The 3rd International Longevity Risk and Capital Market Solutions Symposium

Tom Boardman, Prudential plc, U.K. (opening keynote speech)
	TOM BOARDMAN Director of Group Policy Development, Prudential plc¹ Prudential plc is one of the UK’s best known financial services groups, with a significant market presence in the USA and Asia. Tom is enjoying his second career with Prudential. In his current role he is responsible for developing the strategic policy positioning of Prudential plc in the UK and Europe, focusing in particular on the development of the long-term savings, pension and retirement income landscape. He is also a Director of Prudential Annuities Ltd. and Prudential Retirement Income Ltd. Tom spent his early career with Prudential in a variety of actuarial and general management roles. His last role was Strategic Change Director. In the mid-1990s Tom left Prudential to set up and run Nationwide Building Society’s Bancassurance operation in the UK, remaining involved as a non-executive director of the Life and Unit Trust companies until 2004. He is the co-author of the prize winning “Reinventing annuities” paper presented to the Staple Inn Actuarial Society in January 2001. Tom rejoined Prudential UK in 2001 as Managing Director of Prudential Annuities and Prudential Retirement Income which are market leaders in the UK, writing individual and bulk annuity business of over £4Bn in 2006. From September 2003 he was the Policy Development Director for the UK Insurance business and became Group Policy Development Director in January 2007. He is a Fellow of the Institute of Actuaries and has an MA in Economics from Emmanuel College, Cambridge University. ¹ Prudential plc, is a company incorporated in the United Kingdom ("Prudential UK"). Prudential UK and its affiliated companies constitute one of the world's leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world. It has been in existence for over 150 years and had £250 billion assets under management as of 31 December 2006. Prudential UK is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America.
Shripad Tuljapurkar,Morrison Professor of Population Studies, and Professor of Biological Sciences, Stanford University, U.S.A. (opening keynote speech)
	Shripad Tuljapurkar has pioneered methods in mathematical demography and theoretical ecology, especially for analyzing and forecasting populations subject to variability in their dynamics. He has shown how these methods can be used to study the evolution of life cycles in biology, to predict human mortality patterns, and to carry out risk analysis in areas ranging from species conservation to the management of public pension systems. Professor Tuljapurkar is a member of the Center for the Demography and Economics of Aging at the University of California, Berkeley. In 1990, he was elected a fellow of the American Association of Arts and Sciences; in 1996, he received the Mindel Sheps Award from the Population Association of America; and in 1998, he received the John Simon Guggenheim Fellowship. He serves on the editorial boards of several scientific journals and on review panels for national scientific agencies.
Bill Chang, Financial Supervisory Commission, Taiwan
	Current Position Professor, Department of Risk Management and Insurance, National Chengchi University, Taipei, Taiwan, R.O.C. Since 1999 Executive of EMBA, College of Commerce, NCCU Academic Experience Ph.D., Dept. of Statistics in University of Wisconsin-Madison, USA, 1994. BS, Dept of Mathematics in National Taiwan University, Taipei, Taiwan, 1985 Experience: 1. Visiting Professor, Department of Finance, Chinese University of Hong Kong, Hong Kong, 2003 2. Associate Professor, Department of Risk Management and Insurance, National Chengchi University, Taipei, Taiwan, R.O.C. 1995-2000 3. Adjunct Associate Professor, Department of Mathematics, National Taiwan University, Taipei, Taiwan, R.O.C. 1996-1998 4. Visiting Lecturer, Department of Mathematics and Statistics, University of Otago, Dunedin, New Zealand. 1994 5. Research Scientist, Bureau of Research, Department of Natural Resources, State of Wisconsin, Madison, U.S.A. 1993-1994 6. Teaching Assistant, Department of Statistics, University of Wisconsin-Madison, U.S.A. 1990-1994 .
Guy Coughlan, JP Morgane, U.K.
	Guy D. Coughlan is the Global Head of Pension Asset-Liability Management (ALM) Advisory at JPMorgan. As a specialist in ALM and risk, he has been advising corporations, pension funds, and insurers on strategic risk management, asset-liability management, debt management and capital structure for 14 years. More recently Dr. Coughlan led the team that developed LifeMetrics, a toolkit for managing longevity risk that was launched in March 2007. Dr. Coughlan is a Rhodes Scholar who holds a B.Sc.(Honors) degree from the University of Western Australia, an MBA from Henley Management College, and a D.Phil. (Ph.D.) in theoretical physics from Oxford University. Dr. Coughlan began his career as a Junior Research Fellow at Oxford University, before moving into the oil industry and joining Shell in London. He was recruited to JPMorgan in 1994, initially within the Fixed Income Research department. Here he worked on projects involving optimal investment strategies, the development of RiskMetrics, and built the "FourFifteen" risk analysis software. In 1996 he moved to head the newly formed Risk Management Products group, which was later spun off from JPMorgan as The RiskMetrics Group. In this role he was responsible for products such as RiskMetrics and CreditMetrics. In 1998 he founded JPMorgan's ALM Advisory Group.
Timothy Schiltz, AIG Financial Groups, Japan
	Mr. Timothy P. Schiltz is the Regional Vice President of AIG Retirement Services - Asia. As the Retirement Services Profit Center head in Asia, Mr. Schiltz has overall responsibility for both the top and bottom lines for the retirement services business in Asia. He is supporting local management to develop their retirement services product and market strategy, analyze and report financial performance, and secure and deepen distribution relationships by leveraging best practices among retirement service businesses in AIG. Mr. Schiltz is based in Tokyo and joined AIG in 2006 from Hartford Life Japan where he served as President and CEO since 2000 and was responsible for leading a start-up company that became the leading provider of variable annuities in Japan during his tenure. Previously, Mr. Schiltz served as Hartford Life's Vice President and Director of Institutional Investment Products from 1996 to 1999 and was named Director of Risk Management in 1995. He joined the company in 1993 as Director of Product Management, Individual Annuities. Before joining The Hartford, Mr. Schiltz worked for Transamerica Life Insurance Company in various actuarial and management positions from 1983 to 1988. From 1988 to 1993, Mr. Schiltz was a consultant to the life insurance industry, specializing in product development, asset/liability analysis, insurance company taxation and acquisitions. Mr. Schiltz earned his B.S. degree in Integrated Studies (with a focus in Actuarial Science) from the University of Nebraska in 1983. He received his Fellowship from the Society of Actuaries in 1988.
Pascal Schoenmaekers, Munich Re, Germany
	Pascal Schoenmaekers earned a degree in Discrete Mathematics (Coding Theory & Cryptology) in 1990. In 1991 he started his career as a mathematician in the life insurance industry in the Netherlands with a company now part of Fortis. At Fortis he worked in several actuarial roles, amongst other them product development and asset and liability analysis of immediate and deferred annuity products. In 2000 he moved to the life department of Munich Reinsurance Company in Munich, Germany working for the Dutch life insurance market. As from 1 November 2004, Mr. Schoenmaekers joined the Financial Solutions department at Munich Re, focusing on non-traditional life reinsurance. Mr. Schoenmaekers interest include the modeling and management of mortality risk and multiple state models for life contingencies.
David Blake, Cass Business School, U.
	Dr David Blake is Professor of Pension Economics and Director of the Pensions Institute at Cass Business School, City of London, and Chairman of Square Mile Consultants, a training and research consultancy. Formerly Director of the Securities Industry Programme at City University Business School, Research Fellow at both the London Business School and the London School of Economics and Professor of Financial Economics at Birkbeck College, University of London. Consultant to many organisations, including Merrill Lynch, Deutsche Bank, Union Bank of Switzerland, Paribas Capital Markets, JPMorgan, McKinsey & Co., Financial Research Services Ltd, James Capel, Schroders, UNESCO, Taunton Cider Company, Hill and Knowlton, the Independent Television Companies Association, the Office of Fair Trading, the Office for National Statistics, the National Audit Office, Financial Services Authority, Association of British Insurers, the Chartered Institute of Management Accountants, the Institute of Chartered Accountants of England & Wales, the Government Actuary's Department, the Department for Work & Pensions, HM Treasury, the Bank of England, the World Bank, the International Monetary Fund, and the Prime Minister's Policy Directorate.
Richard MacMinn, Illinois State University, U.S.A.
	Professor Richard D. MacMinn, BA, MA, PhD, is the first holder of the Edmondson-Miller Chair in Insurance and Financial Services at Illinois State University and was previously the first holder of the Swiss Re Chair in the Management of Risk at the University of Nottingham. He was editor of the Journal of Risk and Insurance, the lead journal in the world on insurance and risk management, published by the American Risk and Insurance Association from 1998 through 2006. He is an associate editor for the Asia-Pacific Journal of Risk and Insurance, the Journal of Insurance Issues and the Quarterly Journal of Economics and Finance. Professor MacMinn served as a board member of the Asia-Pacific Risk and Insurance Association from 2000-2003, as a board member for the American Risk and Insurance Association from 2003-2006 and is a member of the American Risk and Insurance Association, Asia-Pacific Risk and Insurance Association, European Group of Risk and Insurance Economists, Southern Risk and Insurance Association, Western Risk and Insurance Association, American Economic Association and American Finance Association. He has published in journals including the Journal of Risk and Insurance, Insurance: Mathematics and Economics, Geneva Papers, Journal of Political Economy, Quarterly Journal of Economics, and Journal of Finance. He has thrice won the prestigious Mehr Award in addition to a number of other awards from the American Risk and Insurance Association, Casualty Actuarial Society, and General Insurance Research Organization in the United Kingdom and Asia-Pacific Risk and Insurance Association for his publications.
Anthony Webb, Boston College, U.S.A.
	Anthony Webb is a research economist at the Center for Retirement Research at Boston College. He earned his doctorate in economics from the University of California, San Diego in 2001. Dr Webb’s research interests include the impact of pension type on transitions from work to retirement, the management of the process of wealth decumulation in retirement, the impact of bargaining within the household on asset allocation and decumulation, and the management of aggregate mortality risk.
Sam Cox, University of Manitoba, Canada
	Dr. Samuel H. Cox holds the Dr. L. A. H. Warren Chair at the University of Manitoba. Before joining the University of Manitoba in 2007, Dr. Cox held faculty positions at Georgia State University, Michigan State University, the University of Nebraska-Lincoln and the University of Texas at Austin. Professor Cox earned BA and MS degrees at Texas Christian University and a PhD at Louisiana State University, all in mathematics. Dr. Cox is a Fellow of the Society of Actuaries (1980), a Member of the American Academy of Actuaries (1980), a Chartered Property and Casualty Underwriter (1996), a charterholder of the Chartered Financial Analysts Institute since 2003, and a honorary member of the Swiss Association of Actuaries since 2002. Dr. Cox helped create the North American Actuarial Journal and served as its first editor. In addition, he served as one of the first co-editors of the Asia Pacific Journal of Risk and Insurance. He has held several leadership positions in the actuarial profession, including a three-year term on the Board of Governors of the Society of Actuaries (2001 – 2003). He is co-author of textbooks in financial economics, life insurance mathematics, and finance. His papers have been published in top ranking actuarial science, mathematics, and risk management and insurance journals.
Michael Sherris, University of New South Wales, Australia
	Michael is Professor of Actuarial Studies in the Faculty of Commerce and Economics at the University of New South Wales in Sydney Australia. In January 1998 he was appointed as a Professor in the Faculty of Commerce and Economics at the University of New South Wales in Sydney Australia to establish the UNSW actuarial studies program. He was previously an Associate Professor at Macquarie University. Before joining Macquarie University he worked in the banking and finance industry as an actuary. His main area of research interest is in financial economics, insurance economics, quantitative risk management and actuarial science with a focus on the application of financial economic theories to insurance and superannuation problems. Current research projects are in the areas of enterprise risk management, solvency, capital adequacy and pricing in insurance, and risk modelling of commodity and electricity markets. He has been active in the actuarial profession in Australia and was elected to the Council of the Institute of Actuaries of Australia in 1994 for a 3 year term. He served on the Council Education and Investment and Finance Committees. He has been a member of many Committees of the Australian Professional body including the Finance Practice Committee, the Program Committee, and the Research Committee. He has been an Examiner for the Institute in Finance and Investment and in General Insurance. He was one of the founding editors of the Quarterly Journal of the Institute of Actuaries of Australia and served on the Centenary Organising Committee that organised the 100 year celebration of the actuarial profession in Australia in 1997. In 1997 he was the Chair of the Scientific Committee for the AFIR International Colloquium which was held in Cairns, Australia, 13-15 August 1997 in conjunction with the ASTIN International Colloquium. He has won a number of awards for my research including the Redington Prize of the Society of Actuaries and the H M Jackson Memorial Prize of The Institute of Actuaries of Australia on a number of occasions. He was an Associate Editor of the North American Actuarial Journal from 1997 to 2004. He is Vice President of the Asia Pacific Risk and Insurance Association and a member of the American Risk and Insurance Association. He is an Associate Editor of the Asia Pacific Journal of Risk and Insurance. He is a current member of the Q-Group Australia and has served on the Q Group Organising Committee. He is on the Board of the Enterprise Risk Management Institute International (ERMII).
Jochen Russ, Ulm University, Germany
	Dr. Jochen Russ is managing director of the Institut für Finanz- und Aktuarwissenschaften (ifa), an actuarial consulting firm in Ulm, Germany. He is also a lecturer for actuarial sciences at the University of Ulm and the European Business School. He is a member of the board of governors of the Asia-Pacific Risk and Insurance Association and associate editor of the Asia Pacific Journal of Risk and Insurance. The focus of his consulting work is on the development of innovative life insurance products, in particular with new forms of guarantees, as well as Asset Liability Management and mathematical topics in the area of traded life insurance policies. For his research in the area of guaranteed unit-linked life insurance and the application of option pricing theory to life insurance related topics, he received seven research awards in Australia (1997 and 2000), Singapore (1998) and Germany (1999, 2000, 2004 and 2006).
Jennifer Wang, National Chengchi University, Taiwan
	Dr Jennifer Wang is the Associate Professor of Department of Risk Management and Insurance at National Cheng-Chi University. She is the associate editor of Journal of Insurance Issue published by Western Risk and Insurance Association in U.S.A. Professor Wang also serve as a board member of the Asia-Pacific Risk and Insurance Association, as a member of Consulting Board for Bureau of Labor Insurance and for Public Service Pension Fund in Taiwan, as the Board of Governors for Pension Funds Association in Taiwan, and as a research fellow of China Center for Insurance and Social Security Research in Peking University, China. Her research interest is in pension fund management and annuity market, social Insurance, risk management and Insurance. She has published paper in many international journals including the Journal of Risk and Insurance, Geneva Papers, Journal of Actuarial Practice and Risk Management and Insurance Review, etc…
Sharon Yang,Soochow University, Taiwan
	Dr. Sharon Yang is an associate professor of Business Mathematics at Soochow University in Taipei, Taiwan, a reviewer of life insurance product for the insurance bureau of financial supervisory commission and involved in my many research projects. Her research subjects include modeling longevity risk, valuation of options embedded in life insurance policies and pension plans, pension finance, securitization. She received her Ph.D. in actuarial mathematics and was supervised by Professor David Wilkie and Professor Howard Waters at Heriot-Watt University in UK, Nov. 2001.
Jerry Huang and C. J. Yue, National Chengchi University, Taiwan
	Dr. Jerry Huang is an associate professor of risk management and insurance at national Chengchi University in Taiwan. He currently serves as a member of reviewing committee of life insurance products in the insurance bureau of financial supervisory commission. His research subjects include asset liability management, asset allocation, pension, longevity risk, and mortality improvement models. He received his Ph.D. in actuarial science from Heriot-Watt University at UK in 2000.
	Dr. Jack C. Yue is Professor of Statistics Department at College of Commerce, National Chengchi University. Formerly Chairman of Statistics Department and Director of Statistics Research Center, at College of Commerce, National Chengchi University. Consultant to many organizations, in private firms and government, in Taiwan.
Dr. Wolfgang Mader
	Dr. Wolfgang Mader is Senior Associate and Head of Pension Strategies of risklab germany. His consulting and research focus is on dynamic asset allocation strategies, Hedge Funds and securitization. He published numerous articles in scientific and professional journals and is a frequent speaker at seminars and conferences on investment management topics. Dr. Mader studied Business Administration and received his Ph.D. in finance on Alternative Investment Strategies from the Economics Department at the University of Augsburg.
John D. Curry, Managing Director, Individual Retirement Services
	Mr. Curry is Managing Director of AllianceBernstein’s Individual Retirement Services business. In this role, he is responsible for leading all aspects of the “in-retirement” market segment for the company – including investor and advisor education, marketing, product, and service initiatives. In this role, he works with AllianceBernstein’s distribution partners, advisors, and wholesalers to help Americans plan for their most important financial goal: retirement. Previously, Mr. Curry held Senior Product Development and Marketing positions at FundQuest and Putnam Investments and managed Putnam’s advisor educational efforts. Prior to locating to Boston, he worked nearly ten years at Wachovia Securities, Inc. (formerly Interstate/Johnson Lane) in Charlotte where he managed several functions, including E-Commerce, Corporate and Executive Services, Retirement Plan Services, and Insurance Product Marketing. Mr. Curry holds his NASD Series 7, 24, and 53 licenses. He attended the McColl School of Business at Queens University for his Master of Business Administration – where he distinguished himself as a Blumenthal Fellow – and the University of North Carolina for his Bachelor of Science.
James S. Hwang, President of Franklin Templeton First Taiwan SITE
	Profiles: The President of Franklin Templeton First Taiwan SITE The Senior Vice President of FT Securities Investment Consulting (SinoAm) Inc. The Manager of Research Department of International Investment Trust Co., Ltd. The Fund Manager of IIT Citizen Fund of International Investment Trust Co., Ltd. The Specialist of China Development Industrial Bank