Finance Forum – Insurance Regulatory and Supervisory Developments – the International Perspective

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Date/Time

Date(s) - 07/06/10
5:30pm - 7:00pm

Location

RMIT University
cnr Russell and Latrobe Streets


About the Seminar:
With an international accounting standard for insurance still to be finalised and given the exposure of the reinsurance market to the GFC and to climate events, Craig’s work is pivotal. Discussion at the seminar will include the standard setting agenda, implementation initiatives and projects, and range from accounting and solvency standards to efforts to improve access to insurance in emerging markets.

As an active participant Craig will provide an Australian’s perspective on the latest insurance regulatory and supervisory developments affecting organisations around the globe. He will discuss developments at the IAIS level (Craig is on the Technical Committee as the World Bank representative), the G20 and the Financial Stability Board.

Craig will also address market development indicators in the Asia-Pacific region.

About the Speaker
Since 2002, Craig has been a Senior Specialist at the World Bank. In his current role he coordinates the financial systems oversight team within the Bank covering relations with standard setting bodies, technical assistance, and program development in banking and insurance sectors. His direct technical assistance work program concentrates on insurance market development, regulation and supervisory capacity building. Additionally, he has participated in numerous Financial Sector Assessment Program (FSAP) missions jointly with the IMF, which are designed increase the soundness of financial systems in member countries. He has written a number of papers and books on insurance supervision and pension and insurance market development particularly regarding competition and concentration issues, solvency, resolution and wind up policy, and retirement income products.

Before joining the World Bank, he was a senior supervisor having joined the public service as Australian Government Actuary in 1996, Chief of Life Insurance Supervision in 1998, and a senior supervisor of financial conglomerates from 1999. As such, he has direct experience supervising banks, insurers, pension funds, and financial groups as well as experience in integration of financial supervisors.

Craig is a former chair of the International Association of Insurance Supervisors (IAIS) Sub Committee on Solvency and continues to participate in IAIS groups. Prior to joining the public sector, Craig held a number of positions in the private sector with a bancassurance group. He qualified as an actuary in 1987 and is a member of both Australian and North American Actuarial Associations.

Sponsored by: Suncorp


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