Main Conference Day 2: Wednesday, September 29, 2010
8:15 Registration & Coffee
8:45 Morning Keynote: The 'Holy Grail' Of Managing
Longevity Risk
As we all know, the key to realizing strong returns from life settlement investments is the ability to manage longevity risk. Renowned life settlements expert Professor Aspinwall will share two approaches for achieving this: firstly, he will examine the evolution of life expectancy calculations, looking at how we have progressed from a deterministic approach to stochastic Poisson jump diffusions distributions emanating from quantum mathematics, and how life expectancy can be priced more accurately going forward. Secondly, he will also explore the plethora of longevity hedging models available, determining how effective these tools will be as they reach maturity.
Jim Aspinwall
Professor; Florida Southern University; Director of Advisory Board, LRGC; The Dominion Fund; Author
“Life Settlements and Longevity Structures”
9:30 NEW! Bridging Illiquid Assets With Liquid Assets: Innovative Hybrid Models For Longevity Derivatives And Life Settlements
- What is driving the trend of using hybrid models in a life settlements fund?
- How can you successfully play longevity to bridge liquid assets with illiquid assets?
- How can hybrid models help to manage the inherent risks of the underlying asset?
- Comparing yields for hybrid funds vs. pure life settlements
- Blending vanilla life settlement assets with:
- Synthetic longevity–based products
- Premium finance structures
- Other asset classes
- Examining examples of real-world hybrid funds
Moderator:
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Kyle Shostak
Director
Rigi Capital Partners
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Eugene A. Miao, Managing Director
Highland Capital Management
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Rohit Sharma
Executive Director
JP Morgan
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10:15 Morning Networking Break
11:00 Investor Perspectives On Maximizing The Benefits
Of Longevity Risk Transfer Strategies
Examine current uses of longevity risk transfer strategies and get tools
and insights on how to integrate longevity risk transfer products into
your current portfolio.
David Fishbaum
Head of Actuarial Unit
Oliver Wyman
11:45 NEW! Lessons Learned – An Examination Of What Did Not Work In The Past And What This Means For The Future Of Capital Formation
This forward-thinking session will examine what has not worked in the past,
drawing on what future lessons can be learned for the industry:
- Fund structuring
- Cashflow modeling
- Disclosure and transparency
- Fund management
Scott Willkomm
Senior Vice President
Coventry
12:30 Lunch
1:45 Building An Accurate Valuation Strategy For Life
Settlement Portfolios
- Deconstructing the actuarial assumptions that go into the process of valuation
- Valuation modeling strategies:
- Mark to market
- Mark to model: deterministic/probabilistic
- Adding your own stresses to the assumptions of LE providers
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Isaac Efrat
Senior Managing Director
Aladdin Capital Holdings
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Larry H. Rubin
Partner, Actuarial and Insurance Management
PricewaterhouseCoopers
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2:30 Afternoon Keynote: Global Overview Of Life Settlements
From An Investment Perspective
Paul Siegert
President & CEO
Insurance Studies Institute
3:15 Afternoon Networking Break
4:00 DON’T MISS! International Developments On Life Settlements And Implications For US Investors
This session will offer insights into emerging trends on an international level,
such as:
- New initiatives to promote transparency
- Pricing trends
- Investor education
Paul Winner
Founder
European Life Settlements Association (ELSA)
4:45 Roundtable Discussions
Join your choice of interactive roundtable discussions:
- The Emergence of a Tertiary Market
- New Models for Managing Cash-Flow in Life Settlements
- New Initiatives in Investor Education
- Securitization of Life Settlements
- Selling off Life Settlement Assets