Location: Hyatt Regency Seattle

Welcome remarks:
Chlora Lindley-Myers – NAIC President and Director, Missouri Department of Commerce and Insurance

NAIC President Chlora Lindley-Myers will welcome IAIS members and stakeholders to Seattle and open the Global Seminar.

Keynote speech:
Jean Pesme – Global Director of Finance, Competitiveness and Innovation, World Bank

Jean Pesme of the World Bank will speak about the development of the insurance industry in emerging markets and developing economies. He will set out the work the World Bank is undertaking to support the development of insurance markets, the assistance it is offering to insurance supervisors and the challenges of addressing climate change and increasing financial inclusion.

Members of the IAIS leadership will discuss progress against the IAIS Roadmap and take audience questions.

Panellists:
Gary Anderson – Vice Chair, IAIS Executive Committee and Commissioner, Massachusetts Division of Insurance
Peter Braumüller – Chair, IAIS Implementation and Assessment Committee and Managing Director of Insurance and Pension Supervision, Austrian Financial Market Authority
Jonathan Dixon – Secretary General, IAIS 
Dieter Hendrickx – Chair, IAIS Macroprudential Committee and Head, Prudential Policy Insurance, National Bank of Belgium 
Petra Hielkema – Chair, IAIS FinTech Forum and  Chairperson, European Insurance and Occupational Pensions Authority
Siham Ramli – Vice Chair, IAIS Executive Committee and Director of Communication and International Relations, Autorité de Contrôle des Assurances et de la Prévoyance Sociale Morocco
Vicky Saporta – Chair, IAIS Executive Committee and Executive Director, Prudential Regulation Authority and Bank of England
Matt Walker – Chair, IAIS Policy Development Committee and Manager, Insurance Supervision and Regulation Section, Federal Reserve Board (FRB) of the United States
Daniel Wang – Chair, IAIS Climate Risk Steering Group and Executive Director, Insurance Department, Monetary Authority of Singapore

This panel will consider the rapidly changing InsurTech landscape with a focus on artificial intelligence and machine learning.

Moderator:
Petra Hielkema – Chair, IAIS FinTech Forum and Chairperson, European Insurance and Occupational Pensions Authority

Panellists:
Beth Dwyer – Superintendent of Insurance, Rhode Island Department of Business Regulation and Chair of the NAIC Big Data and Artificial Intelligence Working Group
Sheila Senfuma Nakanyike – Head of Programme, Digital Finance, Consumers International
Sophie Sirtaine – Chief Executive Officer, Consultative Group to Assist the Poor
Rong Yi – Principal, Data Science Modeling Practice, Milliman

This session will focus on how climate-related risk should be reflected in insurance supervision. The panel will also discuss feedback on the IAIS consultation and next steps of the IAIS climate risk work.

Moderator:
Daniel Wang – Chair, IAIS Climate Risk Steering Group and Executive Director, Insurance Department, Monetary Authority of Singapore

Panellist:
Ramon Carrasco – Group Chief Risk Officer, Mapfre
Mlondolozi (Lotz) Mahlangeni – Chief Actuary and Chief Risk Officer, Sanlam Limited
Marina Moretti – Deputy Director, Monetary and Capital Markets Department, International Monetary Fund
Dimitris Zafeiris – Head of Risks and Financial Stability Department, EIOPA

Three concurrent roundtable sessions will provide an opportunity for IAIS members and stakeholders to discuss key issues on the IAIS Roadmap. Participants should expect to be actively involved in small table discussions with supervisors.

Registration for these sessions will take place on-site.

Diversity, equity and inclusion (DEI) roundtable
This roundtable session will consider governance, risk management, corporate culture and fair treatment of customers issues in the insurance sector related to DEI.

Cyber underwriting and operational risk roundtable
This roundtable session will provide an opportunity for discussion on the work of the Operational Resilience Task Force and the IAIS’ work to assess risks to the insurance sector from cyber underwriting.

Moderator:
Todd Coslow – Chair, IAIS Operational Risk Task Force and Assistant Vice President, Supervision and Regulation, Federal Reserve Bank of Chicago

International Actuarial Association: The introduction of IFRS17 and solvency measurement systems

IFRS17 is now effective for annual reporting periods starting on or after 1 January 2023. Some jurisdictions have decided to amend their solvency capital requirements to be based on IFRS 17 balance sheets, recognising that the new international accounting standard brings increased transparency and comparability of risks across the global insurance industry.

As a financial reporting regime, IFRS is focused on reporting not only the financial position at the balance sheet date but also the performance in the period. However, a prudential regulatory regime is focussed on the financial strength (capital resources) of the insurer as opposed to its performance during the year. Hence, some jurisdictions have decided to continue with their existing solvency regimes. This session, organised by the International Actuarial Association, will look at the benefits and drawbacks of the two approaches via an interactive panel of experts.

Moderator:
Nick Dexter – Chair, Insurance Regulation Committee, International Actuarial Association

Speakers:
Darrell Leadbetter – Senior Director, Insurance and Pension Supervision, Office of the Superintendent of Financial Institutions, Canada
Tara Wolf – Principal, Insurance and Actuarial Advisory Services, Ernst & Young

Panel discussion on emerging risks being considered as part of the IAIS’ Global Monitoring Exercise. The panel will consider the impact of the global economic and financial markets outlook on the insurance sector.

Moderator:
Dieter Hendrickx – Chair, IAIS Macroprudential Committee and Head, Prudential Policy Insurance, National Bank of Belgium

Panellists:
Tom Bolt – Chief Risk Officer, AIG
Carlo Ferraresi – Group Chief Risk Officer, Generali
Patrick Montagner – First Deputy Secretary General, Autorité de Contrôle Prudentiel et de Résolution / Banque de France
Cecilia Zhang – Chief Risk Officer and Chief Compliance Officer, Ping An Group

What risks will the insurance sector face in 2030? How should supervisors prepare for these risks?

The panel discussions will be focused on considering future risks to the IAIS’ High Level Goals and issues that could be covered in our new 2025-2029 Strategic Plan.

Panel 1: Assessing and responding to market developments and standard setting

Moderator:
Andrew N. Mais – Insurance Commissioner, Connecticut

Panellists:
Jad Ariss – Managing Director, Geneva Association
Clement Cheung – Chair, IAIS Audit and Risk Committee and Chief Executive Officer, Insurance Authority Hong Kong 
Stefan Holzberger – Chief Rating Officer, AM Best
Susan Neely – President and CEO, American Council of Life Insurers and President, Global Federation of Insurance Associations

Panel 2: Supervisory practices and observance of standards

Moderator:
Peter Braumüller – Chair, IAIS Implementation and Assessment Committee and Managing Director, Insurance and Pension Supervision, Austrian Financial Market Authority

Panellists:
Jon Godfread – Insurance Commissioner, North Dakota
Mary Frances Monroe – Director, Insurance Regulation and Policy, Institute of International Finance
Tomas Soley – General Superintendent of Insurance, Costa Rica and President, Association of Insurance Supervisors of Latin America
Laura Tamblyn Watts – CEO, CanAge

As natural catastrophe protection gaps continue to grow, this fireside chat will discuss the IAIS’ work to consider the role insurance supervisors have to play, working with insurers, policymakers and other stakeholders, to address these gaps.

Moderator:
Farzana Badat – Deputy Commissioner, Financial Sector Conduct Authority

Panellists:
Shigeru Ariizumi – Vice Chair, IAIS Executive Committee and Vice Commissioner for International Affairs, Japan Financial Services Agency
Yoshihiro Kawai – Chair, OECD Insurance and Private Pension Committee and Chair, Global Asia Insurance Partnership
Michel M. Lies – Chairman, Insurance Development Forum and Zurich

Update on the Insurance Capital Standard (ICS) project including a panel discussion on the upcoming public consultation and the ICS economic impact assessment.

Moderator:
Paolo Cadoni – Vice Chair, IAIS Policy Development Committee and Head, Insurance Policy Division, Bank of England

Panellists:
Gary Anderson – Vice Chair, IAIS Executive Committee and Commissioner, Massachusetts Division of Insurance
Shigeru Ariizumi – Vice Chair, IAIS Executive Committee and Vice Commissioner for International Affairs, Japan Financial Services Agency
Petra Hielkema – Chair, IAIS FinTech Forum and Chairperson, European Insurance and Occupational Pensions Authority
Vicky Saporta – Chair, IAIS Executive Committee and Executive Director, Prudential Regulation Authority and Bank of England

Closing remarks:
Jonathan Dixon – IAIS Secretary General