S&P and PricewaterhouseCoopers’ Fourth Annual Bermuda (Re)insurance Conference Looks At Finding the Upside of Financial Turbulence

NEW YORK Oct. 7 /PRNewswire/ — With (re)insurers looking to position themselves for growth as they manage their capital, yet still brace for continued potential investment losses, the fourth annual (Re)insurance conference being sponsored by Standard & Poor’s Ratings Services and PricewaterhouseCoopers will focus on “Finding the Upside of Financial Turbulence.” The event will be held on Nov. 12-13, 2009 at The Fairmont Hamilton Princess in Bermuda. The conference panels will look at the risks, challenges and opportunities within the current operating environment, as well as the issues that are re-shaping the competitive landscape.

Topics on the agenda include:

• Investment Risk — The recent capital market turmoil has given rise to questions around some existing investment strategies and portfolio allocation, and this panel will discuss the lessons learned from the capital market crisis and what this means for the (re)insurance industry;
  

• Evolving Global Regulatory Landscape — The potential for Federal regulatory oversight in the U.S. and other regulators considering changes in response to the financial crisis highlights the importance of how organizations think about regulatory compliance. In addition, the U.S. Congress continues to consider changes to tax legislation which is causing a variety of reactions by off-shore (re)insurers. Panelists will deliberate these potential changes and what it means for the Bermuda industry;
  

• Emerging Risks — Panel participants will look at how the industry and their companies are responding to the new challenges arising, such as the threat of regulatory backlash, the continued uncertainty of capital market access, and mid-term inflation risk;
  

• Capital Management — Industry executives will discuss the issues within capital management, including capital levels, optimal capital structures, how accounting changes may impact the way companies do business, and the availability of alternative capital instruments;
  

• Mergers & Acquisitions — A challenging investment environment and unprecedented economic times coupled with a challenging capital raising landscape will be the backdrop for this discussion by industry executives of the differing perspectives and challenges for willing buyers and sellers as some companies look to fund capital shortfalls and others try to capitalize on expansion opportunities;
  

• Catastrophe Season/Modeling — A panel of industry executives will discuss what advancements have been made since Katrina, whether these changes helped deal with Ike and Gustav, and whether the industry is prepared for cat season going forward.
  

“The impact of investment losses stemming from the current financial crisis has caused many industry participants to look both internally and externally at the dynamics of and mechanisms in place for risk management and how this relates to capital and asset management, as well as day-to-day operations across their entire enterprise,” said Grace Osborne, managing director and North American head of Standard & Poor’s Insurance Ratings Services. “With this platform for discussion, we’ve again taken a close look at the current environment to identify key issues and concerns that may impact the industry going forward.”

“As we come together in our fourth year, we’re further building on this opportunity to deliver unique insights and viewpoints as we’ve so successfully done in the past ” said Dan Grady, Insurance and Reinsurance Partner, PricewaterhouseCoopers in Bermuda. “Our industry is facing a remarkable set of circumstances that will no doubt change and challenge its approach to conducting business on both a macro and micro level for years to come. We’re looking forward to a robust discussion of front-of-mind issues, such as managing through economic turbulence, identifying and addressing risks as they emerge, and developing a strategic position that enables growth while maintaining strong operating standards.”

(Re)insurance industry leaders will be joining senior credit analysts from Standard & Poor’s New York and London offices and senior partners from PricewaterhouseCoopers global insurance practice for these interactive panel discussions.

Confirmed panelists include:

• Michael E. Angelina. Chief Risk Officer & Chief Actuary, Endurance Specialty Holdings Ltd.;
• Albert Benchimol, Executive Vice President & Chief Financial Officer, PartnerRe Ltd.;
• Jay Cohen, Managing Director – Equity Research, Bank of America – Merrill Lynch;
• Joseph E. (Jeff) Consolino, Executive Vice President & Chief Financial Officer, Validus Holdings, Ltd.;
• Jeremy Cox, Deputy Chief Executive Officer, Bermuda Monetary Authority;
• Andrew Cook, Chief Financial Officer, Harbor Point Ltd.;
• John C.R. Hele, Chief Financial Officer, Arch Capital Group Ltd.;
• Bradley L. Kading, President and Executive Director, The Association of Bermuda Insurers & Reinsurers;
• Kenneth Kurtzman, Executive Vice President & Chief Risk Officer, Platinum Administrative Services Inc.;
• David A. Lalonde, Senior Vice President, AIR Worldwide Corporation;
• Ricky E. Lines, Senior Vice President & Chief Financial Officer, Oil Insurance Limited;
• Michael J. McGuire, Chief Financial Officer, Endurance Specialty Holdings Ltd.;
• Joe Roberts, Executive Vice President & Chief Financial Officer, Max Capital Group Ltd.; and
• Jacob D. Rosengarten, Executive Vice President & Chief Enterprise Risk Officer, XL Capital Ltd.
  

A full agenda and registration form are available at www.bermudareinsurance2009.com .

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SOURCE Standard & Poor’s