Managing risk accumulations - what are the lessons to be learned from Tianjin?
In this IIL reinsurance lecture Jens-Ulrich Peter outlined how risk accumulations can be better managed. In his lecture, Jens evaluated the recent Tianjin experience and concluded that some regulatory requirements and best practices indicate some opportunities for improvement.
As part of their Solvency II or Enterprise Risk Management activities insurers put more emphasis on risk identification, assessment, monitoring, and reporting. Particularly, some companies have already introduced some frameworks and processes to better understand and manage their risk accumulations.
The Tianjin experience puts a spotlight on such risk accumulations and their controls in areas of high value concentration such as major trading hubs or industrial parks. Jens concluded that it offered some lessons to be learned for the industry and to reflect on what we should do differently going forward.
By the end of this lecture members would have gained an insight into:
- Some facts and surprises of the Tianjin loss
- Post accumulation management requirements and best practice
- What should we as an industry do differently going forward?
Jens-Ulrich has been with Swiss Re for more than 10 years having joint when the company acquired GE Insurance Solutions in 2006. He has held a variety of different roles in reinsurance underwriting and sales. In July 2014 Jens-Ulrich was appointed as Head Property Underwriting EMEA.
David Flandro, Global Head of Analysis, JLT Re.
Registration & Security
IIL lectures are open to CII and PFS members
CII and PFS members must register online by 12pm one working day before the lecture
For lectures held in The Old Library, Lloyd's pass holders may also attend and do not need to register
All attendees (at any venue) must produce photo ID - either a Lloyd's pass, driving licence with photo or valid passport
- Email confirmations and photo ID must be produced to security staff at the lecture venue
- Attendance confirmations are non-transferable to any other person or lecture
- All venues have limited capacity and registration and/or a Lloyd's pass does not guarantee admission
Please let us know what we can do to make our events fully accessible to you.
Please contact Patricia Pedraza (020 7397 3911) with any queries regarding the CPD events programme.
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
3/4 hours' CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.