Saturday, Oct 26, 2024 | 09:00 AM - 10:00 AM
Location: HQ1 Atrium HQ1-1-700
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OVERVIEW
The damage and economic losses generated by natural catastrophe events and climate change have risen significantly in frequency and scale in recent years. Individuals and organizations are increasingly experiencing situations in which their health, wealth and incomes are not adequately protected across the world. The direct consequences of protection gaps represent a major challenge to the well-being and economic prosperity of individuals and societies. Narrowing protection gaps is the shared responsibility of private and public stakeholders. This panel would focus on protection gaps and discuss the role the insurance sector (with support from the public sector) can play in narrowing these gaps.
OPENING REMARKS
Gita Gopinath
First Deputy Managing Director, IMF
Gita Gopinath is the First Deputy Managing Director of the International Monetary Fund (IMF). She oversees the work of staff, represents the Fund at multilateral forums, leads the Fund’s work on surveillance and related policies, and oversees research and flagship publications. Ms. Gopinath previously served as the Chief Economist of the Fund. In that role, she helmed thirteen releases of the World Economic Outlook. She co-authored the “Pandemic Paper” on how to end the COVID-19 pandemic that set globally endorsed targets for vaccinating the world and led to the creation of the Multilateral Task Force made up of the leadership of the IMF, World Bank, WTO, and the establishment of a working group with vaccine manufacturers to accelerate delivery of vaccines to low-income countries. She also worked with other Fund departments on a new analytical approach to help countries respond to international capital flows via the Integrated Policy Framework. She also helped set up a Climate Change team inside the IMF to analyze optimal climate mitigation policies. Prior to joining the IMF, Ms. Gopinath was the John Zwaanstra Professor of International Studies and of Economics at Harvard University and before that she was an assistant professor of economics at the University of Chicago’s Booth School of Business. Her research, which focuses on International Finance and Macroeconomics, is widely cited and has been published in many top economics journals. She has authored numerous articles on exchange rates, trade and investment, international financial crises, monetary policy, debt, and emerging market crises.
SPEAKERS
Jonathan Dixon
Secretary General, IAIS
Jonathan Dixon is Secretary General of the International Association of Insurance Supervisors (IAIS), a position he has held since November 2017.
Jonathan has a long association with the organisation. Prior to becoming Secretary General, he was a member of the Executive Committee from 2009 – 2017 and served as Chair of the Implementation Committee from 2012 – 2017. In addition, Jonathan chaired the Governing Council of the Access to Insurance Initiative, a joint programme of the IAIS and development partners aimed at strengthening responsible and inclusive insurance.
Prior to joining the IAIS, Jonathan was Deputy Executive Officer at the Financial Services Board of South Africa, with responsibility for insurance regulation and supervision. He was appointed to this position by the Minister of Finance in 2008. Previously, he also worked for 10 years for the National Treasury of South Africa on economic and financial sector policy issues.
Jonathan holds a master’s degree in Economics from the London School of Economics, UK, and a bachelor’s degree in Economics from the University of Cape Town, South Africa.
LinkedIn handle: @jonathandixon
Andrew Mais
President, the National Association of Insurance Commissioners
Andrew N. Mais, Connecticut’s 33rd Insurance Commissioner serves as the 2024 National Association of Insurance Commissioners (NAIC) President. Mais also serves on various NAIC and International Association of Insurance Supervisors (IAIS) committees and task forces.
Mais has led discussions in several forums on race, diversity, and inclusion at the state level and within the insurance industry and in insurance practices.
Mais previously was a member of Deloitte’s Center for Financial Services. Prior to that, he was a Director at the New York State Insurance Department.
Mais has dedicated much of his life to public service including serving on numerous councils in his hometown of Wilton, Connecticut
Jérôme Jean Haegeli
Group Chief Economist, Swiss Re Institute
As Group Chief Economist for Swiss Re, Jérôme is responsible for the economic and insurance market research. He is also the managing editor for the sigma series, Swiss Re's flagship research series.
Jérôme leads the global research teams located in Zurich, New York, Bratislava, Bangalore, Beijing and Hong Kong and provides macro and insurance industry research and associated consulting services for the Group. He steers the scenario analysis, provides the macro and insurance industry analysis and forecasts, while contributing to a sound global financial market architecture and making the world more resilient.
Jérôme served as Co-Chair of the World Bank's Global Infrastructure Facility (GIF) Advisory Council. He is particularly active in external committees at the Institute of International Finance and the WEF and participates in roundtable discussions with policymakers; this to strengthen the positive dual role of the insurance sector as a long-term investor and risk absorber. Jérôme is a Board member of London School of Economics (LSE) Financial Markets Group (FMG) and the International Capital Market Association (ICMA). He also serves as Director of the Board at the China Asia-Pacific Reinsurance Research Center (CAPRRC).
Previously at Swiss Re, Jérôme was Head of Investment Strategy at its proprietary Group Asset Management for nearly ten years. Prior to joining Swiss Re, he was Swiss National Bank's Delegate at the Executive Board of the International Monetary Fund in Washington DC and Senior Economist at the Swiss National Bank, UBS Warburg and Bank Julius Baer.
Jérôme holds a PhD in Economics from the University of Basel, an MSc in Economics from the London School of Economics and was a Visiting Fellow at Harvard University's Economic Department.
Fundi Tshazibana
Deputy Governor, South African Reserve Bank
Ms Fundi Tshazibana is vice-chair of the Network for Greening the Financial System (NGFS).
She is a deputy governor of the SARB and the CEO of the Prudential Authority. The Prudential Authority regulates banks, insurers, cooperative financial institutions, financial conglomerates and certain market infrastructures. As head of the Prudential Cluster of the SARB, she also has oversight over the Financial Surveillance Department, which is responsible for regulation of cross border payments and AML/CFT supervision. She is a member of the SARB’s Monetary Policy, the Financial Stability and Prudential Committees. She chairs the investment committee of South Africa’s Corporation for Deposit Insurance.
Before the rotation of the deputy governors on 1 April 2022, she oversaw the Financial Markets and International Cluster and Chaired the Board of the Corporation for Public Deposits. Ms Tshazibana joined the SARB in 2018 as Adviser to the Governor and was appointed as a deputy governor in 2019. She has chaired the Deputies of the International Monetary and Financial Committee of the IMF from 2019-2021, she was South Africa’s G20 Deputy from 2019-2022 and has previously been South Africa’s climate negotiator on the finance track.
She is an economist. At the IMF, she was an alternate executive director on the Executive Board from 2015-2018. Prior to joining the IMF, Ms Tshazibana was a deputy director-general at South Africa’s National Treasury, where she was responsible for macroeconomic policy and economic forecasting. She has also worked at South Africa’s energy regulator and as a market research executive.
MODERATOR
Tobias Adrian
Financial Counsellor and Director, Monetary and Capital Markets Department, IMF
Tobias Adrian is the Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund (IMF). In this capacity, he leads the IMF’s work on financial sector surveillance, monetary and macroprudential policies, digital money, financial regulation, bank resolution, debt management, capital markets, and climate finance.
He also oversees capacity building activities in IMF member countries with regard to the supervision and regulation of financial systems, bank resolution, central banking, monetary and exchange rate regimes, central bank digital currency, and debt management.
Prior to joining the IMF, Mr. Adrian was a Senior Vice President of the Federal Reserve Bank of New York and the Associate Director of the Research and Statistics Group. At the Federal Reserve, he contributed to monetary policy, financial stability policies, and to crisis management. Mr. Adrian has published extensively in economics and finance journals. His research spans macro-finance, monetary policy, financial stability, and climate finance, with a focus on aggregate consequences of capital markets developments.
He has taught at Princeton University and New York University. He is member of the editorial boards of the International Journal of Central Banking and the Annual Review of Financial Economics. Mr. Adrian holds a Ph.D. from the Massachusetts Institute of Technology in Economics, an MSc from the London School of Economics in Econometrics and Mathematical Economics, a Diplom from Goethe University Frankfurt and a Maîtrise from Dauphine University Paris. He received his Abitur in Literature and Mathematics from Humboldtschule Bad Homburg.
CLOSING REMARKS
Shigeru Ariizumi
Chair, Executive Committee, IAIS
Shigeru Ariizumi
Chair, IAIS Executive Committee
Vice Minister for International Affairs, Financial Services Agency of Japan
Shigeru Ariizumi is Vice Minister for International Affairs of the Financial Services Agency (FSA) of Japan. He plays leading roles in various international fora. He is a member of the FSB Plenary and serves as the Chair of the Executive Committee of the IAIS and the Vice Chair of the Board of IOSCO.
Before assuming his position in July 2023, he held key positions at the Ministry of Finance (MOF) and the FSA. At the MOF, he worked as G7/G20 Deputies Deputy in the Finance Track and also supervised Japan’s relationship with the IMF and the World Bank. At the FSA, he led the team under Japan’s G20 Presidency in 2019. He also has extensive experience in supervision, holding senior management positions in all banking, securities and insurance.
Shigeru holds a bachelor’s degree in law from the University of Tokyo and a master’s degree from Harvard Law School. He has passed the bar in Japan and the United States and is a registered attorney in the State of New York.
LinkedIn handle:@shigeruariizumi