Sustainable Finance Week

Insurance Financing Sustainability
Thursday 10 June 2021

Sustainable Finance Week - Thursday

Welcome & Introduction

Barnaby Molloy

Director - Guernsey Finance

Barnaby joined Guernsey Finance in October 2016, focused on delivering a marketing strategy which can successfully promote and connect Guernsey as the leading finance sector in its chosen markets. Barnaby joins with over 10 years of international marketing experience across Digital and TV, having most recently worked as Head of Marketing in the UK for the world’s largest casino company.

Session One - Keynote

Dr Phil Klotzbach, Ph. D.

Research Scientist - Department of Atmospheric Science, Colorado State University

Phil Klotzbach is a Research Scientist in the Department of Atmospheric Science at Colorado State University. He received his Ph.D. in Atmospheric Science from CSU in 2007. Phil has been employed in the Department of Atmospheric Science for the past 20 years and was co-author on the Atlantic basin hurricane forecasts with Dr. William Gray through 2005. He became the first author on the seasonal hurricane forecasts in 2006. Phil developed the two-week forecasts currently being issued during the peak months of the hurricane season between August and October. He has authored more than 60 articles in peer-reviewed journals such as Journal of Climate and Weather and Forecasting.

Phil graduated from Bridgewater State College with a BS degree in Geography in 1999. He then attended Colorado State University where he received his Masters degree in Atmospheric Science in 2002.

John Rowson (Moderator)

CEO - Kelvin Re Ltd

John is a founding director of Kelvin Re and in February 2015 became the company’s first employee with responsibility for all operational and underwriting aspects of the business.

Prior to joining Kelvin Re, he worked for Royal Sun Alliance (RSA), Hiscox and Aon. While at Aon he worked in Guernsey, Gibraltar and Chicago serving a wide range of clients in various industries. In 2012 he returned to Guernsey to lead White Rock operations and the local ILS business.

John is a Chartered Insurer and ACII and has served the institute in numerous roles. He is currently a member of the Guernsey International Insurance Association’s market development committee which focuses on creating a leading domicile for (re)insurance.

Session Two

Adam Bornstein

Lead, Innovative Finance & Systems Change - Danish Red Cross

Adam is the Lead for Innovative Finance & Systems Change at the Danish Red Cross

Prior to joining the Danish Red Cross, Adam was based in Washington, DC where he was CFO for Ashoka, a foundation that supports social entrepreneurs. Preceding Ashoka, Adam was a Senior Advisor at USAID and led the Innovative Finance team for the Global Fund to Fight AIDS, TB, and Malaria.

He was formerly Head of Mongolia for International Finance Corporation (IFC) in Ulaanbaatar, Mongolia. Before moving into the humanitarian sector, Adam was Senior Vice President with Hong Kong-based private equity fund China Development Industrial Bank where he co-managed a US$1B program. Before entering private equity, Adam founded a venture capital fund in Shanghai, PRC and held roles as a global marco hedge fund trader and equity analyst in New York and Hong Kong.

Meredith Jones

Global Head of ESG, Responsible Investing - Aon

Meredith Jones is a Partner at Aon focusing primarily on Environmental, Social and Governance (ESG) and responsible investing. She is the leader of Aon’s Global ESG Think Tank and continues to work with Aon’s investment and corporate clients on ESG initiatives and integration, climate change initiatives, impact investing and finance, divestment strategies and diverse manager initiatives.

Meredith began her investment career at Van Hedge Fund Advisors International (VAN), where she was Director of Research, responsible for manager selection, due diligence, index construction and aggregate industry research for the $500 million fund of funds. Later in her career she focused on industry trends with an eye to providing actionable insights and information, and her research on emerging managers and women and minority-owned funds has changed the way investors and money managers behave - both in the way investors allocate and how money managers market to and seek investors. Meredith joined Aon in 2015.

Meredith’s research has been featured in the international financial media and she is the award-winning author of "Women of The Street: Why Female Money Managers Generate Higher Returns (And How You Can Too)", was named one of Inc. Magazine’s 17 inspiring women to watch in 2017, was selected as a distinguished author by the Securities and Exchange Commission in 2018, and testified before the U.S. House of Representatives in 2019.

Jutta Kath

CEO & Founder - uni-kath

After over 30 years in the insurance and reinsurance industry, Jutta founded her own consultancy company at the beginning of 2021. Her broad background, ranging from claims, underwriting and run-off management to insurance-linked securities, enables her to advise her clients in these fields. She also has extensive leadership experience from working at Zurich Insurance, Converium, Winterthur Insurance, Allianz and Schroders, leading internationally diverse teams. In her coaching practice, she focuses on finance and career coaching utilising techniques that are based in neurodynamic self-management. She holds non-executive directorship roles at Uniqa Insurance Company, Vienna, and Uniqa Re in Zurich since 2016. Additionally, she serves as Swiss Chair of the ISC Group a Women‘s Network in the insurance industry and is a speaker at industry events.

Martin Massey

Managing Director - OneRisk Consulting Ltd

Martin is the founder and owner of OneRisk Consulting Ltd and is a highly qualified and leading practitioner in enterprise risk management.

He has 30 years' experience in Risk Management including Swiss Re, AIG, Aon, Marsh and Enstar and is the current Chair of the Climate Change Committee at the Institute of Risk Management.

Mark Elliott (Moderator)

Chairman - Guernsey International Insurance Association (GIIA)

Mark has spent nearly two decades working in the insurance industry, working on a range of clients and structures. Now Chairman of the Guernsey International Insurance Association, Mark is ACII qualified and is currently CEO of a reinsurance Company based in the Island.

Session Three

Stephen Nolan

Managing Director - UN Environment convened Financial Centres for Sustainability (FC4S)

Stephen Nolan is the Managing Director of the UN Environment convened Financial Centres for Sustainability (FC4S) global network. With a membership base covering Europe, the Gulf, Africa, Asia and North America, including Guernsey, the objective of the network is to exchange experience and take common action on shared priorities to accelerate the rapid global growth of green and sustainable finance across the world’s financial centres, supported by strengthened international connectivity, and a framework for common approaches.

A senior business professional who has led and delivered initiatives from start-up to scale across both public and private spheres internationally, Stephen is also a member of the international Advisory Panel member of the Climate Bonds Initiative and the Advisory Board of the International Energy Research Centre.

Stephen is a co-founder of Sustainable Nation Ireland, a non-governmental body working together with Ireland’s public and private sectors to advance the sustainable finance agenda within Ireland. Stephen currently sits on the boards of Haven, an Irish based charity focused on Haiti and the Children’s Cancer Fund. He is a former Irish Government ICT Special Advisor and Advisor to UN Secretary General Annan’s Task Force on ICT.

Prajwal Baral

Senior Advisor - UN Convened Sustainable Insurance Forum

Mr. Prajwal Baral is a sustainable finance and clean technology financing specialist with experience consulting for the likes of the World Bank Group (WBG), DBS Bank, the UNEP Inquiry into the Design of a Sustainable Financial System, the United Nations Development Programme (UNDP), C40 Cities Finance Facility, the World Trade Organization (WTO) and several other public/private institutions in Asia, Europe, and the Americas. He was the key consultant in revamping technology classification of WIPO GREEN, an interactive marketplace initiated by the World Intellectual Property Organization (Switzerland) that matches owners of new technologies with individuals or companies seeking to commercialize, license or otherwise distribute a green technology.

He is a Member of the Joint NGFS-INSPIRE Study Group on Biodiversity and Financial Stability. At the UN convened Sustainable Insurance Forum, he is currently leading an initial scoping study to assess financial risks of nature-related loss in the global insurance industry. He also consults for the World Bank Group in helping its clients design and develop carbon pricing instruments. In addition, he also serves as a transaction advisor to the International Renewable Energy Agency (IRENA) - advancing renewable energy projects (solar, wind, hydro, biomass) towards financial closure. Mr. Baral has an MSc from the University of Oxford, where he was Sir Walter Raleigh Scholar and Boardman Scholar.

Session Four

Adele Gale

Director & Group Head of ILS - Robus Group

Adele joined Robus in February 2020 as head of their ILS and longevity practices. Adele is responsible for a portfolio of existing clients alongside new business initiatives.

Adele is a Fellow of the Institute of Chartered Accountants with over 10 years’ experience in insurance management. She was involved in setting up Guernsey's first rated catastrophe reinsurer, first Cat Bond listing and first securitisation of Takaful insurance policies along with managing hundreds of Special Purpose Insurers.

Adele has worked with a wide variety of clients to structure insurance transactions which meet their needs and comply with Guernsey’s regulatory and legal requirements. She has worked with a rating advisory, governance specialists, modellers, capital actuaries and compliance teams as well as various client’s and investor’s operational, legal and due diligence teams.

Ben Snook

Senior Manager, Listings - The International Stock Exchange

Ben joined the Exchange in 2015 and has more than 15 years’ experience in the offshore financial services industry. He sits on the Listings and Membership Committee and was involved with the launch of the TISE GREEN segment and is involved with TISE’s Sustainability working group.

Ben has been a member of the Guernsey Investment Fund Association (GIFA) Technical Sub Committee since 2013, and has written a number of technical papers and presentations on topics such as MiFID II and MiFIR, substance and continuing obligations.

He has also been a member of various Guernsey Financial Services Commission working groups and is the current Vice-President of the Chartered Institute for Securities and Investments (CISI) – Guernsey Branch Committee.

Kate Storey

Partner - Walkers

Kate is a Partner in the Investment Funds and Corporate Group in the Guernsey office of Walkers. With more than 20 years' experience, Kate is a prominent Guernsey insurance expert, having advised on the establishment of the majority of new Special Purpose Insurer structures which have been set up under Guernsey's Special Purpose Insurer Rules 2016.

She provided legal advice in relation to the World's first volcanic eruption cat bond issued for the Danish Red Cross, and also recently advised on the establishment of an innovative new fuel price insurance provider. As a member of the Guernsey International Insurance Association's ILS & Reinsurance working group, she has been involved in Guernsey's new ESG Framework for Guernsey Insurers.

Kate also specialises in investment fund structuring and finance, equity fundraising and listings, mergers and acquisitions and group reorganisations. She is consistently listed as a Leading Individual for Insurance in the Legal 500 directory and in the International Who’s Who Legal of Private Funds Lawyers for her investment funds work.

John Rowson (Moderator)

CEO - Kelvin Re Ltd

John is a founding director of Kelvin Re and in February 2015 became the company’s first employee with responsibility for all operational and underwriting aspects of the business.

Prior to joining Kelvin Re, he worked for Royal Sun Alliance (RSA), Hiscox and Aon. While at Aon he worked in Guernsey, Gibraltar and Chicago serving a wide range of clients in various industries. In 2012 he returned to Guernsey to lead White Rock operations and the local ILS business.

John is a Chartered Insurer and ACII and has served the institute in numerous roles. He is currently a member of the Guernsey International Insurance Association’s market development committee which focuses on creating a leading domicile for (re)insurance.

Closing Remarks with Aon

Paul Sykes

Managing Director - Aon Insurance Managers

Paul is the Managing Director for Aon Guernsey and Head of Underwriting Solutions in EMEA. He has served Aon for over 25 years, developing businesses for Aon and the White Rock Group in Guernsey, Gibraltar and Malta.

Paul was instrumental in developing Guernsey’s ILS and Commercial Reinsurance sectors and he has worked with clients to set-up, manage and direct all kinds of insurance and reinsurance companies.

He is former Chairman of the Insurance Industry Associations in both Gibraltar and Guernsey and a past President of the CII in Guernsey.