MALTA INTERNATIONAL TRAINING CENTRE

member association of affiliated partners

MARM is supported by

Obtaining More Value From

Risk & Actuarial Functions Wednesday 15 March 13:30 to 17:10 @ Deloitte Place, Mriehel By-Pass, Mriehel

Most insurers based in Malta ten years ago would not have had risk or actuarial functions, other than those in life business. Fast forward to present day and all have had to implement these as key functions expected by regulations. Beyond compliance are these functions providing added value to the business?

In this event, with a focus on the insurance sector, we aim to provide insight and thought leadership gained from experienced risk and actuarial professionals on how organisations embed and make best use of these new functions.

We will also use this opportunity to briefly show how insurers operating internationally can deal with challenges posed by OECD’s BEPS project.

The event will be concluded by a panel session discussing emerging risks and opportunities.

This event is a joint collaboration between the Malta Association of Risk Management www.marm.org.mt (MARM), the Malta Actuarial Society www.maltaactuarialsociety.org (MAS) and the University of Malta. We are also pleased to have the keynote delivered by Julia Graham, an internationally renowned risk and insurance professional.

Who should attend: The event will be of particular interest within the insurance sector for directors, senior managers, risk managers, actuaries and captive owners and other risk professionals working in the financial services industry.

Fee: Free for UOM students, €10 for MARM and MAS members, €40 for all other delegates.

A letter confirming attendance, which could be used for CPE/CPD purposes, will be provided.

Programme 13:30 Registration and Welcome Refreshments

14:00 Opening by President of MARM — Ian-Edward Stafrace

14:10 Improving risk-return and resilience through Enterprise Risk Management — Julia Graham The incentive for organisations to be resilient goes well beyond merely avoiding disaster. Companies

confident in their risk management can be more enterprising, thereby not only identifying risks but also seizing opportunities. Practical examples will also be included in areas such as scenario analysis and risk culture, which will demonstrate the type of knowledge, skills and tools tomorrow’s risk manager needs to have.

15:00 Actuaries – adding sustainable value to insur ance — Clayton Balkind and Jean-Paul Shipley This short talk will aim to demystify the actuarial role, go beyond solvency and explain how actuaries look

into the future to manage cash flows, assets, liabilities and risks to add real value to insurers. We will show how structured thinking and actuarial analysis helps insurers manage their liabilities, products and balance sheets to improve their returns to shareholders

15:40 Networking Coffee Break

16:00 Solutions for BEPS — Karl DeGiovanni The OECD’s Base erosion and profit shifting (BEPS) project is impacting captives and insurers operating

internationally especially in areas of what constitutes a permanent establishment (Action 7), transfer pricing (Actions 8-10), country-by-country reporting (Action 13) and controlled foreign company rules (Action 3). This session aims to provide insight into how the main challenges can be tackled.

16:30 Emerging Risks Panel — Ian Coppini (Moderator), Julia Graham, Clayton B alkind, Karl DeGiovanni, Ian-Edward Stafrace

This panel will discuss emerging risks affecting the insurance sector. The discussion will go beyond cyber risk to include other areas such as talent retention and Insuretech disruptors. The questions of insurability of emerging risks will also be discussed including opportunities for insurers or for widening the use of captives to address the gaps.

17:10 Closing

Speaker Profiles

Julia Graham

Julia is the Deputy CEO and Technical Director of Airmic, the UK association of risk and insurance professionals. She heads the development of a technical agenda which includes strategic thought leadership on risk and insurance issues and the learning and development needs of Airmic members.

Julia has been a risk and insurance professional for over 40 years, most recently as Director of Risk Management and Insurance for the global law firm DLA Piper International LLP.

Julia is a fellow of the Chartered Insurance Institute, a Fellow of the Business Continuity Institute, UK lead expert for the development of the global risk standard ISO 31000, past President of FERMA, the Federation of European Risk Management Associations and a Non-Executive Director of several captive insurance companies.

Clayton Balkind is a qualified actuary working for MAPFRE MSV Life as their Chief Actuary since 2012. His responsibilities range from solvency and financial reporting to new product development. He previously worked in life insurance and consulting in South Africa and the UK, with his most recent roles being at HSBC and KPMG. Clayton has also regularly volunteered his services to the Actuarial Profession where he has chaired the Policyholder Behaviour Working Party, served on the Health Care Conference organising committee and acted as an assistant examiner. He is a founding member of the Malta Actuarial Society.

Karl DeGiovanni is Managing Director of Aon's captive and insurance management office in Malta. His responsibilities include developing Aon's offering and creating value for clients and stakeholders. Karl joined Aon in 2008 in Guernsey taking responsibility for a number of captives whose parents operate in a wide range of industries. He moved to Aon in Gibraltar in 2012 as Associate Director responsible for Client Relationship and Business Development. In 2015 Karl moved back to Malta to head Aon's office here. He is a qualified accountant, holds a CPA warrant and is a Fellow of the Malta Institute of Accountants.

Jean-Paul Shipley is a Senior Actuary at Munich Re of Malta p.l.c. working in the Underwriting department since 2010. He has over 15 year’s actuarial experience. In 2012, he was a founder member of the Malta Actuarial Society, was MAS President from July 2014 to June 2016, and remains part of the Executive Committee currently. He acquired the Chartered Enterprise Risk Actuary qualification in 2015 (CERA) from the Institute and Faculty of Actuaries (UK).

Registration Cheques payable to MARM may be sent to MARM c/o MITC TG complex Suite 3 level 1 Brewery Street Mriehel BKR3000 or Bank Transfer as follows to: (please quote your full name in the transaction reference) HSBC Bank Malta plc. A/C 050 098060 001 IBAN: MT32MMEB44509000000050098060001 BIC: MMEBMTMT Branch: Luqa BOV Malta plc. A/C 40021228973 IBAN: MT47VALL22013000000040021228973 BIC: VALLMTMT Branch: Mriehel

� Full Time University Student � MARM Member � MAS Member � Other Delegate

Registration: secretary@marm.org.mt

Name _______________________________________ Surname ______________________________________

Company_____________________________________E-mail_________________________________________

Ian Coppini is an Audit Director at Deloitte Malta with over 15 years’ experience specialising in financial services entities. Ian worked on short-term overseas engagements with other Deloitte offices, mainly in Luxembourg. Ian also worked for an 18 month period with the Deloitte New York firm specialising in audits of listed entities operating within financial services. For the last 8 years Ian focused on the insurance industry and today acts as audit director on the majority of Deloitte Malta’s insurance clients. Ian has also been involved on a number of non-audit engagement services to clients operating in the insurance industry as a subject matter expert.

Ian-Edward Stafrace co-founded and is President of MARM. He is Chief Risk Officer and Executive Committee member of Atlas Insurance PCC. Since 2000, he worked in various roles within the group including commercial underwriting, business intelligence, project management, captives and protected cells, developing passion for effective enterprise risk management. He is also Risk Manager and Chair of the Risk & Regulatory Committee of Merill SICAV plc, a UCITS collective investment scheme platform. He is an MSc Risk Management graduate, Chartered Insurance Risk Manager, Fellow of the Chartered Insurance Institute and Fellow of the UK Institute of Risk Management.