As more and more cat bonds are issued, the process is becoming quicker and more efficient. Understand what lessons can be learned as cat bonds pave the way for the ILS market

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• Understand the structural aspects of cat bonds and get up to speed with the latest structures with a detailed look at shelf offerings vs single issuances
• Discover the motivations behind cat bond issuance and find out the best ways to minimise basis risk
• Learn about the implications of the European Reinsurance Directive and of Solvency II for the securitisation sector

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Luca Albertini, Managing Director, Head of ABS/ILS Origination and Structuring, Swiss Re Capital Markets

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Insurance-linked securities have made the convergence of the capital markets and the insurance industry a reality

• Take part in a detailed analysis of how the reinsurance industry and capital markets have converged and how your company can benefit
• Understand how activity in the capital markets affects the reinsurance industry so that you know how to plan ahead
• Discuss potential sidecar risks, opportunities presented by ILW’s and how interest in the cat bond market is growing

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Steve McElhiney, CEO & President, EWI Risk Services

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• An-depth analysis of cat bond rating activity in 2007 with a focus on new perils, final quarter ratings and US hurricane season outcomes
• Detailed insight into Standard and Poor’s approach to rating cat bonds with emphasis on new and prospective perils
• Learn about Standard and Poor’s involvement in the two AXA motor securitisations and discover how you can benefit from ILS as a capital management tool
• Discuss the prospects of ILS in 2008 and learn how you can benefit from sustained growth and diversification in the market

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Cameron Heath, FIA, Associate Director, Standard and Poor’s

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Improve the management of your cat bond transaction
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Critical reasons for not issuing cat bonds are the significant internal resources required and the high issuance cost – hear best practice examples on how you can complete the most efficient transactions

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• L earn how to identify the right person to mobilise the necessary resources and minimise wasted time and effort
• Understand how to achieve a balance between transaction flexibility and execution efficiency in your cat bond programme
• Ensure that you avoid common transaction pitfalls such as internal accounting responsibilities and tax so you don’t incur unnecessary costs

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Michael J. Pinsel, Partner and Co-Head of P&C Alternative Risk Transfer, Sidley Austin
Michael Madigan, Counsel and Co-Head of P&C Alternative Risk Transfer, Sidley Austin
Paul Gildersleeves, Deputy Finance Director, Brit Insurance Holdings Plc.

Henry Kus, ABN Amro

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Basis risk is one of the sponsor's main concerns with cat bonds and minimising it will encourage rapid market growth. Discover how to get ahead by minimising your basis risk now!

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• Discover how to best manage several layers of basis risk to ensure that you build the most efficient parametric bonds
• Understand quantitative and qualitative variables so that you know exactly how to reveal the hidden drivers of basis risk
• Hear how hybrid bonds combine indemnity and parametric triggers to help minimise basis risk

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Laurent Dignat, Managing Director, Head of Capital Markets, Guy Carpenter and Company

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• Walk away with a detailed understanding of the risks associated with this emerging market
• Understand the drivers and motivations of investing in longevity
• Discover the advantages of structured products
• Take part in a look to the future of longevity based products

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-Micahael Crane , Managing Director, GCT - Longevity Derivatives , Deutsche Bank

Take advantage of the growth of the life settlements market
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Interest in the life settlement market is increasing as insurance companies look to reduce their risk exposures, manage capital more effectively and release funds for investment
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• Discover why the life settlement market has become increasingly fashionable to investors who want to capitalise on what they deem to be a mis-priced niche in the life insurance market
• Understand how the Institutional Life Markets Association will play a crucial role in the future of the life settlements market
• Take part in a detailed forecast of how the life settlements market is expected to experience massive growth over the next 2 – 5 years

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Jack Kelly, Partner, McPherson Group
Ola Eriksson , Director, Mizuho
Amitabh Mehta, Senior Structurer, Portfolio Solutions, Financial Markets, HSH Nordbank
Albert Pinzon, Partner, Stroock & Stroock & Lavan LLP

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• Understand how a value in force securitisation is totally different to a normal cat bond structure
• Take away detailed knowledge of how regulatory and accounting effects the structure of your securitisation
• Hear a detailed analysis about how to encourage more investment

Natalie Fellner, Senior Business Analyst, Munich Reinsurance Company Risk Trading Unit

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• Take part in a detailed overview of the key drivers in the ILS market behind extreme mortality bond issuance
• Hear an in-depth analysis of the structure and innovation of extreme mortality bonds
• A look ahead: the prospects of the extreme mortality bond market in 2008

Neil Weidner, Partner, Cadwalader, Wickersham & Taft LLP

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• Discuss whether higher ratings can be justified through the bundling of diversified risks so that you know how to achieve better ratings for your CDO’s
• Learn how to achieve the highest ratings in an informed discussion about whether this can be achieved through the bundling of diversified risks
• Get up to speed in an informal discussion about the latest and most relevant modelling issues for CDO’s and ILS
• Take part in a detailed examination of managed vs static CDO structures – understand whether having a portfolio manager adds value to investors

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Rodrigo Araya, Senior Vice President, Moody’s Investor Services

5:15 - 5:45 Discover what’s in store for the future of European ILS

The growth in the cat bond market has been underpinned by a number of innovative technical features and broadening of the underlying perils
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• Hear what the key requirements are from an issuers perspective on a prospective basis
• Learn what key design structures will feature in future ILS and cat bond transactions
• Understand how growth in the asset class will encourage non-peak perils such as aviation and worker’s compensation to be securitised
• Walk away with a thorough understanding of how to overcome the challenges of bringing these new perils onto the market

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Michael Eakins, Executive Director, Insurance Financing Group, Goldman Sachs

Informal yet structured discussion with your industry peers on teh topics that are pertinent and relevant to you:

• Minimising basis risk
• Improving cat bond transaction management
• "Open Source" platforms
• Solvency II
• Understanding investor needs

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Day Two - Registration Opens: 8:30am

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9:25 - 9:30 Chairman's opening

Luca Albertini, MD, Head of ABS/ILS Origination & Structuring, Swiss Re Capital Markets

Catastrophe bonds and other insurance-linked securities are becoming and increasingly common compliment of many company's investment portfolios

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• Discover how you can best prepare for a variety of perils, regions and trigger types with an analysis of individual catastrophe bonds
• Take away critical success factors of how companies assess risks and manage a portfolio of insurance-linked securities
• Determine the marginal impact of several leading portfolios so that you can evaluate the best investment opportunities

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Milan Simic, Ph.D, Managing Director, AIR Worldwide Ltd

The rapid growth experienced by cat bonds has increased the number of investors attracted to the ILS market; this has created an opportunity for new risks to be securitised

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• Hear why investors are crying out for new risks such as satellite and man-made poverty to be securitised
• Learn about the latest risks that have been modelled and about the latest transactions
• Understand how you can overcome the challenges of modelling new risks and successfully bring them onto the market

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Dennis Kuzak, Senior Vice President, EQECAT Inc.

The alternative risk transfer market is growing within the context of increasing uncertainty around weather-related extreme events.

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• Appreciate the current nature of weather-related uncertainty, how this is addressed in existing models and the potential impact of climate change
• Discuss whether the risk transfer market is over-reliant upon catastrophe models
• Hear how an open source environment with multiple models and components would provide different views of a specific catastrophe and allow for a more confident understanding of the event
• Understand how open source risk modelling would create the framework that insurers need in order to support decision making in the face of layers of uncertainty

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V inay Mistry, Exposure Management, Lloyds of London

Advancing the art of risk modelling

Risk modelling companies are constantly striving to further advance the art of risk modelling in a rapidly developing market. Make the most of this rare opportunity to get your burning questions answered

• Lessons learned - hear how changes in models have taken place following the occurence of cat events such as Katrina in 2004
• Investor needs - find out what kind of risk disclosure the investor needs and how the modelling companies are addressing uncertainty in loss numbers
• Bundling of risks - learn how modellers address the bundling of risks with a focus on multi-peril vs single-peril, CDO type structures and correlation issues

Peter Nakada, Managing Director, RMS Consulting

Dennis Kuzak, Senior Vice President, Eqecat

Milan Simic, Ph.D, Managing Director, AIR Worldwide Ltd

Solvency II is the most far-reaching change to the framework governing insurance companies in the European Union for over 20 years. Learn why it is crucial for you to prepare well in advance

• Understand the evolution of Solvency II and when it will have an impact on the entire insurance industry
• Discover how you will benefit from this landmark legislation by reducing your regulatory capital repayments
• Discover how Solvency II will drive the growth of ILS and how you will benefit from a wide range of new risks being securitised

Speaker tbc

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Solvency II is expected to be fully implemented in 2012 following an 18 month adjustment period. When this happens many more risks will be securitised onto the capital markets
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• Discover how gaining experience in ILS now will allow you to take full advantage of the coming boom in the market
• Hear how ILS can avoid major hits to your bottom line and even bankruptcy by transferring the risk from your balance sheets and onto the capital markets
• Learn how securitisation can improve risk management by freeing up a significant amount of risk capital

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Albert Pinzon, Partner, Stroock & Stroock & Lavan LLP

Hear how Allianz Global Corporate and Speciality successfully closed an innovative cat bond to transfer the risk of severe floods in Great Britain

• Understand how Allianz Re created a flexible tool which enables them to manage and optimise their exposure to catastrophic risk and learn how to apply their practices to your own cat bonds
• Hear how Allianz Re worked with Halcrow Group to develop an ad hoc infrastructure and provide the information required to provide the information required to determine whether or not investors lose part of their investment
• Learn how a robust index provides a transparent and objective mechanism that enables basis risk to be minimised without limiting the portfolio

Marc Hannebert, Chief Risk Office / Strategy and Organisation, Allianz Re

Increasing your investor base

Buyers of ILS are mostly sophisticated investors like hedge funds, pension funds and investment banks which see them as an opportunity to geographically diversify their portfolio

• Discover the evolution of the ILS investor base, why they choose this asset class and how you can best attract them
• Hear first-hand investor views on key structuring and risk elements so that you know exactly how they analyse each transaction
• Learn what investors are looking for from issuers, modelling and rating agencies and how you can best provide an attractive deal

Jean-Louis Monnier, Director, ABS / ILS, Swiss Re Capital Markets

Bert Stahlmann, Head of Insurance Capital Markets, Commerzbank

Karsten Bromann, Managing Partner, Solidum Partners

Dr. Andreas Muller, Head of Origination / Distribution / ILS-Investments, Munich Reinsurance Company Risk Trading Unit

Extra tropical cyclone (ETC) risk in Northern Europe is one of the most complex climatic phenomena in the world to model and studies indicate that the frequency and intensity of European windstorms will increase

• Benefit from a thorough understanding of how to use the mechanics of the index
• Understand the advantages and limitations of the index and make sure you know how to fully integrate it into your portfolio of risk management
• Discover how you can use the new index to minimise basis risk

Peter Nakada, Managing Director, RMS Consulting

End of Summit