2008 General Meeting Assemblée générale 2008 Toronto, Ontario 2008 General Meeting Assemblée générale 2008 Toronto, Ontario Canadian Institute of Actuaries Canadian Institute of Actuaries L’Institut canadien des actuaires L’Institut canadien des actuaires

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 International ERM Topics JRMS INARM Webinar IAA Solvency 2 David Ingram, Willis Re

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 Joint Risk Management Section International Committee Newsletter INARM Webinar

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 International Network of Actuarial Risk Managers Listserv – 400 members Blog – LinkedIn Group – 390 members Summer Book Discussion – 2000 hits

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 Global ERM Best Practices Webinar Program runs for 18 hours continuously!

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 International Actuarial Association Enterprise & Financial Risks Committee –ERM Note –CARE Project –ARRMP –Global Actuarial statement about financial crisis

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 International Actuarial Association ERM Credential –Statement of Intent –Draft Syllabus –Draft Treaty Pensions & Employee Benefits Committee –Regulatory trend towards ERM for Pensions –ERM Note version for Pensions???

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 Solvency II EU Approval Pillar 1 - Capital –QIS 4, QIS 5 Pillar 2 – Systems of Governance Pillar 3 – Reporting Requirements

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 Source: CAS Solvency II Webinar

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 Pillar 1

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 Pillar 2 Requirements –ERM Program –Own Risk and Solvency Assessment Optional –Internal Capital Model

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 ERM Program Risk Management Policy Risk Management Statement Risk Responsiveness and Feedback loop IAIS Paper IAA Note

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 Own Risk and Solvency Assessment

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 Internal Capital Model Can be used to produce ORSA If approved, can be used to replace Pillar 1 result

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 Pillar 2 Conclusion Supervisory review of ERM & ORSA Optional – Supervisory review & approval of internal model  Revised Capital Requirement

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 Pillar 3 - Reporting Early Stages of Development FSA: “likely to require two different types of report: the public, annual Solvency and Financial Condition (SFC) report; as well as further information that is considered inappropriate to disclose publicly but is needed for the purposes of supervision.”

2008 General Meeting Assemblée générale General Meeting Assemblée générale 2008 Questions JRMS INARM Webinar IAA Solvency 2