THE ASIAN CAPTIVE CONFERENCE 2018
Challenges OF Self-Insurance: Transparency and Digital Disruption
1 - 2 AUGUST 2018
The Asian Captive Conference will be returning for its second year on August 1-2, 2018. The conference is dedicated to the development of self-insurance in the region and is a collaboration between Labuan International Business and Financial Centre and the Labuan International Insurance Association.
This year's conference themed "Challenges of Self-Insurance: Transparency and Digital Disruption" aims to highlight the challenges and disruptors risk managers are facing from technology. At the same time, risk managers are also required to meet the growing demands of tax transparency and substance brought about by multilateral organisations and Regulators.
The conference is expected to share the best practices and strategies relating to various self-insurance models, risk retention approaches and domicile selection adopted by multinational companies and industry professionals. In addition, there will be a dedicated presentation on Protected Cell Companies.
The conference is expected to share the best practices and strategies relating to various self-insurance models, risk retention approaches and domicile selection adopted by multinational companies and industry professionals. In addition, there will be a dedicated presentation on Protected Cell Companies.
Highlights of ACC 2017
AGENDA
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8:00 AMRegistration and Morning Coffee9:00 AMWelcome RemarksYBhg Dato' Mohammed Azlan Hashim, Chairman, Labuan IBFC Inc.9:25 AMPresentationA Self-Insurance Road Map:
Facilitating the Growth of Asian BusinessesBy Oliver Schofield, Head of Captive & Alternative Risk Transfer Consulting, Principal Re Limited9:40 AMPanel DiscussionThe Growth of Self-Insurance in Asia:
An Intersection of Industry and Regulatory DemandsLed byMalcolm Cutts-Watson, Managing Director, Cutts-Watson Consulting Limited10:30 AMNetworking Break11:00 AMPanel DiscussionChallenges of Self-Insurance:Digital Disruption and TransparencyLed byRichard Cutcher, Editor, Captive Review12:30 PMNetworking Lunch2.30 PM
One-on-One InterviewAsia's "Captivating" Women: The Risk of Taking Risk into your Own HandsRisk PersonalityRaziyah Yahya, Board Member, AIG MalaysiaInterviewerSuchitra Narayanan, PARIMA Malaysia3:15 PMPanel DiscussionTax Transparency and Self-Insurance:The Only Constant is ChangeLed byBen Tausig, Tax Partner, Financial Services Deloitte & Touche LLP4:00 PMPanel DiscussionSelf-Insurance and Risk Retention:Why, How and When?Led byDato' Majid Mohamed, Chairman, Etiqa Family Takaful and Etiqa General Takaful5:00 PMClosing RemarksRaymond WongChairman, Labuan International Insurance Association (LIIA)5:15PMEnds with Networking6:30 PMAsia Captive Awards 2018 -
8:15 AMMorning Coffee9:00 AMWelcome RemarksDanial Mah Abdullah, Director-General, Labuan Financial Services Authority (Labuan FSA)9:10 AMPanel DiscussionChoosing a Domicile:Key ConsiderationsLed byGeorge McGhie, Managing-Director, Willis Towers Watson Global Captive Practice10:00 AMNetworking Break10:30 AMPresentationFulfilling the Potential of Protected Cell Companies in AsiaBy Alastair Nicoll, Regional Director, and
George Ong, General Manager of Aon Insurance Managers (Singapore) Pte Ltd
11:00 AMPanel DiscussionAre You Ready to be Asia's Future Risk Manager?12:00 PMClosing RemarksSecretariat Asian Captive Conference 201812:30 PMEnds with Networking Lunch
MEET OUR SPEAKERS
Annie Undikai
Brighton Management Limited
Azmi Abdullah
GHR Risk Management (Labuan) Limited
Richard Cutcher
Captive Review
Malcolm Cutts-Watson
Cutts-Watson Consulting Limited
Danial Mah Abdullah
Labuan Financial Services Authority (Labuan FSA)
Anthony Egerton
Huntington Underwriting Limited
Shiwei Jin
XL Catlin
george kesselman
Anapi and InsurTech Asia Association
Dato' Majid bin Mohamad
Etiqa Family Takaful and Etiqa General Takaful
George McGhie
Willis Towers Watson Global Captive Practice
Dato' Mohammed Azlan Hashim
Labuan IBFC Inc
Naoyoshi Araki
Japan Risk Specialist Limited
Raziyah Yahya
Board Member of AIG
Oliver Schofield
Principal Re Limited
Suchitra Narayanan
PARIMA Malaysia
Benjamin Tausig
Financial Services Deloitte & Touche LLP
Sean Welsch
Zurich Insurance Company Ltd
Raymond Wong
Labuan International Insurance Association
Kelvin Wu
International SOS
Azmi Abdullah
Principal Officer, GHR Risk Management (Labuan) Limited
Azmi Abdullah is currently the Group Treasurer of Genting Berhad. He manages the Treasury of Genting Berhad and has been managing the Group's insurances for more than 25 years. He was involved in the setting up of one of the very first Captive Insurance Company in Labuan in 1999 and is currently the Principal Officer of GHR Risk Management (Labuan) Limited. Azmi graduated with a B Sc Business Administration in Finance from the University of Missouri-Columbia, and has a Masters Degree in Business Administration from the University of Missouri-Kansas City.
Oliver Schofield
Head of Captive & Alternative Risk Transfer Consulting, Principal Re Limited
Oliver brings more than 30 years of captive and ART experience to our clients. He has held a number of executive positions in the global captive and ART sectors since the mid-1980s. He started his career at Alexander Howden in 1986 before moving to Aon in 1996, to RKH Reinsurance Brokers in 2012, to RFIB Group in 2016 before joining Principal Re Limited's Captive & ART Consulting team in 2018.
His particular area of focus has been the incorporation and reinsurance of captives, cell captives and association captives and a myriad of ART structures for a range of different industries from across the world. Specifically in Asia, he has worked with clients in China, Indonesia, Taiwan, Singapore, Malaysia, Thailand, Vietnam and the Philippines.
Oliver has been a speaker at numerous captive and ART industry conferences and has published on topics including the Global, Asian, European and American insurance and reinsurance markets, Captives and ART.
Oliver graduated from the University of Southampton with a BA (Joint Honours) in French and English.
Oliver graduated from the University of Southampton with a BA (Joint Honours) in French and English.
Annie Undikai
Managing Director, Brighton Management Limited
With 20 years of experience in the industry, Annie is a qualified professional accountant and a Certified Financial Planner. A Bachelor‘s Degree (Hons) graduate in Accounting and Computing Science, she gained extensive exposure in handling all aspects of accounts, taxation, investment, administration and management consultancy. She started her career with one of the top five audit firms and from 1997 to 2004, she joined Etiqa Offshore Insurance (L) Ltd (previously known as MNI Offshore Insurance (L) Ltd, a licensed Labuan insurer, Underwriting Manager and Insurance Manager as Head of Operations and Marketing. Prior to 1997, she was the Group Financial Controller of a shipping and transportation company.
12 years ago, she founded Brighton Management Limited, an independent licensed insurance/underwriting manager and specialised in providing insurance management services to insurance and insurance-related entities, including captives and now managing more than 70 clients.
Anthony Egerton
Principal Officer, Huntington Underwriting Limited
Tony has more than 30 years of experience in the (re)insurance industry, specialising initially in the alternative risk transfer/structured finance sector with Centre Reinsurance in London, Hong Kong and New York. In 2003, he was appointed President, Asia-Pacific for Lloyd's, based in Singapore, with responsibility for developing and implementing the market's business development strategy across the region.
Six years ago, he joined Huntington Partners LLP, the independent, specialist strategy consultancy and private equity firm. On behalf of Huntington, Tony is a Director of several regional (re)insurance businesses, as well as being the Principal Officer of Huntington Underwriting Limited, a Labuan Underwriting Manager that operates an underwriting facility for Structured Solutions on behalf of reinsurers with a minimum financial strength rating of A- (Excellent) from AM Best & Company (or equivalent).
In 2015, Tony was appointed to Labuan International Business and Financial Centre's panel of specialists and has been instrumental in providing insurance and reinsurance related advice.
In 2015, Tony was appointed to Labuan International Business and Financial Centre's panel of specialists and has been instrumental in providing insurance and reinsurance related advice.
Naoyoshi Araki
Representative Director, Japan Risk Specialist Limited.
Naoyoshi is the Representative Director at Japan Risk Specialist Limited. After he was graduated from Faculty of Economics, Keio University in 1986, he started his career as the financial derivatives trader at American securities company. In 1998, after 10 years of working as the financial derivatives trader, he started working for the German reinsurance company engaging with reinsurance business, mainly focusing on reinsurance underwriting and assessment work of engineering insurance and property insurance.
In 2007 he started working for Aon Risk Specialist Limited, engaging reinsurance broking business then appointed as the President of the same company in 2008.
In 2009, with the change of shareholders of the company, he became the Representative Director at Japan Risk Specialist Limited.
In 2009, with the change of shareholders of the company, he became the Representative Director at Japan Risk Specialist Limited.
George McGhie
Managing-Director, Willis Towers Watson Global Captive Practice
George has over 37 years of insurance experience. He moved to Singapore 25 years ago, after 6 years with Johnson & Higgins in Bermuda, to establish their Asia captive insurance practice. More recently he managed the broking operations of JLT in HK/China, and established their Regional Employee Benefits practice.
He has been involved in the incorporation and/or management of many Asia Pacific captives, and worked closely with regulators across the region on captive related matters.
He is currently focused on advising Willis Towers Watson clients on the design and management of captive programmes across a broad range of countries, industries and classes of risk.
George Kesselmen
Co-Founder, Anapi and InsurTech Asia Association
Successful insurance leader turned Insurance-Tech (InsurTech) entrepreneur. In his relentless pursuit of a better-protected world, George founded and leads both Anapi and InsurTech Asia Association. Anapi is a fast-growing InsurTech startup which built a technology toolset which enables frictionless risk transfer across the digital ecosystem. Anapi works with leading insurance partners across Southeast Asia and allows digital businesses to add relevant insurance to their online services quickly. The Association focuses on cultivating InsurTech across Asia while boosting corporate-startup collaboration through regional support programs for InsurTech startups and Insurers.
Dato' Majid bin Mohamad
Chairman, Etiqa Family Takaful and Etiqa General Takaful
Dato' Majid retired from Labuan Reinsurance (L) Ltd. at the end of 2010 and currently Chairman of Etiqa Family Takaful and Etiqa General Takaful.
He has extensive experience in the setting up, regulatory planning and rehabilitation of a wide range of finance and insurance institutions in the industry. Starting out at the Bank Negara Malaysia in 1977, he has held various supervisory roles across key departments, from audit to economics, and bank and insurance regulation.
In the insurance industry, he was CEO of a number of life and general insurance companies in Malaysia including Pacific and Orient Insurance, Malaysia National Insurance Berhad, The People Insurance Berhad, Talasco Insurance Berhad. In 2001, he facilitated the successful merger between Talasco and People's Insurance Berhad.
His current directorship includes Alliance Islamic Bank Berhad, Maybank Ageas Holdings Berhad, UMP Holdings Berhad and Pasdec Holdings Berhad.
Formerly, he was the adviser to Lloyd's of London, adviser to Labuan International Insurance Association (LIIA), independent board member of AIA Public Takaful Berhad, Alliance Investment Bank Berhad, UniAsia Insurance Berhad (now Liberty Insurance) and UniAsia Life Insurance Berhad (now Gibraltar Life Insurance). In academic field, he was a Visiting Professor of Islamic Finance at Universti Sains Islam Malaysia (USIM) and Universiti Sultan Zainal Abidin (UnISZA), Terengganu.
Dato' Majid holds a Bachelor of Arts (Honours) from University of Malaya Kuala Lumpur and a Masters of Business Administration from Manchester Business School, England. He also attended senior management programmes at ICLIF, Malaysia, Harvard Business School, USA and INSEAD, Paris.
In the insurance industry, he was CEO of a number of life and general insurance companies in Malaysia including Pacific and Orient Insurance, Malaysia National Insurance Berhad, The People Insurance Berhad, Talasco Insurance Berhad. In 2001, he facilitated the successful merger between Talasco and People's Insurance Berhad.
His current directorship includes Alliance Islamic Bank Berhad, Maybank Ageas Holdings Berhad, UMP Holdings Berhad and Pasdec Holdings Berhad.
Formerly, he was the adviser to Lloyd's of London, adviser to Labuan International Insurance Association (LIIA), independent board member of AIA Public Takaful Berhad, Alliance Investment Bank Berhad, UniAsia Insurance Berhad (now Liberty Insurance) and UniAsia Life Insurance Berhad (now Gibraltar Life Insurance). In academic field, he was a Visiting Professor of Islamic Finance at Universti Sains Islam Malaysia (USIM) and Universiti Sultan Zainal Abidin (UnISZA), Terengganu.
Dato' Majid holds a Bachelor of Arts (Honours) from University of Malaya Kuala Lumpur and a Masters of Business Administration from Manchester Business School, England. He also attended senior management programmes at ICLIF, Malaysia, Harvard Business School, USA and INSEAD, Paris.
Dato' Mohammed Azlan Hashim
Chairman, Labuan IBFC Inc
Dato' Mohammed Azlan Hashim is Chairman of Labuan IBFC Inc. He is also Chairman of D&O Green Technologies Bhd, Marine & General Berhad and IHH Healthcare Bhd. He serves as a Board Member of Khazanah Nasional Bhd and the Government Retirement Fund Inc Investment Panel.
Dato' Azlan has extensive experience in the corporate sector, including financial services and investment. He has held various senior positions, including CEO of Bumiputra Merchant Bankers Bhd, Group Managing Director of Amanah Capital Malaysia Bhd and Executive Chairman of Bursa Malaysia Bhd Group. Dato' Azlan is a Fellow Member of the Institute of Chartered Accountants, Australia; Member of the Malaysian Institute of Accountants; Fellow Member of Malaysian Institute of Directors and Fellow Member of the Institute of Chartered Secretaries and Administrators. Malaysia.
He holds a Bachelor's degree in Economics from Monash University in Australia, and is qualified as a Chartered Accountant in Australia.
He holds a Bachelor's degree in Economics from Monash University in Australia, and is qualified as a Chartered Accountant in Australia.
Kelvin Wu
Group Risk and Insurance Manager, International SOS
Kelvin is the Group Risk and Insurance Manager for International SOS, where he has responsibility for the Group's risk management initiatives, corporate insurance programs including property, casualty and employee benefits, as well as the firm's captive insurance company.
Prior to this, Kelvin was the Senior Consultant in JLT Asia's risk consulting practice, where he led the development and delivery of risk consulting projects encompassing areas such as Enterprise Risk Management, Business Continuity Management, risk-insurance gap analysis, strategic risk financing and captive insurance.
Kelvin is a founding Board Member of the Pan-Asia Risk and Insurance Management Association (PARIMA), where he directed the organisation of the highly successful inaugural 2014 PARIMA Annual Conference held in Singapore, which attracted over 400 risk and insurance professionals from all across Asia.
Kelvin holds an Economics degree from the Singapore Management University, where he graduated summa cum laude. He is also an Associate of The Chartered Insurance Institute (ACII) in UK, and an Associate in Risk Management (ARM) of The Institutes in US.
Kelvin is a founding Board Member of the Pan-Asia Risk and Insurance Management Association (PARIMA), where he directed the organisation of the highly successful inaugural 2014 PARIMA Annual Conference held in Singapore, which attracted over 400 risk and insurance professionals from all across Asia.
Kelvin holds an Economics degree from the Singapore Management University, where he graduated summa cum laude. He is also an Associate of The Chartered Insurance Institute (ACII) in UK, and an Associate in Risk Management (ARM) of The Institutes in US.
Malcolm Cutts-Watson
Managing Director, Cutts-Watson Consulting Limited
With 4 decades in the alternative risk industry, Malcolm has gained an unique insight into captives and a sophisticated outlook for the future.
He is a member of the Captive Hall of Fame that recognises outstanding contribution to the industry over the past 50 years.
He is a member of Labuan FSA International Advisory Panel. He has advised many Asian corporates and governments on captive strategy and spent time in China fostering the use of captives.
He is a member of Labuan FSA International Advisory Panel. He has advised many Asian corporates and governments on captive strategy and spent time in China fostering the use of captives.
Richard Cutcher
Editor, Captive Review
Richard Cutcher has been the editor of Captive Review since May 2014 and is an experienced speaker on captive insurance topics in North America, United Kingdom, Europe and Asia. Prior to joining Captive Review, Richard was the editor of Global Risk magazine and previously worked in Cape Town, South Africa where he was the editor of an African technology and telecommunications online publication. Richard has a BA Honours degree in History from the University of York and splits his time between Captive Review's London and New York offices.
Danial Mah Abdullah
Director-General, Labuan Financial Services Authority (Labuan FSA)
Mr Danial is the Director-General of Labuan FSA, the regulatory authority of Labuan International Business and Financial Centre. Mr Danial assumed the position of Director-General with effect from 3 October 2017. Prior to this, he was the Deputy Director-General of Labuan FSA, a position he held since 2007. He has worked in Labuan FSA since the early years of its establishment and held various positions in the organisation.
Mr Danial is a Board member of International Islamic Financial Market (IIFM) and member of its Executive Committee. He is chairman of the Financial Stability Committee Labuan FSA and a Board member of the Labuan Corporation, Financial Park Labuan, Labuan IBFC Incorporated Sdn Bhd, LabuanFSA Incorporated Sdn Bhd and Pristine Era Sdn Bhd. He also chairs the council of Labuan IBFC Foundation and member of the Port Consultative Committee for Lembaga Pelabuhan Labuan (LPL).
Mr Danial has a Bachelor of Accounting (Hons) from the University of Malaya, Malaysia; and a Masters in Business Administration from the Manchester Business School, UK. He is a Chartered Accountant registered with the Malaysian Institute of Accountants.
Mr Danial has a Bachelor of Accounting (Hons) from the University of Malaya, Malaysia; and a Masters in Business Administration from the Manchester Business School, UK. He is a Chartered Accountant registered with the Malaysian Institute of Accountants.
Suchitra Narayanan
PARIMA Malaysia
Suchitra joined Air Asia in November 2017, as Group Head of Risk and Insurance.
In this role, Suchitra is responsible for the development and execution of Enterprise Risk Management and Business Continuity across the group, as well as the implementation of a strategic Insurance function. She reports to the CEO as well as the Risk Management Committee, which is a subset of the Board.
Suchitra has over 15 years' experience in risk management.
Prior to joining Air Asia, Suchitra worked for various financial, insurance, investment management and oil and gas organisations in London and Kuala Lumpur.
Suchitra has a B.Sc (Hons) in Economics and Statistics from University College London and is a qualified chartered accountant.
Raziyah Yahya
Board Member of AIG
Raziyah Yahya was formerly an Advisor and Head of Group Insurance of Petroliam Nasional Berhad (PETRONAS). She has been with PETRONAS Group Insurance since May 1978 until her retirement in December 2017. Prior to joining PETRONAS, she was attached with Mayban-Phoenix Insurance Sdn Bhd.
During her tenure with PETRONAS, she was also appointed to the Board of Energas Insurance (L) Limited on 24th March 2005 and as Chief Executive Officer on 4th May 2009. Energas is a captive insurance company and a wholly owned subsidiary of PETRONAS.
Benjamin Tausig
Tax Partner, Financial Services
Deloitte & Touche LLP
Ben is a Financial Services Tax Partner with Deloitte in Singapore and leads Deloitte's insurance tax practice in South East Asia with a wider focus on Asia Pacific. He has worked in Singapore, London and New York providing domestic, cross-border and international tax advice.
Ben has more than 15 years' experience in tax advice, mainly to insurance groups. He has significant experience in advising multinational insurance groups on international tax issues, financing, group reorganisations and transfer pricing. In addition Ben has served as an independent tax expert in litigation matters.
Ben has a wealth of experience advising insurance groups and private equity on mergers and acquisitions (buy side and sell side), providing tax due diligence and structuring advice. He also has experience leading multi-disciplinary teams designing and implementing the legal and operating structure of insurance groups either reorganising their operations or entering into new and emerging markets in Asia Pacific and Latin America.
Ben has a bachelor's degree from Magdalene College, Cambridge and is a fellow of the Institute of Chartered Accountants of England and Wales and a member of the Chartered Institute of Taxation.
Ben has a wealth of experience advising insurance groups and private equity on mergers and acquisitions (buy side and sell side), providing tax due diligence and structuring advice. He also has experience leading multi-disciplinary teams designing and implementing the legal and operating structure of insurance groups either reorganising their operations or entering into new and emerging markets in Asia Pacific and Latin America.
Ben has a bachelor's degree from Magdalene College, Cambridge and is a fellow of the Institute of Chartered Accountants of England and Wales and a member of the Chartered Institute of Taxation.
Sean Welsch
Head of Captive Management & Business Development, Zurich Insurance Company Ltd
Sean Welsch is responsible for all captive structures across Asia-Pacific for Zurich Insurance. He has an Accounting Degree and has worked in the insurance industry since 1996 in various capacities from claims to reinsurance. In his current position draws on his extensive knowledge of insurance regulation and taxation and is experienced in structuring international programs and reinsurance solutions to create innovative solutions for customers that address their needs and help manage risk in a more economical fashion.
Shiwei Jin
Global Program & Captive Regional Director, Asia, XL Catlin
Ms. Jin Shiwei is Global Program & Captive Regional Director, Asia, for Xl Catlin. Ms. Jin is responsible for driving Global Program and Captive business as well as developing strong relationships with XL Catlin's broker partners and clients across Asia. Ms. Jin takes on this expanded role while continuing her position as a key member of the Global Program Centre of Excellence team.
She has over 10 years' experience in the insurance industry and has a proven track record in working with clients to provide bespoke international solutions and excellent service. She joined XL Catlin in 2007 in China as a Regional Research Manager for Asia and was part of the team which established XL Catlin's operations in Shanghai. She then moved to London in 2013 to join the Global Program team, where she held roles of increasing responsibility. Shiwei holds a master degree in International Relations.
Raymond Wong
Chairman, Labuan International Insurance Association
Raymond is currently the Chairman of the Labuan International Insurance Association. The Association represents the interests of the over 200 entities which are licensed by the Labuan Financial Services Authority. He also sits on the Board of Labuan IBFC Inc, the official promotional agency for Labuan International Business and Financial Centre.
He entered the Insurance Industry in Malaysia after completing his university education in Canada in 1978. Working in the American Insurance Company (AFIA) Malaysia for over 4 years he went to UK to read Law. In London he worked in Citicorp Insurance Brokers (Lloyds Broker) for over 2 years. In 1987 he returned to Malaysia to set up the Citicorp Insurance Brokers. 1n 1989 he joined Nanyang Insurance Company (Paramount Assurance) as General Manager and subsequently it's CEO and Board Director. In 1999 he joined Catlin Labuan (Catlin syndicate) as Principal Officer and later Board Director. The merger of XL and Catlin in 2015 saw him appointed as the Country Head for both Catlin and XL legal entities in Malaysia.
He has served as Management Committee member of the General Insurance Association of Malaysia (PIAM), Board member of the Malaysian Insurance Mediation Bureau and Committee member of the National Insurance Association Malaysia (NIAM). He was also a Board Director of the Malaysian National Reinsurance Berhad (MNRB) from 1994 to 1997.
He has served as Management Committee member of the General Insurance Association of Malaysia (PIAM), Board member of the Malaysian Insurance Mediation Bureau and Committee member of the National Insurance Association Malaysia (NIAM). He was also a Board Director of the Malaysian National Reinsurance Berhad (MNRB) from 1994 to 1997.
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