Webinar: Climate change risk scenarios in the ORSA

Event Type
Web Session
Date
Time

Start time: 12.00 pm

End time: 1.10 pm

Venue
Online
Description

 

***Please note that this presentation will not be recorded / posted to actuview***

 

This event will be run as a live webinar using Zoom. Click here for information on using Zoom.

The webinar will be in the form of a roundtable discussion. The subject of the webinar is “Climate change risk in the ORSA”, on how insurers and pension funds can integrate climate change risk in their ORSA, governance and risk-management systems.

On the 5th of October 2020, EIOPA published a consultation paper on the use of climate change risk scenarios in the Own Risk and Solvency Assessment (ORSA) in the form of a draft supervisory Opinion. The final opinion was published on the 19th April 2021. In this session, Francis Furey and Frans Kuys will update members on the key EIOPA recommendations and final opinion, whilst one of EIOPA’s leading experts on Climate change Dr. Marie Scholer will give further insights on the opinion and likely next steps.

The target audience for this webinar is people working within the insurance and pensions industries. i.e., actuaries, risk managers, finance function etc.

The following topics will be covered:

  • Drivers of this change and challenges
  • Climate risk identification
  • Mapping of climate change risks to traditional prudential risks
  • Definition of scenarios
  • Modelling of risks
  • Practical example
  • Q&A

NB: As a security measure, there is a two-step registration process before you receive the link to join any webinar.  The first step is to register your interest in attending a webinar by making a reservation for an event via the Society’s website.  You will receive a link to then register via the Zoom platform.  It is after this second registration step that you will receive the link to join the webinar.

Speakers/Presenters
Francis Furey FSAI, Frans Kuys and Dr. Marie Scholer
Biographical details

The presentation will be given by Finalyse with insights from Dr. Marie Scholer who is an expert in policy sustainable finance with EIOPA.

Francis Furey:

Francis Furey is a qualified actuary with over 13 years of working experience within the life and non-life (re)insurance industry. He is a subject matter expert in the areas of Financial Reporting (MCEV, IFRS17, US GAAP) and Prudential Regulation (Solvency II, BMA, ICS). His range of practical work experience includes working in the life insurance industry in a financial reporting and capital modelling capacity with extensive exposure to domestic and international clients with a keen eye on new regulatory developments. Francis is a member of Finalyse’s Task Force on Climate Change Risk Management.

Frans Kuys:

Frans Kuys is a qualified actuary and Financial Risk Manager with significant international experience and has worked across a wide range of fields in the actuarial industry. He has acquired extensive knowledge in the pensions and insurance sectors and has over 13 years of experience in actuarial valuations, financial reporting, risk management, asset-liability modelling (ALM) and investment consulting. Frans is a member of Finalyse’s Task Force on Climate Change Risk Management.

Dr. Marie Scholer:

Dr. Marie Scholer Mendez joined EIOPA in April 2019 as an Expert on Policy Sustainable Finance. In this function, besides coordinating the Cat Expert Risk group, she actively participates in EIOPA’s work on sustainable finance. Prior to EIOPA, Mrs. Scholer worked for the reinsurance sector at R+V Re in Germany as a Risk Controlling Actuary as well as for the insurance sector at Zurich Insurance in Switzerland as a Senior Catastrophe Modeller. She has also extensive knowledge in natural catastrophe models as she worked for a catastrophe model vendor (Risk Management Solutions (RMS)) and holds a PhD in geophysics from the University of Lausanne.

Finalyse:

Finalyse is a Europe-wide leading consultancy founded in 1988 with 6 office locations throughout Europe including Amsterdam, Brussels, Budapest, Dublin, Warsaw and Luxembourg. Finalyse specialises in providing risk advisory, compliance and valuation services for banks, insurance companies and pension schemes with 65 key accounts including major European financial institutions.

Deep Dive: This is a Deep Dive Event.