THE Asian Captive Conference 2017
DE-RISKING ASIA:
THE GROWING ROLE OF
SELF-INSURANCE
THE GROWING ROLE OF
SELF-INSURANCE
16 - 17 AUGUST 2017
The Asian Captive Conference 2017 has now concluded. To those who attended, thank you for your support!
The Conference was attended by close to 300 local and regional delegates, who listened as well as participated in 7 presentations and/or panel discussions and one key note address by the Chairman of Labuan Financial Services Authority, who is also the Governor, of the Central Bank of Malaysia. The discussion surrounding the conference centered on risk management issues, the prevalence of self-insurance, the tax issues surrounding captive insurance as well as a case study on an actual captive.
There was the unveiling of a research piece by Richard Cutcher, Editor of Captive Review on the "Attitudes towards Captive Insurance in Asia", for a copy of this report please click here.
AGENDA
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8:15 AMRegistration and Morning Coffee9:15 AMWelcome RemarksY Bhg Dato' Mohammed Azlan HashimChairman, Labuan IBFC Inc.9:25 AMKeynote AddressY Bhg Datuk Muhammad bin IbrahimGovernor, Bank Negara MalaysiaChairman, Labuan Financial Services Authority9:45 AMPresentation of Research Findings"Attitudes towards Captive Insurance in Asia"By Richard Cutcher,Editor, Captive ReviewPanel DiscussionAttitudes towards Captive Insurance in AsiaLed by Richard Cutcher,Editor, Captive ReviewPanelists:
- Y.M. Tunku Farik Bin Tunku Ismail, Senior Partner, Azim, Tunku Farik & Wong; Jurisdictional Council Member for Malaysia, Inter-Pacific Bar Association
- Ludan Wang, Assistant General Manager, Willis Towers Watson China
- Sean Welsch, Head of Captive Management & Business Development APAC, Zurich Insurance Company Ltd
10:45 AMNetworking Break11:30 AMPanel DiscussionThe Many Faces of Self Insurance: Captives, PCCs, ICCs, Group CaptivesLed by Dato' Majid Mohamad, Technical Advisor,Labuan International Insurance Association (LIIA)Panelists:- Anthony Egerton, Principal Officer, Huntington Underwriting Limited
- Datuk Ir. Lim Tong Kang, Chairman, Malaysian Association of Risk and Insurance Manager (MARIM)
- George McGhie, Managing Director, Captive Practice, Willis Towers Watson
12:30 PMNetworking Lunch2:00 PMPARIMA for Asian Risk Managers2:15 PMPanel DiscussionInsure Tech:Block Chains, a new Friend or a Dangerous Foe?Led by Steve Tunstall,General Secretary of PARIMAPanelists:- Robin Lee, Chief Experience Officer, Inzsure
- Ruben Tan, Chief Technology Officer, Neuroware.io
3:15 PMPanel DiscussionBase Erosion Profit Shifting:Changing Mindsets and Managing ChangeLed by Michael Velten,Asia-Pacific Financial Services & Insurance Tax Leader, DeloittePanelists:- Goh Ka Im, Partner, Revenue and Tax Practice Group, Shearn Delamore
- Naoyoshi Araki, Representative Director, Japan Risk Specialist Ltd
- Kelvin Wu, Group Risk and Insurance Manager, International SOS
4:15 PMClosing RemarksRaymond WongChairman, Labuan International Insurance Association (LIIA)4:30 PMEnds with Networking Refreshments - Y.M. Tunku Farik Bin Tunku Ismail, Senior Partner, Azim, Tunku Farik & Wong; Jurisdictional Council Member for Malaysia, Inter-Pacific Bar Association
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8:15 AMMorning Coffee9:00 AMWelcome RemarksY Bhg Datuk Ahmad Hizzad BaharuddinDirector-General,
Labuan Financial Services Authority9:10 AMIns and Outs of a Captive Feasibility StudyGeorge McGhie,Managing Director, Captive Practice, Willis Towers Watson9:55 AMA Captive Case StudyKelvin Wu,Group Risk & Insurance Manager, International SOS10:40 AMNetworking Break11:15 AMPanel DiscussionA Year in the Life of a CaptiveLed by Ng Hwee Hong, Senior Vice President, Insurance, Marsh Captive Solutions, SingaporePanelists:- Raziyah Yahya, Chief Executive Officer, Energas Insurance (L) Limited (Invited)
- Suchitra Narayanan, Head of Risk and Insurance, Bumi Armada
- Manjit Singh, Insurance Leader, PWC Malaysia
12:15 PMClosing RemarksDanial Mah AbdullahChief Executive Officer, Labuan IBFC Inc12:30 PMEnds
MEET OUR SPEAKERS
Datuk Muhammad Ibrahim
Bank Negara Malaysia
George McGhie
Willis Towers Watson Global Captive Practice
Kelvin Wu
PARIMA
Dato' Majid Bin Mohamad
Labuan International Insurance Association
Michael Velten
Deloitte Singapore
Richard Cutcher
Captive Review
Steve Tunstall
PARIMA
Datuk Muhammad Ibrahim
Bank Negara Malaysia
Datuk Muhammad Ibrahim was appointed Governor Bank Negara Malaysia on 1 May 2016. He chairs Bank Negara Malaysia's Monetary Policy and Financial Stability Committees.
Prior to his appointment as Governor, Datuk Muhammad Ibrahim was the Deputy Governor responsible for the development of the financial markets as well as Treasury operations including exchange and reserve management of the Central Bank. He also oversees the development of the banking sector including Islamic finance and insurance sector.
Datuk Muhammad Ibrahim is responsible for promoting Malaysia's agenda of migration to e-Payments aimed to generate cost and operational efficiency for businesses. He is also actively involved in collaborative efforts with the regional central banks to develop a multi-currency payment settlement platform aimed to enhance linkages in cross border transactions in trade and investment.
He also serves as Chairman of the Finance Accreditation Agency; Board member of the Retirement Fund Incorporated; member of the Malaysian Institute of Accountants; panel member of the National Trust Fund. He is also the Senate Chair of the International Centre for Education in Islamic Finance; was the Chairman of the Irving Fisher Committee on Central Bank Statistics, Bank for International Settlements; and a Fellow of the Asian Institute of Chartered Banker.
He holds a bachelor's degree in accounting from the University of Malaya and Master's Degree from Harvard University and International Islamic University.
George McGhie
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.
Kelvin Wu
PARIMA
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 organization 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.
Dato' Majid Bin Mohamad
Labuan International Insurance Association
Dato' Majid holds a Bachelor of Arts (Honours) degree from University of Malaya and a Master of Business Administration degree from Manchester Business School, England. He also attended senior management programmes at Harvard Business School, United States and INSEAD, France.
Dato' Majid has extensive experience in the setting up, regulatory planning and rehabilitation of finance and insurance institutions. He started his banking career in Bank Negara Malaysia in 1977 and held various supervisory roles across key departments, from audit to economics, and bank and insurance regulation. He was Chief Executive Officer (CEO) of several life and general insurance companies in Malaysia including Pacific and Orient Insurance Berhad, Malaysia National Insurance Berhad, The People's Insurance Co. (Malaysia) Berhad and Talasco Insurance Berhad. In 2001, he facilitated the successful merger of Talasco Insurance Berhad and The People's Insurance Co. (Malaysia) Berhad. He retired as CEO and president of Labuan Reinsurance (L) Ltd at the end of 2010.
Dato' Majid is currently the Managing Advisor of MBM Advisors (L) Ltd, a consultancy outfit based in Labuan International Business and Financial Centre, and Technical Advisor to the Labuan International Insurance association and The Lloyd's of London. He also serves in the Investment Committee of Universiti Malaysia Pahang.
Dato' Majid's directorships in other companies are in Alliance Investment Bank, Alliance Islamic Bank Berhad (AIS), AIA Public Takaful Berhad and Pasdec Resources (South Africa) Ltd.
Michael Velten
Deloitte Singapore
Michael is a financial services tax partner with Deloitte Singapore and is the firm's Asia - Pacific Financial Services Tax Leader.
Michael has over 30 years tax experience; 25 years of which have been spent working in Asia having been based in Kuala Lumpur, Hong Kong and Singapore. Prior to joining Deloitte, Michael had held senior tax roles with leading financial institutions and professional firms in Asia - Pacific and academic appointments at the University of Melbourne and National University of Singapore.
Michael advises on all areas of Singapore financial services tax (including indirect tax, information reporting, M&A tax and transfer pricing); and is a recognized industry tax expert. Michael works across all sectors including banking and securities, insurance and investment management.
Michael acts as global lead and / or regional lead tax partner on a number of major firm accounts and manages the delivery of Asia regional tax services for key global clients.
Michael is qualified as both a Solicitor (Supreme Court of Victoria and High Court of Australia) and a CPA (Australia). Michael is an Accredited Tax Advisor: Income tax and GST (Singapore), a Certified Tax Adviser (Hong Kong) and a Trust and Estate Practitioner (TEP). Michael is a Fellow of the Taxation Institute of Hong Kong, an Associate of the Chartered Tax Institute of Malaysia and a member of the Singapore Institute of Directors.
Michael holds a Master of Taxation from the University of Melbourne and a Master of Laws from the National University of Singapore.
Michael is a member of the ASIFMA Tax Product Committee and a member of the AIMA Tax Committee in Singapore.
Richard Cutcher
Captive Review
Richard Cutcher has been editor of Captive Review since May 2014 and is an experienced speaker on captive insurance topics in North America, the United Kingdom, Europe and Asia. Prior to joining Captive Review, Richard was Editor of Global Risk magazine and previously worked in Cape Town, South Africa where he was 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.
Steve Tunstall
PARIMA
Steve Tunstall is a business risk management expert with almost thirty years experience in both running companies and helping them change. He has been the Head of Risk and Insurance for Genting Singapore and Cathay Pacific Airways and held the post of Managing Director or equivalent in five companies in four countries. With experience in twenty countries in Asia as well as the EU, Africa and USA Steve brings a broad based, practical approach to the management of both risk and opportunities. He currently works as a part time risk manager based in Singapore and is the General Secretary of the Pan-Asia Risk and Insurance Management Association.
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