Mack participated in the CNSF International Seminar in Mexico City, November 16, 2017

The CNSF (Comisión Nacional de Seguros y Fianza) convened the 26th International Seminar on Insurance and Surety “Materializstion of Future in Insurance and Surety” in Mexico City, Mexico, Santiago on October 25-28, 2016.
El 16 de noviembre se llevó a cabo la edición número veintisiete del Seminario Internacional de Seguros y Fianzas: la “Materialización del futuro en los seguros y las fianzas”, organizado por la Comisión Nacional de Seguros y Fianzas (CNSF)

CNSF official website

The seminar was attended by renowned experts from Chile, the United States of America, India, Switzerland and Mexico, as well as 300 attendees, mainly managers from the Mexican insurance and surety sectors, and CNSF officials, where participants discussed issues to be addressed for the growth and development of the insurance and surety sectors, including challenges and prospects of pension and medical expenses insurers; the application and regulation of distributed record / Blockchain technology.

Agenda of the 26th CNSF International Seminar in Mexico City

(Photo source: CNSF)

Mack made a keynote address on the insurers’ long-term investments to support sustainable growth and key regulatory and accounting issues with focus on impact of ICS and IFRS17.

(Photo source: CNSF)

After summarizing different implications of IFRS in 28 economies, impersonating respective English accents as an icebreaker,
he shared APFF (Asia-Pacific Financial Forum)’s activities to promote long-term investments by insurers and pension funds to support sustainable, resilient and inclusive growth of the Asia Pacific region.

(Photo source: CNSF)

He identified some key regulatory issues, such as including bank-oriented requirements, short-term oriented economic regimes, and one-size-fits-all models, and accounting issues, such as volatility in balance sheet, income statements and remaining technical issues (level of aggregation, scope for variable fee approach and transition). He also shared some examples in Japan expanding long-term ESG investments under low interest environment, and his insight on what we can learn from ancient oriental philosophers.

Presentation of Mack Okubo at CNSF Seminar in Mexico City

(Photo source: CNSF)
(Photo with Ms. Norma Alicia Rosas Rodríguez, President of la Comisión Nacional de Seguros y Fianzas)

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