2011 Conference


CIFF 2011 Photo Gallery

Browse the CIFF 2011 agenda here or click here to download the registration package (PDF)

THURSDAY, May 26, 2011 - Metro Toronto Convention Centre, North Building

8:00-9:00am Registration and Continental Breakfast
sponsored by Ernst & Young

Welcome and Introduction 9:00-9:10am

Graham Segger, CIFF 2011 Master of Ceremonies

Review of Industry Results and Outlook 9:10-9:30am

Joel Baker, President and CEO, MSA Research Inc.

2010 was a challenging year for Canadian insurers with weak results in personal lines as well as ongoing softening in the commercial and reinsurance arenas. There are some movements in the right direction but significant challenges remain. From his vantage point at MSA, Joel will share his outlook for the various industry sectors in 2011 and into 2012.

Perspectives on Financial Management 9:30-10:30am

Moderator: Alodie Brew, Partner, PricewaterhouseCoopers

Panelists:

Sharon Ludlow, CEO, Swiss Re Canada
Dick Freeborough, Retired Partner, KPMG & Experienced Board Director
Bruce West, EVP & CFO, Co-operators Group

In this session, we will touch on multiple elements of financial management and will do so by bringing the perspectives of different stake holders - the CFOs, the CEOs and the Audit Committees. Our distinguished panel will explore the multifaceted role of the CFO, and how this role interacts with that of both the CEO and the Audit Committees.

Networking Break 10:30-11:00am
Sponsored by Deutsche Insurance Asset Management

MORNING CONCURRENT SESSIONS 11:00-12:15pm

Getting the Deal Done! Managing M&A's

Moderator: Neil Parkinson, Partner, KPMG

Panelists:

Brian Rose, Senior Partner, Stikeman Elliott LLP
Don Fox, Managing Director, FIG, CIBC World Markets
Bernard Dorval, Deputy Chair, TD Canada Trust

The M&A wheels are turning again. Recent action includes the sale of CUMIS to Co-operators, the acquisition of Jevco by Westaim, the purchase of GCAN from OTPP by RSA and the momentous demutualization process underway at the Economical Insurance Group. Are the conditions right for consolidation? Are valuations becoming palatable? What do buyers and sellers need to know? These experienced presenters will grapple with the challenge of getting the deal done!

Actuarial Panel: A New Era for Risk Margins

Moderator: Liam McFarlane, Partner, Ernst & Young LLP

Panelists:

Jessica Leong, Lead Casualty Specialty Actuary, Guy Carpenter & Co LLC
Jacqueline Friedland, Canadian Actuarial Practice Leader, KPMG LLP

The need for more sophisticated techniques to determine risk margins emanates from changes in international financial reporting standards, advances in actuarial projection methodologies, and increasing interest by management in the variability around estimates of policy liabilities. In the IASB Exposure Draft “Insurance Contracts” (released July 2010), risk margins were required to be determined using a confidence level, conditional tail, or cost of capital approach. While most organizations expressed dissatisfaction with mandated approaches for a standard that is intended to be principles-based, it is clear that Canadian actuaries will need to further develop their skill set with respect to the determination of risk margins.

In this session, we will discuss the techniques set out by the IASB and provide practical illustrations for P&C companies. We will also discuss the results of a survey of Canadian P&C actuaries which posed questions relating to preferred approach, adequacy of current resources to respond to new requirements for risk margins, and guidance needed from the actuarial professional organizations.

END OF MORNING CONCURRENT SESSIONS

Lunch 12:15 - 2:00pm
sponsored by PricewaterhouseCoopers

Keynote Luncheon Speaker: Chris Mathers - Crime, Terrorism and Money Laundering Expert

We are extremely excited about our 2011 keynote luncheon speaker Chris Mathers. Here's how leaders in the policing and security communities describe him:

“One of the finest money laundering, terrorist financing and forensic investigators working today.”
--James R. Richards, Director, Global Anti-Money Laundering, Bank of America

“Dead smart and tough. He's one of the most dangerous men I know. Thank God he's on the side of the good guys.”
--Reid Morden, Director, Canadian Security Intelligence Service (1991-1994)

“A human chameleon”
--Norman Inkster, RCMP Commissioner, (1987-94), President of Interpol (1991-1994)

Mathers is a global expert on organized money laundering and other crimes that adversely impact the global financial system of which nonlife insurance is an integral component.

Investment Portfolio Optimization in the Current Environment 2:00-3:30pm

Moderator: Neil Harrison, Partner, Deloitte and Touche

Panelists:

Randy Brown, Managing Director, Global Insurance Asset Management, Deutsche Bank
Bill Poutsiaka, Chief Investment Officer, Chartis Global

Insurers are facing a complex and troubling confluence of factors. Commercial pricing is soft, personal lines are unprofitable, reinvestment yields are low, and higher book yielding bonds are burning off at an accelerating pace. Total returns on bond portfolios have been strong for the last two years, but current income is challenging. Add to this higher volatility, tight spreads, punitive ratings surprises, and an uncertain accounting and regulatory framework, and it's enough to cause even the most seasoned executive to lose some sleep! The two highly respected presenters will discuss optimization strategies with and without ALM considerations in the current environment.

Networking Break 3:30-4:00pm
sponsored by Deloitte & Touche

CFO Panel – Challenges for 2011/2012 and Beyond 4:00-5:00pm

Moderator: Graham Segger, FCA

Panelists:

Doug Hogan, SVP and CFO, Dominion of Canada General Ins. Co.
Omar Rasul, CFO, Chartis Canada
Jeff Wickware, CFO, Allstate Canada

This conversational format panel of insightful and experienced CFO's will share their thoughts on a myriad of issues including the challenges and opportunities presented by current market conditions, M&A, technology, regulation, capital, expense management and the pursuit of talent. Q&A will be encouraged.

Closing Remarks: Graham Segger and Joel Baker 5:00pm

Closing Cocktail and Networking Event 5:00-6:00pm
sponsored by TD Bank Financial Group

RIBO Accreditation:
We are pleased to advise that the CIFF has been accredited for the following continuing education credits with RIBO:

  • 3.5 hours - Management
  • 1 hour - Technical