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Thursday, 13 October 2011 Divani Caravel Hotel

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Poker or Chess?

While Greece is experiencing unprecedented economic and regulatory conditions, the insurance market is facing several additional challenges. In this volatile environment, how will the future of the insurance industry be determined? Is surviving difficulties and expanding the business, a game of strategy, or a matter of luck? Is it poker, chess or both?

It looks as though 2012 will be a decisive year for the Greek insurance industry as well as for Greece as the structural reforms begin to take effect. In this turning point the priorities for the insurance companies are clear as they aim to gain access to the second pillar of the social security system, expand their market share, restore the valuations of investment portfolios and achieve compliance with Solvency II.

Now in its second year this event, organized once again by The Banker and FT Business, is viewed as a landmark for the industry, as a forum where senior Government officials, leading executives of insurance companies and recognized national and international experts share their views and insights on the options for reshaping the insurance sector and restoring confidence in it.

"The tactician knows what to do when there is something to do; whereas the strategian knows what to do when there is nothing to do"
Gerald Abrahams

Scientific contributor

Myrto Hambaki, Head of Financial Affairs & Life Branch, Hellenic Association of Insurance Companies (H.A.I.C.)

Confirmed speakers

Government Representatives:

Evangelos Venizelos, Minister of Finance, Greece
Andreas Loverdos, Minister of Health and Social Solidarity, Greece
Athina Dretta, Secretary General, Ministry of Labour and Social Security, Greece
Nicholas Polyzos, Secretary General, Ministry of Health and Social Solidarity, Greece
Charalampos A. Vogiatzis, Director, Department of Private Insurance Supervision, Bank of Greece, Member of the Board of Supervisors, EIOPA

International keynote speakers:

Amlan Roy PhD, Managing Director, Head, Global Demographics and Pensions Research, Credit Suisse Securities (Europe) Limited
Craig S. Phillips, Managing Director and Global Head, BlackRock Solutions New York

Industry representatives and experts:

Margarita Antonaki, General Manager, Hellenic Association of Insurance Companies (H.A.I.C.)
Vasiliki Drakou, General Secretary, Hellenic Insurance Brokers’ Association (HIBA), General Manager, Euromare AE
Leonidas Theoklitos, Deputy CEO, National Bank of Greece, President of the Board of Directors, of "The Ethniki" Insurance Company
Alexandros Sarrigeorgiou, Chairman, Life & Pensions Committee, H.A.I.C., CEO, EFG Eurolife Insurance
Miltiadis Nektarios, President of the BoD, International Life Group of Insurance Companies, Professor, University of Piraeus
Phaedon Tamvakakis, Vice-Chairman, Hellenic Fund and Asset Management Association, Vice Chairman & CEO, Alpha Trust Investment Services S.A., Director, Athens Stock Exchange Members' Guarantee Fund
Pericles Livas, CEO, International Life Group of Insurance Companies
George Veliotis, Member of the Health Committee, of the Hellenic Association of Insurance Companies (H.A.I.C.), Health Director, Interamerican Group
Nikos Delendas, General Manager of Sales and Training, EFG Eurolife Insurance
Vangelis Drossos, Distribution Director, Chartis Greece
Myrto Hambaki, Head of Financial Affairs & Life Branch, Hellenic Association of Insurance Companies (H.A.I.C.)
Christina P. Andrikopoulou, Head of Health Branch, Hellenic Association of Insurance Companies (H.A.I.C.)
Panos Minogiannis, President & CEO at St Savvas Athens Oncology Center, Lecturer at the Joseph L. Mailman School of Public Health of Columbia University New York
Andreas Kartapanis, Vice-Chairman, SEK (Association of Private Health Clinics), General Director, Hygeia Hospital
Athanasios Papamichos, Chairman of the Board, Hellenic Association of Health Services Management, Vice-President & Managing Director, Accurate health auditing and consulting
Valantis Elpidorou, Head of Analytics, Matrix SA
Michel Abbink, Partner, PwC UK
George Raounas, Partner, Advisory, IARCS / BPS, KPMG
Christos Pappas, Associate Partner, McKinsey & Company
Lambros Tsolkas, Partner, Accenture
Amalia Mofori, Senior Manager, Head of Actuarial Practice, PwC
Elpiniki Karabali, Insurance Sector Coordinator, Supervising Senior Advisor KPMG AE, Member of the Advisory Board – Greek market Representative, International Association of Financial Management (INTERFIMA)
Panagiotis Zampelis, Chairman, Hellenic Actuarial Association, President of the Hellenic Post Occupational pension fund, President & Managing Director, AON Hewitt
Alexandros Rafailides, Secretary General, Hellenic Association of Insurance Intermediary (HAII), Chairman Hellenic Federation of Independent Insurance Intermediaries (HEFEPI), exec. Vice-President, Safeline SA
Giannis Chatzakis, Country Chairman MDRT Greece 2008-2011, Secretary HFPA, Unit Manager Interamerican
Rita Christodoulatou, Vice President, Hellenic Financial Planners Association (HFPA), Managing Director, Life Planners Ltd.
Dimitris Gavalakis, Agency Manager, Vice-President of the Hellenic Association of insurance Agency Managers
Filopimin (Filis) Atheneos, Managing Partner, Atheneos 1911 Ltd.
Babis Papadimitriou, journalist, KATHIMERINI, SKAI

Conference Chairman:

Yuri Bender, Editor-in-chief, Professional Wealth Management (PWM) – Financial Times Publications

*awaiting final confirmation

Conference organizing committee

Marina Drakatou, Editor, "Private Insurance" magazine

Elpiniki Karabali, Insurance Sector Coordinator, Supervising Senior Advisor KPMG AE, Member of the Advisory Board - Greek market Representative, International Association of Financial Management (INTERFIMA)

Despina Travlou, Business Development Director, Boussias Communications

Highlights of the agenda

Session 1
The chessboard: Europe at a turning point

Session 2
Occupational Pensions, Private Pensions, Life Products: Stop shuffling the cards, start dealing

Session 3
New strategies in the "Solvency II chessboard": Make your openings, play against the clock

Session 4
Healthcare: A game for Poker pros, place your bets

Session 5
Distribution Channels: A multiplayer chess game of strategians vs tacticians; secure fair play

Athina Dretta Research Associate in Fixed Prosthodontics Division where she participated in educational and research activities (1988-1993). Coordinator of the "Dental Health in Albania" programme which was implemented in collaboration with the Foundation "Breath of Love" by the Archbishop of Albania Anastasios and funded by Interreg. She had a private practice (1988 to January 2010). In 2002 she has been elected as a Prefectural Advisor in Athens with the ballot "Prefecture of Citizens" led by Mrs Fofi Gennimata, Mr Giannis Sgouros and Mr Giannis Michas. She served as Associate Consultant for Veterinary and Agricultural Development in charge of monitoring the market.

Nicholas Polyzos Nicholas M. Polyzos is Associate Professor of Management and Organization of Health Services at the Democritus University. He also teaches in postgraduate programs in Management and Health Economics. He served as Vice President at the A.Technological Educational Institute of Kalamata, where he served as Associate Professor of Finance Department of Health Care Administration - Welfare.

Charalampos A. Vogiatzis He studied Economics at Athens University. He has also acquired a post graduate title in regional development. He has been employed by the Bank of Greece since 1980.From 1984 to 2010, he was employed in the banking supervision division. As from January 2011, he was appointed as Alternate Director of the Department of Private Insurance Supervision.

Amlan Roy PhD He is a Senior Research Associate of London School of Economics' Financial Markets Group and guest professor for London Business School's Finance department. In a previous role at Credit Suisse as a Global Emerging Markets strategist, Amlan developed multi-country Risk & Allocation models used by institutional clients, govt treasury departments and central banks. He also served as an expert on Financial Architecture/Crises Modelling at the Bank of England, IMF and UK Treasury. Prior to joining Credit Suisse in 1998, he had a distinguished university teaching career.

Craig S. Phillips Mr. Phillips has over 30 years of experience across a wide range of securitized products and asset-based financial markets, including residential and commercial mortgages, asset-backed securities, CDO's and other credit derivatives. In addition, Mr. Phillips is a member of BlackRock's Global Operating Committee and the Operating Committee for BlackRock Solutions.

Margarita Antonaki She is a mathematician - actuary with master studies on Business research and Computer science and long experience in the Private Insurance sector. She has served the Ministry of Commerce as head of Financial and Audit of Insurance Companies and has also worked as the General Manager of the Commercial Union Life Company.

Vasiliki Drakou She studied Business Administration and holds a B.Sc degree in the fields of Marketing and Management and Organizational Behavior. In 1996 she obtained a degree from the Life Underwriting Training Council. She speaks English and German. Her professional career began in 1993 with Interamerican. She is a founding member of Euromare Insurance Broker SA and serves as General Manager and member of the Board of Directors from 1996 to date. She is a member of the Association of Representatives and Executives of Insurance Companies and The Association of Chief Executive Officers.

Leonidas Theoklitos Leonidas Theoklitos born 1961, was appointed Deputy CEO and a member of the NBG Board of Directors, in November 2010. He is a member of the NBG Executive Committee and he has served as Group Chief Operating Officer from August 2010. In March 2010 he joined the NBG Group as Chairman of the Board at Ethniki Insurance Co.

Alexandros Sarrigeorgiou After three years as Financial Analyst at Owens Corning Fiberglas and seven years in various positions reaching the level of Senior Vice President in Jefferson Insurance Group (Allianz Group Companies) in the USA, he moved to Athens in 1992 where he worked as General Manager of the Allianz Group of Greece and as Group CFO until 1999. From 1999 until 2004 he was the Managing Director and CEO of the Allianz Group of Greece and Chairman and Managing Director of Allianz Dresdner Asset Management, Hellas. Since 2004 he is the Managing Director & CEO of the EFG Eurolife Insurance Group and Chairman of EFG Insurance Services.

Pericles Livas He has received a Degree from the Athens Univeristy of Economics and Business. He has been working in International Life Group since 1975. Prior to his current position, he was the Claims Supervisor in the Group Life Insurance Department in RAS ADRIATICA, Manager in the Personal Accidents Division of RAS ADRIATICA, Division Manager & Underwriter, Manager in the Life Insurance section, accidents & illnesses of RAS ADRIATICA, Manager in the Life Insurance Section of International Life General Insurance Company S.A. and General Manager of International Life, Life Insurance Company S.A.

George Veliotis Dr. Veliotes qualified as a Medical Doctor in South Africa and performed his internship and postgraduate training at Baragwanath hospital, Johannesburg. Dr. Veliotes has designed and developed several managed care systems and has headed and chaired various positions in health care. In 1997 he joined Interamerican Greece for the successful implementation of Medisystem, the first managed care program in Greece and subsequently played an active role in development of new hospitals, group practices and managed care projects in Greece and Romania.

Nikos Delendas He graduated from the Athens University of Economics and Business (AUEB) and holds Master's degrees in Insurance studies from universities in Germany and USA. Since 2006 he holds the position of General Manager of Sales and Training of EFG Eurolife Insurance.

Vangelis Drossos Member of Senior Management Team since 2004, Responsible for Distribution, Agency Training, Corporate Marketing & Corporate Communication. General Manager of "Euromerchant Insurance Brokers", a JV of AIG, Alico & Euromerchant Bank, from 1992 to 1998. AIG Greece Strategic Planning manager from 1998 to 2004, Chartis Distribution Director since 2004.

Myrto Hambaki She graduated from Leicester University (UK) and holds a Bachelor's degree in Economics (B.A) and a Master’s Degree in European and Federal Studies (M.A) with specialization in diplomacy. She holds a Diploma in Business Administration from the Industrial Training Authority of Cyprus. She is a member of the Association of Certified & Charted Accountants (ACCA) and a member of the Global Association of Risk Professionals (GARP). Over the past 16 years, she has worked in the financial sector. She is a member of CEA Solvency Steering Committee and CEA Life Committee.

Panos Minogiannis Panos Minogiannis earned his PhD from Columbia University in 2001. He is the recipient of the 2001 Marisa de Castro Benton Award for outstanding dissertation for his thesis on European Integration and Health Policy. Since March 2010, he serves as the CEO and President of the Board for the Athens Oncology Center "St. Savvas".

Andreas Kartapanis Andreas Kartapanis studied Business Administration at Athens University of Economics and Business. Since March 2008, he is the General Manager of Diagnostic and Therapeutic Center of Athens HYGEIA S.A., and also from last September CEO of Maternity and General and Pediatric Hospital, MITERA SA.

Athanasios Papamichos Athanasios Papamichos has an academic background in the Organisation, Management and Health Economics. He holds an MSc in Health Policy, Planning and Financing from the London School of Economics and the London School of Hygiene and Tropical Medicine. He also holds a PhD in the "Organisation and Management of Health Care Services in major athletic events: The case of the Olympic Village Polyclinic during the Athens 2004 Olympic Games" from the University of Peloponese.

Valandis Elpidorou He graduated from the Wisconsin Business School of the University of Wisconsin-Madison in 1998 with a BBA in Actuarial Science with highest distinction.He launched his career as Capital Modeller at the Corporate Actuarial Department of CIGNA Corp. Returning to Cyprus in 2002 he held various senior management positions at Atlantic Insurance Company where he worked until 2009. He is an associate of the Insurance Institute of America with various designations.

Michel Abbink Michel Abbink is a Partner in PwC’s UK firm. His areas of practice have concentrated around financial reporting and enterprise risk management. Solvency II was a major focus of his role at Watson Wyatt and continued to be at Swiss Re, where Michel took on the additional responsibility for the internal model development in Admin Re UK.

George Raounas Mr. Raounas has 28 years of professional experience out of which 22 years in the advisory business. He is a Partner in the Business Advisory Services division of KPMG in Greece, responsible for Internal Audit Risk & Compliance, Business Performance and Accounting Advisory Services. His area of expertise is Banking and Finance. Mr. Raounas is the Vice President of the Hellenic Association of Management Consulting Firms, Treasurer of the Hellenic–Serbian Union of Commerce and Industry, member of the Greek Institute of Management and its Leadership Sector, the Global Association of Risk Professionals (GARP), the Association of Greek Physicists, etc.

Christos Pappas Christos joined McKinsey in 2001 and has been serving clients primarily in the financial services industry, with an emphasis on organization, operations, change management and regulatory management. Christos moved to New York in 2007 where he served large Private Equity firms on transactions targeting financial services companies. Since his return to Athens, Christos has focused his work on performance transformation (commercial, operational and organizational) leading change programs for large institutions. Prior to joining McKinsey Christos worked for E.I. du Pont de Nemours and Co. and the Tesmec Group.

Lambros Tsolkas Lambros Tsolkas is an Accenture Partner and Vice President of Accenture in Greece. He has over 20 years of professional experience in large organization and operating model transformation programs. He has extensive experience in the insurance industry having participated as expert in various large projects in Greece and international.

Amalia Mofori Amalia Mofori is the leader of the Actuarial Practice in PwC Greece. She is a Qualified Fellow of Institute of Actuaries (FIA), has an MSc in Actuarial Science from City University London(Dissertation: "Introducing IFRS in the greek life insurance market" ) as well as a BA in Mathematics from the University of Athens.

Elpiniki Karabali Elpi Karapali is the Insurance Sector Coordinator as a Supervising Senior Advisor at KPMG Advisors AE. She had been working for the Greek Institute of Insurance Education the institutional training and certification body of the Greek Association of Insurance Companies for 22 years, of which the last three she has been the General Manager of the Institute. She has been responsible for the communication and cooperation with institutional bodies such as the Hellenic Bank Association and the Greek Banking Institute, the Chartered Insurance Institute of England, the Ecole Nationale d'Assurances - France, the Insurance Institute of Cyprus.

Panagiotis Zampelis He is a certified actuary for Greece and Cyprus. For several years he worked for insurance companies in the Greek market. Now he is Chairman & Managing Director of AON Hewitt (Greece). He has been involved both in the private insurance and pension fields.

Alexandros Rafailides He belongs to one of the oldest insurance families in Greece. After graduating the Economics University of Athens (ASOEE), he worked as a trainee in various insurance houses in London. He has published various articles about Insurance Intermediation.

Giannis Chatzakis He works as financial advisor since 1996 collaborating with Interamerican insurance company. In 2008 he started the creation of a group as a Unit Manager. He applies the methodology of financial analysis of clients’ needs, having elaborated hundreds of studies of financial planning. He is a founding member and secretary of HFPA (Hellenic Financial Planning Association) and he attended many conferences of the international organization FPA (Financial Planning Association) in America.

Rita Christodoulatou She is working in insurance and investment field since 1992. She holds BA, Diploma in Insurance and Finance, from Middlesex University, and she has attended upper-level seminars in Pantio University and attended a great number of conferences in Europe and in USA. Her previous professional activity was developed in the area of multinational certified auditors.

Dimitris Gavalakis Entered the Life insurance industry in 1991 with ALICO (MetLife ALICO) as an agent. Recruited by Commercial Union Life and quickly promoted to Unit Manager in 1996. Promoted to Branch Manager in 2000. In 2009 appointed as Deputy Director of Sales for Commercial Value. In 2010 he and his colleagues set up a Life and General Insurance broker company, "L. P. Insurance" Diploma of LUTCF of "T.A.C." and LIMRA participation diploma.

Filopimin (Filis) Atheneos Filis Atheneos continues a century-old family tradition in the insurance market, having served in various top management positions. He currently manages one of the top producers of international healthcare insurance in Greece cooperating with BUPA, AXA PPP etc. Filis is a member of the New Technologies Committee of the Association of Representatives and Executives of Insurance Companies.

Babis Papadimitriou Babis Papadimitriou is a journalist working as senior editor and commentator in SKAI TV and radio. He is also a columnist in KATHIMERINI newspaper. He studied Economical Sciences in Paris and he has been cooperating occasionally with the Ministry of Finance, the Bank of Greece and some of the major Greek Banks.

Yuri Bender Ηe is a financial journalist specialising in asset management, private banking and capital markets. He joined the Financial Times group in 1992, launching the pan-European magazine and website Professional Wealth Management in 2001, followed by PWM Asia in 2008 and remains editor-in-chief of both.