The Willis Research Network (WRN) is delighted to invite you to our financial seminar on modelling operational and credit risks within the emerging regulatory landscape.

This seminar aims to progress knowledge on quantifying the most challenging risk areas that confront re/insurance company managers.

We will also be holding a special session dedicated to the latest developments in the debate on the financing of mega-catastrophes in the US and elsewhere.

Speakers include WRN Member Professor Paul Embrechts, Director, Risklab, ETH Zurich a world leader in operational risk; Professor Jin Chuan Duan, Director, Risk Management Institute, National University of Singapore who is developing a similar leadership in quantifying corporate credit risk and James Orr, Chief Non-Life Actuary, FSA, who will bring a regulatory perspective on modelling these challenging risk areas.

 

The financing of mega-catastrophes via public and private mechanisms is an area of growing debate. The WRN is delighted to welcome Dr Rawle King, Senior Economist, Congressional Research Service, Library of Congress, Washington DC who is responsible for undertaking research for members of Congress in this area and will address current legislative and policy issues with respect to financing mega catastrophes; Dr Patrick McSharry, University of Oxford will outline the WRN research activities in catastrophe risk financing.

 

Full programme details are below and attached.
 
Registration is free but places are limited, so please RSVP immediately to Nick Thorpe at nick.thorpe@willis.com

 
Provisional Agenda
 

8.45 Registration

 

Introductory Session

 

9.15 Welcome - Rowan Douglas, Chairman, Willis Research Network

9.30 Introduction to Modelling Challenges of these Risks – Johann Meeke, Head of ERM, Willis Re International

10:00 Perspectives of the Regulator – James Orr, Chief Actuary (Non-Life), FSA

10.15 Reinsurer Counterparty Credit in the Current Financial Crisis: Issues for Insurers – Adrian Hammond, Market Security, Willis

 

10.30 Coffee

 

Session One: Credit Risk

 

11.00 Credit Risk Modelling - Ian Cook, Chief Actuary, Willis Re International

11.30 Keynote Speech: Prof Jin Chuan Duan, Director, Risk Management Institute, National University of Singapore

12.15 Perspectives of Rating Agencies – Greg Carter & Chris Waterman, FitchRatings

 

12.45 Lunch

 

Session Two: Operational Risk

 

1.45 Introduction to Operational Risk – David Ingram, Willis Re US

2.00 Keynote Speech: Operational Risk Modelling - The State of the Art, Professor Paul Embrechts, Risklab ETH Zurich

2.45 The World of Operational Risk - John Naish, Willis FINEX

3.05 Operational Risk Loss Database - Dr Mariano Salvaggi, ABI

 

3.25 Coffee

 

Section Three: Catastrophe Risk Modelling, Financing & Public Policy

 

3.45 Representing Catastrophe Risk within Capital Models - Andrew Mitchell, Executive Director, Willis Re

4.00 Mega Catastrophes & US Legislative Reforms - Dr Rawle King, Senior Economist, Congressional Research Service, Library of Congress Washington DC

4.45 Catastrophe Risk Financing, Global Trends - James Vickers, Chairman, Willis Re International

5.10 Emerging Perspectives on Catastrophe Risk Sharing - Dr Patrick McSharry, Smith School of Enterprise & Environment, University of Oxford

 

5.40 Q&A

 

6pm Drinks