Insurers and Regulators Sharpen Their Response to Rising Environmental Risks
Join us to discuss the key challenges facing insurers as they respond to climate risk and the evolving regulatory approach
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Rating agency view: Moody’s Brandan Holmes will first explore some of the environmental risks facing insurers, the evolving regulatory response, and set out how these are reflected in credit ratings.
Leader’s discussion: Moody’s Cassandra Hannibal will then discuss with Aage E. Schaanning, Chief Financial Officer at KLP, how financial risk assessments of the key climate change risks faced by insurers are being incorporated into decision making and financial reporting, the challenges insurers are facing with climate scenario stress testing and analysis and opportunities they are finding to incorporate ESG into their businesses.
Agenda shown in BST.
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Agenda
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09:15
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09:20
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09:35
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10:00
Q&A
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10:10
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10:15
End
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SpeakersSimon Ainsworth Associate Managing Director Moody's Investors Service
Cassandra Hannibal FIA CERA Director-Research Moody's Analytics
Brandan Holmes Vice President - Senior Credit Officer, Financial Institutions Group Moody's Investors Service
Aage Schaanning Chief Financial Officer KLP Group
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Simon Ainsworth, who is based in London, is an Associate Managing Director responsible for the analytical teams maintaining ratings on Nordic and Baltic banks and on a range of European insurance companies.
Simon previously served as a Group Credit Officer. In that role he carried responsibility for monitoring ratings quality as well as assisting in the development and implementation of rating methodologies and practices applied to rated financial institutions within the EMEA region.
Simon joined Moody’s in March 2014 following sixteen years at the Bank of England.
At the Bank, he worked in a variety of roles primarily in its financial markets and banking operation divisions; as well as working on a variety of financial risk and crisis related issues. This included the resolution of failed banks, as well as responsibility for the risk management framework applied to collateral accepted in the Bank’s sterling market operations.Simon graduated from the University of Durham in 1998, having studied Economics and Politics. He is based in London.
Brandan is a Vice President – Senior Credit Officer in the EMEA Insurance Team, with analytical responsibility for a range of (re)insurance ratings across the EMEA region.
Brandan joined Moody’s New York office in 2010, as an analyst responsible for a diverse portfolio of US insurance and reinsurance companies. Prior to joining Moody’s, he was Assured Guaranty Ltd., responsible for accounting policy and transaction advisory services. Brandan started his career with PricewaterhouseCoopers in South Africa, later transferring to the New York office where he was a manager in the Assurance practice, primarily responsible for the audits of life insurance companies. Brandan holds a Bachelor’s degree in accounting from the University of Pretoria and a MBA in finance from New York University’s Stern School of Business. He is a Chartered Accountant (SA) and a Certified Public Accountant (NY).
Cassandra is a Director in Moody’s Analytics Insurance Research team, where she focuses on reporting, risk and capital analytics for insurance companies. Cassandra has many years of experience in the insurance industry from previous roles at PwC, Aviva and Partnership spanning audit, financial reporting, risk management, financial modelling, economic capital and Solvency II.
Cassandra joined Moody’s Analytics in 2017 and produced several papers on the challenges insurers may face implementing IFRS 17. Her most recent research is focussed on climate change risk for insurers.
Cassandra is a Fellow of the Institute & Faculty of Actuaries (FIA) and a Chartered Enterprise Risk Actuary (CERA). She holds a BSc in Mathematics and Economics from the London School of Economics.
Aage Schaanning has a MBA from the University of Colorado at Boukder and is a Certified European Financial Analyst. He has previously worked as a Treasurer in BNbank and as a portfolio manager in Kreditkassen before starting at KLP in 2001 as Investment Director at KLP Asset Management. He headed KLP Asst Management in the period 2006-2008. Since then he has been the CFO of KLP Group.
Simon Ainsworth, who is based in London, is an Associate Managing Director responsible for the analytical teams maintaining ratings on Nordic and Baltic banks and on a range of European insurance companies.
Simon previously served as a Group Credit Officer. In that role he carried responsibility for monitoring ratings quality as well as assisting in the development and implementation of rating methodologies and practices applied to rated financial institutions within the EMEA region.
Simon joined Moody’s in March 2014 following sixteen years at the Bank of England.
At the Bank, he worked in a variety of roles primarily in its financial markets and banking operation divisions; as well as working on a variety of financial risk and crisis related issues. This included the resolution of failed banks, as well as responsibility for the risk management framework applied to collateral accepted in the Bank’s sterling market operations.Simon graduated from the University of Durham in 1998, having studied Economics and Politics. He is based in London.
Simon Ainsworth, who is based in London, is an Associate Managing Director responsible for the analytical teams maintaining ratings on Nordic and Baltic banks and on a range of European insurance companies.
Simon previously served as a Group Credit Officer. In that role he carried responsibility for monitoring ratings quality as well as assisting in the development and implementation of rating methodologies and practices applied to rated financial institutions within the EMEA region.
Simon joined Moody’s in March 2014 following sixteen years at the Bank of England.
At the Bank, he worked in a variety of roles primarily in its financial markets and banking operation divisions; as well as working on a variety of financial risk and crisis related issues. This included the resolution of failed banks, as well as responsibility for the risk management framework applied to collateral accepted in the Bank’s sterling market operations. Simon graduated from the University of Durham in 1998, having studied Economics and Politics. He is based in London.
Cassandra is a Director in Moody’s Analytics Insurance Research team, where she focuses on reporting, risk and capital analytics for insurance companies. Cassandra has many years of experience in the insurance industry from previous roles at PwC, Aviva and Partnership spanning audit, financial reporting, risk management, financial modelling, economic capital and Solvency II.
Cassandra joined Moody’s Analytics in 2017 and produced several papers on the challenges insurers may face implementing IFRS 17. Her most recent research is focussed on climate change risk for insurers.
Cassandra is a Fellow of the Institute & Faculty of Actuaries (FIA) and a Chartered Enterprise Risk Actuary (CERA). She holds a BSc in Mathematics and Economics from the London School of Economics.
Brandan is a Vice President – Senior Credit Officer in the EMEA Insurance Team, with analytical responsibility for a range of (re)insurance ratings across the EMEA region.
Brandan joined Moody’s New York office in 2010, as an analyst responsible for a diverse portfolio of US insurance and reinsurance companies. Prior to joining Moody’s, he was Assured Guaranty Ltd., responsible for accounting policy and transaction advisory services. Brandan started his career with PricewaterhouseCoopers in South Africa, later transferring to the New York office where he was a manager in the Assurance practice, primarily responsible for the audits of life insurance companies. Brandan holds a Bachelor’s degree in accounting from the University of Pretoria and a MBA in finance from New York University’s Stern School of Business. He is a Chartered Accountant (SA) and a Certified Public Accountant (NY).
Aage Schaanning has a MBA from the University of Colorado at Boukder and is a Certified European Financial Analyst. He has previously worked as a Treasurer in BNbank and as a portfolio manager in Kreditkassen before starting at KLP in 2001 as Investment Director at KLP Asset Management. He headed KLP Asst Management in the period 2006-2008. Since then he has been the CFO of KLP Group.