2019 Seminar on Reinsurance

Event Details

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Fairmont Southampton
101 South Shore Road
Southampton SN 02, Bermuda
(441) 238-8000

5/6/2019

About This Event

The purpose of this seminar is to provide information on a variety of reinsurance topics. Practical approaches to problems will be presented and discussion will be encouraged. Participants can expect to gain awareness and insight into difficult issues and are encouraged to share their own ideas.

Event Information

Continuing Professional Education Credit

The CAS Continuing Education Policy applies to all ACAS and FCAS members who provide actuarial services. Actuarial services are defined in the CAS Code of Professional Conduct as “professional services provided to a Principal by an individual acting in the capacity of an actuary. Such services include the rendering of advice, recommendations, findings, or opinions based upon actuarial considerations.”

Members who are or could be subject to the continuing education requirements of a national actuarial organization can meet the requirements of the CAS Continuing Education Policy by satisfying the continuing education requirements established by a national actuarial organization recognized by the Policy.

This seminar may qualify for up to 13.5* CE credits for CAS members. Participants should claim credit commensurate with the extent of their participation in the activity. CAS members earn 1 CE credit per 50 minutes of educational session time not to include breaks or lunch.

*The amount of CE credit that can be earned for participating in this activity must be assessed by the individual attendee. It also may be different for individuals who are subject to the requirements of organizations other than the American Academy of Actuaries.

Handouts and Evaluations

Session slides will be posted on the CAS Web Site at least two weeks in advance of the Reinsurance Seminar so that attendees can download, print, and bring handouts as desired. Please note that not every presenter will choose to provide a presentation for his or her session.

Attendees are encouraged view the list of attendees electronically, complete the online evaluation forms, and download presentations for the sessions they attend. The CAS appreciates your participation in this effort to reduce the Seminar’s carbon footprint and impact on the environment.

University of CAS (UCAS)

UCAS Logo

Visit the University of CAS to begin an all new experience in education. UCAS provides a virtual world of opportunities to help enhance your professional education needs. Through capture of live content from CAS meetings and seminars, UCAS will offer a variety of session presentations, audio recordings, podcasts, and recorded Webinars.
Most of our sessions from the 2019 Seminar on Reinsurance will be recorded and available to seminar attendees for a discounted price of $50.

Attire

Business casual attire is suggested for all sessions as well as all evening functions. Since meeting room temperatures and personal comfort levels vary, it is recommended that you bring a sweater or jacket to the sessions. In Bermuda, the average high temperature during June is 78 degrees and the average low is 71 degrees.

Consent to Use of Multimedia

Registration and attendance at or participation in CAS meetings, seminars, and other activities constitutes an agreement by the registrant to the CAS use and distribution (both now and in the future) of the registrant or attendee’s image or voice in photographs, videotapes, electronic reproduction, and audiotapes of such events and activities.

Contact Information

  • For more information on Reinsurance Seminar educational content, please contact CAS Manager of Professional Education, Vincent Edwards at vedwards@casact.org.
  • For more information on attendee registration, please e-mail arc@casact.org.
  • For more information on the Reinsurance Seminar other than registration or content issues, please e-mail meetings@casact.org.
  • For more information on other CAS opportunities, or for more information regarding administrative policies such as complaints and refunds, please contact the CAS Office at (703) 276-3100 or by email.

 

Event registration

Pre-registration is now closed. Please register with the CAS Staff in Bermuda. Questions? Call 703-276-3100.

The 2019 Seminar on Reinsurance will be held Monday, June 3 and Tuesday, June 4 at Fairmont Southampton Hotel, Southampton, Bermuda. The registration fee includes a welcome reception on the eve of the seminar, a reception on Monday evening, continental breakfast, lunch, refreshment breaks both days, and seminar materials.

All fees will increase by $200 for registrations received on or after May 6, 2019.

https://www.casact.org/education/reinsure/2019/index.cfm?fa=registration

Program guide
Planning committee

Reinsurance Planning Committee

Joint Program Committee for Reinsurance Seminars

Bruce Fell, Chairperson
Aaron Koch, Vice Chairperson

Athula Alwis
Tim Aman
Raju Bohra
John Buchanan
Lon Chang
Darrel Chvoy
Isaac Espinoza
John Ferrara
Joshua Fishman
Julie Halper
Christian Hauprich
Chenyan (Hannah) Huang
Derek Jones
Trevor Leitch
Robin Li
Jennifer Middough
Joseph A. Milicia
Brian Mullen
Stephanie Rabin
Preneshan Ramaloo
Matt Schmitt
Zilan Shen
Heidi Wang
Mark Westmoreland
Albert Zhou
Zhao Zhou

Nebojsa Bojer, Chair - Reinsurance Research Committee

Vincent L. Edwards, Staff Liaison
Leanne Wieczorek, Staff Liaison

Lodging

Fairmont Southampton
101 South Shore Road
Southampton SN 02, Bermuda
(441) 238-8000

Perched on Bermuda’s stunning south shore with miles of pink sand beaches alongside our private beach club, dotted with lush bougainvillea and towering coconut palms, the luxurious Fairmont Southampton, Bermuda beach, tennis and golf resort serves island adventure and relaxation. Conveniently located in the mid-Atlantic, less than a two-hour flight from most east coast gateways; this Bermuda hotel is perfect for Atlantic vacations, getaways, meetings & events year-round.

Room Rate is $369 for single/double room, plus taxes and fees. Discounted room rate applies to Sunday and Monday nights, June 2 and 3, 2019.

Reservations must be made prior to May 2, 2019. Check in at the Fairmont Southampton is after 3:00 p.m. and check out is by 12:00 p.m.

Reservations

Reservations may be made online or via telephone:

  • Online Reservations: https://aws.passkey.com/go/casmtg2019
  • Phone Reservations: When calling to make a guest room reservation please identify yourself as being with the CAS Reinsurance Seminar for ease of booking:
    Reservations Department - 1-441-238-8000
    Global Reservations – 1-800-441-1414

While reservations must be made prior to May 2, 2019, in order to receive the $369 rate, there is no guarantee that rooms will be available should you wait until this date. CAS strongly suggests that you make your room reservations early to secure accommodations before the room block fills.

Additional Accommodation Information

For more information on the hotel or the Bermuda Island, please visit either Hotel website or Go To Bermuda Website, respectively.

Important Information Regarding the Seminar Hotel

The Casualty Actuarial Society is able to conduct high-quality seminars at desirable sites for a reasonable registration fee because a block of hotel rooms is reserved for meeting attendees. In exchange for filling the required number of sleeping rooms, the CAS is permitted to use the hotel's meeting space at no cost, thus keeping registration fees low. In addition, meeting attendees receive a reduced rate for their sleeping rooms over leisure travelers. We kindly request that all meeting attendees take advantage of the group rate and stay at the official 2019 Seminar on Reinsurance property, the Fairmont Southampton Hotel.

Sponsors

Sponsorship Opportunities

Gain exposure for your company by becoming an exhibitor and/or sponsor. Sponsorship opportunities are available at various levels which will give your company exposure to key decision makers of various industries.

If you are interested or need more details, please contact Clarisa Figueroa at (703) 562-1722 or cfigueroa@casact.org.

Download a copy of the 2019 Sponsor prospectus.

Diamond Partners

Live Stream Sponsor

Ezra Penland Logo

Ezra Penland Actuarial Recruitment was established by Sally Ezra and Claude Penland, ACAS, MAAA, partners with over 40 years of combined industry experience. With the industry's leading actuarial salary surveys and a rapidly growing actuarial recruiting staff, our goal is to be the top actuarial recruitment firm in the world while serving the long-term needs of clients and actuaries.

Our educated, knowledgeable and highly-trained staff will always exhibit business ethics, integrity, empathy and strong listening skills to help you reach your business goals. Ezra Penland works on both retained and contingent searches at all levels of actuarial analysts, credentialed actuaries and senior roles.

 

Giveaway Item Sponsor

Pryor Logo

"It Takes One To Know One...An Actuary Placing Actuaries"

Pryor Associates Executive Search — Named a top recruiting firm by Dun & Bradstreet, Pryor has 40 years of insurance (P&C, Health, Life, Pensions & Investments) experience.

Pauline Reimer, ASA, MAAA, has headed the Actuarial Placement Division since 1986, after working as an actuary in insurance and consulting firms. Proudly the CAS's first Platinum Partner, she is also on the SoA's Entrepreneurial Section Council, the Executive Board of ASNY, and the Advisory Boards of both Columbia University's MS in Actuarial Science program and New York University's BS in Actuarial Science program.

Quoted in periodicals and television, Pauline handles each step of every actuarial assignment personally and no client is ever relegated to just an Assistant. Her impressive placement records of 99% retention rate and 100% success ratio in retained searches confirm her status as one of the most successful actuarial recruiters worldwide.

Silver Partners

Giveaway Item Sponsor

Insureware Logo

Insureware Pty. Ltd. is the world’s leading authority on the management and measurement of long-tail liability risks. Its flagship long-tail liability software product ICRFS™ and associated eConsulting services are based on many years of research and development by a talented R&D team.

Insureware’s R&D team has made contributions to new statistical methodologies and members of the team have published widely in international actuarial and statistical journals.

ICRFS™ has a comprehensive user interface and impressive computational speed. It incorporates a unique collection of benefits and applications and delivers vital knowledge that cannot be obtained in any other way.

ICRFS™ has direct applications to loss reserving, segmentation pricing, creative reinsurance solutions and optimal retention, pricing retrospective and prospective aggregate stop-loss and excess of loss, and modeling relationships between lines of business, segments and layers critical to economic capital determination, optimal capital allocation by LOB and calendar year, dynamic financial analysis, and Solvency II.

Insureware creates a unique collaborative partnership with each client. The partnership facilitates the growth of detailed and company specific knowledge, benefits, and applications.

Additional Sponsors

Giveaway Item Sponsor

iCAS Logo

The CAS Institute, or iCAS, is a subsidiary of the Casualty Actuarial Society offering new credentials and specialized professional education for quantitative professionals.

iCAS specialty credentials are separate from actuarial credentials and are designed for any professional seeking specialized recognition in quantitative practice areas such as predictive analytics, data science and catastrophe model analytics. Professionals can leverage this recognition in order to enhance their skills, set themselves apart from other professionals, secure additional job duties, attract premium compensation and/or advance their careers.

The first credentials currently being developed and granted by The CAS Institute focus on predictive analytics and data science; additional credentials will follow in other areas of specialization such as catastrophe modeling, capital modeling and quantitative reinsurance analysis. The CAS has partnered with The Institutes, a leading global provider in education, to ensure that the iCAS credentialing process meets the highest standards of excellence in professional education. The CAS Institute began offering its programs in the latter part of 2016.

 

Giveaway Item Sponsor

Carrier Management Logo

Carrier Management serves the information needs of p/c insurance company boards of directors and C-suite officers. It is a dedicated magazine, website, and newsletter in the style of Harvard Business Review. It features how-to articles from p/c industry experts, executive interviews, and insights on insurance leadership and management.

Tuesday Continental Breakfast Sponsor, Tuesday Refreshment Break Sponsor

Horseshoe group logo

Horseshoe Group (“Horseshoe”) is an award winning independent and privately-owned group of companies, forming a global leading financial services provider, dedicated to both Insurance-Linked Securities (“ILS”) and the alternative fund markets.

Horseshoe currently services over 160 clients with assets in excess of $30 billion, from its operating offices in Bermuda, Cayman Islands, United States, Gibraltar, Ireland and London.

Through the talent of its people, unparalleled client service and innovative solutions, Horseshoe continues to be a leader in the market place and the partner of choice for many Re/insurers, Catastrophe Bonds/Sidecars, Transformers, ILS Funds, Hedge Funds, Private Equity Funds, Pension Funds and Lloyd’s affiliates.

Other information

List of Attendees, https://www.casact.org/education/reinsure/2019/LOA.pdf

Seminar History

Casualty Actuaries in Reinsurance, or CARe, was founded in 1988 by a group of reinsurance actuaries who saw the need for a forum to discuss their common practical issues and to foster reinsurance research and education. CARe was later organized as a special interest section of the CAS.

CARe is guided by the Senior Actuaries Group, which is composed of chief actuaries active with reinsurance firms. The Senior Actuaries Group meets during each CARe meeting to advise the two CAS committees primarily involved in reinsurance practice. CARe also conducts its annual business session during this meeting and elects new officers at that time.

Contact Information

  • For more information on Reinsurance Seminar educational content, please contact CAS Manager of Professional Education, Vincent Edwards at vedwards@casact.org.
  • For more information on attendee registration, please e-mail arc@casact.org.
  • For more information on the Reinsurance Seminar other than registration or content issues, please e-mail meetings@casact.org.
  • For more information on other CAS opportunities, or for more information regarding administrative policies such as complaints and refunds, please contact the CAS Office at (703) 276-3100 or by email.

 

General sessions

General Session 1: The Reinsurance Market

During this panel discussion, three industry experts from diverse backgrounds, will share their perspectives on the reinsurance market and the outlook for 2019.

Discussion topics will include:

  • Six months into 2019: What is the pricing and profitability outlook? Are there any surprises?
  • Consolidation:
    • Will it continue in both the broker and (re)insurance space?
    • To what extent has “price to book” impacted final sale price, based on insights from recent M&A valuations?
    • What is the “sweet spot” for targets in 2019 and beyond?
  • Brexit and Lloyds - does it represent a disruption or opportunity for Bermuda?

Moderator:
Lisa Butera, Managing Director - P&C Client Markets US, Swiss Re
Panelists:
Peter Hearn, CEO, Guy Carpenter
Maamoun Rajeh, Chairman and CEO, Arch Worldwide Reinsurance Group
Kevin O’Donnell, President & Chief Executive Officer, RenaissanceRe Holdings Ltd.

General Session 2: Insurance-Linked Securities (ILS)

In this general session we will cover the ILS market from the viewpoint of three industry experts.

Discussion topics will include:

  • How did the market reload after the 2018 events compare to the reload of 2017?
  • After two years of loss events, how well has the ILS value proposition held up from an investor’s point of view?
  • What are the biggest lessons learned from recent events? Including:
  • California Wildfire losses including PG&E
  • 2017 event reserve deterioration
  • What is the long-term demand for products in the space?
  • ILS beyond natural catastrophes - what might be on the horizon?

Moderator:
Kathy Garrigan, Chief Actuary, Mt. Logan Re
Panelists:
Andre Perez, Chairman and CEO, Horseshoe Group
Aditya Dutt, President, Renaissance Underwriting Managers Limited
Richard Lowther, Managing Principal, Hiscox Re

 

General sessions

General Session 1: The Reinsurance Market

During this panel discussion, three industry experts from diverse backgrounds, will share their perspectives on the reinsurance market and the outlook for 2019.

Discussion topics will include:

  • Six months into 2019: What is the pricing and profitability outlook? Are there any surprises?
  • Consolidation:
    • Will it continue in both the broker and (re)insurance space?
    • To what extent has “price to book” impacted final sale price, based on insights from recent M&A valuations?
    • What is the “sweet spot” for targets in 2019 and beyond?
  • Brexit and Lloyds - does it represent a disruption or opportunity for Bermuda?

Moderator:
Lisa Butera, Managing Director - P&C Client Markets US, Swiss Re
Panelists:
Peter Hearn, CEO, Guy Carpenter
Maamoun Rajeh, Chairman and CEO, Arch Worldwide Reinsurance Group
Kevin O’Donnell, President & Chief Executive Officer, RenaissanceRe Holdings Ltd.

General Session 2: Insurance-Linked Securities (ILS)

In this general session we will cover the ILS market from the viewpoint of three industry experts.

Discussion topics will include:

  • How did the market reload after the 2018 events compare to the reload of 2017?
  • After two years of loss events, how well has the ILS value proposition held up from an investor’s point of view?
  • What are the biggest lessons learned from recent events? Including:
  • California Wildfire losses including PG&E
  • 2017 event reserve deterioration
  • What is the long-term demand for products in the space?
  • ILS beyond natural catastrophes - what might be on the horizon?

Moderator:
Kathy Garrigan, Chief Actuary, Mt. Logan Re
Panelists:
Andre Perez, Chairman and CEO, Horseshoe Group
Aditya Dutt, President, Renaissance Underwriting Managers Limited
Richard Lowther, Managing Principal, Hiscox Re