The 3rd International Longevity Risk and Capital Market Solutions Symposium

Agenda

The Third International Longevity Risk and Capital Market Solutions Symposium

Lead Sponsor: Allianz Global Investor

Date：July 20-21, 2007 Venue: Westin Hotel, Taipei

Tentative Conference Schedule
(The Presentation is available to be downloaded)

Date 1: July 20, Friday

Time	Content	Speaker
8:40 – 9:00	Opening Remarks	Welcome Remark from NCCU:Dean Edward Chow Organizers' Welcome Address: Richard MacMinn & David Blake Welcome Remark from Finance Minister of Taiwan: Henry Ho In Appreciation of Sponsors: Chairman JJ Lin
Opening Keynote Speech Section 1: Longevity Risk and Capital Market Solutions
9:00 – 9:50 (50 minutes)	Longevity Risk and Capital Market Solutions Recent Developments (The document is not available)		David Blake ( Pensions Institute, U.K.)
9:50 – 10:40 (50 minutes)	The Inversion of Age Distribution and Longevity Risk		Shripad Tuljapurka (Stanford University, U.S.A)
10:40 – 11:00 (20 minutes)	Coffee Break
Plenary Section 2: Securitization and Pricing of Longevity Risk
11:00 – 11:30 (30 minutes)	The Securitization of Longevity Risk: the Market Solution and Development		Sam Cox (University of Manitoba, Canada)
11:30 – 12:00 (30 minutes)	Pricing and Implementation of Longevity Bonds in Taiwan		Jennifer Wang & Sharon Yang (National Chengchi University, Taiwan)
12:00 – 13:30 (90 minutes)	Welcome Lunch (sponsored by Cathay Life Insurance Company)
Plenary Section 3: Hedging Longevity Risk
13:30 – 14:00 (30 minutes)	Hedging Longevity Risk in Pension Plans and Market Solutions		Guy Coughlan (JP Morgan, U.K.)
14:00 – 14:30 (30 minutes)	The Implications of Longevity Risk to Life Insurance Companies and Market Solutions		Pascal Schoenmaekers （Munich Re, Germany)
14:30 – 14:40	Coffee Break
14:40 – 15:10 (30 minutes)	The Effect of Demographic and Longevity Changes on Retirement Income Product Evolution (The document is not available)		Timothy Schiltz (AIG Financial Groups, Japan)
15:10 – 15:40 (30 minutes)	The Role and Perspective of Asset Managers in Retirement Market (The document is not available)		James S. Hwang (Franklin Templeton First Taiwan SITE)
15:40 – 15:50	Coffee Break
Plenary Section 4: Round Table Discussion
15:50 – 17:00 (70 minutes)	Moderator: Richard MacMinn (Illinois State University, U.S.A.) Speakers : David Blake (Pensions Institute, Cass Business School, U.K.) Guy Coughlan (JP Morgan, U.K.) Pascal Schoenmaekers (Munich Re, Germany) Timothy Schiltz (AIG Financial Groups, Japan) Wolfgang Mander (Allianz Global Investor, Taiwan Ltd., Taiwan) Bill Chang (Financial Supervision Commissioner, Taiwan) Shean-Bii Chiu (Pension Fund Association, Taiwan)

Date 2: July 21, Saturday

Time	Content		Presenter
Plenary Section 5: Financial Innovations
9:00 – 9:50 (50 minutes)	Financial Innovations for Hedging Longevity Risk		Michael Sherris (University of New South Wales, Australia)
9:50 – 10:40 (50 minutes)	The House as a Retirement Asset		Anthony Webb （Boston College, U.S.A.）
10:40 – 11:00	Coffee Break
Plenary Section 6: The Implementation of Hedging and Market Experience
11:00 – 11:30 (30 minutes)	Approaching the Longevity Problem from an Investment Perspective			Wolfgang Mader (Allianz Global Investors Taiwan Ltd.)
11:30 – 12:00 (30 minutes)	Best Efforts Solutions for Longevity Risk Management			John D. Curry (AllianceBernstein Taiwan Ltd., Taiwan)
12:10 – 13:30	Luncheon (sponsored by Franklin Templeton Investment Group)
Plenary Section 7: The Implementation of Hedging and Capital Market Solutions
13:30 – 15:00 (90 minutes)	Section 7-1
	1. The Distribution of Future Annuity Prices under Interest-Rate and Longevity Risks: David Blake (Pensions Institute, U.K.) 2. Assessing Investment and Longevity Risks within Immediate Annuities Daniel Bauer & Frederik Weber (Ulm University, Germany) 3. An Optimal Product Mix for Hedging Longevity Risk in Life Insurance Companies Jerry Huang, Sharon Yang, Jennifer Wang and Jeff T. Tsai (Chengchi University, Taiwan)
	Section 7-2
	1. The Market Experience of Issuing First Mortality Bond Patricia Berry (Vice President of Client Markets, Sweiss Reinsurance, Australia) 2. Danger: Don’t Outlive Your Money! Andy Yang(Chief Investment Officer, ING Life Insurance Company, Taiwan) 3. The Basics of Pension Finance Jan B. Kune (University of Amsterdam, Netherlands)
	Section 7-3
	1. The Development of Longevity Risk Market and Product Trend of Taiwan Ann Yang (Chairman of AIG Global Investment Consulting Corporation Ltd, Taiwan) (The document is not available) 2. A New Investment Approach in Today's Pension Enviornment: Alex Pan (Head of Institutional Business, JPMorgan Asset Management, Taiwan 3. The Pricing of Securitization of Life Insurance under Mortality Dependence Chia-Chien Chang and David Shyu (National Sun Yat-sen University, Taiwan)
15:30 – 15:50	Coffee Break
Plenary Section 8: Modeling Longevity Risk
15:50 – 16:20 (30 minutes)	Modeling and Forecasting of Mortality Risk in Asia Countries		Jerry and C. J. Yue (National Chengchi University, Taiwan)
16:20 – 16:50 (30 minutes)	The Volatility of Mortality		Jochen Russ and Daniel Bauer (Ulm University, Germany)
16:50 – 17:00	Official Closing	Richard MacMinn (Illinois State University) David Blake (Pensions Institute, Cass Business School) Jennifer Wang (National Cheng-chi University)