Insurance Asset Risk Asia 2023 (Virtual) Conference

MACRO TRENDS & ASSET ALLOCATION STRATEGIES

Chair’s opening remarks

Vincent Huck, Editor, Insurance Asset Risk

Keynote Interview: China’s macro economic and market condition post COVID

Benjamin Deng, Group Chief Investment Officer, Ping An Group

Keynote Address: asset allocation under the new C-Ross regulations

Learn why and how the rules for market risk in C-Ross Phase I were revised, for Phase II. The market risk module in C-Ross contains the rules, concepts and framework, by which Chinese insurers invest. These rules include solvency capital charges, and allow for concepts such as look-through. How have the new revisions made improvements on Phase I, and how have the updated regulations enabled evolutions in the capital/investment markets generally?

Xin Liu, General Manager - Investment Management, Sunshine Insurance Group

Liability-driven asset allocation strategies in the economic downturn: navigating volatility, inflation and rising interest rates

• What do current geo-political tensions, the energy crisis and global financial instability mean for the APAC region, and insurers' investment strategies?
• As interest rates rise, and the "lower for longer" approach diminishes, how do investments need to adapt accordingly to manage liabilities and achieve capital efficiencies?
• Discussing the impact of global inflation, stagflation, supply chain disruption and currency volatility on assets and liabilities – how are insurers in the different Asian markets reacting? What are the key strategies for finding downside protection?
• With current liquidity challenges, what does this mean for asset allocation strategies? Will allocations continue to alternatives and illiquid assets?
• Examining shifts in fixed income strategies, such as changes in corporate and government bond allocations

Moderator:
David Walker, Senior Staff Writer and Head of Projects, Insurance Asset Risk

Panellists:
Byungkyu Cheon, CFO, DGB Life Insurance
John Zhu, Chief Economist Asia, Swiss Re

End of day one

*agenda may be subject to change

ESG, REGULATIONS & STANDARDS

Chair’s opening remarks

Vincent Huck, Editor, Insurance Asset Risk

Keynote Address: The path to net zero in Asia and the role of regulators and insurers

Updates on transition strategies to meet net zero targets, plans for financing the transition, including green bond issuance, and the role of regulators and the insurance industry in the journey to net zero.

Satoshi Ikeda, Chief Sustainable Finance Officer, Financial Services Agency, Government of Japan

Panel: Insurers’ insights on ESG and climate transition strategies in the APAC region

• To what extent is ESG still a "conviction-based" investment strategy in Asia? What are the drivers and inhibitors for more mainstream ESG adoption?
• Comparing ESG definitions and approaches between different insurers in the region, and strategies for preventing greenwashing
• How are the higher interest rates, uncertainty over inflation and the need for capital efficiency impacting ESG investment strategies?
• ESG in the light of the energy crisis and need for energy security: whilst the long term drive will be for renewables, how to get the right asset mix during the transition phase?
• Engagement vs. exclusion/divestment – how much influence can an insurer have?
• Discussing ESG data challenges, such as lack of convergence and lack of availability and consistency, particularly in emerging markets: does it make more sense to have localised frameworks?
• Defining transition, and how it can be financed – what role should policymakers, financial institutions and asset owners play?
• Incorporating Scope 3 emissions into your net zero strategy
• Developments in newly emerging areas such as climate risk stress testing and scenario modelling

Moderator:
David Walker, Senior Staff Writer and Head of Projects, Insurance Asset Risk

Panellists:
Liza Jansen, Head of Responsible Investment, Prudential
Toshinori Kurisu, General Manager – ESG Investment Strategy Office, Nippon Life Insurance Company

Panel: IFRS 17/9 - what has been the impact on investment and ALM strategies since implementation? Lessons learned and experiences shared

• How are things playing out since the go-live date of January 2023, when all liabilities will be measured at market value?
• What new complexities have been created from an asset management perspective? Has there been more need to hire external asset managers?
• Group reporting vs. local reporting – how do the challenges differ between multinational insurers and local insurers?
• Experiences shared from markets where IFRS is being implemented alongside RBC
• How is IFRS likely to impact investment decisions and asset allocation in the longer term?

Moderator:
Vincent Huck, Editor, Insurance Asset Risk

Panellists:
Blake Sowerby, IFRS 17/9 Programme Manager Asia Region, Generali
Tao Xing, Head of Risk, BOC Group Life Assurance Company

End of conference

*agenda may be subject to change