Kuala lumpur’s joint Regional Seminar 2017

“ Divergent –

The Devil is in the Details”

Venue:

PULLMAN HOTEL KUALA LUMPUR CITY CENTRE HOTEL & RESIDENCES

Organized by:

Co-sponsored with:

Welcome to the Joint Regional Seminar 2017

OBJECTIVE

The Joint Regional Seminar (JRS) is an annual event co-organized by the Institute & Faculty of Actuaries, Actuaries Institute Australia and Society of Actuaries with the support of the local actuarial societies in the region and designed to assist actuaries and other professionals in meeting CPD requirements.

THE SEMINAR

The JRS 2016 attracted a turnout of 740 participants in total. Thank you to all for your support! We are keen to put on another great seminar this year and it is with pleasure that we invite you to join us in the JRS in one of the following locations:

Given that actuaries like details and last year’s seminar feedback called for more detailed and advanced applications, the Committee decided to build on last year’s theme (Back to the Basics - Evolving Technical Matters) and to provide attendees a glimpse of the different approaches that could exist in the detailed application of various regimes and bases that Actuaries in the region are currently exposed to or will be facing in the future. Hence the theme of this year’s seminar is “Divergent – The Devil is in the Details”. The programme will feature the more traditional actuarial topics such as IFRS17, Asian market and product development, as well as sharing of advanced development such as new investment ideas, insurance analytics, etc. In line with this year’s theme, speakers will focus on the detailed application where practice can diverge between countries/companies despite the approach being similar on the surface.

This JRS will bring our audience to focus on understanding the core actuarial technical applications required to adapt to the new and changing landscapes, regulations, technology. We are confident that this will be a seminar that all levels of actuaries could benefit from.

CPD

The Joint Regional Seminar qualifies for (Actuaries Institute Australia / IFoA / SOA / ASM) Continuing Professional Development (CPD). Actuarial members may find it a useful contribution to their personal professional development. A maximum of 8.4 CPD hours* can be claimed from the Kuala Lumpur JRS. The amount of hours recorded is left to the discretion of the individual.

* 1 CPD hour = 60 minutes

Mon - Tue 31 Jul - 1 Aug Taipei (1.5 days)

Wed 2 Aug Hong Kong

Fri 4 Aug Bangkok

Mon - Tue 7 - 8 Aug Kuala Lumpur (1.5 days)

Dustin Ball

Partner, APAC Insurance Transactions Leader, EY

Dustin Ball is a partner and the EY Asia-Pacific Insurance Transactions Leader for Transaction Advisory Services

bringing a full range of services to insurance clients of EY firms in Asia. He brings years of experience in strategy

development, M&A, market entry, distribution channel transformation, partnerships, joint ventures and portfolio

optimization.

Based in Hong Kong, Dustin has been living and working in Asia since 2004. Prior to joining EY, Dustin was the CEO

of BIDV MetLife, a joint venture between MetLife and BIDV in Vietnam. He led the formation of the joint venture,

licensing and start-up of the company, and then served as CEO until 2016.

Before working at BIDV MetLife, Dustin was the Asia-Pacific head of strategic development for several leading

multinational insurers, where he was responsible for overseeing mergers and acquisitions in Asia, as well as

developing new market-entry strategies.

Dustin holds a Bachelor of Science in Chemical Engineering from the New Jersey Institute of Technology and an

MBA in Finance and International Business from New York University’s Leonard N. Stern School of

Business.

Dion Heijnen, AAG

Senior Consultant, Willis Towers Watson

Dion has more than 12 years working experience in the insurance industry. He has expertise in the following

areas: Embedded value reviews in Europe and Asia, including MCEV, EEV and TEV, Merger and acquisition / Initial

public offering. Supported on M&As and IPOs with due diligence and valuation in Europe and Asia, including: Due

diligence of an insurer in the Philippines and South Korea, and Valuation support for an insurer in Malaysia and

Taiwan. Solvency II (mainly Pillar 1) & internal economic capital reviews, Asset-liability management, including

implementation of an asset-liability management model for a Hong Kong-based insurer and Appointed actuary

reviews in Europe. Dion is a Senior Consultant in the Life insurance practice of Risk Consulting & Software in Hong

Kong. He has been seconded to Hong Kong from the Netherlands since March 2015. Dion holds an MSc in

Econometrics from the VU Amsterdam (2004), an MSc in Financial and Actuarial Engineering (2005) and an MSc in

Insurance (2006) from the Katholieke Universiteit Leuven. He has been awarded the Charter Financial Analyst

Charterholder (2014). And he is also a member of the Dutch Society of Actuaries ("Actuarieel Genootschap").

Ken Liang, ASA

Assistant Director, Moody’s Analytics

Ken Liang is an assistant director at Moody’s Analytics based in Hong Kong, responsible for the insurance segment

in the Asia-Pacific region. In his current role, he provides insightful advice and solutions to clients on areas

including risk management, quantitative methodologies, economic scenario simulation, market risk and economic

capital modeling.

Prior to his current role, Ken led stochastic model team of AXA Hong Kong and has served in actuarial area of life

insurance for more than 15 years. He is an Associate of Society of Actuaries and Chartered Enterprise Risk Analyst.

He holds BSc degree in applied mathematics from Sun Yat-Sen University.

James Lin

Senior Manager, EY

James is a Senior Manager in EY's Asia-Pacific Insurance Advisory Services Group. He has led multiple

projects in strategy development, business analytics, investment analytics, risk and capital management

with banks and insurance companies in Australia and Asia.

David Lu

Deputy Regional Chief Medical Officer, Vice President, Life & Health Products, Swiss Re

David Lu joined Swiss Re in January 2013 as the Deputy Regional Chief Medical Officer of Asia. He is

responsible to assist the Chief Medical Officer in supporting our clients to solve all medical risk challenges

related to underwriting, claims and product designs cross Asia, with focus on Greater China region. Prior to

joining Swiss Re, David was the head of medical underwriting and medical consultant for Bupa in Hong Kong.

David is the member of AAIM (American Academy of Insurance Medicine), and ALUCA (The Australasian Life

Underwriting and Claims Association).

David is an orthopedic surgeon, received his Bachelor degree at Beijing Medical University, PhD degree at

Hokkaido University in Japan. He has written extensively on his research areas and was the Best Paper

winner in 2001 SICOT in Paris, and 2009 SPINE Young Investigator Research Award winner.

Paul Manson

Director, Moody’s Analytics

Paul Manson is a Director, ERS Insurance at Moody's Analytics. He joined Barrie and Hibbert (acquired by

Moody's Analytics in 2011) in 2007. He has participated in many projects relating to life insurance solutions,

specialising proxy modelling. Paul has work with a number of insurers to implement proxy model solutions

for their internal capital models and to support the Own Risk and Solvency Assessment (ORSA). Since 2015,

Paul has been located in Tokyo, responsible for advisory and business development, including

implementation of ESG, proxy modelling, and stochastic investment planning solutions. Paul holds a

Bachelor degree in Computer Science from University of Aberdeen and is also a CFA Charterholder.

Craig Turnbull, FIA

Standard Life Investments

Craig Turnbull joined Standard Life Investments in March 2015 after a fifteen-year career at Barrie &

Hibbert. At B&H, he was Head of Research and Advisory, overseeing industry-leading work in insurance asset

-liability modelling, economic capital, Solvency II and the hedging of insurance liabilities. At SLI, Craig leads

the Insurance Solutions team, which works closely with Standard Life Investment’s global insurance client

group to support their insurance asset management requirements. Craig qualified as a Fellow of the

Institute and Faculty of Actuaries in 2003. In 2013, he was awarded the Institute of Actuaries’ Peter Clark

Prize for best actuarial research paper. He is the author of the recently-published book, A History of British

Actuarial Thought.

Farzana Ismail

Milliman Advisors Sdn Bhd

Farzana Ismail heads the Life Insurance and Family Takaful Consulting practice in Kuala Lumpur, Malaysia.

Farzana has fifteen years’ experience in the life insurance and family takaful industry. She was previously a

Partner in Actuarial Partners Consulting in Malaysia. Prior to this, she was a senior consulting actuary in

Milliman London. Farzana has worked on client assignments in Europe, US, Middle East and Asia Pacific.

Farzana has significant experience in par business management both in the UK and Malaysia. She worked on

the management of participating par business for a mutual in the UK for nearly a decade, including

developing the Principles and Practices of Financial Management for the par fund and a stochastic asset-

liability management model with dynamic management action, which was subsequently used for Solvency II

reporting purposes. She was also involved in a large number of Part VII transfers of par business in the UK

which requires an independent assessment on the fairness of the scheme and its potential impact to the

level of security and expected benefits payouts to the par policyholders. In Malaysia she has been involved

in the review of the Management of Par Business policy for many multinationals in light of the new par

regulations.

Hassan Scott Odierno

Actuarial Partners Consulting

Hassan Scott Odierno is an American who has been a partner with Actuarial Partners Consulting in Malaysia

and involved in insurance consulting and Risk Based Capital (RBC) since 1996. He was part of industry

discussions with the Monetary Authority of Singapore to develop RBC there. He was also an industry

representative to Bank Negara Malaysia in developing RBC regulations. His role as appointed actuary to

insurers in countries such as Malaysia, Sri Lanka, Kenya, Brunei and Mauritius has allowed him to

understand the challenges of taking RBC regulations from the developed world. He is a co-author of the

World Bank book Takaful and Mutual Insurance, co-author of the book Essential Guide to Takaful and a

contributing author to the books Actuaries in Microinsurance and Health Insurance in Asia. He is also the

external advisor to two universities in Malaysia to their risk management and actuarial science

programs. Hassan is a Fellow of the Society of Actuaries, and has a Bachelor of Science degree with high

distinction in Mathematics from Worcester Polytechnic Institute in the USA.

Nicholas Yeo Chee Lek FIA FASM FSA FSAS

Nicholas Actuarial Solutions

Nicholas is the Founder & Actuary of Nicholas Actuarial Solutions, a technology focused actuarial firm, with

propositions in artificial intelligence, insurtech and analytics. In June 2017, Nicholas Actuarial Solutions has

received official recognition from the Government of Malaysia for its pioneering activities in these fields and

its overall contribution towards the development of Malaysia's digital economy.

Nicholas qualified as a Fellow of the Institute and Faculty of Actuaries in 2008. He is also a Fellow of the

Actuarial Society of Malaysia, Fellow of the Society of Actuaries and Fellow of the Singapore Actuarial

Society. He is a council member of the SOA's entrepreneurial and innovation section.

0830 - 0900 Registration

0900 - 0910 Welcome Remarks Actuarial Society of Malaysia Representative

0910 - 1000 Insurance Investment: Global Trends - Local Solutions

Divergent Investment Trends across Asian Insurance Markets

Craig Turnbull, Standard Life Investments

1000 - 1020 Morning Coffee Break

1020 - 1110 Seeing the Future? How Genetic Testing will Impact Life Insurance

Dr. David Lu, Swiss Reinsurance

1110 - 1200 Undiscovered Opportunities - Advanced Analytics for Insurance Distribution

James Lin and Dustin Ball, EY

1200 - 1330 Lunch

1330 - 1420 Asset Liability Management Best Practice in Insurance

Paul Manson and Ken Liang, Moody’s Analytics

1420- 1510 Participating business and its management in Asia - A divergent trend?

Farzana Ismail, Milliman Advisors Sdn Bhd

1510 - 1530 Afternoon Coffee Break

1530 - 1620 Takaful 2.0: Continuing convergence or divergence as a strategic option

1620 - 1710 An Actuarial Journey in Insurtech

Nicholas Yeo Chee Lek FIA FASM FSA FSAS, Nicholas Actuarial Solutions

Theme: Divergent—The Devil is in the Details

7 Aug 2017 (Day 1)

0830 - 0900 Registration

0900 - 0950 Presentation to be announced

0950 - 1040 Practical Application of the New International Financial Reporting Standard

for Insurance Contracts

Dion Heijnen, Willis Towers Watson

1040 - 1100 Morning Coffee Break

1100 - 1200 IFRS 17 Panel

Chair: Dion Heijnen, Willis Towers Watson

Panelists: To be announced

1200 - 1210 Closing Remarks

Actuarial Society of Malaysia Representative

1210 Lunch

Theme: Divergent—The Devil is in the Details

8 Aug 2017 (Day 2)

Organized by:

● Institute and Faculty of Actuaries

● Actuaries Institute Australia

● Society of Actuaries

Co-Sponsored with:

Actuarial Society of Malaysia

Sign up online at:

http://actuaries.org.my/joint-regional-seminar-2016/

Deadline for registration: 26 July 2017

Registration and Payment Method

RM 600 per person for early bird (before 18 July 2017)

RM 700 per person thereafter

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 26 July 2017. The Society reserves the right to cancel the sem-

inar if conditions warrant.

Date : 7—8 August 2017

Venue : Pullman Kuala Lumpur City Centre Hotel & Residences,

Jalan Conlay, 50450 Kuala Lumpur, Malaysia