Organized by:

Co-sponsored with:

China Region Committee

Actuarial Institute of Chinese Taipei

OBJECTIVE

Jointly organized by the Actuaries Institute Australia, Institute & Faculty of Actuaries, and Society of Actuaries (China Region Committee) with the support of local actuarial bodies, this Joint Regional Seminar is designed to assist actuaries and other professionals in meeting CPD requirements. THE SEMINAR

The industry business model of borrowing (from policyholders) at 4% and investing at 2% is in trouble. To get our way out of this predicament, companies are going to have to take some real risks – either in terms of outright punting, admitting to previous failures and raising capital, changing business models, risk sharing, and so on. Some of these decisions will be very, very hard culturally for companies, and obviously some companies have started this journey in earnest. We often spend a lot of time talking about risk reduction – but having a conference that helps actuaries to think about which risks are the best for their organisations to take from those available is both a positive message and a rather practical one in today’s environment. Hence we have crafted a conference on the theme of Taking Risks, and Winning in the hopes of helping actuaries participate in this debate at their companies.

CPD

The Joint Regional Seminar qualifies for (Actuaries Institute Australia/ IFoA/ SOA/ ASHK) Continuing Professional Development (CPD). Actuarial members may find it a useful contribution to their personal professional development. The amount of hours recorded is left to the discretion of the individual.

VENUE

Beijing 24 - 25 July 2013 Merchantel No.2 Xi Bian Men Wai Da Jie,Xicheng District,Beijing, China

Hong Kong 26 July 20123 Hyatt Regency Hong Kong Regency Ballroom, 18 Hanoi Road, Tsim Sha Tsui, Kowloon, Hong Kong

Taipei 29 - 30 July 2013 5/F (Day 2) & 6/F (Day 1), Y17 Taipei Youth Activity Centre No. 17 Ren Ai Road, Sec. 1, Taipei, Taiwan

Kuala Lumpur 31 July - 1 Aug 2013 Le Meridien Kuala Lumpur 2 Jalan Stesen Sentral, Kuala Lumpur Sentral, Kuala Lumpur, Malaysia

Bangkok 2 Aug 2013 The Imperial Queen’s Park Hotel Bangkok Q3, 199 Sukhumvit Soi 22, Bangkok 10110, Thailand

ATTIRE

Business casual attire is recommended for this seminar.

CONTACT INFORMATION

Individuals who wish to travel to any of the 5 locations for the seminar may contact the following persons for detailed seminar information and registration form:

Beijing

Ms. Yang Ting - China Association of Actuaries Tel: (86) 10 6655 5898 Fax: (86) 10 6655 5884 Email: yt@e-caa.org.cn

Hong Kong

Ms. Tiffany Wong - Actuarial Society of Hong Kong Tel: (852) 2147 9419 Fax: (852) 2147 2497 Email: actsoff@netvigator.com

Taipei

Ms. Emily Lye - Actuaries Office in Hong Kong Tel: (852) 2147 9420 Fax: (852) 2147 2497 Email: actuaries@biznetvigator.com

Bangkok

Ms. Rattiya Singlor - Society of Actuaries of Thailand Tel: (66) 2640 7765 Fax: (66) 2640 7799 ext 7765 Email: rattiyas@mittare.com

Kuala Lumpur

Mr Lim Weng Soon - Actuarial Society of Malaysia Tel: (60) 3 4813 3402 E-mail: secretary@actuaries.org.my

Peter Ryan-Kane CFA

Head of Portfolio Advisory for the Asia-Pacific region, Towers Watson

Peter is responsible for driving investment solutions for clients in Asia and is based in Hong Kong. He sits on the firm’s Global Investment Committee and chairs the Asia Portfolio Construction Group. Peter has more than 25 years of experience in financial markets as an advisor, investor, borrower and risk manager. Peter is a sought after speaker and lecturer on the topics of portfolio construction, risk and asset allocation. He is a key advisor to a number of influential funds in Asia, assisting them in navigating a path through the investment, political and social challenges of their missions. He develops key thinking for the firm with respect to investment issues, strategic thinking and market research. Peter has previously held positions as Global Chief Investment Office, Head of Interest Rate Risk Management, Capital Markets researcher, and Financial Markets trader. Peter is registered with the Securities and Futures Commission as a licensed Responsible Office for Type 4 regulated activity (Advising on Securities) in Hong Kong.

Keith Walter FSA, FCIA, CFA

Director, Towers Watson

Keith has extensive experience in the insurance and financial services industry; prior to his consulting roles, he worked in the industry in Canada, the UK and in the Asia region. Keith has 30 years of diversified experience, with 4+ years of investment-related experience and 10 years in Asia. He has worked in a variety of actuarial and business management roles. His experience includes product development and pricing, risk management and financial reporting, asset/liability and investment management, as well as business development. Keith is a Council member of the Singapore Actuarial Society (“SAS”) and chairs the Retirement Committee of the Society.

Bruce Lundeen FSA Chief Pricing Actuary, SCOR Global Life.

Bruce has oversight and P&L responsibilities for SCOR’s direct marketing business in the Asia Pacific region. He has been with SCOR since the acquisition of Transamerica Reinsurance. Bruce joined Transamerica Reinsurance in 2001 as the Chief Pricing Actuary for Asia and Latin America, and he also assisted with the development and performance of direct marketing reinsurance programs in Asia. Prior to joining Transamerica Reinsurance, he worked for a direct company as their CFO and Chief Actuary for South East Asia for 5 years and in the USA in various actuarial roles for 10 years Bruce is a Fellow of the Society of Actuaries and a member of the American Academy of Actuary.

Ben McDermott FIA Head of Insurance Management Consultancy practice for Asia Pacific, Towers Watson

Ben is responsible for strengthening and broadening Towers Watson’s business performance improvement and strategy advisory services to the Insurance sector – leveraging the deep market insights, data and analytical rigour of Towers Watson. He has worked across the Asia region since 2000. Prior to joining Towers Watson, he successfully held senior business development and distribution roles within the Pan-Asia business of a leading multinational insurer (in China and also the Regional office) and more recently led the Asia and North America businesses of a distribution consulting company.

Wednesday, 31 July 2013 8:30 REGISTRATION 9:00 Welcome Remarks 9:05 Developing Winning Strategies for the Profession in ERM Teh Loo Hai, TAS Actuaries 9:45 Takaful—Opening The Way to Innovative Products Zainal Kassim, Actuarial Partners 10:30 BREAK 11:00 Building a Competitive Advantage Through Optimized Risk Taking Bruce Lundeen, SCOR Global Life In basic economics’ classes, it is taught that those who take the most risks can expect to get the

biggest rewards. We are in the business of providing protection for our customers for the risks that they face. In this session, the speaker will discuss how the classical risk/reward trade-off doesn’t provide the full solution for optimizing success. The session will cover building a competitive advantage by understanding, effectively managing, and building an appetite for taking risks. Examples will be shared showing how this has been done, and opportunities going forward will also be discussed.

11:45 Partnership Distribution: Winning in an Increasingly Competitive Environment Ben McDermott, Towers Watson

In virtually every market in Asia, partnership distribution has transformed to become a meaningful form of life insurance distribution. However, there are still many opportunities for further growth in the partnership space driven by: · Continued opportunities for growth across many bancassurance alliances; · Other partnership distribution channels still being relatively small (in many markets); and · Attractive fundamentals continuing to drive growth in the Asian insurance industry. This presentation will look at what it takes to win in the area of partnership distribution, including managing the key risks of delivering an appropriate return on your initial investment in an increasingly competitive environment for winning deals.

12:30 LUNCH

13:30 Taking Long Term Health Risks, and Winning Tushar Chaterjee, SwissRe

In this session the presenter has chosen a case study of a recent successful product launch in Asia. The risks covered are an extension of what had been done before in that market. It involves evaluating new risks, costing and design, approval processes, discussion around distribution of the product, and the outcome. We will see the end-to-end process and how taking risks happens in "real life", and how this results in a winning solution.

14:15 Topic to be confirmed Ernst & Young 15:00 BREAK 15:30 Dynamic Asset Liability Management in Today's Complex Economic Development Keith Walter and Peter Ryan-Kane, Towers Watson

Since the global financial crisis, developed markets around the world have experienced persistent low interest rates and volatility in equity returns. As companies adapt to this new environment, new approaches are being developed for integrated asset and liability management. This presentation will examine the changing economic environment, review the impact on insurers, and describe how companies can adopt dynamic asset liability management techniques and might consider taking on risk to improve business performance. · Background and update on the economic environment · Implications of low interest rates · Managing new business – opportunities and limitations · Managing in-force business – opportunities and limitations · Managing asset mix – opportunities and limitations · Building dynamic asset liability management · Integrated risk management framework

16:15 END OF DAY ONE

Thursday, 1 August 2013

8:30 REGISTRATION

9:00 ERM in Asia—A Practical View Ellen Yang, IFoA 9:40 Half Day Workshop Facilitators

The workshop will cover the subjects that actuaries face on a day-to-day basis through utilizing group discussions on a case study.

10:30 BREAK

10:50 Half Day Workshop (cont’d) 12:50 Closing Remarks

13:00 LUNCH & END OF DAY TWO

Sign up online at:

http://actuaries.org.my/joint-regional-seminar-kl-2013/

Deadline for early bird: 19 July 2013

Sign up and Payment Dates

- RM 600 per person for early bird (before 19 July 2013)

- RM 650 per person thereafter

By Cheque

Made payable to: Actuarial Society of Malaysia

Mail to : Lim Weng Soon - Great Eastern Life Assurance (M) Berhad

Level 20, Menara Great Eastern, 303 Jalan Ampang, 50450 Kuala Lumpur

By Bank Transfer

Name: Actuarial Society of Malaysia

Bank: Malayan Banking Berhad

Account No.: 514011146845

Email the transfer slip to secretary@actuaries.org.my OR fax to +60 3 4259 8097.

Cancellation Policy Cancellations should be made by contacting secretary@actuaries.org.my, and also confirmed in writing. No refunds will be made for cancellations after 24 July 2013. The Society reserves the right to cancel the seminar if conditions warrant.

Co-Sponsored with:

Actuarial Society of Malaysia

Organized by:

Institute and Faculty of Actuaries Actuaries Institute Australia

Society of Actuaries - China Region Committee

Venue : Le Meridien Kuala Lumpur - 2 Jalan Stesen Sentral, Kuala Lumpur Sentral, Kuala Lumpur, Malaysia