its impact on pricing
- Analyzing traditional and alternative structures for securitizing risk
- Exploring the types of products that may surface to address the needs of an expanding investor class
Karsten Bromann
PhD, Managing Partner and Chief Risk Officer
Solidium Partners
Jay Nichols
Executive Vice President, Head of Securitization
Renaissance Re
Greg Hendrick
President and Chief Underwriting Officer
XL Re |
11:45 Innovations In Synthetic Longevity Products
- Assessing the benefits of investing in synthetic longevity products
- Customizing longevity-linked indices and structures to meet investors’ demands
- Presenting a case study of a traded longevity-linked transaction
Rafi Khan
Director, Global Credit Trading
Deutsche Bank Securities
Ellen Gardner
Director, Global Credit Trading
Deutsche Bank Securities
|
Innovations in Exchange Traded Products
- Discussing changes in exchange traded offerings and other derivatives contracts
- Detailing the benefits of exchange traded insurance products for different types of investors
- Exploring the growing market for live cat trading
- Applications of event-linked futures contracts as a capital efficiency structure for issuers
Neil Eckert
CEO
European Climate Exchange
|
12:30 Networking Luncheon For Speakers And Delegates
1:45 Interactive Panel Discussion: Investor’s Perspectives: Longevity
Markets
- Discussing investors’ views and concerns on this growing alternative market
- Detailing factors driving and restricting investment in life settlements
- Weighing different investment structures against various types of risk
- Highlighting key aspects of due diligence protocols
Moderator:
Boris Ziser
Partner
Stroock & Stroock & Lavan LLP
Harish Raghavan
Partner and CEO
Inscap Management, LLC
José Garcia
Senior Advisor
Peninsula Group
President
Carlisle Fund Management Luxemburg
Hasham Malik
Director
Peachtree Asset Management
Michael Byl
President
Strategic Directions Management
|
Interactive Panel Discussion: Investor’s Perspectives of the ILS
P&C Market
- Discussing investor’s views and concerns on this growing alternative market
- Detailing factors driving and restricting investment in ILS
- Weighing different investment structures against various types of risk
- Identifying and evaluating qualitative variables impacting models
Niraj Patel
PhD, CFA, Managing Director, Credit Derivatives and Insurance-Linked Securities
Genworth Investments
Dan Bergman
PhD, CFA, Senior Strategist for Alternative Strategies
AP3 Third Swedish National Pension Fund
Greg Hagood
Principal & Co-owner
Nephila Capital
Stephen Velotti
Portfolio Manager
Janiperus Capital
Mike Leybov
Managing Director and Portfolio Manager
Horton Point LLC |
2:45 Networking Break
ROUNDTABLE DISCUSSION GROUPS: This section of the program will provide a specialized networking and brainstorming opportunity for conference delegates, speakers, and sponsors to focus on specific sector issues within the ILS arena. You can pick a discussion group to join, or bounce between tables and participate in multiple discussions.
Discussion group moderators will present the group proceedings to the entire delegation following the session.
3:30 Roundtable Discussions-Life Markets
- Cash Life Settlements Group- Discussing due diligence protocols, valuation strategies, and approaches to diversification
Facilitator:
Anna Bailey
Director of Operations
Secondary Life Capital LLC.
- Synthetic Products Group - Discussing variations in indexed products, negotiating ideal terms, and previewing the next wave of innovations
- A/XXX Discussion Group- Discussing the recent wave of transactions and how to estimate investor behavior components
- Pension Risk Group- Discussing prospects for transferring and investing in pension risk
Facilitator:
Antony Mott
Managing Director, Structured Insurance Products
ICAP
|
Roundtable Discussions-Non-Life Markets
- Bond Structure Standardization Discussion- An open forum to discuss ways to increase issuance through a standardized CAT bond structure
- Weather Derivatives Forum- Discussing the reemergence of weather derivatives to the mainstream marketplace and what this movement means for other ILS derivative products
- Exchange Traded Products Forum- Discussing the emergence of exchange traded products and their utility in a portfolio
|
4:30 Analyzing A A/XXX Securities Market In Transition
- Reviewing deals completed in the past 6 months and what they mean for the market moving forward
- Assessing the demand for A/XXX securitization from an issuer and investor perspective
- Addressing mortality risk and investor behavior questions in product structures
- Reviewing developments in the embedded value market
Brice Van Elswyck
Director, Life Finance Group
Credit Suisse
Anthony Ribaudo
Partner
Sidley Austin LLP
Steven Schreiber
Consulting Actuary
Milliman
|
Issuer’s Perspectives: A Discussion around Growth of the Cat Bond Market
- Understanding the drivers of bond issuance and recent trends in transactions
- Identifying trends and convergences in sponsor and investor demands
- Improving efficiency: Debating possible requirements and features of a standardized bond structure
- Discussing movements toward favorable tax considerations for onshore special purpose vehicles
Beat Holliger
Managing Director
Munich Re Capital Markets
Paul Schultz
President, Investment Banking Group
Aon Benfield
Tom Weinberger
Partner
Stroock & Stroock & Lavan LLP
Henning Ludolphs
Head of ILS
Hannover Re
|
5:30 Cocktail Reception
Sponsored By:
