Ms. Anusha THAVARAJAH
Regional CEO, Asia PacificAllianz
Anusha Thavarajah is Allianz’s Regional Chief Executive Officer for Asia
Pacific since December 1, 2021. She is also a member of Allianz Asia’s
Regional Executive Board, which is responsible for setting and executing
Allianz’s growth strategy in Asia.
Anusha was previously Allianz’s Regional Chief Executive Officer, Life & Health for Asia Pacific, where she was responsible for the profit and loss and functional development of Allianz’s Life & Health business in Asia.
Prior to joining Allianz Asia Pacific in December 2019, Anusha held the position of Chief Executive Officer at AIA Bhd. In addition to its three main business lines – Agency, Partnership Distribution and Corporate Solutions, Anusha oversaw AIA Malaysia’s Takaful, General Insurance, Pension and Asset Management, and Health Services units.
Anusha was also the first female President of the Life Insurance Association of Malaysia, Chairperson of the Malaysian Insurance Institute as well as the first female CEO in the AIA Group when she was appointed to head AIA Malaysia in June 2015.
Anusha has almost 30 years’ experience in the financial services industry having served in various senior leadership roles in the UK, Hong Kong and Malaysia. She graduated with First Class Honours in Mathematics and Statistics from the University of Birmingham and is a Fellow of the Institute of Actuaries, United Kingdom, as well as a Fellow of the Malaysian Insurance Institute.
Anusha also serves as a member of the Monetary Authority of Singapore’s (MAS) Financial Centre Advisory Panel, which advised the MAS on Singapore’s financial sector reforms and strategies.
Mr. Jacky CHAN
Regional Chief Executive & Group Chief Distribution OfficerAIA Group Limited
Mr. Jacky Chan - Regional Chief Executive and Group Chief Distribution Officer
responsible for the Group’s businesses operating in Mainland China, Hong Kong
SAR, Macau SAR, South Korea and Taiwan (China) as well as the Group’s agency
distribution, partnership distribution, corporate solutions and digital platform
partnerships. He is a director of various companies within the Group, including AIA
Company Limited and AIA International Limited. Mr. Chan has extensive life
insurance industry experience having worked at AIA for the past 36 years. Prior to
becoming a Regional Chief Executive, Mr. Chan was Chief Executive Officer of AIA
Hong Kong and Macau since 2009. Previously, he held several senior positions
including the Country Head of AIA China, responsible for overall business
performance and results in China; Executive Vice President - Distribution &
Marketing of Nan Shan Life Insurance - Taiwan; Senior Vice President & Head of
Life Profit Centre of AIA - Asia (ex-Japan & Korea).
Mr. Chan holds a Bachelor of Science Degree from the University of Hong Kong.
He is a Fellow of Society of Actuaries (FSA), a member of American Academy of
Actuaries (MAAA) and a Fellow of Canadian Institute of Actuaries (CIA).
Ms. Lilian NG, FASHK
Managing Director, Strategic Business GroupPrudential Plc
Lilian Ng is the Managing Director, Strategic Business Group and a member of the Group Executive Committee of Prudential plc. She is responsible for the insurance operations covering mainland China, Hong Kong and Taiwan; and the Group-wide customer, distribution and marketing strategy across the network of insurances businesses.
She is the Chairman and Director of Prudential Hong Kong Limited and a Director at CITIC Prudential Life Insurance Company Limited.
Lilian has been part of the Prudential family for over 25 years and have held a range of leadership roles, including Chief Financial Officer of Prudential Hong Kong, Chief Operating Officer, Insurance and Chief Executive, Insurance of Prudential Corporation Asia. She is a Fellow of the Institute of Actuaries of Australia.
Mr. Mark VT SAUNDERS, FASHK
Senior Advisor, Blackstone Inc.INED Board Member, Prudential plc
Council & Co-Chair Strategy Committee, ASHK
Pre-retirement he was a member of the AIA Group Executive Committee leading Strategy and Corporate Development for the Group (2014-2022) and before that the Senior Principal and Managing Director and a member of the Tillinghast Global Leadrship Council at consulting firm, Towers Watson, establishing a leadership position in M&A and the area of economic value determination and optimisation for Asian insurers (1997-2014). Pre that he was Hong Kong CEO of insurer, Clerical Medical Investment Group (1988-1997), all based in Hong Kong over the last 30+ years.
He is now a Senior Advisor to Blackstone Inc and a Member of the Board of Directors of Prudential PLC and an External Advisor to management consultants as well as an Executive Council member of the Actuarial Society of Hong Kong and of the International Insurance Society. He is a Fellow of the Institute of Actuaries and the Actuarial Society of Hong Kong and has been a Fellow of four other professional actuarial bodies.
Mr. Timothy WONG FSA, FASHK
PresidentActuarial Society of Hong Kong
Timothy served as Vice President of ASHK in 2023 and has been serving as council member of ASHK since 2022. He is a member of the Hong Kong Federation of Insurers (HKFI) Actuarial Working Group, a member of HKFI Task Force on Early Adoption of the RBC framework and Task Force on Risk-based Capital Framework.
Timothy is a Fellow of the Society of Actuaries and holds a bachelor’s degree in actuarial science from the University of Hong Kong.
Hon. Paul CHAN
Financial SecretaryHong Kong Special Administrative Region
Mr. Stephen YIU, JP
ChairmanInsurance Authority
Mr. David CUMMINGS
President-electCasualty Actuarial Society
Cummings earned his CAS Fellowship in 2002 and is president-elect of the CAS for 2023-2024. He is also serving on the CAS Risk Management Committee. He previously served on several CAS committees related to examinations, research, and programming; he also held prominent leadership roles on the CAS board of directors (2018-2021) and as the CAS vice president-research (2014-2017).
Mr. David WHITTLE
PresidentActuaries Institute Australia
Having previously held the role of Chief Risk Officer for CBA’s Wealth & Private business, as well as Chief Reserving Actuary for Zurich’s Asia-Pacific general insurance business and Partner at KPMG, David is passionate about leading people in the management of insurance risk.
For David, his breadth of experience spanning reserving, pricing, underwriting, general management and risk management is a testament to his actuarial training which, combined with an ethos of embracing change, allowed him to follow a varied and fulfilling career path.
Having witnessed the diversity of opportunities available to actuaries and the impact their work can make, David is committed to fostering the growth of the actuarial profession to help shape the world of tomorrow.
Mr. John ROBINSON
Past President and ChairSociety of Actuaries
Robinson previously served as a member of the SOA Board of Directors. He volunteers regularly as an SOA exam grader and with the SOA’s Diversity, Equity and Inclusion Committee, and the Diversity, Equity and Inclusion Research Advisory Committee. Robinson previously served as president of the International Association of Black Actuaries (IABA). He holds a B.Sc. (Special) in Mathematics from the University of the West Indies, Jamaica, an M.S. in Statistics from the University of Delaware, and an M.S. in Statistics from Florida State University.
Ms. Kartina Tahir THOMSON
PresidentThe Institute and Faculty of Actuaries
As a subject matter expert in the UK and European insurance regulation, she advises firms on resolving their regulatory issues and adding business value by helping boards in their decision-making. From roles as Chief Risk Officer, a member of the supervisory panel at the Bank of England, and a partner to C-suites and boards of various firms, she brings practical experience to business solutions.
Kartina holds leadership positions in the actuarial profession in the UK and globally. She has served on the IFoA Council for the past seven years and was a member of its Audit and Risk Committee. She was also on the Board of Directors of the Actuarial Association of Europe for four years.
Kartina is passionate about inclusion, social mobility, and education, which she has channelled through her role as the Chair of the IFoA Foundation for the past three years. She mobilised the charity to make a remarkable impact on the next generation of actuaries and the wider actuarial community.
Mr. Martin NOBLE, FASHK
Chief Financial OfficerZurich Insurance
With a career spanning over 20 years so far, Martin has an actuarial technical background, holding a variety of roles at Zurich Insurance and KPMG. At Zurich Insurance, Martin was Senior Actuary and UK P&C Chief Reserving Actuary from 2014 to 2018, and Asia Pacific Chief P&C Reserving Actuary from 2018 to 2020, prior to his appointment as Hong Kong CFO in 2020.
Prior to joining Zurich Insurance, Martin held several roles at KPMG in Hong Kong, China, Asia Pacific and the UK, supporting clients with a range of actuarial consulting, audit, M&A, regulatory, capital management and strategic advice.
Martin concurrently supports a portfolio of Hong Kong and Asia Pacific industry work group volunteer activities.
Martin is Fellow of the UK Institute and Faculty of Actuaries and is Fellow of the Actuarial Society of Hong Kong. He graduated from Imperial College London with an MSci degree in Mathematics.
Dr KOH Yi Mien
External AdvisorBain & Company
A medical graduate of the University of Melbourne, Australia, Yi Mien has an MSc in Public Health from the London School of Hygiene and Tropical Medicine, University of London, an MBA from the City University of London and a Doctor of Business Administration from Cranfield University, UK. Yi Mien is a Fellow of the UK Faculty of Public Health, the Royal Australasian College of Physicians, the Royal Australasian College of Medical Administrators, the Hong Kong College of Community Medicine and the Hong Kong Academy of Medicine. She is a Fellow of Life Management Institute (FLMI) and holds an Individual Insurance Agent's License with the Hong Kong Insurance Authority.
As a population health expert, Yi Mien sees insurance playing a pivotal role in driving innovations in healthcare. As payors, insurance can drive the efficient delivery of the health value chain through product design, partnerships and consumer engagement. Yi Mien recently led AXA's medical insurance business in Hong Kong, taking the company to market-leading positions in the government-led Voluntary Health Insurance Scheme and Employee Benefits. She loves working alongside actuaries and business partners to create innovative insurance solutions to deliver outstanding customer experiences that meet consumer needs.
Mr. Sam HUI, JP
Deputy Secretary for HealthHong Kong Health Bureau
Prior to this appointment, Mr Hui was the Deputy Representative of the Hong Kong Economic and Trade Office in Brussels from 2016 to 2020, and the Deputy Secretary for Financial Services and the Treasury (Financial Services) from 2020 to 2023.
Professor FUNG Hong, JP
Chief Executive OfficerCUHK Medical Centre
Before he joined CUHK in 2014, Dr Fung was Cluster Chief Executive of the New Territories East Cluster and Hospital Chief Executive of the Prince of Wales Hospital at the Hospital Authority (HA) from 2002 to 2013, overseeing the management and operations of 7 public hospitals.
Prior to that, he worked in the HA Head Office and was responsible for the planning and development of the public hospital services and facilities for over a decade. He spearheaded the development of HA’s Clinical Management System and electronic patient records.
Dr Fung was also President (2014-2018) and Chief Censor (2010-2013) of the Hong Kong College of Community Medicine. Dr Fung is well recognized for his expertise in medical leadership, health planning, health informatics, and health services management.
Ms. Candy ESTEBAN
CFOSunLife Philippines
Prior to joining Sun Life, Ms. Esteban held various positions in Citibank and American Express Bank Philippines, two of the leading global banking institutions. Ms. Esteban has nearly 15 years of experience in the areas of controllership, profitability management, financial planning and management reporting, investments, insurance and loans in consumer, corporate banking, wealth management, commercial credit cards business and project management.
Ms. Esteban is a graduate of the Ateneo de Manila University with a Bachelor of Science degree in Management Engineering and she holds a Master’s degree in Business Administration from INSEAD in Singapore and France.
Mr. Erik BLEEKRODE
Head of InsuranceKPMG China & Asia Pacific
Mr. Paul Setio KARTONO
CFO, Prudential Sharia Life AssurancePresident, Society of Actuaries of Indonesia
He is an actuary by training, and his work in Indonesia and the USA led him to become the youngest CFO in Indonesia. Paul is a Chartered Financial Analyst, Fellow of the Society of Actuaries of Indonesia, Member of the American Academy of Actuaries and a Fellow of the Islamic Insurance Society.
Paul is also the President of Persatuan Aktuaris Indonesia (Society of Actuaries of Indonesia) and a board member of Asosiasi Asuransi Jiwa Indonesia (Indonesia Life Insurance Association).
Mr. Phuong CHUNG
ChairmanTC Advisors
Phuong was previously a senior vice president at the Manulife-Sinochem Life Insurance Company and was responsible for Chinese business operations with responsibility for products, marketing and corporate business. Prior to that, he worked at one of the largest global insurance groups AIG (responsible for Vietnam, Indonesia, India, Australia, New Zealand, Japan and South Korea) and Towers Watson. Phuong holds a Bachelor Degree in Commerce from the University of Manitoba. He is a Fellow of the Society of Actuaries.
Mr. Xiaoodong YU, FASHK
CEOTaiping Reinsurance Co., Ltd.
From 2019 to 2022, he was Chief Executive of Taiping Insurance UK based in London. Previously, he was Deputy General Manager of Taiping Re. From 2016 to 2018, he served as General Manager of Risk Management Department of Fosun Group and CRO of Fosun’s Insurance Group, during which time he also served on the board of directors of Fidelidade in Portugal and Peak Re in Hong Kong. From 2002 to 2016, he held various management positions at the Hong Kong management headquarters of China Taiping Insurance Group. He began his actuarial career at AIA Shanghai Branch in 2000.
Sheldon graduated from Fudan University with a Master of Science degree in Applied Mathematics. He is a Fellow of the Society of Actuaries (FSA 2003), a Fellow of China Association of Actuaries (FCAA 2007), a Fellow of the Actuarial Society of Hong Kong (FASHK), a Fellow of Life Management Institute (FLMI), and a Certified Internal Auditor of the IIA.
Ms. Trinity PONG FASHK
General Insurance Committee ChairpersonActuarial Society of Hong Kong
Trinity joined the Actuarial Society of Hong Kong since 2008 and became Council Member and the Chairperson of General Insurance Committee since 2016. She has also been serving the Greater Asia Committee and the China Committee for the Society of Actuaries.
Trinity received her degree in Actuarial Science from the University of Hong Kong. She is a Fellow of the Society of Actuaries (FSA 2011) and a Chartered Enterprise Risk Analyst (CERA 2010).
Mr. Chris HOWELLS
Head of International Insurance SolutionsMacquarie Asset Management
Prior to joining Macquarie, Chris worked at Schroders, where he was a founding member of the global insurance asset management business, specialising in general account investment, asset-liability management, and strategic asset allocation. From 2015 to 2019, he was based in Hong Kong, leading solutions engagement with institutional insurance clients across Asia Pacific before returning to London to additionally assume responsibility for co-ordinating activity with the global multinational insurance client base.
Before commencing his investment career, Chris held a number of senior actuarial roles in the life insurance and reinsurance industries, including Actuarial Function Holder, Head of Financial Reporting, and Head of Pricing. Chris is a Fellow of the Institute of Actuaries.
Mr. John LIU
President & Managing DirectorNomura Asset Management Hong Kong
John graduated with a Bachelor in Science from the University of Tokyo. He is also a Chartered Member of the Securities Analysts Association of Japan Holder (CMA), Chartered Financial Analyst (CFA) charterholder, Chartered Alternative Investment Analyst (CAIA) chaterholder and Financial Risk Manager (FRM) holder.
Ms. Ruby YANG
Chief Executive OfficerConning Asia Pacific
Before joining Conning in 2017, Ruby held business development roles at BlackRock Asset Management, ICBC International, Citibank and Sumitomo Mitsui Banking Corporation, providing client solutions to institutions including sovereign wealth funds, fund managers, insurance companies and banks. She also spent two years of her career as an investment manager at First Eastern Investment Group.
Ruby holds a Bachelor’s degree in International Economics from Peking University, a Master’s in International Securities, Investment, and Banking from the University of Reading, and an EMBA degree from INSEAD Business School.
Mr. Thibaut FERRET
Head of Solutions AsiaHSBC Asset Management
Before joining HSBC, Thibaut was Senior Solutions Director –APAC with Aberdeen Standard Investments and helped to build the solutions business in Asia. Thibaut was also a non-executive director at Heng An Standard Life, a life insurance company in China. Prior to this, Thibaut worked as Head of ALM for Sun Life Hong Kong and Regional Head of Investments for AXA Asia. He was previously Head of Financial Engineering for AXA Investment Managers in Paris, principally in charge of designing bespoke multi-asset solutions for institutional investors. Thibaut started his career in Singapore in private banking and had held risk roles for banks in Paris. Thibaut holds a Master’s degree in Engineering from Mines ParisTech in France. He is also a CFA® Charterholder and a fellow of the Institute and Faculty of Actuaries in the UK.
Mr. Wil CHONG
Executive Advisor, Asia PacificCanada Life Reinsurance
Wil has more than 25 years’ experience in the financial services industry and he has served in leadership roles in US, Korea, Switzerland, and Singapore. His previous roles included Global and Country Heads, Principal Officer, CFO roles for global re/insurance entities. He was with Allianz for a decade and was the Global Head Allianz Re Life/Health as well as Chairperson of Allianz Global Life/Health Reinsurance Committee. With Swiss Re, he was a member of the Asia Leadership team and China Country Head for Life/Health. Mr Chong is a Fellow of Society of Actuaries and a Fellow of Singapore Actuarial Society.
Mr. Mehul DAVE, FASHK
APAC P&C Practice LeaderWillis Towers Watson
Ms. Winnie WONG
CEOAsia Insurance
She is a recognized industry expert, regularly speaking at numerous industry conferences and is very active in the financial services industry and community as follows:
Winnie was appointed as a Justice of the Peace (JP) in July 2021. She is a recognized industry expert, regularly speaking at numerous industry conferences and is very active in the insurance industry and community. She is a former Board Member of the Financial Services Development Council (FSDC) / Convenor of the New Business Committee of FSDC. She also sits on The Human Resources Planning Commission, The Independent Commission on Remuneration (for Members of the Executive Council and the Legislature, and Officials under the Political Appointment system of the HKSAR), member of The Advisory Board of the Hong Kong Export Credit Insurance Corporation (HKECIC) and Chairman of Audit Committee under sub-group of HKECIC. Since 2016, she is a member of the Steering Committee of Financial Services and the Treasury Bureau (FSTB) on the Pilot Program to Enhance Talent Training for the Insurance Sector and HKTDC Belt & Road Committee, Professional Services Working Group.
Winnie also appointed as Director of PICC Life Insurance Company Limited in China in 2023. She is a Past Chairman of Hong Kong Federation of Insurers (HKFI), Governing Committee of HKFI, Councilor of General Insurance Council (GIC), also serves as the Chairman of Task Force on Customer Advocacy under GC working group. Further, Honorary Secretary of The Insurance Complaints Bureau (ICB), Deputy Chairman/Councilor of Motor Insurers’ Bureau (MIB) and a Councilor of Employees Compensation Insurer Insolvency Bureau (ECIIB). She is a Board member of Zonta Club of the New Territories, member of Hong Kong Academy of Finance (HKAoF), Advisor of Our Hong Kong Foundation, Honourary Advisory Board Member of Actuarial Society of Hong Kong. Winnie is a member of Board of Trustees and a Director of the Alumni Association of Shaw College of The Chinese University of Hong Kong (CUHK), also the MBA Alumni Advisory Board of The HK University of Science & Technology (HKUST), also invited as Adjunct Associate Professor of CUHK Jockey Club School of Public Health and Primary Care in 2024.
Winnie has nominated The Directors of The Year Awards 2023 by The Hong Kong Institute of Directors, Winner of Asia’s Most Inspiring Executives of the Asia Corporate Excellence & Sustainability Awards (ACES) 2022, Winner of Elite Women 2021 by Insurance Business Asia and Top 3 Finalist of Women of Influence (Leading Woman on Boards) 2021 by The American Chamber of Commerce in HK.
Winnie graduated from CUHK, obtained an MBA Degree from HKUST and completed the International Management Development Program at The University of California, Los Angeles (UCLA). She is also a Chartered Insurance Practitioner and fellow member (FCII) of the Chartered Insurance Institute (UK), Associate in Risk Management (ARM) of the Insurance Institute of America.
Dr. Henrik NAUJOKS
Senior PartnerBain & Company
Henrik has more than 29 years of management consulting experience, addressing the most complex challenges facing financial services leaders. Over the past several years, his work has predominantly focused on digital and customer-led transformations and the re-invention of the insurance industry.
Before joining Bain’s Hong Kong team, Henrik worked in several of our other global offices, including Munich, Dusseldorf, Zurich, Los Angeles and Hong Kong.
Henrik is a frequent speaker at financial services industry meetings. He has been quoted in leading publications, such as the Financial Times, The Economist, Forbes.com and The Business Times. He has also been interviewed on CNBC and Bloomberg.
In addition to his client work, Henrik dedicates time to social initiatives and acts as an advisor for several non-profit organizations and social entrepreneurs. In 2007, the World Economic Forum selected him as a Young Global Leader.
Prior to joining Bain in 1993, he held an apprenticeship in banking.
Henrik studied business administration in Munich and earned his doctorate at the University of St. Gallen, where he wrote his thesis on organizational theory and behavior in large organizations. He was also granted a scholarship by the German National Merit Foundation (Studienstiftung des deutschen Volkes).
Mr. Yuman CHAN
General ManagerBupa Hong Kong
Yuman is a passionate executive with over 26 years of experience in the insurance industry across regional markets, including Asia, Europe and the US, in roles related to technology, change and risk management, as well as operations and strategy. Prior to joining Bupa, Yuman was the Director of Strategy at AIA Group Office. He also previously held senior leadership roles with Cigna and AIG. He has led a number of initiatives and projects that have driven significant growth in the insurance business. Yuman’s passion is well aligned with Bupa’s mission of helping people live longer, healthier, happier lives and making a better world. His objective is to lead Bupa Hong Kong to the next chapter by delivering a step-change in customer experience and giving customers something unique in the market.
Mr. Jonathan LARSEN
Chief Innovation OfficerPingAn
Jonathan spent 18 years at Citigroup where he was most recently Global Head of the firm’s Retail Banking and Mortgage businesses, generating ~$12Bn in Revenues and spanning 19 countries. He has been at the leading edge of the financial services industry for the last 33years across the Asia Pacific region and globally. He brings a unique blend of strategic vision, operational depth, and understanding of the new technology landscape. He has led multiple large-scale, successful businesses across a wide range of markets and has extensive experience in negotiating and managing partnerships and M&A transactions.
Prior to Citi, Jonathan was a Principal in the Financial Services Practice of global management consulting firm, Booz Allen & Hamilton where he spent eight years advising large banks and other financial institutions across Asia, Australia and New Zealand and in the United States and Europe.
Jonathan is a Distinguished Fellow of the Institute of Banking and Finance, Singapore and was named Retail Banker of the Year in 2011 by Asian Banker magazine. He has been widely quoted in major business publications including the Financial Times, Bloomberg, Reuters, New York Times, Wall Street Journal, the Economist as well as local media throughout Asia Pacific. Jonathan holds a Bachelor of Arts (Hons) from the University of Melbourne.
Mr. Victor CHONG
Head of Enterprise CommercialMicrosoft Hong Kong
Before joining Microsoft, Victor was most recently the Head of Enterprise Segment at Cisco Systems where he led the transformation in delivering business value to enterprise customers across Asia Pacific. Prior to that, Victor also played a vital role in building Cisco’s successful Cybersecurity business in the Greater China region. He has established ample thought leadership in the region, established strategic partnership and constructed a cybersecurity lab in partnership with the city of Wuhan. Prior to that, Victor was also the global client lead for HSBC at Cisco.
Victor also served as the Head of North Asia for Blue Prism where he helped enterprises pioneer the adoption of digital workforce to realize tremendous productivity gain through AI and RPA.
Victor graduated from Queen’s University, Canada with a dual degree in computer engineering and economics. He also completed a leadership program at Chicago Booth School of Business.
Ms. Carmony WONG
Senior Vice President, Southeast Asia Markets & Chief Executive Officer, Hong KongRGA
Carmony, who joined RGA in 2001, has over 25 years of life insurance experience. In 2007, she was named Assistant Vice President, Head of Underwriting and Claims, where she led RGA Hong Kong’s Underwriting and Claims function, supporting clients in Hong Kong and Southeast Asia and participating in product development initiatives. In 2012, she was promoted to Head of Underwriting Business Development for Asia and then took up the role of Head of Hong Kong and High Net Worth in 2017. Carmony was appointed Senior Vice President in 2019 and named Chief Executive Officer of the Hong Kong office in 2023.
Carmony holds a bachelor’s degree in biology from The Chinese University of Hong Kong. She is a Fellow of the Life Management Institute (FLMI), an Associate of the Academy of Life Underwriters (AALU), an Associate of the Chartered Insurance Institute of UK (ACII), and a Senior Associate of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF).
Ms. Selina LAU
Chief ExecutiveThe Hong Kong Federation of Insurers
Selina has accumulated extensive management and communications experience in the field of insurance since she joined the HKFI in 1997. In addition to overseeing the operations of the HKFI and its 30+ technical committees and various consumer education and communications projects, she also spearheaded several significant initiatives for the industry.
Externally, she is a member of the FSTB’s Shenzhen-Hong Kong Financial Co-operation Committee, Insurance Authority’s Insurance Advisory Committee, Asian Financial Forum Steering Committee and Road Safety Council. She also serves as a member of the Hong Kong Science and Technology Parks’ Data Governance Steering Committee, Institute of Big Data Governance Council, Capacity Building Working Group under the Centre for Green and Sustainable Finance and Insurance Training Advisory Committee of the Qualifications Framework. Recently, she has been appointed by the Hong Kong Tourism Board as the Hong Kong Convention Ambassador.
On the international front, Ms Lau serves the East Asia Insurance Congress (EAIC) as Assistant Secretary & Treasurer. She is also a member of the Nomination Committee and Education Forum of the International Union of Marine Insurance (IUMI). In 2021, 2022 and 2024, Ms Lau has been elected Asia’s Elite Women in Insurance Industry by the Insurance Business Asia.
Ms Lau holds a Bachelor of Arts Degree from the University of Hong Kong, majoring in English and Translation. She also acquired a Master Degree in Communications and New Media at the City University of Hong Kong. She is a graduate of the seventh class of the Chinese Academy of Governance (Hong Kong).
Dr. Axel BAUR
Chief Executive OfficerAmplify Health
Today, with over 30 years of industry experience, Axel leads Amplify Health, a health-tech company aspiring to make Asia healthier through excellence in technology, data science and people empowerment. Staying true to his passion in innovation and entrepreneurship, he strives to create new and shared value in Asia's health systems.
Mr. Bill SONG
Chief Executive OfficerPeak 3
Mr. Song has more than 18 years of experience in insurance. He is a pioneer in Chinese digital insurance and has supported many internet groups, like Alibaba, Tencent, and Didi to start their insurance sectors since 2009. Before joining ZhongAn, Mr. Song worked as COO of Allianz China.
Mr. Song graduated from the ITP program at Chu Kochen Honors College of Zhejiang University. He holds a bachelor’s degree in chemical engineering from Zhejiang University and a master’s degree in finance from SUN YAT-SEN University.
Mr. Paul SWEETING
Senior AdvisorHassana Investment Company
Paul has chaired a number of actuarial boards, committees and working parties, and served as Honorary Secretary for the Institute of Actuaries prior to its merger with the Faculty of Actuaries. Paul is also a Fellow of the Chartered Institute for Securities and Investment, the Royal Statistical Society and the Royal Society of Arts. In addition, he is a Chartered Enterprise Risk Actuary and a CFA Charterholder. He holds a PhD in Economics from the University of Bristol.
Mr. Michael STOROZHEV
IAA Future Taskforce (Chief Underwriting Officer, PassportCard Australia)Looking to push the Actuary’s skill set further, Michael helped found the Young Data Analytics Working Group for the Actuaries Institute of Australia back in 2017, and currently contributes on the Data Science Practice Committee. He is also part of the International Association of Actuaries’ Future Task Force, and has spoken extensively on Data Science, AI and the Future of the Actuary.
Currently Chief Underwriting Officer at PassportCard Travel Insurance, Michael looks after end-to-end actuarial, underwriting, reinsurance and analytics for a newly launched travel insurance MGA in Australia
Ms. Sally WAN
Chief Executive OfficerAXA Greater China
Sally has extensive management and business development experience in insurance companies covering Asia Pacific Region. She has held a number of senior positions in major insurance companies in Asia, including Hong Kong and Japan.
Prior to joining AXA Hong Kong and Macau in 2018, Sally was with AIA Group for more than 11 years in various senior positions including Regional Director in Financial Planning and Management and Regional Business Development Director. She spent 7 years in Tokyo with Allianz Fire and Marine Japan Ltd as Chief Financial Officer and other senior positions. She started her career in KPMG Hong Kong in 1996.
Sally serves as a member of the HKFI Governing Committee Members, a Councillor of the General Insurance Council (GIC), the Chairman of the Virtual Asset Insurance Working Group, and a Councillor of the Life Insurance Council (LIC). She is also a member of the Industry Advisory Committee on General Business for the Insurance Authority, a Council Member of the Motor Insurers’ Bureau of Hong Kong and a member of the Market Development Committee for the Financial Services Development Council. Besides industry governing committees, she is the Chairperson of the East Asian Insurance Congress 2024 Organising Committee, a member of the HKMA Insurance Management Committee and the Hong Kong Academy of Finance. As a representative of HKFI, Sally joins HKGCC Economic Policy Committee as a member to study and advise on economic policy impacting the general economic environment, competitiveness, and future of Hong Kong. With her unwavering commitment to promoting corporate happiness and employee well-being, she has been appointed as the Honorary Advisor for Chief Happiness Officer Association.
Sally is a qualified accountant with CPA Australia and holds a Bachelor’s degree in Commerce from The University of New South Wales, Australia.
Mr. Edward MONCREIFFE
Chief Executive Officer, Global InsuranceHSBC Holdings plc
Ed has been with the HSBC Group for 18 years during which time he has held a number of leadership roles, including Head of Life and Pensions Brazil, Global Head of Retail Insurance and Global Head of Insurance Strategic Partnership. Prior to his current role, Ed was Chief Executive Officer of HSBC Life Hong Kong and Macau for 7 years.
Outside of HSBC, Ed plays an active role in the local and business circles in Hong Kong. He is the Chairman of the Board of Governors of the Matilda International Hospital, a member of the General Committee of the Insurance Complaints Bureau (ICB) as well as a member of the Economic Policy Committee and Financial & Treasury Services Committee of the Hong Kong General Chamber of Commerce. He is a former Chairman of the Hong Kong Federation of Insurers (HKFI), and a former Chairman of the City Mental Health Alliance Hong Kong.
He holds a BA (Hons) from University of Durham, UK and a MBA (Hons) from University of Chicago Booth School, USA. Ed is also a Chartered Insurer of the Chartered Insurance Institute (CII) and sits on the Executive Council of the International Insurance Society (IIS).
Mr. Alvin KWOCK
Co-founder & CEOOneDegree
Alvin is a member of United Nations ESCAP’s Banking and Finance Task Force, Hong Kong Insurance Authority’s Future Task Force, CUHK Business School’s Advisory Committee in the Department of Finance, and a founding member of Innovate for Future.
Alvin started his career in J.P. Morgan and spent 11 years there, prior to founding OneDegree. Alvin was JPM’s Asia-Pacific Head of Emerging Technology and Taiwan Head of Research. Under Alvin’s leadership, JPM’s Asia Tech Hardware team has been consistently rated in the Institutional Investors Poll, Financial Times/ Starmine and Asiamoney. He advised a number of global technology powerhouse and venture capitals and served as a guest lecturer at universities.
Ms. Lisa BALBOA
Head of Life and Health Digital Business AcceleratorHannover Re
Ms. Rebecca ZHANG, FASHK
Head of Regional Partnerships, Innovation and Product DevelopmentSCOR
Rebecca first joined SCOR Hong Kong in 2016 and has worked in both Pricing and Marketing roles, focusing on product development and client management.
Prior to SCOR, Rebecca worked in Toronto with both traditional roles such as consultancies and insurance companies, and non-traditional roles such as being one of the first members of the NMG North American practice, and as a senior leader at a listed P2P insurtech startup.
Rebecca is a frequent speaker at insurance events and has keen interest in developing partnership opportunities with insurtech and digital health companies.
Ms. Diana GUZMÁN
Chief Sustainability OfficerPrudential plc
Before Prudential she was Head of Sustainable Development Investment Partnership & Development Finance at the World Economic Forum (WEF) in Geneva, where she spearheaded global alliances to create innovative de-risking approaches through blended finance and inclusive net zero transitions and other sustainable development goals across emerging and developing economies. Before the WEF, Diana was Director for CDP, the global environmental disclosure system, where she was responsible for driving listed companies, investors and municipalities to effectively measure and manage environmental risks and opportunities to drive investment decisions. Before that, she has worked in the carbon markets in Asia, Africa and Europe.
Born and raised in Mexico, Diana has worked in America, Europe, the Middle East and China (including Hong Kong). She holds a MBA from London Business School, a BA in Financial Management from Monterrey Institute of Technology, and a diploma on Chinese Mandarin from Beijing Normal University. She fluent in Spanish, English, Italian and conversational in Mandarin and French.
Mr. Carl CHRISTENSEN
Head Life & Health SolutionsSwiss Re
Prior, Carl was Chief Executive Officer, iptiQ EMEA. Under Carl's leadership, iptiQ became the largest life insuretech in Europe.
Carl has also served as Chief Operating Officer for Swiss Re Protection Partners globally, spearheading Swiss Re's primary manufacturing capability, as well as onboarding new distributors interested in benefitting from a white label offering.
Before joining Swiss Re, he worked at Swiss Life International for 10 years. During his tenure, he built up a number of new insurance carriers in Europe, Middle East, and Asia.
Carl started his career as a management consultant, spending 3 years with Anderson Consulting.
Carl is a Swedish citizen. He holds a degree in International Business & Management from the University of Oxford Brooks, United Kingdom.
Ms. Cathy LYN
FIA FSA Consulting ActuaryIFoA Council Member
IACA Chair 2016 - 2018
Caribbean Actuarial Association President 2009 - 2011
Mr. Paul MELODY, FASHK
Partner, Head of Actuarial Hong KongKPMG China
Paul has a wealth of international experience working with multinationals and large local players, in the areas of:
- IFRS 17 implementation support and advice
- Financial reporting audit and advice, e.g. embedded value reporting, US GAAP reporting
- Mergers and acquisitions, including consulting around initial public offerings with experience in both Hong Kong and mainland China
Mr. Peter TAM
Director & Deputy CEOCoverGo
Before joining CoverGo, Peter was the Chief Executive of The Hong Kong Federation of Insurers for over a decade. Graduated from HKU in 1979, he served in the Hong Kong Government as Administrative Officer rising to the rank of directorate within 10 years. In 1980/81, he studied at Oxford University under Government's sponsorship. From 1990 to 1995, he worked in New York Life/Canada Life, winning the prestigious Dick Penn Memorial Award as the most outstanding young insurance agent in British Columbia, Canada. From 1995 to 1999, Peter was the General Manager of Chairman's Office, Airport Authority Hong Kong. From 2000 to 2004, he was the Executive Director of The Tobacco Institute of Hong Kong comprising Philip Morris, BAT and Japan Tobacco.
Ms. Kim YEOH, FASHK
Chief Financial OfficerSun Life Asia
Kim has over 20 years’ experience in finance, investments, valuation and product management roles in North America and Asia. She began her career as an actuarial analyst in Ontario with Mutual Life of Canada. She joined Sun Life in 2017 as the Head of Asset Liability Management Asia and went on to become Chief Actuary, Asia before assuming the role of Chief Financial Officer, Asia. Prior to that, Kim was the Chief Actuary of Prudential Life Assurance Indonesia. Over her career she has worked in Canada, the United States, Netherlands, Taiwan, Indonesia and now Hong Kong.
Kim holds a Bachelor of Mathematics from the University of Waterloo. She is a Fellow of the Society of Actuaries, the Canadian Institute of Actuaries and the Actuarial Society of Hong Kong, as well as a Chartered Financial Analyst Charterholder.
Kim is an active volunteer in professional associations and industry initiatives to develop the actuarial profession.
Ms. Lilia WAN
ChairTianjin-based Heng An Standard Pension Company
Ms. Wan has played a key role in helping HASL to achieve the first pension license for foreign investment in China. Ms. Wan was appointed as the responsible person in 2019 leading the formation of the Heng An Standard Pension Insurance Company (“HASL Pension”), and has been serving as the Chairperson of the HASL Pension since 2021 responsible for formulating strategic and operational plans. Ms. Wan has been taking the role of the Company Secretary to Heng An Standard Life (“HASL”), the joint venture of Standard Life Aberdeen in China since 2007. Ms.Wan also has been serving as a director on the board of HASL Asia (Limited) since 2017.
Before Ms. Lilia Wan joined HASL, she had worked with Huaxia Law Firm, China Investment Bank Shenzhen Branch, China Development Bank Shenzhen Branch, Asian Institute of International Financial Law of the University of Hong Kong, and Fortis Bank Shanghai Branch, taking a variety of roles and responsibilities. Ms. Wan is the member of the Pension Committee of the China Insurance Asset Management Association, and also the senior researcher of the CITIC Foundation for Reform and Development Studies. Ms. Wan studied at the Peking University, the Guangzhou Sun Yat-Sen University and the University of Hong Kong, and got her doctorate in the University of Hong Kong.
Ms. Vivi HU
CEO & Co-founderYoujiVest Technology
Prior to the inception of YoujiVest, Ms. Hu held various roles at top-tier financial institutions. Her roles included serving as the Director of Product Sales for AsiaPac at the London Stock Exchange, Head of Fund Rating for AsiaPac at Lipper, and Sales Director for the Greater China Region at FactSet.
Starting in 2021, Ms. Hu has spearheaded the collaboration with the University of Hong Kong (HKU) and the Shanghai Advanced Institute of Finance to develop high resolution, ISSB-aligned global climate risk model. This initiative aims to empower financial institutions and businesses to better forecast, analyze, and adapt to the effects of carbon emissions, extreme physical events, and climate change.
Ms. Hu holds a master's degree in Financial Engineering from Durham University and a Bachelor's degree in Economics from Fudan University.
Ms. Zita CHUNG, FASHK
Pension & Employee Benefits Committee Co-ChairpersonActuarial Society of Hong Kong
Prior to that, Ms Chung was a senior consultant at Mercer Investment Consulting providing investment advice for institutional clients in the region. Before moving back to Hong Kong, she worked in Hastings Funds Management and managed an unlisted private infrastructure fund. She is a Fellow of Institute of Actuaries of Australia and holds a Master of Commerce from the Macquarie University, having previously completed the Bachelor of Commerce and Bachelor of Engineering (Honours) from the University of Melbourne.
Mr. Nick VAN DER NEST
Chief Propositions OfficerLife & Health Propositions Studio
Asia Pacific, Middle East and Africa
Munich Re Hong Kong
Nick joined Munich Re in May 2017. He is currently responsible for proposition innovation and multinational client management in Munich Re’s Asian, African and Middle Eastern markets, with a key focus on developing new insurance propositions and concepts, including enabling growth through partnerships with technology providers.
He is passionate about product innovation and underwriting transformation aimed at improving customer experience, to ensure that all customers have adequate insurance protection in place.
Mr. Victor YIM
Head of FinTechCyberport
Victor graduated from the University of Hong Kong with first class honour of degree in computer engineering and he is a PhD candidate (Computer Science) at the University of Hong Kong, focuses on Natural Language Processing applications on Regtech and Sustainable Fintech.
Victor has over 20 years of experience in the international tech industry, and he has held senior positions with different multinational corporations, including TransUnion, Experian, Nice Actimize, SAS Institute and IBM. He has helped these companies to penetrate the ASEAN and China market focusing on Regtech and Financial Crime Risk Solutions.
Mr. William YEUNG
Co-founder & CEOMediConCen
After working in the actuarial teams of several major insurers, he was appointed Director, Digital Commerce at FWD and he has co-founded FWD's digital insurance platform and leading the product and marketing functions. Starting from scratch, the platform ranked number 1 in sales by annualized premium equivalent. He then joined ZhongAn Technologies International as Founding Member helping ZhongAn to develop business outside China.
William got his Bachelor of Science, Actuarial Science at the University of Hong Kong in 2006 and he is co-author of United States patent No US 11,769,209 and Hong Kong patent HK30049794, HK30069090.
Ms. Carmony WONG
Senior Vice President, Southeast Asia Markets & Chief Executive Officer, Hong KongRGA
Carmony, who joined RGA in 2001, has over 25 years of life insurance experience. In 2007, she was named Assistant Vice President, Head of Underwriting and Claims, where she led RGA Hong Kong’s Underwriting and Claims function, supporting clients in Hong Kong and Southeast Asia and participating in product development initiatives. In 2012, she was promoted to Head of Underwriting Business Development for Asia and then took up the role of Head of Hong Kong and High Net Worth in 2017. Carmony was appointed Senior Vice President in 2019 and named Chief Executive Officer of the Hong Kong office in 2023.
Carmony holds a bachelor’s degree in biology from The Chinese University of Hong Kong. She is a Fellow of the Life Management Institute (FLMI), an Associate of the Academy of Life Underwriters (AALU), an Associate of the Chartered Insurance Institute of UK (ACII), and a Senior Associate of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF).
Ms. Orchis LI, FASHK
General ManagerGeneral Reinsurance HK
Orchis is a Governing Committee Member and a Councillor of the Life Insurance Council of the Hong Kong Federation of Insurers (HKFI). She is also the Chairman of the HKFI for 2023-2024. Orchis has been appointed as a member of the Industry Advisory Committee with the Insurance Authority, the Complaints Panel under The Insurance Complaints Bureau, the Appeal Panel on Disciplinary Actions for the VHIS and the Resolution Compensation Tribunal under the Financial Institutions (Resolution) Ordinance. Orchis is also an active member of various committees with the Actuarial Society of Hong Kong. She is the Programme Chair of the Asian Actuarial Conference 2024.
Orchis is a Fellow of the Institute and Faculty of Actuaries and the Actuarial Society of Hong Kong.
Professor TAM Kar-yan
Vice President (Administration and Business) and Chair ProfessorThe Hong Kong University of Science and Technology
Currently, he is the Chairman of the Hong Kong Committee for Pacific Economic Cooperation of the Hong Kong Government and serves on the Council of the Hong Kong Metropolitan University (MUHK), Board of Governors of Technological and Higher Education Institute of Hong Kong (THEi), and the Anti-Money Laundering and Counter-Terrorist Financing Review Tribunal. He is a member of the Academy of Finance and a board member of the European Foundation for Management Development (EFMD)and was the Past President of the Association of Asia Pacific Business Schools (AAPBS).
Mr. Enoch FUNG
Chief Executive Officer, Hong Kong Academy of FinanceExecutive Director, Hong Kong Institute for Monetary and Financial Research
Mr Fung joined the Hong Kong Monetary Authority (HKMA) in 2011, and had worked in various areas including the financial stability surveillance, market development, and international financial cooperation initiatives. Mr Fung has been on secondment from the HKMA to the AoF to take up the CEO post since July 2023. Prior to joining the HKMA, Mr Fung was a Senior Economist with Goldman Sachs (Asia), where he specialised in Asia-Pacific macroeconomic and investment research. Mr Fung holds a Bachelor of Science degree in Statistics and a Bachelor of Commerce degree in Economics from the University of Auckland, and a Master of Commerce degree in Advanced Economics from the University of New South Wales.
Mr. Michael LEAHY
Managing Director PIAM&G
Michael’s time in PIA has seen the business triple in size and in 2019 M&G plc transferred its European insurance businesses into PIA as part of Brexit preparation. In addition to managing PIA, Michael is involved in research and development across M&G including opening up access to the M&G Participating Fund to insurers in Europe and Aisa.
Prior to joining M&G, Michael held a number of senior roles in Standard Life including CEO of Standard Life’s domestic Irish business, Managing Director of Standard Life International and Marketing Director of Standard Life UK.
Michael is a fellow of the Institute and Faculty of Actuaries in the UK and the Society of Actuaries in Ireland and holds an MBA from INSEAD in Fontainebleau, France. Michael is joint chair of the International Council of Insurance Ireland.
Sir Clive COWDERY
Founder, Chairman, and Chief Executive OfficerResolution Life
Prior to 2003, Clive was Chairman and Chief Executive of GE Insurance Holdings, GE's primary insurance operations in Europe, with over $3bn of premium income at that time. The businesses he led while at GE had operations in 12 countries. Before joining GE in 1998, he co-founded J Rothschild International/Scottish Amicable International, a cross-border insurance business based in Dublin. He started his career in insurance advising clients as a broker.
He served as a Non-Executive Director of Resolution Limited, a UK-listed life insurance Group which subsequently became the Friends Life Group PLC. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 index. He stepped down from this position in 2013.
Clive is Chairman and founder of the Resolution Foundation, a non-profit research organisation focused on the needs of low earners in industrialised countries.
Mr. Van BEACH
Global Head of Life SolutionsAON
Mr. Hendrik ROSENTHAL
Director - Group SustainabilityCLP Holdings Limited
With more than 20 years of experience in sustainability and environmental management across the public, private and NGO sectors, Hendrik previously led research and consulting projects in Canada, Hong Kong and Singapore.
Hendrik currently sits on a number of committees on sustainability-related matters, including as Director of the International Emissions Trading Association (IETA), Steering Committee member of the Climate Governance Institute Hong Kong Chapter, and an advisory panel member for the Hong Kong Institute of Certified Public Accountants (HKICPA), amongst others.
Prof. Lapman LEE
Professor of Practice (ESG, Fintech and Sustainable Finance)The Hong Kong Polytechnic University
Prior to his academic/ advisory role, Lapman was a governance, risk management, control (GRC) Partner at Deloitte focused on the insurance industry.
Lapman is active in his industry roles as 1) an advisory council member of the Hong Kong Institute for Monetary Research (part of HKMA) with senior representation of HKMA, IA, MPFA, SFC, FSTB, 2) Future task force member of the Insurance Authority (Regulation, InsurTech, Talent), 3) and Vice Chair of the British Chamber Financial Services Committee, where he chairs the insurance group.
Mr. Sean DEEHAN, FASHK
Pension & Employee Benefits Committee Co-ChairpersonActuarial Society of Hong Kong
Sean has over 27 years of life insurance and pensions experience, including 15 years in the UK and more than 12 years working in Mainland China and Hong Kong. Prior to joining WTW, Sean was the Chief Executive of a UK-owned life insurer in Hong Kong where he led the transaction to sell the business to the group’s Mainland China JV life insurance unit. Before that, he lived in Mainland China and served as the Chief Actuary, CRO and DGM of the JV life insurance business, leading the actuarial, risk management, product development and marketing functions.
Sean is a Fellow of the Institute and Faculty of Actuaries (FFA), a Fellow of the Actuarial Society of Hong Kong (FASHK) has a Global Executive MBA from INSEAD business school. He currently serves on the ASHK Council and is Co-Chair of the Innovation Committee and Pension & Employee Benefits Committee.
Mr. Steven LAM
Industry Analyst - Asia InsuranceBloomberg Intelligence
Mr. Jim LAM
Executive Director and Chief Financial OfficerNWS Holdings Limited
Before joining the Company, he was the director of Finance and Accounts of NWD, a listed public company in Hong Kong. Prior to working with the New World Group, Mr. Lam was the chief financial officer of ANTA Sports Products Limited as well as an executive director and the chief financial officer of SOHO China Limited, both being listed public companies in Hong Kong.
Mr. Lam is a member of the Hong Kong Institute of Certified Public Accountants. He holds a Bachelor of Business Administration degree from The Chinese University of Hong Kong and a Master of Science degree in Accounting and Finance from The London School of Economics and Political Science. Mr. Lam is also a seasoned investor relations professional with a strong equity research background. He was awarded the Hong Kong Investor Relations Association’s Best IR by CFO Large Cap, Institutional Investor’s Best CFOs by Buy-side (Consumer Discretionary) and Best CFOs by Sell-side (Industrials), as well as Finance Asia’s Best CFO HKSAR.
Jian XIONG
abrdnEarlier in his career, he held roles at ANZ Wealth and Deutsche Asset Management. Jian holds an MBA from the National University of Singapore and is a CFA and FRM charter holder.
Optimise Matching Adjustment Spread - A Role of Asset Manager
The analysis begins by delineating the distinct features of Hong Kong's MA framework, highlighting how its specific characteristics differentiate it from the MA frameworks in Singapore and Korea. This comparison sets the foundation for understanding the optimisation methodologies.
Further, the paper argues that for insurers to attain a competitive edge, a three-pronged optimization strategy is essential. The first phase of optimization involves the construction of a MA portfolio with public bonds as underlying assets. This foundational step ensures a robust baseline from which insurers can benefit from the MA. The second step of optimization advocates for the incorporation of private debt into the insurers' portfolios. This addition not only diversifies the investment assets but also offer considerable MA spread pick-up, given private debt's unique risk-return profile. The concluding phase examines the inclusion of the Long Term Assets (LTA), evaluating the potential advantages and drawbacks of such integration.
By dissecting these layers of optimization, the paper aims to provide actionable insights for insurance partners on maximizing the MA benefits in the complex regulatory and investment environment of Hong Kong. Through asset allocation, selection and portfolio management, insurers can significantly enhance their capital efficiency and market standing.
Christopher AU
WTWChristopher holds a PhD in Insurance Regulation and Policy, an MSc in Environmental Policy from Imperial College London, a BA in Geography from University College London, and a Certificate in Enterprise Risk Management.
Climate Risks - Going Beyond Simplistic Approaches
This dynamic environment has seen varied attempts to assess the sustainability of clients and underwriting portfolios, and the impact on underwriting and investment portfolios.
However, continued risk accumulation and losses mean more attention is required. We present additional principles and approaches to consider when looking at risk accumulation and underwriting appetite. These remain rooted in actuarially sound approaches, whilst accounting for changes to observed and likely physical risks, and whilst supporting the acceleration to a low carbon economy.
Joey ZHOU
Nanyang Technological UniversityBridging the Retirement Protection Gap - An International Study of Retirement Schemes and Innovations in Public and Private Sector Solutions
The study offers a qualitative analysis of existing retirement solutions, categorised into three life stages: working adulthood, pre-retirement, and during retirement. Key areas of exploration include:
- Public Sector Schemes: Evaluation of government initiatives designed to ensure sufficient retirement savings and income, alongside provisions for medical and long-term care during retirement.
- Private Sector Solutions: Analysis of private sector offerings that support retirement income, savings, and coverage for medical, health (including critical illness and personal accident), and long-term care needs.
The full study also incorporates surveys and interviews with individuals, insurers, and government agencies across regions. These engagements aim to capture perceptions of the adequacy of public sector coverage and the accessibility, availability, and utilization of private sector solutions. The presentation will update the progress of these ongoing surveys and interviews.
Clement BONNET, FASHK
MillimanSince moving to Asia, Clement has been managing numerous M&A and strategy projects performing work in various markets including Hong Kong, Thailand, Philippines, Vietnam, Indonesia, India, China and Taiwan. His other consulting projects include providing product development and pricing support, developing stochastic models, developing Asset Liability Management (ALM) / strategic asset allocation frameworks and models, designing capital / risk management / hedging frameworks.
He is also co-leading our ALM and capital activities across the region.
Managing an economic balance sheet in Asia using more advanced ALM and hedging strategies
In this session, we will discuss the impact of IFRS 17 and RBC regimes on a typical ALM strategy framework and the potential solutions currently considered by insurance companies across the region. We will then deep dive into some of the more practical aspects when setting more advanced strategic asset allocation frameworks and will then discuss key requirements and considerations when developing a hedging framework with derivatives.
Case studies will be used to support the discussion and help participants better assess the various approaches discussed.
Geoffrey WARNER
Werner AdvisoryGeoff is a recognized expert in insurance pricing, having co-authored the text used by the CAS to educate actuarial candidates in basic ratemaking techniques. He was a pioneer in the use of predictive modeling and telematics for insurance products.
For the past 15 years, Geoff has focused on applying telematics and IoT data to revolutionize motor insurance products. During this time, he has provided strategic and tactical support to over 75 insurance carriers, OEMs, and service providers around the world.
Motor Insurance - The Unfinished Journey
The US motor insurance industry, while regulated, has enjoyed significant freedom to innovate over the past three to four decades. This session will highlight the major changes that have occurred in the US motor insurance products over that time and the changes on the near horizon. Hopefully, the Asian countries can learn from the US successes and mistakes to rapidly innovate to the benefit of their customers.
Fongnei CHAN
Gallagher ReShe joined Gallagher Re Japan in 2023 as a reinsurance broker, specializing in asset intensive and solvency related solution. She is also active in her role supporting professional development and international relation, by being a member of International Relationship Committee of the Institute of Japan (IAJ), Professional Development committee of the Society of Actuaries (SOA), as well as Japan Ambassador of the Society of Actuaries (SOA).
Retirement in Japan - Overview and Recent Trends
Raymond CHEUNG
Basel Medical GroupPreviously, he was the Regional Insurance Lead with Grab whom he pioneered the digital insurance solutions for 8 ASEAN countries. Between 2011 and 2014, he was the Chief Risk Officer for 2 large (re)insurance companies in Singapore. Mr. Cheung is an independent director of an SGX-listed company and a Major Payment Institution in Singapore. He is also a professional ERM and ESG trainer who conducts part-time lecture in several universities and institutions in Asia.
Mr. Cheung holds the Bachelor of Business (Actuarial Science major) with Nanyang Technological University. He is an Associate member of the Institute & Faculty of Actuaries, UK and the Singapore Actuarial Society.
The MedTech Trend and ESG Application in Healthcare Industry
The discussion then shifts to the critical role of ESG principles in fostering a sustainable and ethically responsible healthcare system. We examine how healthcare organizations are integrating environmental sustainability, social equity, and robust governance into their operations, emphasizing the benefits and challenges of such integration.
A focal point of the presentation is the synergy between Medtech advancements and ESG goals. Through case studies and real-world examples, we illustrate how Medtech innovations are driving sustainability efforts, enhancing patient access and care, and ensuring compliance with ethical standards.
Furthermore, we delve into the implications of these trends for the insurance industry. As Medtech and ESG practices reshape healthcare, insurers must adapt to new risk landscapes, underwriting practices, and claims processes. The presentation will explore how insurers can leverage Medtech data to improve risk assessment, promote preventive care, and offer innovative insurance products that align with ESG values.
By linking Medtech trends and ESG applications with the insurance sector, this presentation provides a comprehensive view of how these elements collectively contribute to a more efficient, equitable, and sustainable healthcare ecosystem.
Hassan Scott ODIERNO
Actuarial Partners ConsultingHe is a co-author of the World Bank book Takaful and Mutual Insurance, co-author of the book Essential Guide to Takaful and a contributing author to the books Actuaries in Microinsurance and Health Insurance in Asia. He has also been the external advisor to three universities in Malaysia for their risk management and actuarial science programs.
Hassan is a Fellow of the Society of Actuaries, and in his spare time he helps to run a food bank in Negeri Sembilan Malaysia utilizing actuarial skills to help the needy.
Actuarial Training and the Role of the Actuary in ESG
The target audience for this talk are actuaries involved in risk management, pricing and product development, investment / ALM and regulatory compliance. The level of this talk is introductory and should be able to be understood by everyone.
Will Actuaries Continue to be Relevant for Insurance Industry?
This paper aims at inspiring actuaries to think beyond our traditional work scope and embrace a business leadership role by exploring the new opportunities presented to the actuarial profession in today’s business environment, the critical pre-requisites for transforming actuaries into business leaders, supported by a deep-dive into a number of case studies.
Simon DAI, FASHK
DeloitteAs an actuarial and insurance specialist with strong business acumen, Simon has been specialized in c-suite strategic advisory, governance, operating model designs, merge and acquisition … etc. with focus to solve business problems with knowledge of finance, actuarial, risk, products and strategy.
Co-speakers: Ophelia Au Young
Ophelia Au Young is the China and Hong Kong Actuarial Leader of Deloitte Consulting, with over 22 years of experience in life insurance market. As a consulting leader, she has worked with clients solving a range of business problems ranging from the implementation of the new accounting standard IFRS 17 and new solvency regimes, M&A, actuarial modelling, business planning and financial projections to the design of the future finance and actuarial operating model.
During her time at AIA Taiwan, she acted as the Chief Actuary where her responsibilities included oversight of statutory reserving, financial reporting and product pricing. She is a frequent speaker at various actuarial organizations, presenting on a range of topics relevant to the actuarial community.
Chye PANG
MillimanHe has close to 30 years’ medical insurance experience, including in the USA. His work in the USA included healthcare service provider compensation for HMOs and ROI studies on pharmaceuticals. His work in Asia has covered Fraud, Waste and Abuse analytics, portfolio reviews, turnaround of loss-making portfolios, re-pricing strategies, business development strategies, due diligence / operational reviews and product development.
Co-speakers: Catherine LU
Consulting Actuary
Milliman Hong Kong
Catherine is a Consulting Actuary with Milliman Hong Kong. She has broad experience in both the health and non-life insurance segments across different Asia markets. She advises clients on actuarial topics including but are not limited to portfolio management and data analytics, business planning, market entry, statutory reserving, appraisal valuation, capital management, stress testing and product innovation.
Enhancing the Sustainability of Voluntary Medical Insurance in an Aging Portfolio
The Challenge and Opportunity of ESG to Insurance
The presentation will start with an introduction of ESG and major risks associated with it. It will then discuss the how the insurance product design will evolve with ESG concept as well as how ESG related risk will be considered in the overall risk management framework.
Ji YAO, FASHK
E&YNavigating the VUCA World - The Actuarial Advantage
We'll begin with the journey of self-discovery, focusing on the DISC assessment to identify key leadership traits, followed by key negotiation skills.
Through real-world examples and data-driven insights, attendees will learn how to harness their actuarial expertise to address VUCA challenges.
Kay SHONG
DBS BankWith over 17 years of insurance industry experience, Kay brings expertise in areas like InsurTech, business development, product development, pricing, customer insights, actuarial services, financial modeling, and economic valuation of life insurers.
Kay holds the Fellow of the Society of Actuaries (FSA) and Chartered Enterprise Risk Analyst (CERA) qualifications. She actively contributes to the actuarial field, serving as a Council Member of the Singapore Actuarial Society since 2020 and previously as the Health Committee Chair and a Board member of the International Actuarial Association Health Section.
Her commitment to promoting societal impact through actuarial skills was recognized with the SOA 2021 Young Actuaries in Asia on Societal Impact award. Driven by a curiosity about embracing new technologies, Kay is currently pursuing an Executive MBA at Nanyang Technological University, UC Berkeley, and Tsinghua University.
Julian BALASINGAM
MontouxWill White is the Actuarial Solutions Architect at Montoux. With over a decade of experience, Will leads the actuarial work on Montoux's model copilot offering, integrating generative AI tools to enhance model development, quality, and governance. His efforts have significantly transformed traditional actuarial processes, boosting productivity and positioning Montoux as an industry thought leader. Previously, Will served as Senior Actuary & Product Owner at Montoux, Actuarial Pricing Manager at AIA, and held key roles at Fidelity Life, bringing extensive expertise in actuarial science and AI integration.
Montoux has frequently been recognized by the Society of Actuaries (SOA) as a thought leader in generative AI and experts in the field. Montoux has: hosted a webcast for the SOA on generative AI, presented on generative AI at the 2023 SOA Life Meeting, and published a research paper on generative AI on behalf of the SOA.
Harnessing Generative AI to Augment Actuarial Efficiency and Accuracy
We will delve into real-world applications with live demos and practical examples that the audience can take away and experiment with. Participants will gain insights into how generative AI is transforming actuarial modelling and understand key drivers that are likely to further accelerate this movement.
This presentation aims to provide thought leadership on the future of generative AI in actuarial science, highlighting practical steps and considerations for integrating generative AI solutions into existing processes.
The Rise of Intangible Assets and Addressing the Insurance Protection Gap
However, challenges exist with managing and protecting intangible assets, as their complex nature makes their valuation and risk assessment difficult. Traditional approaches fall short in accurately capturing the value and potential risks associated with intangibles. Additionally, the growing threat of cyberattacks poses a significant risk to the security and integrity of intangible assets. An emerging branch of artificial intelligence (AI) technology can be utilised to help with the analytics to model these assets more accurately.
David PIESSE
Vulcain.AIHe was one of the early pioneers in blockchain technology in 2010 in Estonia and is now investing and working on causality and the changes in actuarial science brought about by third wave AI. He helped launch the first online insurance operation in the dot.com era raising money from the capital markets and recently the first insurance blockchain platform for marine insurance. With SUN Microsystems in 2008 he pioneered the early metaverse with second life and worked on avatar training and insurance protypes for insurance in the virtual world.
A protagonist in intangible assets he is currently looking at specialty risk in cyber, IP. IOT, carbon assets and data itself. n 1980 he immersed himself in remote sensing course at the University of Waterloo to better understand the future of satellite technology. He has an educational background at the British Computer Society and the Chartered Insurance Institute.
Unveiling the Dynamics of Critical Illness Insurance in the Greater Bay Area
The establishment of the Greater Bay Area (GBA) represents the integration of three distinct markets, each with its own unique economic and regulatory landscape. This integration will lead to a variety of emerging trends and challenges that demand special attention.
In this interactive session, participants will explore the evolving landscape of CI insurance within the GBA. Leveraging extensive research spanning the region and insights from Gen Re's Dread Disease Survey, we aim to unveil distinctive perspectives, projections, and insights into imminent risks and evolving trends within this dynamic industry.
Through collaborative dialogue, we will navigate the intricacies of CI insurance, providing valuable insights that will shape future insurance practices within the GBA and beyond.
Join us for an engaging exploration of CI insurance, where we will collectively analyze emerging trends, anticipate challenges, and unearth opportunities that lie ahead in this ever-evolving sphere.
Samuel LIM
Gen ReCo-speakers: Wendy Low
Wendy is an Actuary at Gen Re Life Health Asia’s Regional Research & Analytics team. Her works focuses on data analytics and research on major diseases in Critical Illness products, particularly in cancer trends across Asia. Prior to this, Wendy was with Gen Re London office where her role includes various reinsurance pricing across other lines of business. Wendy joined Gen Re in 2018 and graduated with a Bachelor of Actuarial Science from the London School of Economics. She is a Fellow of the Institute and Faculty of Actuaries.
Guillaume HUET
AccentureWith a broad network in government, executive, industry associations and academia, Guillaume is often solicited for discussions and collaborations related to data science and AI.
AI is Here to Stay
Min Hung CHENG
Global Asia InsuranceSince joining the Global Asia Insurance Partnership (GAIP) in late 2022, she has leveraged her broad range of experience in the insurance sector to work towards GAIP's vision of building long-term risk resilience in Asia by narrowing its protection gaps. GAIP's three pillars, Living Lab, Policy Think Tank, and Talent Development, support the insurance sector through research into key and emerging risks and issues, convening its tripartite partners in dialogues to drive more awareness and action, and developing the pipeline of future talents for the insurance sector.
Min is a Fellow of the Institute of Actuaries Australia.
Addressing Protection Gaps in Asia
This presentation will explore the concept of protection gaps, what has and can be done to address the gaps across the public and private sectors, introduce a framework for an integrated approach to addressing protection gaps, and how the actuarial community can support these efforts.
Excess mortality - What are the key drivers since Covid (both in Asia and globally)
The greatly varying pattern of ongoing excess mortality (EM) has been observed across countries, ages and socioeconomic groups including both general and insured populations alike. Many causative factors are under investigation: the direct systemic impact of delayed healthcare treatments, long-term residual impacts from infection, or the deterioration of existing comorbidities, while also accounting for repeated infection-derived immunity. Additional social elements include the potential acceleration of poor metabolic health and the repercussions of economic challenges.
Initial assumptions that respiratory deaths were the only cause of EM are being displaced with new evidence that other medical considerations, including changes in cardiovascular mortality patterns, may be coming into effect.
As governments seek to solve this challenge, and with an increasingly sparse field of literature and mortality reporting, we have explored the future of excess mortality as a reinsurer.
In this session we report on our findings and analysis, as we examine the expected trajectories of different countries and the future of EM under a range of scenarios.
Participants will learn:
- help to explore the unknown world of publicly available and some private data to understand how to get excess mortality insights
- what are the key underlying drivers of excess mortality
- what may happen in the future due to the current drivers of excess mortality
- how to allow for excess mortality in actuarial pricing and reserving
Lawrence TSUI, FASHK
Swiss RePricing and Valuation of Miles for Airline Frequent Flyer Programmes
We say, turn your everyday spend into your next holiday. Every little mile brings you closer to your next trip. Members choose to earn miles over cash rebates because of value from the free flight ticket. Numerous factors play a role in the pricing of miles. And actuaries are crucial to the optimisation of programme sustainability and currency value, from both airline and member perspectives.
Back to the basics, if insurance calculates premium, benefit and lapse, mileage calculates accrual, redemption and expiry. Insurance companies need reserve to prepare for the future claims; while loyalty programmes need liability to prepare for the future rewards. In this world, we use another IFRS standard, which outlines the best practice framework for miles valuation, liability calculation and revenue recognition.
Emerging trends in this field include modelling of member behaviour, especially earn burn transactions, and forecasting of customer lifetime value. Through understanding the past and predicting the future, insights will be translated into action items across departments in airlines, driving strategic decisions, like the million dollar question, should the next seat on flight be sold or redeemed?
So, fasten your seatbelt and get ready for an eye-opening journey in the Asian Actuarial Conference 2024! Even afterwards you may not remember the dry terms such as breakage, you will become a smarter passenger, member and customer. Plus, you can proudly explain to your family and friends, now that you know how miles work!
Ann CHEUNG
Cathay PacificBefore entering this whole new world, Ann was a reinsurance pricing actuary, specialising in cancer risks and cardiovascular diseases. She was also involved in the product development of lifestyle type health insurance, and once presented the relevant research findings in Japanese. She has an ambition to sharpen actuarial pricing assumptions, which was developed when she first attempted to adopt forward looking approach across health risk factors, and thus she pursued a postgraduate study in Psychology to understand policyholder behaviour. Ann had the pleasure of working abroad and is always eager to explore the world and human beings. She will continue with her interest to merge actuarial knowledge and behavioural science, plus some fun applications in the flying industry!
Ann is a Fellow from the Society of Actuaries. She also actively promotes gender equity and cultural diversity in Cathay.
Navigating Global Life and Health Insurance Demand Trends
Beyond a comprehensive array of traditional demographic factors such as age, sex, insurance knowledge, and income, the report also examines how these generations are embracing online platforms, wearable device and lifestyle factors that influence recent insurance purchase behaviors. Additionally, the report includes an analysis focused on the Asian market, with specific insights into the Hong Kong market, providing local practitioners with relevant insights. Beyond a comprehensive array of traditional demographic factors such as age, sex, insurance knowledge, income, etc., the report examines how these generations are embracing online platforms, wearable devices, and lifestyle factors influencing recent insurance purchase behaviors. The study also features an analysis focused on the Asian market, offering valuable perspectives specific to Hong Kong practitioners.
Andrew PETERSON
SoAPrior to taking on this role in mid-2018, Andy served as the Senior Staff Fellow for Retirement where he worked with SOA members to develop and support better retirement systems.
Andy received a BS degree in mathematics from Taylor University in 1992. He is a Fellow of the Society of Actuaries, an Enrolled Actuary, a Member of the American Academy of Actuaries, and a Fellow of the Conference of Consulting Actuaries. He is also a member of the National Academy of Social Insurance.
Distribution Scientist’s POV - How Actuaries can Help Accelerate Growth in Agency
Historically, actuarial focus has tended to be limited to FYC in pricing and reactive management of overruns whilst CAOs and Agency Management tended to ignore compensation altogether and just focus on Prizes and Awards to drive behaviour.
Many companies across Asia are now starting to review compensation as a behavioural lever to drive strategic objectives of professionalising agency and driving value growth.
Whilst it is relatively straightforward for actuarial teams to review compensation, making material changes is relatively new and many teams are concerned as to how to proceed. In addition, CAO’s are very nervous to stand in front of agents and inform them of “winners and losers”. As a result many companies are hesitant to even start the process.
In this session we would like to share our experiences in applying data and behavioural science to compensation.
How to approach it, insights, ideas and tricks that we hope will help your company optimise what is your biggest expense.”
Stephen APPLEYARD
Insurance Consulting AsiaStephen currently leads Insurance Consulting Asia (ICA), a data-driven strategic advisory firm that brings experience back into consulting and specialises in helping insurers optimise and professionalise their distribution channels.
Today he will be sharing his Distribution Scientist’s POV on how actuaries can help accelerate growth in Agency.
Despite rising insurance premiums across many markets, the active agent workforce at most insurers has stagnated or declined. Stephen has been working closely with Actuaries and Chief Agency Officers to reverse this concerning trend. Today he shares his experience from over twenty agency reviews spanning five Asian markets, to get you thinking about how you can help your CAO reinvigorate their agency to accelerate growth without increasing overruns!
David CUMMINGS
USAA & CASCummings earned his CAS Fellowship in 2002 and is president-elect of the CAS for 2023-2024. He is also serving on the CAS Risk Management Committee. He previously served on several CAS committees related to examinations, research and programming; he also held prominent leadership roles on the CAS board of directors (2018-2021) and as the CAS vice president-research (2014-2017).
Actuaries Putting Al into Practice in General Insurance
In this presentation, David Cummings will describe recent applications of AI that his team is leading, demonstrating the opportunities these tools present across the insurance value chain. He will also share how the Casualty Actuarial Society is preparing actuaries to continue to lead these innovations to support a stronger, more agile property-casualty insurance industry.
Transforming Insurance: The Role of Al in Modernizing Actuarial Practices
Additionally, we trained an AI using life-cycle portfolio choice models to predict insurance requirements based on factors such as age, income, and risk tolerance. This AI model can then suggest appropriate insurance products, helping customers make informed decisions about their financial security.
Jiangang HE
Aixuan ITBachelor and master’s in financial mathematics from Peking University, Off-campus Supervisor for Peking University Postgraduates, Expert in Insurance Society of China Think Tank Worked in several insurance and reinsurance companies in China and Canada. Member or POG of several SOA or IAA research groups and committees. Formerly Deputy Director of Life and Health Insurance Department and Mortality Investigation Office of CAA. Presided over many major industry projects, such as the Third China Life Mortality Tables, the development of the Embedded Value (EV) Standard, and the Life Insurance Company Expense Study.
Has extensive actuarial experience in product pricing, evaluation, experience analysis, embedded value, economic capital, reinsurance, and actuarial software.
Publications:
"China Life Insurance Product Research Report", 2018, 2019, 2020, 2021, 2022, 2023, Xinhua Publishing House
"Research and Practice on China's Mortality Improvement Rate", 2022.01, "Insurance Research"
"Health Management, Creating a New Ecosystem for the Insurance Industry", 2021.02, "Theory and Practice"
"Design, Experience, and Assumptions of Long-term Care Insurance", 2022.04, "Theory and Practice"
"Impact of C-ROSS Phase II Rules and New Accounting Standards on Embedded Value", 2022.08, "Theory and Practice"
"Analysis of the Development Trend of New Life Insurance Products" 2023.09 "Theory and Practice"
Digital Transformation Trends
Manan SHARMA
FISMs. Chin Ching LAU
Director, Financial Development and InnovationBank Negara Malaysia
Prior to joining the department, Chin Ching was a Director in the Insurance Development Department up to March 2022 and a Deputy Director in the Financial Stability Department up to March 2018. She began her career with Bank Negara Malaysia in 2003 after graduating from the University of Cambridge (United Kingdom) with a degree in Economics.
Mr. Clement LAU
Executive Director, Policy and LegislationInsurance Authority
Mr. Lau holds a bachelor's degree in finance and a master's degree in economics, both from The University of Hong Kong.
Ms. Orchis LI, FASHK
Programme ChairpersonAsian Actuarial Conference
Orchis is a Governing Committee Member and a Councillor of the Life Insurance Council of the Hong Kong Federation of Insurers (HKFI). She is also the Chairman of the HKFI for 2023-2024. Orchis has been appointed as a member of the Industry Advisory Committee with the Insurance Authority, the Complaints Panel under The Insurance Complaints Bureau, the Appeal Panel on Disciplinary Actions for the VHIS and the Resolution Compensation Tribunal under the Financial Institutions (Resolution) Ordinance. Orchis is also an active member of various committees with the Actuarial Society of Hong Kong. She is the Programme Chair of the Asian Actuarial Conference 2024. Orchis is a Fellow of the Institute and Faculty of Actuaries and the Actuarial Society of Hong Kong.
Mr. Mike ROLFE
Senior Vice PresidentStrategic Relationship Manager, Global Accounts
Reinsurance Group of America, Incorporated
Mike has over 20 years of international life and health insurance experience. He joined the industry as a life underwriter with Aviva in the U.K. Mike then joined Swiss Re and spent 16 years in Australia, Germany, and Hong Kong serving clients in markets across Continental Europe and Asia Pacific. Mike has worked in various roles across underwriting, corporate strategy, relationship management, and client solutions.
Mike earned undergraduate degree in politics from the University of East Anglia (UEA) in the U.K.
Mr. Martin FRANC
Chief Executive Officer, Asia (ex-Japan)Invesco
Martin joined Invesco in 2013 as CEO, Australia where he drove sustained business expansion focusing on a premium institutional client base and a suite of compelling offshore investment strategies for domestic investors.
Martin began his career in financial services in 1994. Prior to joining Invesco, he was head of distribution, sales and marketing at BT Investment Management where he oversaw growth in net sales throughout several market cycles. Before that, Martin was senior vice president of institutional sales at Putnam Investments where he managed the institutional book of business. He has held a range of leadership roles in marketing, business development and investment business management.
Martin holds a BA in political science from the Australian National University and a graduate diploma from Financial Services Institute of Australasia (FINSIA). He is also a Fellow of FINSIA.
Mr. Thomas CHEONG
Executive Vice President & President of Asia Pacific and Middle EastPrincipal Financial Group
Cheong joined Principal in January 2015 and has more than 20 years of management experience in Asia, holding various senior management positions with profit and loss responsibilities. His extensive experience in the asset management, pension, and life insurance businesses included appointments as president of North Asia for Principal International; CEO and executive director of Manulife Asset Management (Taiwan); country head overseeing Manulife's joint venture asset management business in mainland China; CEO of the Prudential UK's China and Malaysia asset management companies, and the director of corporate development in Prudential UK's Singapore life insurance business.
Cheong received his bachelor’s degree in econometrics, with first class honours, from the London School of Economics. He obtained an MBA from the Olin Business School of Washington University in St. Louis (WUSTL) and inducted to Beta Gamma Sigma Honorary Business School Society. Cheong is currently a member of WUSTL’s Alumni Board of Governors, as well as its regional advisory council (Hong Kong).
Ms. Chamanun Netrabukkana
Senior Director of the Insurance Business Analysis GroupOffice of Insurance Commission, Thailand
Earlier in her career, she worked as a Government Officer in the Office of Intellectual Property Suppression within the Department of Intellectual Property, where she played a key role in enforcing intellectual property rights.
Chamanun holds a Master’s Degree in Business Administration and a Bachelor’s Degree in Economics, equipping her with a strong foundation in both business strategy and economic principles.
Dr. Simon LEE
Director of AI and Emerging TechnologiesAIA Group
Simon is deeply passionate about leveraging AI to drive positive change and is excited to harness generative AI to achieve AIA’s strategic goals.
Asia’s insurers’ triple role in the net zero transition - resilient investor, risk-taker, responsible company
- Insurers are long-term investors who decide who (e.g. GreenTech firms) and what (e.g. innovative carbon capture and storage technologies) receives funding, a force to be reckoned with as insurers hold a significant portion of global assets and liabilities on their balance sheets, writing more than USD 6 trillion in premiums globally and holding USD 36 trillion in Assets under Management (AuM).
- Insurers are masters of risk management and as risk-takers and underwriters decide what risks (e.g. natural catastrophes) get insurance cover. Insurers are well-positioned to advise clients as a trusted risk partner leveraging actuarial capabilities and bespoke data-driven models at their disposal to create innovative risk products and services to help risk prevention, risk mitigation, and risk management.
- Insurers are also responsible companies directly employing millions of employees across the insurance value chain from tied agents managing client relationships to actuaries who price products and underwrite policies, but indirectly influencing external parties such as bancassurance partners and the local communities they do business in.
Creating a Sustainable Healthcare system
From the session, the audience will gain insights into
- what it means to be a sustainable healthcare system and what it takes to get there
- the key challenges of creating sustainable healthcare financing
- Value-Based Care and the Difference between Pay for Service versus Pay for Outcome
- How data and insurtech can help improve product innovation
- how healthcare providers can share the risks
- government interventions and public polices to enhance sustainability
- opportunities for actuaries to drive the development of a sustainable healthcare system
Expanding the Actuarial Horizon - International Developments of Actuarial Talent
Whether looking at the next two years or the next twenty, one thing is certain: the future will look different from today. And numerous surveys from actuarial consultancies, professional bodies, and the International Association of Actuaries’ Future Actuary Taskforce all highlight the continued importance of actuaries in business strategy, regulatory reforms in financial services, and societal well-being.
In this panel discussion, four senior leaders of the actuarial profession will explore strategies to enhance the actuarial skill set, ensuring actuaries remain at the forefront of industry developments. Key topics will include the integration of holistic skills—such as advanced data analytics, strategic thinking, and interdisciplinary collaboration—into the actuarial toolkit.
The panel will also discuss specific initiatives to broaden the scope of actuarial roles into emerging sectors, such as climate risk and technology. Additionally, they will explore how to engage students and industry gatekeepers by emphasizing the societal impact and innovative aspects of actuarial work. The future is to attract a new generation of talent by showcasing the diverse and meaningful opportunities within the field.
Talent strategies for the fast-evolving industry landscape
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Time Duration Ballroom 1&2 18:00-20:00 02:00 Welcome Cocktail Reception -
(14.5hrs CPD + 1hr Professionalism CPD)
Time Duration Ballroom 1&2 Ballroom 3 Ballroom 5 09:00-10:30 01:10 Opening Ceremony 10:30-10:55 00:25 Networking break 10:55-12:15 00:30 Panel: Insights from Regional CEOs
Mr. Mark VT SAUNDERS, FASHK [moderator]
Senior Advisor, Blackstone Inc.
INED Board Member, Prudential plc
Council & Co-Chair Strategy Committee, ASHK12:15-13:35 01:30 Lunch 13:35-14:45 00:45 Panel: Technology as key driver of the future of insurance 14:45-15:10 00:45 Networking break 15:10-16:00 2 Panel: Investment Strategies for Insurers Panel: A World of Change & Uncertainty - How can actuaries stay relevant and add value Panel: Retirement Solutions 00:25 Ms. Trinity PONG FASHK
[moderator]
General Insurance Committee Chairperson
Actuarial Society of Hong KongMr. Thomas CHEONG
Executive Vice President & President of Asia Pacific and Middle East
Principal Financial GroupMs. Zita CHUNG, FASHK
[moderator]
Pension & Employee Benefits Committee Co-Chairperson
Actuarial Society of Hong Kong16:00-16:30 01:15 Optimise Matching Adjustment Spread - A Role of Asset Manager
Jian XIONG
abrdn InvestmentsClimate Risks - Going Beyond Simplistic Approaches
Christopher AU
WTWBridging the Retirement Protection Gap - An International Study of Retirement Schemes and Innovations in Public and Private Sector Solutions
Joey ZHOU
Nanyang Technological University16:30-17:00 01:15 Managing an economic balance sheet in Asia using more advanced ALM and hedging strategies
Clement BONNET, FASHK
MillimanMotor Insurance - The Unfinished Journey
Geoffrey WARNER
Werner AdvisoryRetirement in Japan - Overview and Recent Trends
Fongnei CHAN
Gallagher Re17:15-18:45 01:30 Pre-dinner Cocktail 19:00-21:30 02:30 Gala Dinner -
(6.5hrs CPD)
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(2.5hrs CPD + 1hr Professionalism CPD)
Time Duration Ballroom 1&2 Ballroom 3 Ballroom 5 09:00-10:00 Panel: Talent strategies for the fast-evolving industry landscape Panel: Emerging technologies and applications - views from reinsurers Panel: Embracing Innovation and Technology to address new risks and business trends 00:45 Ms. Carmony WONG
Senior Vice President, Southeast Asia Markets & Chief Executive Officer, Hong Kong
RGAMs. Rebecca ZHANG, FASHK
Head of Regional Partnerships, Innovation and Product Development, Fast Growth Markets
SCORMr. Nick VAN DER NEST
Chief Propositions Officer
Life & Health Propositions Studio
Asia Pacific, Middle East and Africa
Munich Re Hong KongMr. Sean DEEHAN, FASHK
[moderator]
Pension & Employee Benefits Committee Co-Chairperson
Actuarial Society of Hong Kong10:00-10:30 00:30 Actuaries Putting Al into Practice in General Insurance
David CUMMINGS
USAA & CASTransforming Insurance: The Role of Al in Modernizing Actuarial Practices
Jiangang HE
Aixuan ITDigital Transformation Trends
Manan SHARMA
FIS10:30-10:55 01:15 Networking break 10:55-11:25 Fireside Chat 11:30-12:30 01:30 Panel: Professionalism 12:30-12:45 04:00 Closing Ceremony 12:45-14:00 Lunch 14:00-17:00 Local excursion (optional)