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Seminar on Risk-Based Approaches to Capital: Achieving Insurance Sector Reform

Date: October 29, 2008
Morning Session: 10am-12pm Washington-time, Room MC4-800, World Bank Main Complex Building, 1818 H Street, NW, Washington D.C. with videoconference links (see below)
Evening Session: 8pm-10pm Washington-time, Room H7-290, World Bank "H" Building, 19th and G Street, NW, Washington D.C. with videoconference links (see below)
Organized by: Craig W. Thorburn, Senior Financial Sector Specialist, Financial Systems Department
Contact: Colleen Mascenik, Learning Coordinator, Finance and Private Sector Development Department, cmascenik@worldbank.org or via fax: +1 202 522 3480.

Overview: This two-hour seminar will be offered twice on October 29th, linking Washington headquarters with several country offices via videoconference in the morning and again in the evening. The seminar offers an operational example of developing a risk-based approach to capitalization for the insurance sector. It will be a useful discussion for clients and World Bank Group specialists working on risk-based capitalization in the financial sector.

Format
This 2-hour seminar hosted by FIRST Initiative will explore how the Bank and FIRST worked with an insurance regulator to develop a risk-based capital regime that is compliant with emerging international insurance standards. It makes particular reference to a FIRST project in Papua New Guinea that collaboratively developed a formula for assessing risk in the insurance sector. The seminar will discuss one method for developing the mathematics for measuring key insurance risk elements, and will apply this measurement to capital requirements in the insurance sector. It will highlight the interactive process between the Bank/FIRST, the client, and the insurance sector to build consensus about assessing risk. A perspective from the insurance regulator, presentation on the process, and technical note will accompany the seminar.

This will be a useful discussion to clients and World Bank Group specialists working on risk-based capitalization in the financial sector, and offers an approach that could be tailored to other country contexts.

FIRST SESSION:
  • This seminar will be web-cast live, and available for one month afterwords via the World Bank's Live Webcasting facility at http://vcg01.worldbank.org/vc/
  • In Washington, the seminar will be held from 10am-12pm on Wednesday, October 29th, 2008, in Room MC4-800, on the 4th floor of the World Bank MC Building, located at 1818 H Street, NW, Washington
  • In Abuja, the link will take place from 3pm-5pm local-time, in videoconference system-2. The location of the World Bank office in Abuja is: 102, Yakubu Gowon Crescent, Opposite Ecowas Secretariat, Asokoro District.
  • In Bogota, the link will take place from 9am-11am, local-time, in the "Cartegena Room". The location of the World Bank office in Bogota is: Carrera 7, No. 71-21, Torre A, piso 16, Edificio Fiduagraria, Apartado 10229.
  • In Dar es Salaam, the link will take place from 5pm-7pm local-time, in videoconference system-1, the small room. The location of the World Bank office in Dar es Salaam is: 50 Mirambo Street.
  • In Guatemala City, the link will take place from 8am-10am local-time, and the videoconference room is to be confirmed. The location of the World Bank office in Guatemala City is: Banco Mundial, 13 Calle 3-40, Zona 10, Edificio Atlantis, Piso 14.
  • In Kampala, the link will take place from 5pm-7pm local-time, in videoconference system-3, the primary large room. The location of the World Bank office in Kampala is: 1 Lumumba Avenue, Rwenzori House.
  • In Mexico City, the link will take place from 9am-11am, local-time, in videoconference system-1. The location of the World Bank office in Mexico City is: Insurgentes Sur 1605, Piso 24, San Jose Insurgentes.
  • In Nairobi, the link will take place from 5pm-7pm local-time, in videoconference system-1. The location of the videoconference at World Bank office in Nairobi is: 6th floor, Hill Park Building, Upper Hill Road.
  • In Rabat, the link will take place from 2pm-4pm local-time at the Ministry of Economy and Finance of Morocco.
  • In San Salvador, the link will take place from 8am-10am local-time, and the videoconference room is to be confirmed. The location of the World Bank office in San Salvador is: Banco Mundial, 3a Calle Poniente No. 4048, Entre 77 y 79 Ave. Nte, Colonia Escalon.

SECOND SESSION: (identical content, different connections)
  • In Washington, the seminar will be held from 8pm-10pm on Wednesday, October 29th, in Room H7-290, on the 7th floor of the World Bank "H" Building, located at 19th and G Streets, NW, Washington
  • In Bangkok, the link will take place from 7am-9am on Thursday, October 30th in videoconference room system-1. The location of the World Bank office in Bangkok is: 30th Floor, Siam Tower, 989 Rama 1 Road, Patumwan, Bangkok 10330.
  • In Beijing, the link will take place from 8am-10am on Thursday, October 30th, in videoconference system-2. The location of the World Bank office in Beijing is: 16th Floor, China World Tower 2, No. 1, Jian Guo Men Wai Avenue.
  • In Hanoi, the link will take place from 7am--9am on Thursday, October 30th, in videoconference room system-1. The location of the World Bank office in Hanoi is: 63 Ly Thai To, 8th Floor, Hoan Kiem District, Hanoi.
  • In Kuala Lumpur, the linke will take place from 8am-10am on Thursday, October 30th at the Bank Negara Malaysia.
  • In Jakarta, the link will take place from 7am-9am on Thursday, October 30th, in the primary videoconference room, system-1. The location of the World Bank office in Jakarta is: Indonesia Stock Exchange Building, Tower 2, 12th Floor, Sudirman Central Business District, Jl. Jendral Sudirman Kav. 52-53.