29 Oct - 1 Nov 2018 Sands Expo & Convention Centre, Marina Bay Sands Singapore SSID: 15SIRC PW: ASPENRE2018 DOWNLOAD SIRC MOBILE APP th Singapore International 15 Reinsurance Conference ORGANISER CO-ORGANISER OFFICIAL MEDIA PARTNER WELCOME RECEPTION BILATERAL MEETING ROOM GOLD SPONSOR SPONSOR SPONSOR TECHNOLOGY PARTNER BROADCAST PARTNER CONFERENCE BAG SPONSOR SILVER SPONSORS LUNCH SPONSOR - 30 OCTOBER CONTENTS Page About the Organisers 3 Welcome Messages 6 Organising Committee 10 Conference Programme 11 Speakers’ Biographies 15 Administrative Details 30 Acknowledgements 33 Directory of Participating Companies 36 Conference Floor Plan 38 Lloyd’s Coffee House Meeting Table Plan 39 SweetSpot Cafe Meeting Table Plan 40 th Singapore International 15 Reinsurance Conference ABOUT THE ORGANISERS Organiser: Singapore Reinsurers’ Association (SRA) Established in 1979, the key objectives of the Singapore Reinsurers’ Association (SRA) are: • To represent members in matters affecting their business interests; • To facilitate dialogue and encourage healthy market competition; • To promote professional excellence through education and training; • To foster strong social bonds within the industry and beyond; and • To advance the reinsurance industry in Singapore and its diverse career opportunities. The SRA is managed by an elected Executive Committee, which comprises senior reinsurance practitioners who dedicate their time on a strictly voluntary basis, supported by a full-time Executive Director and Secretariat team. As of 30 Sep 2018, the SRA has a total membership of 57, comprising 31 Ordinary, 21 Associate, 3 Affiliate and 2 Honorary members. All major non-life reinsurance companies with a presence in Singapore, as well as some direct insurance companies that write a substantial reinsurance portfolio are Ordinary members of the SRA. In addition, several major reinsurance broking firms as well as some regional reinsurers are Associate members. www.sg-reinsurers.org.sg 3 ABOUT THE ORGANISERS Co-Organiser: Reinsurance Brokers’ Association (Singapore) The Reinsurance Brokers' Association (Singapore) or RBAS was established on 19 Dec 1995. The Association’s main objectives are to: • Establish a forum and standard for Licensed Singapore Reinsurance Brokers; • Safeguard their professional interests and to enhance and promote their effectiveness; • Promote compliance and protect our industry's ethical and legal standards; • Promote the education and training of persons practising or intending to practise reinsurance broking in Singapore; • Contribute to thinking and action on proposed and existing legislation, as well as present a cohesive channel of communication and representation for members to regulators and legislators; and • Promote a forum for an exchange of views and information between members and other local and international associations and professional bodies. Currently there are 14 reinsurance brokers registered and conforming to the standards and requirements laid down by RBAS. www.rbas.org.sg 4 ABOUT THE ORGANISERS Official Media Partner: Asia Insurance Review Asia Insurance Review (AIR), has remained the most powerful, leading professional regional insurance publication of Asia for over 28 years! No other magazine can claim this pole position in Asia! AIR remains the strategic partner of the insurance industry in Asia, the strongest economy in the world. With its high level global connections in the market, AIR stands tall ready to serve the industry with a proven track record. AIR remains the trusted source of reliable up-to-date news and developments in the market with its high quality editorial content. And keeping up with disruption and innovation, we have launched many exciting new initiatives in the digital space via our website and online news portals. www.asiainsurancereview.com 5 WELCOME MESSAGE from the Chairman of the 15th SIRC Organising Committee My warmest greetings and welcome to you for the 15th SIRC. This is the second year that the SIRC is going annual with many appreciating the certainty of planning. And ironically, next year’s 16th SIRC will be on the same dates as this year: 29 October to 1 November 2019. The SIRC is a great time for networking, bearing in mind the presence of more than 1,000 insurance and reinsurance professionals from more than 50 countries under one roof at Marina Bay Sands. The extra exclusive that SIRC offers you is the thought leadership coming from the high level CEOs and experts we have put together for the three panels at this year’s event, including giving the Asian reinsurance and Asian marketplace centre stage. Insurance is reinventing itself in every way, from the risks covered to the services offered, even as the risks assumed are getting more protracted and intense. Yet the market is finding new ways to cover and channel these risks in line with customer expectations and regulatory requirements. Such is the name of the game. Don’t miss the thought leadership panels at SIRC. They will arm you with the great ideas to keep your business ‘reloaded’ and on the cutting edge. Reinsurers need to be better informed as they set the pace for the direction of the future growth of insurance. As Chairman of the SIRC Organising Committee, I must place on record my appreciation to the 15th SIRC committee members and pay a special tribute to our advisor Marc Haushofer, Chairman of the Singapore Reinsurers’ Association, for his untiring efforts to get the best of speakers to make this a world class sustainable event. Make the best of your 15th SIRC experience in sunny Singapore, a true reinsurance hub of Asia where the many worlds meet at different planes every which way. Here’s to a successful SIRC and a rewarding preparation for the next renewals with your risk partners. The stage is set. The rest is up to you. Sivam Subramaniam Chairman, Organising Committee 15th SIRC 6 WELCOME MESSAGE from the Chairman of the Singapore Reinsurers’ Association Welcome to the 15th Singapore International Reinsurance Conference (SIRC), dear fellow delegates! This year’s event promises to be yet another exciting and thought-provoking gathering and I am delighted that again so many of you grace us with your presence. The 15th SIRC is themed “Reinsurance Reloaded” which calls for a fresh look at our industry and business model. The conference will focus on a broad spectrum of topics, with experts from different segments of the financial world. We have the privilege of inviting the nation’s Minister for Finance – Mr. Heng Swee Keat to address us as the Official Keynote Speaker and Guest of Honour while AIG President and CEO and Insurance Hall of Fame laureate – Brian Duperreault will address us as the Industry Keynote Speaker. Delegates can also expect extra flavour from the innovators whom we have secured to present their prophecies! Tom van den Brulle, Global Head of Innovation, Munich Re will lead a high level panel to talk about “Reinsurance Reloaded – Industrial Revolution 4.0”. The keynote on cyber by Peter Hacker, International Cyber Security and Cyber Crime Expert and Advisor is meant to increase the risk perception of silent cyber. The insurance market considers ‘silent cyber’ to be a far greater risk than what we have ever seen before. We believe when there is risk, there is opportunity. Olivier Mahul of World Bank will host and stir the panel discussion on “Reinsurance Reloaded – Asian Reinsurer Response” with his keynote. We look forward to a most insightful exchange by a few regional senior executives. STIMULATING PROGRAMME The Organising Committee has gone the extra mile to put together a programme that will hopefully stimulate a visionary and borderless interchange amongst our delegates. So, we hope you will kindly spare some time to be inspired by our high level speakers before your networking sessions. The SIRC clearly aims at being the annual premier event for the reinsurance industry in Asia. Looking back, when it was launched 27 years ago, the idea was to give reinsurance professionals, insurers, brokers and regulators a forum to meet and discuss matters of mutual interest, while also drawing an outlook for our markets. Such an ambition has not lost its relevance … to the contrary! I hope you will enjoy this year’s SIRC and wish all our speakers, delegates and invited guests an enjoyable and rewarding time with us in Singapore! … be it at the main conference venue or during the bilateral meetings that take place alongside it. 7 WELCOME MESSAGE from the Chairman of the Singapore Reinsurers’ Association A NOTE ON THE SRA When the Singapore Reinsurers’ Association was established in 1979, one of the core objectives is to encourage co-operation among companies transacting reinsurance business in Singapore. Since then, our membership has grown significantly over the past 39 years. With 57 members currently on board, the SRA has taken a prominent role in facilitating superior dialogue amongst its members and serves as the first contact point for regulatory driven matters. The SRA also plays an instrumental role in shaping the next generation of industry leaders by frequently organising learning events conducted by senior executives and specific experts. On behalf of the SRA and our co-organiser, the Reinsurance Brokers’ Association Singapore (RBAS), I wish to reiterate my warm welcome to all of you. Enjoy and have a rewarding time at this year’s SIRC. Marc Haushofer Chairman Singapore Reinsurers’ Association Honorary Advisor 15th SIRC Organising Committee 8 WELCOME MESSAGE from the Chairman of the Reinsurance Brokers' Association (Singapore) Welcome all, to the 15th Singapore International Reinsurance Conference (SIRC). Singapore, supported by its authorities and the Monetary Authority of Singapore, has established itself over several decades as the undisputed centre of Reinsurance within the Asian region. In recent years, despite the soft market conditions, fundamentally the market has attracted talent from around the Asian region and the globe to support steady growth and stability and drive Singapore onto greater heights of regional excellence. Membership of the Reinsurance Brokers' Association (Singapore) [RBAS] continues to expand and drive innovation.