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European Risk Management Seminar 2020

Insurance had been a cheap and efficient risk management tool for almost 20 years, but the market was already consolidating and hardening before the pandemic. Today, there is even less certainty. Alternative ways of financing risks are back on the radar, very often for risks or exposures for which they weren’t cost-effective in the past.

Risk managers have to go back to the basics of risk financing and review potential solutions and techniques. What are these other solutions? How do they work? For what exposures are they useful? What roles can a captive play?

  • Alternative risk transfer (ART) and financial solutions
    • Financial markets: cat bonds, collateralized reinsurance, insurance linked securities, sidecars
    • Weather and other parametric derivatives
    • Structured (re)insurance
    • Others
  • Captives
    • Rationales for a captive
    • Requirements for a captive
    • Rent-a-captive solutions

KEY EDUCATIONAL MESSAGE

In this session, we will describe alternatives to traditional insurance markets for risk transfer and finance. Risk managers will learn more about sophisticated approaches that are increasingly available for corporates, plus practical tips for the success of their projects and problems solving.

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Speakers on stage

  • Karsten Berlage

    Regional Head Americas for the Alternative Risk Transfer (ART)
    Allianz Global Corporate and Specialty

    Mr. Berlage is an executive at Allianz Global Corporate & Specialty in New York, NY where he is the Regional Head Americas for the Alternative Risk Transfer (ART) business.  He provides clients with innovative, structured insurance with a focus on parametric index solutions to renewable energy clients.

    Prior to joining Allianz, he worked at UBS Investment Bank in the structured finance area, responsible for securitization, lease and project finance and building an insurance linked markets business. Overall, he has over 20 years of experience as an executive in financial institutions in New York and Zurich raising over $10 billion financings for clients in various industry sectors and winning multiple industry awards for innovative financing and risk transfer solutions.

    Mr. Berlage has business and law degrees from the University of Konstanz, Germany, Zurich University, Switzerland, and Fordham Law School, New York, NY.

  • Matthew Latham

    Head of Global Programs and Captives
    AXA XL

    Matthew is Head of Global Programs and Captives at AXA XL, a division of AXA. In this role he is responsible for growing AXA XL’s global programs and captive fronting business and for ensuring that clients get a high-quality level of service. His remit is global and involves working with underwriters across all classes of risk.

    Before joining XL Catlin, now part of AXA XL, in 2014, Matthew spent 9 years at AIG. His roles there included leading AIG’s alternative risk financing team, which focused on providing solutions for risks that were new or difficult to insure, typically in partnership with a client’s captive. Prior to AIG, he was an ART underwriter at ACE and held a variety of roles at Willis including ART broking and captive consultancy. Matthew has been in the insurance industry for over 25 years and is an Associate of the Chartered Insurance Institute and holds an MBA from Cass Business school in London.

  • Bart Smets

    Head of Insurance and Risk Department
    Umicore

    After graduation from the Brussels University as Master in Law, Bart started to work as an insurance broker for a former Fortis company (Afidif). He then spent about 15 years of his career as an international insurance broker with companies like Willis Towers Watson and Van Breda Risk and benefits, during which time he obtained a Master in Insurance and Risk Management from the University of Leuven.

    In 2012, he became Global Risk and Insurance Manager for Eurofins SE, an international life sciences company which provides analytical testing services across multiple industries.

    Since May 2017, Bart is heading the Insurance and Risk department at Umicore, a global materials technology and recycling group.

  • Stéphane Yvon

    Insurance and Personal Insurance Policy Director
    EDF

    After more than 10 years in the reinsurance industry Stéphane YVON joined EDF in 2003 where he has been in charge of the Group captives, the interests of EDF in mutuals, and ART solutions including CAT Bonds and ILS.

    He has also been appointed in 2018 as Head of Employee Benefits.