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Conference Schedule

Sunday 27  |  Monday 28  |  Tuesday 29  |  Wednesday 30

Sunday, June 27, 2010

2:00 pm - 6:00 pm

 Registration Desk

6:00 pm - 7:30 pm

 Opening Cocktail Reception at Fairmont Southampton Ocean Club Terrace
Sponsored by The Bermuda Insurance Development Council
 
Monday, June 28, 2010

8:00 am - 9:00 am

 Breakfast with Exhibitors

9:00 am - 9:10 am

Amphitheatre

 Introductory Remarks: by Chairman of the Bermuda Captive Conference - Jill Husbands

9:10 am - 9:30 am

Amphitheatre

 Opening Remarks by The Premier of Bermuda, Dr. the Hon. Ewart F. Brown, JP MP

9:30 am - 10:30 am

Amphitheatre

 Round Table Session: State of Business in Current Market and New Trends
     

Moderator:

     

Panelist(s):

10:30 am - 11:00 am

 Coffee Break in Exhibition Hall
Sponsored by AFL Investments

11:00 am - 12:00 pm

Poinciana Room

 Solvency II & Captives
Solvency II is the most significant change in insurance and reinsurance legislation in the EU in the past 25 years. The EU Directive has wide ranging implications for both the general market and captives in the EU. Through the creation of an ‘equivalent country’ regime, the Directive further impacts all territories such as Bermuda, the US, Switzerland, Guernsey and the Isle of Man that do business with EU insurers and reinsurers. This lively panel debate will outline what the changes are, how Bermuda is adapting its regulatory environment and changes we can generally expect to see in the market place.
     

Moderator:

  • Scott Gemmell, Senior Vice President, Marsh Management Services (Bermuda) Ltd
     

Panelist(s):

12:00 pm - 2:00 pm

Amphitheatre

 Oxygen Not Included
A Key Note address from Alison Levine, the ground breaking polar adventurer and Team Captain of the First American Women's Everest Expedition (Team No Boundaries). Every climb requires a unique approach, whether it’s up the face of Everest, the corporate ladder, or into a position of market leadership. Alison Levine draws upon two decades of business experience in order to deliver a customized, focused, and relevant message to her audiences. Her presentations offer a unique perspective on the topics of leadership, teamwork, innovation, pushing your personal limits, and dealing with a changing environment. Her breathtaking visuals will take you on a journey up Mt. Everest, across the polar regions and over to war-torn Uganda---places where determination is every bit as important as skill when it comes to survival---and willpower is the most essential piece of equipment. Speaker & Luncheon Sponsored by Wells Fargo
     

Speaker(s):

  • Alison Levine, Team Captain of the First American Women’s Everest Expedition (“Team No Boundaries”) and Groundbreaking Polar Adventurer

2:00 pm - 3:30 pm

Concurrent Session

Gardenia Room

 Captive 101 – From a Regulatory, Legal and Captive Owners Perspective
The panel will discuss the major considerations for the set-up of captives in Bermuda from a regulatory, legal, actuarial and taxation perspective.
     

Moderator:

  • Beverley Todd, Executive Vice President, JLT Insurance Management (Bermuda) Ltd
     

Panelist(s):

2:00 pm - 3:30 pm

Concurrent Session

Poinciana Room

 Employee Benefits
The panel will discuss the increasing use of captives in Employee Benefit programs, both ERISA and international benefits.
     

Moderator:

  • Philip Barnes, Managing Director, Aon Insurance Managers (Bermuda) Ltd.
     

Panelist(s):

3:30 pm - 3:45 pm

 Coffee Break in Exhibition Hall
Sponsored by AFL Investments

3:45 pm - 5:00 pm

Poinciana Room

 IFRS Update – A discussion on the recent changes to IFRS and the road to convergence with US GAAP
The panel will discuss the recent changes to IFRS that will effect captives in 2010 and in the future with particular focus on the developments in accounting for insurance contracts, investments and liabilities. The panel will also discuss the impact of the transition of Canadian GAAP to IFRS and the convergence of US GAAP and IFRS.
     

Moderator:

     

Panelist(s):

5:00 pm - 6:30 pm

Exhibition Area

 Cocktail Party with Exhibitors sponsored by Marsh, KPMG and Butterfield Bank
 
Tuesday, June 29, 2010

8:15 am - 9:00 am

Gardenia Room

 Bermuda Captive Owners Association (BCOA) Annual General Meeting
Members & Prospective Members are welcome to attend.

8:00 am - 9:00 am

 Breakfast with Exhibitors

9:00 am - 10:00 am

Concurrent Session

Poinciana Room

 Stress Test Your Portfolio
While it would be wonderful to have a crystal ball for investments, the next best thing is to have your investment manager stress test your portfolio on a regular and consistent basis so that there are no huge surprises in store, unless, of course, the surprises are beneficial and positive! Discover how managers can test and tune investment portfolios to protect them for the future.
     

Chair:

  • Kate Robinson, Senior Vice President, Aon Insurance Managers (Bermuda) Ltd.
     

Moderator:

     

Panelist(s):

  • Jeff Johnson, Senior Investment Manager, Vanguard
  • David Burns, CEO, Schroders Bermuda
  • Kevin Gardiner, Head of Global Investment Strategy, Barclays Wealth
  • Joe LoPorto, Vice President & Relationship Manager, Brown Brothers Harriman´s Insurance Asset Management

9:00 am - 10:00 am

Concurrent Session

Gardenia Room

 The Varied Uses of Segregated Accounts Companies &/or Captives
How do you make a captive drive value and create a competitive advantage for your organization? This session is a must attend for those seeking to explore the many ways alternative market facilities can be used. The session will be structured to review differences between owned captive facilities and segregated account arrangements, the primary drivers for entering into an alternative market arrangement and some innovative and value adding concepts for use of these arrangements. Also explored, will be underlying tax framework around alternative market arrangements and some of the pit falls to avoid within these innovative structures.
     

Moderator:

     

Panelist(s):

10:00 am - 10:30 am

 Coffee Break in Exhibition Hall
Sponsored by AFL Investments

10:30 am - 11:45 am

Concurrent Session

Gardenia Room

 Collateral – Why and how do you provide it, how is the level determined? How can you get it released and what impact does the form of collateral provided have on investment management?
This will session will review the reasons why captives have to provide collateral to fronting carriers, the form of the collateral provided and the basis for the determination of the amount to be provided. The session will also discuss when and how captives can get collateral released. The session will also discuss the impact on the investment management function whether the collateral is in the form of a 114 Trust or an LOC.
     

Moderator:

     

Panelist(s):

10.30 am - 11.45 am

Concurrent Session

Poinciana Room

 Foresight vs Hindsight - Moving Towards a Proactive Model
This session will consider and discuss the changes that need to take place in order to move a ‘traditional’ claims focused program into a proactive, responsive program. Utilizing real examples, the speakers will explain how it takes both technical logistics as well as cultural changes in order to truly transform a program into one that values compassion balanced by fiscal realities.
     

Moderator:

     

Panelist(s):

2:00 pm Tee-Off Time

 Golf Tournament at Port Royal Golf Course - Home of The PGA Grand Slam
Transport to pick up golfers from hotel lobby at 12.30 pm. Sponsored by Performa
 
Wednesday, June 30, 2010

8:00 am - 9:00 am

 Breakfast with Exhibitors

9:00 am - 10:00 am

Poinciana Room

 Risk and Corporate Governance - What You and Your Board Need to Know
Managing risk on an enterprise-wide basis has never been more important to your organization’s leadership team and board of directors. This session will provide you with an overview, of the current risk environment, updates on S&P’s rating of ERM programs and the SEC mandated risk disclosures, and highlights of how to utilize ERM to improve corporate governance and drive value.
     

Moderator:

  • Laura Taylor, Managing Director – ERM Global Practice Leader, Aon Global Risk Consulting
     

Panelist(s):

  • William Montanez, Director, Risk Management, Ace Hardware
  • Keith Ryan, Vice President, Director of Finance Shared Services, Lincoln Financial Group

10:00 am - 10:15 am

 Coffee Break in Exhibition Hall
Sponsored by AFL Investments

10:15 am - 11:15 am

Concurrent Session

Poinciana Room

 Explore New Class of Insurer: Special Purpose Insurers - "What's so Special"
Our experts will explain what is a special purpose insurer and how it applies to a captive program.
     

Moderator:

     

Panelist(s):

  • Andre Perez, CEO, Horseshoe Group
  • Gina Smith, Assistant Director, Actuarial Services, Bermuda Monetary Authority

10:15 am - 11:15 am

Concurrent Session

Gardenia Room

 Banking – Services, Options and Opportunities
Think you know everything your bank has to offer? In these times, banks are striving to regain their positions in the market…...…or to better them! More services, including “bundled” opportunities, abound especially in this almost non-existent interest rate environment for cash.
     

Moderator:

  • Kate Robinson, Senior Vice President, Aon Insurance Managers (Bermuda) Ltd.
     

Panelist(s):

  • Andrew M. Baron CFA, Senior Portfolio Manager, Fixed Income, Butterfield Asset Management Limited
  • Renee Lewis, Vice President, Senior Global Captive Manager, HSBC Bermuda
  • Rick Manuel, Vice President, Corporate Banking, Butterfield
  • Faith Outerbridge-Neijmeijer CFA, Chief Investment Officer Liquidity Americas, HSBC Global Asset Management (Bermuda) Ltd
  • Sean Smatt, Vice President, Structured Finance & Letters of Credit, Corporate Banking, Butterfield

11:15 am - 12:30 pm

Concurrent Session

Poinciana Room

 Loss Prevention as a Cost Control Exercise
Without good loss control a captive is destined to struggle. The panel will discuss some practical ways of driving down loss costs. CFOs are looking to reduce costs. Loss prevention and claims control are both areas where extra expenditure can reap major savings.
     

Moderator:

     

Panelist(s):

11:15 am - 12:30 pm

Concurrent Session

Gardenia Room

 Taking Control with a Captive
This session is aimed at risk managers who wish to understand how they can use their captives to reach their maximum potential and provide tangible, financial and strategic benefits to their risk management framework and risk financing strategy. Today's economic climate forces all organizations to thoroughly examine the value of every dollar spent, insurance premiums are no exception. The speakers will outline how captives can be used to:

  • Gain real control over the insurance spend;
  • Optimize the risk financing program;
  • Create flexibility and provide cover for “uninsurable” risks;
  • Reduce reliance on commercial insurers and avoid market fluctuations;
  • Minimize third party insurance spend;
  • Capture profits that would otherwise be earned by insurers.

    •      

    Moderator:

    • Roger Gillett, Member of the Bermuda Insurance Advisory Committee
         

    Panelist(s):

    • Scott Gemmell, Senior Vice President, Marsh Management Services (Bermuda) Ltd
    • Jon Schmieden, Director, Global Insurance & Risk Management, Alcon, Inc.

12:30 pm - 1:30 pm

 Lunch with Exhibitors

1:30pm - 2:00pm

Poinciana Room

 Global Investments: How We Got To Where We Are and Where We Are Going.
Introduction - Kathleen Bibbings, EVP Aon Insurance Managers (Bermuda) Ltd.
     

Speaker(s):

2:00 pm - 2:30 pm

Poinciana Room

 Captive Market Survey 2010- Trends and Insights for Savvy Market Professionals
This presentation will provide the latest results of the annual Captive Market Survey. Conducted by the Bermuda Monetary Authority, in conjunction with the Bermuda Insurance Management Association, the Survey provides the most comprehensive market data on the captive sector worldwide, with a specific focus on the Bermuda market.
     

Speaker(s):

  • Traver Alexander, Research Officer, Policy, Research and Risk Assessment Department, Bermuda Monetary Authority

2:30 pm - 4:45 pm

Poinciana Room

 Captive Insurance Tax and Business Developments
The panel will discuss:

  • Cash Savings (Holistic Approach)
  • Uncertain Tax Positions (New IRS Schedule)
  • Obama and other Legislation
  • Form 5471 Filings (New penalties for late filings)
  • Excise Tax Update

    •      

    Moderator:

    • Bill Bailey, Senior Manager and Tax Lead, Ernst & Young Ltd
         

    Panelist(s):

6:30 pm

 Gala Dinner at The Commissioner’s House sponsored by Barclays Wealth
Say Good bye to new and old friends in this fun filled evening with cocktails and dinner. Dancing to the contemporary sounds of Bermuda's own "Working Title" five piece band. Cocktails will be held at the Commissioner's House along with a Bermuda Gombey display. A buffet dinner will be held in The Keeps Yard. Transport To The Museum: Pink Buses from Fairmont Southampton Resort will leave at 6:15pm, 6:45pm, & 7:00pm. Transport From The Museum: Pink Buses returning to the Fairmont Southampton Resort will leave at 9:00pm, 10:00pm, & 11:00pm.