WELCOME TO THE ANNUAL MEETING OF 2019 MACAO
The Monetary Authority of Macao (AMCM) hosted “The 14th Annual Meeting and Conference of the Asian Forum of Insurance Regulators (AFIR)” in Macao during 22-23 May 2019. Delegates from the insurance regulators in Asia and Oceania exchanged their views and shared their experiences on the theme of “Promoting Broader and Sustainable Insurance Market with Effective Supervisory Practices”....
ANNUAL MEETING VIDEO
- 22 May 2019
- Registration08.30 a.m. – 09.00 a.m.
- Welcome Remarks by Dr. Chan Sau San, Chairman of the Board of Directors, Monetary Authority of Macao09.00 a.m. – 09.10 a.m.
- Opening Remarks by Mr. Clement Cheung, AFIR Chairman and Chief Executive Officer, Insurance Authority, Hong Kong Special Administrative Region09.10 a.m. – 09.20 a.m.
- Group Photo09.20 a.m. – 09.30 a.m.
- Session 1 – Strategic Direction of the IAIS for 2020 – 2024
Speaker: Mr. Conor Donaldson, Secretariat, International Association of Insurance Supervisors09.30 a.m. – 09.50 a.m.
- Session 2 - What Protection Gap Would Mean to the Regulators and the Insurance Industry
Speaker: Ms. Hannah Grant, Head of Secretariat, Access to Insurance Initiative09.50 a.m. – 10.30 a.m.
- Session 3 – Regulation and Supervision Supporting Inclusive Insurance
Inclusive insurance can help insurers getting access to and providing appropriate insurance coverage to protect the unserved and underserved populations against risks. Accessing this segment is important in closing the protection gap. This session focused on how regulators could support inclusive insurance and create a regulatory environment that promoted the development of inclusive insurance markets.
Keynote Speaker: Ms. Chiew Hui Lin, Advisor, Access to Insurance Initiative
Moderator: Ms. Hannah Grant, Head of Secretariat, Access to Insurance Initiative
1.Ms. Lau Chin Ching, Director, Insurance Development Department, Bank Negara Malaysia
2.Mr. Thomas Tien-Mu Huang, Vice Chairperson, Financial Supervisory Commission, Chinese Taipei
Mr. SuthiphonThaveechaiyagarn, Secretary- General, Office of Insurance Commission, Thailand10.50 a.m. – 12.20 p.m.
- Lunch (Chinese menu at Lily Function Room)12.20 p.m. – 13.50 p.m.
- Session 4 – New Challenge for Insurance Supervisors: Moving Target in a Fast Moving Environment
Speaker: Mr. Yoshihiro Kawai, Chair of the Insurance and Private Pensions Committee, the Organisation for Economic Co-operation and Development & Advisor to the Commissioner, Financial Services Agency, Government of Japan13.50 p.m. – 14.30 p.m.
- Tea break14.30 p.m. – 14.50 p.m.
- Session 5 – Supervisory Responses to Climate Change and Catastrophe Risks
The Asian region faces increased exposure to climate change and catastrophic events, which creates substantial risks to the insurers and the insurance industry. Protection gap exists when the level of insurance protection for the financial losses from climate change and catastrophic events remains under-covered. This session focused on climate change 14.50 p.m. – 16.20 p.m.
- and catastrophe risks faced by the insurance sector in different jurisdictions. Panelists discussed the approaches to addressing the challenges presented by climate and catastrophe risks and to narrowing the protection gap of climate change and catastrophic events.
Moderator: Mr. Raymond Tam, Executive Director, Policy and Development Division, Insurance Authority, Hong Kong Special Administrative Region
1.Mr. Daniel Wang, Executive Director, Insurance Department, Monetary Authority of Singapore
2.Mr. Peter Kohlhagen, Senior Manager, Policy Development – Insurance, Australian Prudential Regulation Authority
3.Mr. Wilson Vong, Executive Director, Monetary Authority of Macao
Mr. Yoshihiro Kawai, Chair of the Insurance and Private Pensions Committee, the Organisation for Economic Co-operation and Development & Advisor to the Commissioner, Financial Services Agency, Government of Japan 16.20 p.m. – 00.00 a.m.
- 23 May 2019
- Registration08.30 a.m. – 09.00 a.m.
- Session 6 - Presentation by an Insurtech company
Speaker: Mr. Michael Chan, Co-founder and Co-CEO, Bowtie Life Insurance Company Limited09.30 a.m. – 09.45 a.m.
- Session 7 – Insurtech Development and Supervision
Technologies have opened up potential to advance the insurance industry and deliver sustainable development. How can regulators strike a sensible and pragmatic balance between protection of policyholders and promotion of financial inclusion through innovation? This session focused on the trends of Insurtech development and regulations in different jurisdictions as well as Insurtech in a time of greater financial inclusion.
Moderator: Mr. Hiroshi Ota, Deputy Commissioner for International Affairs, Financial Services Agency, Government of Japan
1.Mr. Clement Cheung, Chief Executive Officer, Insurance Authority, Hong Kong Special Administrative Region
2.Mr. Conor Donaldson, Secretariat, International Association of Insurance Supervisors
3.Mr. Michael F. Consedine, CEO, National Association of Insurance Commissioners
Mr. Randip Singh Jagpal, Chief General Manager, Insurance Regulatory and Development Authority of India09.45 a.m. – 11.05 a.m.
- Tea break11.05 a.m. – 11.25 a.m.
- Lunch (Western menu at Splash)12.35 p.m. – 14.00 p.m.
- Session 8 (continued) - Tour de Table of Developments in Jurisdictions14.00 p.m. – 15.10 p.m.
- Tea break15.10 p.m. – 15.25 p.m.
- Session 9 – The 3rd AFIR General Members Meeting
(Chaired by Mr. Clement Cheung, AFIR Chairman and Chief Executive Officer, Insurance Authority, Hong Kong Special Administrative Region)15.25 p.m. – 16.55 p.m.
- Closing Remarks by Mr. Wilson Vong, Executive Director, Monetary Authority of Macao16.55 p.m. – 17.00 p.m.
- Gala Dinner (Executive Club Level 20, Four Seasons Hotel)18.30 p.m. – 00.00 a.m.
- 03 Nov 2019
- Session 8 - Tour de Table of Developments in Jurisdictions11.25 a.m. – 12.35 p.m.