C-ROSS FORUM: The upcoming regulatory change in China - the Second Generation Solvency Regime

08 - 09 Dec 2014

Organised by Swiss Re Centre for Global Dialogue
Location: Rüschlikon/Zurich, Switzerland

Press release

Press release English

Press release Chinese

About the event

China is one of the fastest growing insurance markets in the world. China Risk Oriented Solvency System (C-ROSS), slated to be introduced in 2015, is the second generation of solvency regime for the insurance industry in the country. It introduces risk based solvency regulation to the Chinese regulatory framework for the first time. Designed to meet the needs of the Chinese insurance market, it may also provide a framework for other developing insurance markets in Asia and the rest of the world as they develop their insurance regulatory schemes.

The Swiss Re Centre for Global Dialogue will publish a Risk Dialogue Magazine on C-ROSS in December 2014 which seeks to bring international attention to this important development for the global insurance industry. The Swiss Re Centre for Global Dialogue will also host an event with senior officials from the China Insurance Regulatory Commission (CIRC) and some of the authors of articles featured in the magazine on 9 December 2014. Attendees at the event will include European insurance and financial services sector regulatory officials, insurance industry executives, insurance institutions, academicians and other thought leaders and decision makers in the insurance industry.

Take advantage of this unique opportunity to join the dialogue with CIRC and other key stakeholders on C-ROSS and its impact on both the domestic Chinese and international re/insurance industry.

Agenda and PDFs

 

8 December 2014

19.00

Informal get together
Dinner Buffet 

 

9 December 2014

10.00

Opening
Qin Lu, Head China, Swiss Re

10.10

Global Regulatory Trends in the financial services industry
Patrick Raaflaub, Group CRO, Swiss Re

10.40

C-ROSS, the new China Solvency Regime
Yulong ZHAO, Deputy Director General, Finance and Accounting Department of CIRC

11.30

Q&A – how C-ROSS would affect insurance industry in and outside of China
Yulong ZHAO, Deputy Director General, Finance and Accounting Department of CIRC

12.30

Group Photo

12.45

Lunch

13.45

Balanced capital and liquidity management under changing regulatory environment
Gerhard Lohmann, CFO Reinsurance, Swiss Re

14.15

The C-ROSS and Insurer Operations in China and Abroad
Prof. W. Jean Kwon, E.A.G. Manton Chairholder in International Insurance and Director of the Centre for the Study of Insurance Regulation, the School of Risk Management, St. John's University

14.45

New solvency regime from a rating agency's point of view
Dennis Sugrue, Director and Reinsurance Sector Specialist for EMEA Financial Services Group, Standard & Poor's Rating Services

15.15

The implications to China insurance industry under C-ROSS
Qing Zhang, CRO and head of reinsurance of PICC Property and Casualty Company Limited

15.45

Break

16.15

View Exchange
Qin Lu, Head China, Swiss Re

17.00

End

Speakers

Gallery

Photos by Stephan Tuor

Summary

In opening the event, Qin Lu, Head of Swiss Re China, placed the upcoming Chinese solvency regime changes in the context of global regulatory trends. The State Council’s announcement of ten policy priorities (the State Ten Opinions) this year essentially draws up the blueprint for the future development of the Chinese insurance industry and its adaptation to a risk-based solvency system.

To read the entire summary, click here