AM Best’s Insurance Market Briefing - Singapore International Reinsurance Conference (SIRC)

AM Best's Insurance Market Briefing - Singapore International Reinsurance Conference (SIRC) returned on 1 November 2022.

AM Best analysts reviewed global and Asia-Pacific reinsurance markets; explored the market outlooks for North Asia and Southeast Asia; and presented AM Best's recently launched Best’s Performance Assessment for Delegated Underwriting Authority Enterprises (PA for DUAEs).

Access recent research, insights and analysis.

AM Best's Insurance Market Briefing - SIRC
1 November 2022, 4:00 p.m. SGT
Marina Bay Sands Expo & Convention Centre
Level 3
Heliconia Ballroom

Watch Playback

For More Information:
Rob.Curtis@ambest.com

Agenda

Sessions	Presenters
Global Reinsurance Developments/Market Overview Market trends and developments in both insurance and reinsurance markets	Greg Carter Managing Director, Analytics - EMEA and Asia-Pacific
Northeast Asia Developments/Market Overview Providing an overview of Asia-Pacific major reinsurers’ characteristics/performance Reinsurance trends in China and Japan: Hard market in Japan continues since 2018/19 CAT losses Capacities are affected by global reinsurer capacity Does CROSS Phase 2 stimulate reinsurance demand in China?	Christie Lee Senior Director, Analytics - Northeast Asia
Southeast Asia Developments/Market Overview Providing an overview of performance of Southeast Asia reinsurers Rate environment, capacity Major recent CAT events: Australian fires and Malaysian flood Government/PPP responses to these e.g., pools/parametric solutions Trends impacting reinsurers: Growth rates across SEA primary markets Developing risk-based regulation across markets affecting cession levels Investment markets: interest rates/fixed income, inflation	Michael Dunckley Director, Head of Analytics – Southeast Asia, Australia and New Zealand
Best’s Performance Assessment for Delegated Underwriting Authority Enterprises Overview Introduction to Best's Performance Assessments Key components Benefits of undertaking a Best's Performance Assessment An MGA perspective on Best's Performance Assessments	Stefan Holzberger Chief Rating Officer Kent Chaplin Chief Operation Officer Delta Insurance Group

Moderator:

Rob Curtis

CEO & Managing Director, Market Development

Rob Curtis is the CEO of AM Best's Singapore subsidiary and managing director for the Asia-Pacific region, responsible for the company's strategic market development.

Rob has more than three decades of experience in the insurance industry. Prior to joining AM Best in 2022, he was the head of the major groups and technical expert teams at Hong Kong’s Insurance Authority (IA), responsible for the development of Hong Kong’s new group-wide supervision and macro-prudential frameworks. Additionally, he was the chair of the International Association of Insurance Supervisors (IAIS) working group on group-wide supervision during his time at the regulatory body. Prior to the IA, Rob was KPMG’s global regulatory lead for insurance while concurrently heading up the Asia Pacific (ASPAC) insurance risk and regulatory practice.

He holds advanced degrees in the areas of financial services and management and is a distinguished fellow of the IAIS and an honorary fellow of the Institute and Faculty of Actuaries.

Speakers:

Greg Carter
Managing Director, Analytics - EMEA and Asia-Pacific

Greg's career started with Standard & Poor’s and has spanned over 30 years in the insurance sector. Greg worked for Bank of America in the mid-1990s and he established AM Best's first overseas office in London in 1997. In 2001, he joined Fitch Ratings and led the analytical team for Europe, Middle East, Africa and Asia. Greg has also spent time with the U.K. regulator, the FSA. He served on the board of Capita Commercial Insurance Services and prior to his current role was based in Hong Kong with Ernst & Young.

In September 2015, Greg re-joined AM Best as Managing Director - Analytics in the London office and is responsible for the agency’s credit ratings in Europe, Middle East, Africa and Asia-Pacific. In July 2019, Greg relocated from London to Singapore.

Christie Lee, FCAS

Senior Director, Analytics - Northeast Asia

Christie is a senior director of A.M. Best Asia-Pacific Limited based in Hong Kong, leading the rating analytics function for Northeast Asia region covering Greater China, Japan and Korea.

Prior to joining AM Best, Christie was a senior vice president with Guy Carpenter, responsible for actuarial services for Taiwan, Japan and Marine & Energy specialty lines for Asia-Pacific. In addition, Christie has worked for Deloitte and Willis Towers Watson in Hong Kong, and has spent her early career with Insurance Corporation of British Columbia in Canada, responsible for reserving and capital management functions. Christie has a wide range of insurance experience in the areas of reinsurance, risk management, economic capital modelling, corporate business planning, reserving, and insurance mergers and acquisitions.

Christie is a Fellow of the Casualty Actuarial Society. She holds a bachelor of science degree in Actuarial Science from Simon Fraser University in Canada and an MBA from The University of Hong Kong.

Michael Dunckley

Director, Head of Analytics – Southeast Asia, Australia and New Zealand

Michael is responsible for AM Best’s ratings of insurance and reinsurance companies in South-East Asia, Australia and New Zealand. He is based in Singapore.

Michael has worked with insurers across the sector, ranging from international multi-line writers, reinsurers, captives and niche players. He has previously worked in AM Best’s London and Amsterdam offices, covering insurance ratings across EMEA.

Michael is a contributing author to various AM Best research reports, as well as to external publications. His publications have covered COVID-19 medical claims in Thailand, the Italian insurance market, ESG, captive domicile regulation, Islamic insurance, catastrophic flood risk and insurers' exposure to sovereign default.

Michael has particular research interests in risk-based solvency (including Solvency II), hybrid capital, ESG, captives and Islamic insurance. He is a CFA charter holder.

Stefan Holzberger

Chief Rating Officer

Stefan joined AM Best in 2001 in the U.S. as a financial analyst in the property/casualty rating division. In 2004, he assumed the position of assistant vice president responsible for the ratings of roughly 100 excess and surplus lines and specialty insurance organizations. In 2008, Stefan’s responsibilities shifted to the development and dissemination of rating criteria and methodology, as well as regulatory policy development. Currently, Stefan is chief rating officer of AM Best, where he is responsible for the agency’s global ratings coverage.

Stefan’s insurance career started at the Jefferson Insurance Group, a specialty lines writer and subsidiary of Allianz SE. He began as an internal auditor and later became the audit manager responsible for internal audits, as well as monitoring the financial strength and internal controls of the group’s managing general agents and third party claims administrators.

Stefan received his undergraduate degree from Bucknell University and an MBA in Finance from Fairleigh Dickinson University. Stefan holds the Chartered Financial Consultant designation and is a licensed Certified Public Accountant.

Kent Chaplin

Group Chief Executive Officer, Delta Insurance Group

A former CEO and regional head for Lloyd’s in Asia-Pacific, Kent has more than 27 years of experience in the re/insurance industry.

He is a well-known insurance sector figure in Asia-Pacific and globally, having worked in Singapore for Lloyd’s from 2011 to 2018. More recently he worked for US-headquartered company DXC Technology (NYSE: DXC) leading their global reinsurance and specialty sales vertical.

A graduate of Auckland University, Kent began his career in New Zealand in 1993 as a practising barrister and solicitor, before moving to London where he practised insurance law. He then entered the insurance industry as claims and account director of a large global broker. In 2004, he took up a senior leadership role as head of claims for Lloyd’s of London, before taking up the Lloyd’s Asia-Pacific role in 2011. He also served as board members of Xchanging Claims Services Ltd, the Monetary Authority of Singapore’s Financial Centre Advisory Panel and Singapore International Maritime Centre 2030 Advisory Board.

He was appointed to Delta Group’s Advisory Board in August 2019 and commenced his role as Chief Operating Officer for Delta Group on 1 April 2021.

Note: The attendees must be registered as SIRC delegates with full passes to attend the session.

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