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INTERNATIONAL INSURANCE SOCIETY2011 ANNUAL REPORTMESSAGE FROM THE CHAIRMAN AND PRESIDENT & CEO 2-3PRINCIPAL ACTIVITIES ..................................................... 4-5MEMBERSHIP 6-17IIS GLOBAL REPRESENTATION ............................................ 8MEMBER COMPANIES .......................................................... 9IIS GLOBAL MEMBERS ................................................... 10-11IIS CORPORATE MEMBERS ........................................... 12-14BOARD OF DIRECTORS ................................................. 16-17SEMINAR 18-27TORONTO SEMINAR PROGRAM ..................................... 20-21RIO SEMINAR PROGRAM ............................................... 22-23SEMINAR HISTORY ............................................................ 24DIGNITARIES & NOTABLE KEYNOTE SPEAKERS ................. 252011 TORONTO SEMINAR SPEAKERS ................................. 26IIS AWARDS PROGRAM 28-37THE INSURANCE HALL OF FAME ................................... 30-31PAST INSURANCE HALL OF FAME LAUREATES .............. 32-33THE JOHN S. BICKLEY FOUNDER'S AWARD ........................ 34IIS HONORS AWARDS ........................................................ 35SHIN RESEARCH EXCELLENCE AWARDS ........................... 36RESEARCH PROGRAM CHAIR & JUDGES ........................... 37IIS AMBASSADOR ROSTER ............................................ 38-39CREDITS ............................................................................ 40

MESSAGE FROM THE CHAIRMAN AND PRESIDENT & CEOThe global insurance industry faced numerous challenges in 2011, seeking to maintain its financial strength duringthe global financial slowdown while addressing policymakers' desire for a wave of new regulation. While there were afew bright spots in terms of growth, notably in Asia, Latin America and the Middle East, the industry's historic marketdrivers North America and Western Europe remained mired in a serious economic slowdown. Nonetheless regulatorsand politicians pressed for more stringent solvency standards and financial reporting requirements, promising to addcosts and complexity to the industry.We would be remiss if we did not extend our deepest gratitude to our members for their active participation. Their inputand efforts enable us to better serve them and the industry. Special thanks to our board members, whose wise counseland support, make our contributions to the industry possible.Insurers welcome the notion of better regulation of solvency, market conduct and other issues. They are concerned,however, that more regulation has not always proven to be better regulation. After all, insurance companies demonstratedduring the financial crisis that compared to banks, their source of funding – premiums versus commercial paper anddeposits – and their asset quality – highly rated, liquid securities versus loans and other illiquid assets – has shownto be superior. A run on insurers' funding base simply can't happen. Insurers' balance sheets are structurally superior.The industry is therefore justifiably worried that policymakers' tendency to lump banks and insurers together mightresult in punitive and unfair treatment.As the global insurance industry continues to navigate these treacherous waters, the IIS maintains its commitment toenhance the cross border exchange of ideas and strategies to meet its members' needs and those of the industry as awhole. Inclusive by design, the IIS serves as the only forum for the key stakeholders of the industry – insurers, regulatorsand scholars, represented by the three strands of rope that are bound together on our cover – to collaborativelyembark on identifying solutions for the benefit of the global industry and by extension, society as a whole. Diversity inour membership is our founding principle; it is inclusivity that has fortified the IIS and fosters an industry that advancesthrough the strength of global connection.Norman R. SorensenIIS Chairman of the BoardChairman - International Advisory CouncilPrincipal Financial GroupMichael J. MorrisseyIIS President and Chief Executive Officer101 Murray Street, New York, NY 10007-2165 USATel: +1 212.815.9290 | Fax: +1 | www.InsuranceHallofFame.org2 | MESSAGE FROM THE CHAIRMAN AND PRESIDENT & CEO MESSAGE FROM THE CHAIRMAN AND PRESIDENT & CEO | 3

BUILDING ON THE PAST,EMBRACING THE FUTURE…The International Insurance Society, founded in 1965, provides a forum for leading insurance professionals to shareinterests and ideas on timely global issues. The IIS is the largest and most prestigious organization of its kind withalmost 900 members from 90 countries representing global insurance leaders, international regulatory authorities andworldwide insurance scholars - a synergy that is truly unique.The IIS Annual Seminar is the leading international gathering for the insurance community drawing attendance from500+ insurance leaders representing over 50 countries and all sectors of the industry. Considered a must-attendevent, the IIS seminar offers a one-of-a-kind opportunity to exchange ideas with a collaborative goal of identifyinginnovative solutions to business issues towards commercial profitability and development. The seminar is renownedfor quality programs featuring leading industry speakers and unparalleled networking opportunities with global peers.The significance of our industry and the critical role it performs in establishing and developing sustainable globaleconomies is paramount. We recognize our industries’ advancements and contributions to society by honoring thevisionary leaders of our industry through the Insurance Hall of Fame, the industry’s most prestigious honor. The awardis presented at an exclusive gala dinner during the Seminar.Our commitment to the advancement of insurance education is exemplified through the Shin Research ExcellenceAwards, a joint program of the IIS and The Geneva Association that encourages practical and original studiesaddressing critical issues facing the insurance industry.Through our website,, IIS members enjoy unlimited access to robust industry resources and offersmany features, exclusive to members:> IIS MEMBER FORUMan interactive exchange of ideas and business strategies> INDUSTRY EVENT CALENDARa dynamic resource of global industry events> GLOBAL INSURANCE DIRECTORYaccess to data from 170+ countries> GLOBAL NEWSLINKdaily insurance news updates> IIS GLOBAL 100 STOCK INDEXperformance valuation of the top international insurers> IIS RESEARCH REVIEWmonthly industry research reports> REGULATORY ALERTSupdates on regulatory statutes across the globe> LEADERSHIP IDEA EXCHANGEcommentary from global insurance leadersThe mission of the IIS… to serve as a conduit to the global insuranceindustry, facilitating an exchange of ideas and information towardsthe innovation and advancement of the industry… has never been morerelevant. Inclusiveness and diversity are distinguishing characteristics of theIIS which enable us to serve as the global resource for the insurance community.PRINCIPAL ACTIVITIES | 5

IIS GLOBAL REPRESENTATIONMEMBER COMPANIESArgentinaAustraliaBahrainBarbadosBelgiumBermudaBhutanBrazilCanadaChileCyprusEl SalvadorFranceGambiaGermanyGreeceHong KongIndiaIndonesiaIsraelJamaicaJapanJordanKoreaKuwaitLatviaLebanonMalaysiaMexicoMoroccoFOR MEMBERSHIP DETAILS VISITwww.IISonline.orgNetherlandsAntillesNigeriaPeople’s Republic of ChinaPhilippinesPolandPortugalPuerto RicoQatarRepublic of KazakhstanRussian FederationSaudi ArabiaSingaporeSpainSwitzerlandTaiwanThailandUnited Arab EmiratesUnited KingdomUnited StatesA.M. BestABN AMROAbu Dhabi National InsuranceAccess Capital PartnersACE GroupACORDADFIZAEGISAEGONAFLACAgnitti InsuranceAhold InsuranceAIAAl Ain AhliaAllianzAlltrustAlpha LloydsAlterraAmerican Contractors InsuranceAonAplazaAquilineArab Insurance GroupArchArgo GroupArope InsuranceAseguardora Agricola ComercialAssociation of Bermuda Insurers andReinsurersAssociation of British InsurersAssuraliaAssured GuarantyAvivaAXAAxcoAXISAyalonBach, Langheid & DallmayrBahrain Institute of Banking and Finance(BIBF)Baird MacGregorBangkok InsuranceBank of Nova ScotiaBank Taiwan LifeBanku Augstskola School of Businessand FinanceBarry & NilssonBlue Cross LifeC.V. StarrCapemisaCatalana OccidenteCathay CenturyCatlin GroupCentauro Vida e PrevidenciaCentral ReinsuranceChartered Insurance Institute (CII)ChartisChedid Europe ReinsuranceChihlee Institute of TechnologyChiltington InternationalChubbChunghwa PostCicsa ReCity University of Hong KongClearView WealthCNO FinancialCNsegColodney, Fass, Talenfeld, Karlinskinsky,& AbateCologne University of Applied SciencesCommunity Association Underwriters ofAmericaContinental ReCooperativa Seguros Multiples dePuerto RicoCPCU SocietyCrystalife AssuranceCustodian & AlliedD.L. Deeks Insurance ServicesDai-ichi LifeDe Goudse.DeloitteDelta LloydDesjardins GroupDewey & LeBoeufDMB RechtsschutzDutch Association of InsurersEdward J. Muhl InsuranceErnst & YoungEurasiaEUREKOEuroamerica Seguros de VidaFairfaxFalconFasken Martineau DuMoulinFields InstituteFinancial Casualty and SuretyFinancial Supervisory CommissionFirst InsuranceFlorida State UniversityFoong Sheng InsuranceFTI ConsultingFubon LifeFundacao Getulio VargasGambia National InsuranceGAREXGeneral Insurance Association of KoreaGeneraliGeorgia State UniversityGerman Insurance Association (GDV)GNAIEGNPGreat Eastern LifeGreat Life FinancialGreat Pacific LifeGriffith FoundationGrupo BalGulf Insurance InstituteGulf ReGuy CarpenterHannover Life ReHDI-GerlingHeidrick & StrugglesHeuking Kuehn Lueer WojtekHogg Robinson NigeriaHSBC InsuranceICICI LombardICWI GroupILS Capital ManagementIMC - University of Applied ManagementSciences KremsInsurance Business ConsultingInsurance Commission of JordanInsurance Corporation of BarbadosInsurance Information InstituteInsurance Institute of CanadaInsurance Institute of SwitzerlandInsurance Market ConferencesInsurance Services OfficeInternational LifeInternational Risk Management InstituteIntsure Technology SolutionsISMIE MutualItau UnibancoJ. D. Power & AssociatesJacobs Executive AdvisorsJames P. CorcoranKatten Muchin RosenmanKay InternationalKorea Insurance InstituteKorea Life Insurance AssociationKorean ReKorn/Ferry InternationalKPMGKyobo LifeLa CapitaleLane McVickerLeadway AssuranceLiberty Mutual GroupLiberty Seguros,Life Insurance Association of theRepublic of ChinaLime Street PublicationLloyd’s AmericaLudwig-Maximilians UniversityMagna Carta CompanyMalayan GroupMalaysian Insurance InstituteMalaysian ReManulife FinancialMAPFREMarsh & McLennanMassMutualMcCarthy TetraultMcQueary Bowles TroyMeiji YasudaMicro Insurance AcademyMiddle East InsuranceMillimanMitsui SumitomoMNRB HoldingsMonetary Authority of MacauMotor Vehicle Accident CompensationFundMunich ReNAICNathan & PartnersNational Association of ProfessionalSurplus LinesNational Insurance Conference ofCanadaNest Holdings and Trust HoldingsNew York LifeNigerian Life & ProvidentNippon LifeNissay DowaNon-Life Insurance Association of theRepublic of ChinaNTUC Income Insurance Co-OperativeOliver WymanOlivet CollegeOmega General InsuranceOmega InsuranceOnepath AustraliaOraclePan American LifeParis RePartner RePolish Chamber of InsurancePozmantier Williams InsuranceConsultantsPoznan University of EconomicsPricewaterhouseCoopersPrinceton PartnershipPrincipal Financial GroupProSight Specialty UnderwritersPrudential Guarantee & AssurancecPT Asuransi MAIPARKPT Asuransi Rama Satria WibawaQatar Financial Centre AuthorityQatar Financial Centre RegulatoryAuthorityQatar Insurance ServicesQBERBCReinsurance Arbitration & ConsultingReliable LifeRenaissance ReRGARGA International ReinsuranceCompanyRLIRockville Risk ManagementRoyal Exchange PrudentialRoyal Insurance Corporation of BhutanRyan Specialty GroupS.B. Insurance BrokersSamsung LifeSamsung Social CommissionSaudi ReSchool of Risk Management, St. John’sUniversitySCORSecuraSeguros AtlasServco InsuranceShin Kong LifeSima Ventures ServicesSociété Centrale de RéassuranceSolstice Investment ResearchSompo JapanSony LifeSterling AssuranceStikeman ElliottSumitomo LifeSun LifeSwiss ReTaiwan Insurance InstituteTaiwan Residential EarthquakeInsurance FundTakaful ReTALTalent & ProTD Bank FinancialTel Aviv UniversityThe Company of the Medical InsuranceSociety “Panacea”The Geneva AssociationThe InstitutesTowers WatsonTsar & Tsai LawUltimate Risk SolutionsUnited Educators InsuranceUniversité Paris 1 - Panthéon SorbonneUniversity of AlabamaUniversity of BathUniversity of GeorgiaUniversity of HoustonUniversity of Louisiana at LafayetteUniversity of NottinghamUniversity of Texas at AustinUniversity of ViennaUniversity of Wales SwanseaUniversity of Wisconsin-MadisonUNUMValidusVoogd & VoogdVorys, Sater, Seymour and PeaseVVP, Weekly MagazineWAFA AssuranceWARBA InsuranceWellington ManagementWhittington GroupWillis GroupWorkplace Safety & Insurance Board ofOntarioXL GroupY.O.A. Insurance BrokersZurich Insurance8 | MEMBERSHIP MEMBERSHIP | 9

IIS GLOBAL MEMBERSBERMUDAGERMANYUNITED KINGDOMUNITED STATES cont.UNITED STATES cont.UNITED STATES cont.ACE GroupEvan G. GreenbergChairman and Chief Executive OfficerKPMGFrank EllenbuergerPartner, Global Head of InsuranceErnst & YoungShaun CrawfordGlobal Insurance Sector LeaderKorn/Ferry InternationalMichael F. MagsigManaging DirectorOliver WymanRamy TadrosPartner, Head of North America InsuranceTowers WatsonPatricia L. GuinnManaging DirectorArgo Group International Holdings, Ltd.Mark E. Watson IIIChief Executive OfficerJAPANPricewaterhouseCoopersDavid LawGlobal Insurance LeaderMarsh & McLennan Companies, Inc.Brian DuperreaultPresident and Chief Executive OfficerPrincipal Financial GroupNorman R. SorensenChairman - International Advisory CouncilWellington Management CompanyRichard CoffmanBusiness Development ManagerMeiji Yasuda Life Insurance CompanyXL Group plc.Michael McGavickChief Executive OfficerIchiro WakasaManaging Executive OfficerUNITED STATESMilliman Inc.Bruce W. WinterhofPractice DirectorRyan Specialty GroupPatrick G. RyanChairman and Chief Executive OfficerCANADANippon Life Insurance CompanyIkuo UnoExecutive Advisor to the BoardACORDGregory A. MaciagPresident and Chief Executive OfficerManulife FinancialDonald GuloienPresident and Chief Executive OfficerThe Dai-ichi Life Insurance Company, Ltd.Katsutoshi SaitoChairmanChartisNicholas C. WalshVice Chairman and Chief Distribution OfficerNETHERLANDSRBC InsuranceNeil SkeldingPresident and Chief Executive OfficerDeloitteJoseph GuastellaPrincipal - Global Insurance LeaderMEMBERSHIPWe welcomed 55 new members to IIS this year, including the following new Global and Corporate members:*Titles and affiliations may not reflect subsequent modifications.AEGON N.V.Alexander WynaendtsChief Executive Officer and Chairman of theExecutive and Management BoardDewey & LeBoeuf LLPPeter SharpPartnerGLOBAL MEMBERSACE GroupArgo Group InternationalHoldings, Ltd.Dewey & LeBoeuf LLPRyan Specialty GroupThe Dai-ichi Life InsuranceCompany, Ltd.CORPORATE MEMBERSAlterra Capital Holdings, Ltd.Arch Capital Group, Ltd.Assured Guaranty LtdGenerali USA Life ReassuranceCompanyGoldberg SegallaICICI Lombard General InsuranceCompany, Ltd.Lane McVicker, LLCRenaissance Re Holdings, Ltd.Seguros Atlas, S.A.Tower Australia Group, Ltd.Willis Re International, Willis Group10 | MEMBERSHIP MEMBERSHIP | 11

IIS CORPORATE MEMBERSAUSTRALIABRAZIL cont.HONG KONGJORDAN cont.NETHERLANDS cont.SINGAPOREQBE Insurance Group, Ltd.Frank M. O’HalloranChief Executive OfficerTAL Ltd.James R. MintoGroup Managing DirectorBAHRAINArab Insurance Group - ARIGYassir AlbaharnaChief Executive OfficerBERMUDAAlterra Capital Holdings, Ltd.W. Marston BeckerChairman and Chief Executive OfficerArch Capital Group, Ltd.John C.R. HeleExecutive Vice President and Chief Financial OfficerAssured Guaranty Ltd.James M. MichenerGeneral CounselAXIS Capital Holdings, Ltd.John CharmanChief Executive Officer and PresidentPartner Re Ltd.Costas MiranthisPresident and Chief Executive OfficerRenaissance Re Holdings, Ltd.Neill A. CurriePresident and Chief Executive OfficerValidus HoldingsEd NoonanChairman and Chief Executive OfficerBHUTANRoyal Insurance Corporation ofBhutan Ltd.Namgyal LhendupChief Executive OfficerItau UnibancoOsvaldo Do NascimentoExecutive DirectorCANADAFairfax Financial Holdings, Ltd.Jean CloutierVice President – International OperationsRGAGary ComerfordExecutive Vice President and Chief Marketing OfficerSun Life Financial CanadaDean A. ConnorChief Executive OfficerTD Bank Financial GroupBernard T. DorvalDeputy Chair, TD Canada Trust, Group Head, GlobalInsurance, Head of Group StrategyCHILEEuroamerica Seguros de Vida S.A.Nicholas Andrew DavisDirectorCYPRUSChedid Europe ReinsuranceBrokerage, Ltd.Farid ChedidManaging DirectorFRANCEOracle EMEAJohn SinclairInsurance Marketing DirectorSCORDenis KesslerChairman and Chief Executive OfficerGERMANYFalcon Insurance Company (HongKong) Ltd.Gobinath AthappanChief Executive OfficerHSBC Insurance (Asia-Pacific)Holdings, Ltd.Marcelo TeixeiraChief Executive OfficerINDIAICICI Lombard General InsuranceCompany, Ltd.Bhargav DasguptaManaging Director and Chief Executive OfficerISRAELAyalon Insurance Company, Ltd.Levy RachmaniManaging Director and Chairman of the BoardJAMAICAICWI Group, Ltd.Dennis H. LalorChairmanJAPANMitsui Sumitomo InsuranceCompany, Ltd.Takeo InokuchiSenior AdvisorNissay Dowa General InsuranceCompany, Ltd.Masao OkazakiChairmanSompo Japan Insurance Inc.Masami TakahashiDirector, Managing Executive OfficerSumitomo Life Insurance CompanyShinichi YokoyamaChairmanNest Holdings and Trust HoldingsGhazi Kamel Abu NahlGroup ChairmanKOREAGeneral Insurance Association of KoreaJae-Woo MoonChairmanKorea Life Insurance AssociationGyu-bok KimChairman and Chief Executive OfficerKyobo Life Insurance Company, Ltd.Chang-Jae ShinChairman and Chief Executive OfficerSamsung Life Insurance Company, Ltd.Keun-Hee ParkPresident and Chief Executive OfficerSamsung Social CommissionDae-Sub ChiPresidentKUWAITWARBA Insurance Company, K.S.C.Tawfik Al BaharGeneral ManagerLEBANONArope Insurance S.A.L.Fateh W. BekdacheVice Chairman and General ManagerMEXICOGrupo Nacional ProvincialAlejandro BailleresDirector GeneralSeguros Atlas, S.A.C. P. Rolando Vega SaenzPresidentDelta Lloyd N.V.N.W. (Niek) HoekChairman of Executive Board and Chief ExecutiveOfficerDutch Association of InsurersRichard WeurdingDirectorEUREKODanny van der EijkMember Executive BoardPEOPLE’S REPUBLIC OF CHINAAlltrust Insurance Company ofChina Ltd.Henry DuChairmanPHILIPPINESMalayan Group of InsuranceCompaniesYvonne S. YuchengcoPresidentPrudential Guarantee & Assurance Inc.,PGA Sompo Japan Insurance, Inc.Robert G. Coyiuto, Jr.Chairman and Chief Executive OfficerPUERTO RICOCooperativa Seguros Multiples dePuerto RicoRoberto Castro HiraldoPresidentQATARQatar Financial Centre AuthorityAkshay RandevaDirector, Re-Insurance and CaptivesREPUBLIC OF KAZAKHSTANAviva PLCSimon MachellChief Executive Officer, Emerging MarketsGreat Eastern Life AssuranceCompany, Ltd.Christopher WeiChief Executive OfficerSPAINMAPFRE S.A.Antonio Huertas MejíasChairman and Chief Executive OfficerRGA International ReinsuranceCompanyEduardo DoradoChairman Iberian Peninsula and Senior VicePresident InternationalSWITZERLANDZurich Insurance CompanyPeter BuombergerGroup Head Government and Industry AffairsTAIWANBank Taiwan Life InsuranceCompany, Ltd.Fu-Deng HsiehPresidentCathay Century InsuranceCompany, Ltd.Jung-Hsien (Woody) HsuPresidentCathay Life Insurance Company, Ltd.Ming-Ho HsiungPresidentCentral Reinsurance CorporationCheng-Tui YangChairmanChunghwa Post Company, Ltd.Charng-Hwa ChenDirector, Dept. of Life InsuranceBRAZILBrazilian Insurance Confederation(CNseg)Jorge Hilario Gouvea VieiraPresidentAllianz SEVolker DevilleExecutive Vice PresidentMunich Reinsurance CompanyLudger ArnoldussenMember of the Board of ManagementJORDANInsurance Commission of JordanRana TahboubActing Director GeneralNETHERLANDSDe Goudse N.V.Michel LamieChairman of Executive BoardEurasia Insurance CompanyBoris Grigorevich UmanovChairman of the BoardFinancial Supervisory CommissionTien-Mu (Thomas) HuangDirector General, Insurance BureauMass Mutual Mercuries LifeInsurance CompanyRoy MengPresident and Chief Executive Officer*Titles and affiliations may not reflect subsequent modifications.12 | MEMBERSHIP MEMBERSHIP | 13

IIS CORPORATE MEMBERSMotor Vehicle AccidentCompensation FundFu-Yuan KaoPresidentNew York Life Insurance TaiwanCorporationDanny LamPresident and Chief Executive OfficerUNITED KINGDOM cont.Catlin Group, Ltd.Stephen CatlinChief Executive Officer and Deputy ChairmanGoldberg SegallaClive O’ConnellPartnerUNITED STATES cont.RLI CorporationJonathan E. MichaelPresident and Chief Executive OfficerSwiss Re AmericasJ. Eric SmithPresident and Chief Executive OfficerShin Kong Life InsuranceCompany, Ltd.Hsiung Chi TsaiChief Executive OfficerTaiwan Insurance InstituteMark C. C. LaiChairmanTaiwan Residential EarthquakeInsurance FundWarren ChangPresidentThe First Insurance Company, Ltd.Richard Chen-Hun LeeChairmanThe Non-Life Insurance Associationof the Republic of ChinaKer Hsing ShaSecretary GeneralUNITED ARAB EMIRATESAbu Dhabi National InsuranceCompany (ADNIC)Walid A. SidaniChief Executive OfficerAlpha Lloyds Insurance Brokers, LLCKhaldoun S.K. KhartabilChief Executive OfficerGulf Reinsurance Ltd.Michael GertschPresident and Chief Executive OfficerTakaful Re, Ltd.Chakib AbouzaidChief Executive OfficerWillis Re International, Willis GroupJames VickersChairmanUNITED STATESACE GoupJohn KeoghChairman, ACE Overseas General and ViceChairman, ACE LimitedAEGIS Insurance Services, Inc.Alan J. MaguirePresident and Chief Executive OfficerAFLAC Inc.Kriss Cloninger IIIPresident and Chief Financial OfficerAssured Guaranty Ltd.Howard W. AlbertManaging Director and Chief Credit OfficerC.V. Starr CompaniesHoward SmithVice Chairman, FinanceFairfax Insurance GroupAndrew A. BarnardPresident and Chief Operating OfficerFTI ConsultingRichard HershmanSenior Managing DirectorGenerali USA Life ReassuranceCompanyChristopher J. CarnicelliChairman and Chief Executive OfficerLane McVicker, LLCH. Keith McVickerPresident and Chief Executive OfficerThe Chubb CorporationStephen A. FullerVice PresidentUNUMRichard P. McKenneyExecutive Vice President and Chief Financial Officer“For global insurance professionals, membership in the International InsuranceSociety is no longer an option – it’s a must. As the only truly global group ofinsurance and pension participants with exclusive access to a select group ofbenefits and outstanding international networking opportunities, you owe it toyourself to enroll. It’s probably the best bargain left in the market these days.”- Norman SorensenChairman – International Advisory Council, Principal Financial Group, USA“The IIS provides a truly global network of top insurance professionals.This includes representatives from developed as well as developing marketsaround the world. Being responsible for the region Germany, Asia-Pacificand Africa, this is extremely valuable for me.”- Dr. Ludger ArnoldussenMember of the Board of Management, Munich Re, Germany“...there is no other organization in the insurance industry that brings togethersuch an esteemed and influential group of leaders to focus on the mostimportant issues and future trends affecting the insurance business aroundthe globe. It is an energizing and thought-provoking experience which addsimmeasurable value to my understanding of the business, and ability to stretchmy own thinking beyond the demands of my day-to-day work in the industry.”- Stephen M. PackardFirm Director, Deloitte Consulting LLPUNITED KINGDOMA.M. BestRoger SellekManaging Director, Global Financial ServicesAviva PLCTrevor MatthewsExecutive Director, Developed MarketsLiberty Mutual GroupDavid H. LongChief Executive OfficerLloyd’s America, Inc.Henry WatkinsPresidentQBE the AmericasJohn RumplerPresident and Chief Executive Officer*Titles and affiliations may not reflect subsequent modifications.14 | MEMBERSHIP MEMBERSHIP | 15

Chang-Jae ShinJ. Eric SmithChai SophonpanichNorman R. SorensenGordon C. StewartManfred P. StraubeQixiang SunJack E. S. TaiIkuo UnoDanny van der EijkTherese VaughanC.P. Rolando Vega SaenzJames VickersHenry WatkinsW. James WestlakeGreig WoodringPaul JardineYassir AlbaharnaBradley L. KadingVictor S. AppsDenis KesslerLudger ArnoldussenJoan Lamm-TennantDavid H. AtkinsSimon MachellStephen CatlinMichael MagsigJean CloutierJosé Manuel Martínez Bhargav DasguptaTrevor MatthewsJames F. DowdMichael McGavickBrian DuperreaultColleen McKenna TuckerBernhard C. FinkAlexander MoczarskiAndrew F. GiffinMichael J. MorrisseyJorge Hilário Gouvêa VieiraRalph MucerinoPatricia GuinnClive O’ConnellJonathan HarrisStephen T. O’HearnRobert E. HoytOluwole OshinTakeo Inokuchi2012 IISBOARD OFDIRECTORSMEMBERSBAHRAINYassir AlbaharnaChief Executive Officer, Arab Insurance GroupINDIABhargav DasguptaManaging Director and Chief Executive Officer,ICICI Lombard General Insurance CompanyMEMBERS cont.SPAINJosé Manuel MartínezHonorary Chairman, MAPFREUNITED STATES cont.Brian DuperreaultPresident and Chief Executive Officer, Marsh &McLennan Companies, Inc.UNITED STATES cont.Greig WoodringPresident and Chief Executive Officer,Reinsurance Group of America, Inc.CHAIRMANNorman R. SorensenChairman - Internatinal Advisory CouncilPrincipal Financial Group, United StatesVICE CHAIRMENTakeo InokuchiSenior Advisor, Mitsui Sumitomo InsuranceCompany, Ltd., JapanChang-Jae ShinChairman and Chief Executive Officer, KyoboLife Insurance Company, Ltd., KoreaGordon C. StewartLiason - North America, The Geneva Association,and Past President, Insurance InformationInstitute, United StatesCHAIRMAN OF THE BOARDOF GOVERNORSJorge Hilário Gouvêa VieiraPresident, Brazilian Insurance Confederation(CNseg), Brazil*Titles and affiliations may not reflect subsequent modifications.BERMUDAMichael McGavickChief Executive Officer, XL Group plcCANADADavid H. AtkinsChairman, Omega General Insurance CompanyJean CloutierVice President, International Operations, FairfaxFinancial Holdings, Ltd.*W. James WestlakeGroup Head, International Banking & Insurance,RBC Financial GroupFRANCEDenis KesslerChairman and Chief Executive Officer, SCORGERMANYLudger ArnoldussenMember of the Board of Management, MunichReinsurance CompanyHONG KONGVictor S. AppsRetired General Manager, Manulife LimitedJAPANIkuo UnoExecutive Advisor to the Board, Nippon LifeInsurance CompanyMEXICOC.P. Rolando Vega SaenzPresident, Seguros Atlas, S.A.NETHERLANDSDanny van der EijkMember of the Executive Board, EUREKO GroupNIGERIAOluwole OshinManaging Director, Custodian & Allied Insurance plcPEOPLE’S REPUBLIC OF CHINAQixiang SunDean of School of Economics, Director ofCCISSR, Peking University, School of EconomicsSINGAPORESimon MachellChief Executive Officer, Emerging Markets,Aviva PLCSWITZERLANDStephen T. O’HearnPartner, PricewaterhouseCoopersTAIWANJack E. S. TaiChairman of the Board, South China InsuranceCo., Ltd.THAILANDChai SophonpanichChairman and Chief Executive Officer, BangkokInsurance Public Company, Ltd.UNITED KINGDOMStephen CatlinChief Executive Officer and Deputy Chairman,Catlin Underwriting Agencies, Ltd.Paul JardineChief Operating Officer, Catlin Group*Trevor MatthewsExecutive Director, Developed Markets, Aviva PLCJames VickersChairman, Willis Re International, Willis Group*UNITED STATESJames F. DowdFairfax Financial Holdings, Ltd. - retiredPatricia GuinnManaging Director, Towers Watson*Jonathan HarrisDirector, McKinsey & Company, Inc.Bradley L. KadingPresident and Executive Director, Association ofBermuda Insurers and Reinsurers (ABIR)*Joan Lamm-Tennant, PhDGlobal Chief Economist and Risk Strategist, GuyCarpenter & Company, LLCDavid LongChief Executive Officer, Liberty Mutual GroupMichael MagsigManaging Director, Korn/Ferry InternationalRalph MucerinoChief Distribution Officer, Chartis GlobalCommercial Insurance and Senior VicePresident, Chartis Inc.Alexander MoczarskiPresident and Chief Executive Officer, GuyCarpenter & Company, LLCJ. Eric SmithPresident and Chief Executive Officer, Americas ,Swiss Reinsurance Company*Therese VaughanChief Executive Officer, National Association ofInsurance Commissioners (NAIC)Henry WatkinsPresident, Lloyd’s America, Inc.*EX-OFFICIOAUSTRIAManfred P. StraubeProfessor Emeritus, The University of Vienna /JuridicumGERMANYBernhard C. FinkPartner, Access Capital Partners GmbHUNITED KINGDOMClive O’ConnellPartner, Goldberg SegallaUNITED STATESAndrew F. GiffinRetired Principal, Towers WatsonRobert E. HoytDepartment Head and Moore Chair of Insurance,University of GeorgiaColleen McKenna TuckerExecutive Director, International Insurance SocietyMichael J. MorrisseyPresident and Chief Executive Officer,International Insurance Society*Board Member elect16 | MEMBERSHIP MEMBERSHIP | 17

IIS 47TH ANNUAL SEMINARTORONTO, CANADAJUNE 19-22, 2011“The IIS Annual Seminar is THE meeting of the year. It brings togetheracademics, regulators and industry participants from every corner of the worldto discuss the most important and topical issues of the day. You may miss therest but don’t miss this one.”- Brian DuperreaultPresident and CEO, Marsh & McLennan, USA“IIS brings together world leaders from across our insurance markets.The annual seminar has consistently attracted top notch industry speakersand valued delegates who deliberate and exchange views on importantissues and challenges facing the industry.”- Yassir AlbaharnaCEO, Arab Insurance Group - Arig, Bahrain“… my participation in the IIS Seminars has been very important to MAPFRE’sprofessional development as well as to my own.”- José Manuel MartínezRetired Chairman and CEO, MAPFRE, SpainIIS 48TH ANNUAL SEMINARRIO DE JANEIRO, BRAZILJUNE 17-20, 2012“The speaker program was great because of the actual importance of theprogram and the top-class speakers. The combination of speaker programand discussion sessions made the conference a unique event. The IISseminar is one event where all of the participants in the industry can gettogether so it offers a great possibility of networking.”- Dorothea Diers, PhDProvinzial NordWest Holding , Germany

Untitled-1 1 11/2/08 15:30:43TORONTO SEMINAR PROGRAMA NEW WORLD of OPPORTUNITY• Insurance and the Capital Market – A Big Misunderstanding?• Regulation: Lessons Learned, Best Practices, Current Challenges• Constructing an Effective Regulatiory Environment• Global Opportunities and the Role of Insurance• Alternatives for Pensions and Retirement Planning• Strategies for Success in a Global Marketplace• Opportunities and Challenges for the Insurance Industry• Natural Catastrophe Risk• Trends in Insurance Mergers & Acquisitions• Challenges to Growth in Developing Markets• The Coming Inflation: Threat or Opportunity?• Insurance in a Rapidly Changing WorldSEMINAR HIGHLIGHTS• 500+ insurance leaders from over 50 nations - insurance and reinsurance CEO’s, global regulatory authoritiesand worldwide scholarsSEMINAR HOSTPLATINUM HOST SPONSORS• Presentations from 45+ leading industry executives from all sectors of the industry and all regions of the globe• Brian Duperreault of MMC and the late Guy Carpenter of Guy Carpenter inducted into the Insurance Hall of Fame,the industry’s most prestigious honor• Timely topics and discussions that offer a visionary perspective of the global insurance industry• Frank Swedlove, President of the Canadian Life and Health Insurance Association bestowed the 2011Commissioner General AwardGOLD HOST SPONSORS• Shin Research Excellence Award presented to Dr. Robert Klein, Georgia State University and the research team:Dr. Mary Kelly, Wilfird Laurier University, Dr. Anne Kleffner, University of Calgary and Darrell Leadbetter, Propertyand Casualty Insurance Compenstation Corporation• Break-out sessions that generate idea exchange and debate on critical industry issues• Cultural highlights featuring Canada’s art, wines, music, dance, cirque performers, eclectic neighborhoods andiconic venues such as the Royal Ontario Museum and CN TowerSILVER HOST SPONSORSBRONZE HOST SPONSOR• Unparalleled networking with global peersFEATURED SPEAKERS INCLUDE:GLOBAL SPONSORSDonald GuloienPresident and CEO, Manulife, CanadaJim FlahertyFinance Minister, CanadaSteve CatlinCEO, Catlin Group, UKMadhuswamy RamadossChairman and Managing Director, The New IndiaAssurance Co. Ltd., IndiaJulie DicksonSuperintendent, Office of the Superintendent ofFinancial Institutions, CanadaPatrick RyanRyan Specialty Group, USADonald StewartCEO, Sun Life Financial, CanadaLarry ZimplemanChairman, President and CEO, Principal FinancialGroup, USAClive CowderyFounder, Resolution, UKYassir AlbaharnaCEO, Arab Insurance Group, BahrainBhargav DasguptaManaging Director and CEO, ICICI Lombard GeneralInsurance Company, IndiaYehuda Kahane, PhDHead, Akirov Institute for Business and theEnvironment, Tel Aviv University, IsraelMEDIA PARTNERSA PRODUCT OF*Titles and affiliations may not reflect subsequent modifications.

Untitled-1 1 11/2/08 15:30:43RIO SEMINAR PROGRAMINSURANCE FRONTIERS:SUSTAINABILITY AND INNOVATION INEMERGING MARKETS• Global Insurance State of the Industry• The Impact of the Social, Economic and Environmental Crisison Insurance• Insurance Industry Relevancy to G-20 Priorities - 2012 and Beyond• Strategies for Global Growth - Insights from Leading Insurance Executives• Principles for Sustainable Insurance• Microinsurance Innovation Facility Exhibition• Insurance Solutions for Developing Countries• Life Insurance Industry’s Response to the Great East Japan Earthquake• Global Reinsurance State of the Industry• Mobile Mania: Effective Distribution Channels for Emerging Markets• Key Risk Issues in Emerging Markets: A Rating Agency PerspectiveFEATURED SPEAKERS INCLUDE:Zongmin WuChairman, China Pacific Property Insurance Co.,P.R. ChinaDenis KesslerChairman and CEO, SCOR, FrancePatrick de Larragoiti LucasChairman, SulAmerica, BrazilMichael McGavickCEO, XL Group, BermudaGovernor Dirk KempthornePresident and CEO, American Council of LifeInsurers, USABarry StoweChief Executive, Prudential Corporation Asia,Prudential Holding, Ltd., Hong KongJames BrackenGlobal CFO, Chartis, USASergey SarkisoffPresident and Chairman, RESO-Garantia, andChairman, RESO Group, Russian FederationAchim SteinerExecutive Director, UNEP and Under-Secretary-General, United NationsLudger ArnoldussenMember of the Board of Management, Munich Re.,GermanyBrian DuperreaultPresident and CEO, Marsh & McLennan, USAKatsutoshi SaitoChairman, Dai-ichi Life, JapanYanli ZhouVice Chairman, China Insurance RegulatoryCommission, P.R. ChinaNeill CurriePresident and Chief Executive Officer, RenaissanceRe, BermudaPedro de MacedoChairman and Chief Executive Officer, Mapfre Re,SpainMatthew MosherSenior Vice President & Chief Rating Officer,A.M. Best, USAGOLD HOST SPONSORSBRONZE HOST SPONSORSSEMINAR HIGHLIGHTS• 500+ insurance leaders from over 50 nations - insurance and reinsurance CEO’s, global regulatory authoritiesand worldwide scholars and high ranking UN dignitaries• Launch of the United Nations Environmental Programme’s Principles for Sustainable Insurance• Presentations from 35+ leading industry executives from all sectors of the industry and all regions of the globe• Ikuo Uno of Nippon Life and the late Manuel Povoas of Bradesco Vida e Prevedencia inducted into theInsurance Hall of Fame, the industry’s most prestigious honor• Timely topics and discussions that offer a visionary perspective of the global insurance industry• Jorge Hilário Gouvêa Vieira, President of the Brazilian Insurance Confederation (Cnseg) bestowed the 2012Commissioner General Award• Shin Research Excellence Award presented to Yi Yao, University of Wisconsin at Madison and OlajumokeOlaosebikan, University of Bath• Break-out sessions that generate idea exchange and debate on critical industry issues• Cultural highlights featuring samba, capoeira, Brazilian architecture, rain forest, caipirinhas, colonial history andworld famous venues - Sugarloaf and Christ the Redeemer• Unparalleled networking with global peersGLOBAL SPONSORSMEDIA PARTNERS*Titles and affiliations may not reflect subsequent modifications.

SEMINAR HISTORYDIGNITARIES & NOTABLE KEYNOTE SPEAKERS1965 Austin, USA1966 Honolulu, USA1982 Toronto, Canada1983 Singapore1999 Berlin, Germany2000 Vancouver, CanadaTORONTO, CANADA 2011The Honourable Jim FlahertyMinister of Finance, CanadaAMMAN, JORDAN 2009 cont.Geoffrey BellPresident, Geoffrey Bell and Company, USAHONG KONG 2005Donald TsangChief Executive, Hong Kong1967 London, UK1968 Austin, USA1969 Philadelphia, USA1970 Tokyo, Japan1971 Berlin, Germany1972 Mexico City, Mexico1973 Madrid, Spain1974 Taipei, Taiwan1975 Beirut, Lebanon (cancelled)1976 San Francisco, USA1977 Oslo, Norway1978 Manila, Philippines1979 Dallas, USA1980 Paris, France1984 New Orleans, USA1985 Vienna, Austria1986 Orlando, USA1987 Seoul, Korea1988 London, UK1989 Chicago, USA1990 Paris, France1991 San Francisco, USA1992 Toronto, Canada1993 Tokyo, Japan1994 Madrid, Spain1995 Washington D.C., USA1996 Amsterdam, Netherlands1997 Mexico City, Mexico2001 Vienna, Austria2002 Singapore2003 New York, USA2004 London, UK2005 Hong Kong2006 Chicago, USA2007 Berlin, Germany2008 Taipei, Taiwan2009 Amman, Jordan2010 Madrid, Spain2011 Toronto, Canada2012 Rio de Janeiro, Brazil2013 Seoul, KoreaJulie DicksonSuperintendent, Office of the Superintendent ofFinancial Institutions, CanadaGovernor Dirk KemphornePresident and CEO, ACLI, USAPatrick RyanFounder, Executive Chairman and CEO, RyanSpecialty Group, and Founder Aon Corporation, USAMADRID, SPAIN 2010Esperanza Aguirre Gil de BiedmaPresident of the Region of Madrid, SpainGeoffrey BellPresident, Geoffrey Bell and Company, USAMaurice “Hank” GreenbergChairman and Chief Executive Officer, C.V. Starr& Co., USAScott HarringtonProfessor of Health Care Management andInsurance and Risk Management, The WhartonSchool, University of Pennsylvania, USAIkuo UnoChairman, Nippon Life Insurance Company, JapanAMMAN, JORDAN 2009Fredric CirceExecutive Director, Abraaj Capital, UAETAIPEI, TAIWAN 2008Cheng-Hsiung (Paul) ChiuVice Premier of the Executive Yuan, TaiwanBERLIN, GERMANY 2007Thomas MiroFinance State Secretary, Ministry of Finance,GermanyMarvin ZonisProfessor Emeritus, Graduate School of Business,University of Chicago, USACHICAGO,USA 2006Christine LagardeMinister of Foreign Trade, FranceLawrence B. LindseyPresident and Chief Executive Officer, The LindseyGroup; Former Assistant to the United StatesPresident and Director of the National EconomicCouncil, The Lindsey Group, USALONDON, UNITED KINGDOM 2004Alderman Robert FinchLord Mayor of London, UKLord Peter LevineChairman, Lloyd’s of London, UKNEW YORK, USA 2003Michael BloombergMayor, New York City, USASINGAPORE 2002Lee Hsien LoongDeputy Prime Minister and Minister for Finance,Monetary Authority of Singapore, SingaporeVIENNA, AUSTRIA 2001Karl-Heinz GrasserMinister of Finance, Austria1981 Rio de Janeiro, Brazil1998 Sydney, AustraliaAmer Al HadidiMinister of Industry and Trade, Jordan*Titles and affiliations may not reflect subsequent modifications.“The IIS Seminar is a truly unique cocktail: a perfectly balanced combination of outstanding speakers, timely topics, interesting discussionsand the best opportunity to network with colleagues from all over the world in always new and interesting surroundings. If I would attendonly one event every year, this is the one, no doubt.“- Jean-Charles FreimullerPresident and CEO, WAFA Assurance, Morocco“…the IIS seminar is the one meeting I’d recommend. For me, it really is a combination of great programs, great speakers andattendees that are second to none.”- Larry ZimplemanPresident and CEO, Principal Financial Group, USA“I find the IIS conference unique in the way it brings together all areas of, and stakeholders to, the Insurance industry.”- W. James WestlakeGroup Head, International Banking and Insurance, RBC Financial Group, Canada“I´ve been to 7 IIS Seminars and I can honestly tell you that every year I enjoy it more. So does my wife and now my daughter is alsobecoming a fan of the IIS.”- Luis Alfredo EscalantePresidente, Aseguradora Agrícola Comercial, El Salvador24 | SEMINAR SEMINAR | 25

2011 TORONTO SEMINAR SPEAKERSYassir AlbaharnaChief Executive OfficerArab Insurance Group - ARIGBahrainLudger ArnoldussenMember of the Board of ManagementMunich Reinsurance CompanyGermanyStephen CatlinChief Executive Officer and Deputy ChairmanCatlin Group, Ltd.United KingdomClive CowderyFounderResolution Operations LLPUnited KingdomBhargav DasguptaManaging Director and Chief Executive OfficerICICI Lombard General Insurance Company, Ltd.IndiaVolker DevilleExecutive Vice PresidentAllianz SEGermanyJulie DicksonSuperintendentOffice of the Superintendent of Financial InstitutionsCanadaJanet EckerPresidentToronto Financial Services Alliance (TFSA)CanadaJames FlahertyFinance MinisterCanadaChris GilesExecutive Vice President - International FieldOperations ManagerChubb Group of Insurance CompaniesUnited KingdomJorge Hilário Gouvêa VieiraPresidentBrazilian Insurance Confederation (CNseg)BrazilDonald GuloienPresident and Chief Executive OfficerManulife FinancialCanadaMartin HegartyCo-Head of Global Inflation-Linked PortfoliosBlackrockUnited StatesRolf-Peter HoenenPresidentGerman Insurance Association (GDV)GermanyCharles (Chuck) JohnstonVice President, Strategy and AlliancesOracle America Inc.United StatesYehuda Kahane, PhDHead of Akirov Institute for Business andEnvironmentTel Aviv UniversityIsraelKurt KarlChief US EconomistSwiss ReUnited StatesMary Kelly, PhDAssociate Professor, Finance and insurance, Schoolof Business and EconomicsWilfrid Laurier UniversityCanadaGovernor Dirk A. KempthornePresident and Chief Executive OfficerAmerican Council of Life Insurers (ACLI)United StatesPaul KitsonSenior ConsultantTowers WatsonUnited KingdomAnne Kleffner, PhDAssociate Professor of Risk Management andInsuranceHaskayne School of Business , University of CalgaryCanadaRobert W. Klein, PhDAssociate Professor and Director, Center for RiskManagement and Insurance ResearchGeorgia State UniversityUnited StatesDarrell LeadbetterChief Economist and Vice President, FinancialAnalysis and Regulatory AffairsProperty and Casualty Insurance CompensationCorporation (PACICC)CanadaGreg LocraftExecutive DirectorMorgan StanleyUnited StatesD. Allen LoneyPresident and Chief Executive OfficerGreat-West Lifeco Inc.CanadaGordon McBean, PhD .Director, Policy Studies, Institute for CatastropheLoss ReductionUniversity of Western OntarioCanadaLorilee Medders, PhDAssociate Director, Florida Catastrophic Storm RiskManagement CenterFlorida State UniversityUnited StatesJohn O’ConnorPresident and Chief Operating OfficerEndurance Services Ltd.United StatesPedro Ordorica LeneroPresidentNational Commission for Retirement SavingsMexicoRui PinhoSecretary GeneralGlobal Earthquake Model Foundation (GEM)ItalyKeith Porter, PhDCo-PresidentSPA RiskUnited StatesMadhuswamy RamadossChairman and Managing DirectorThe New India Assurance Company, Ltd.IndiaPatrick G. RyanChairman and Chief Executive OfficerRyan Specialty GroupUnited StatesRanjit Ajit SinghManaging DirectorSecurities Commission MalaysiaMalaysiaTodd SolashSenior Vice President and Head of RetirementServices Product Life Cycle ManagementAXA EquitableUnited StatesDonald A. StewartFormer Chief Executive OfficerSun Life Financial, Inc.CanadaFrank SwedlovePresidentCanadian Life & Health Insurance AssociationCanadaThomas S. VandeverManaging Director-Investment Banking DivisionGoldman, Sachs, & CompanyUnited StatesKeith WalterDirector, Risk Consulting & Software, South EastAsia,Towers WatsonSingaporeJamie YoderPrincipalDiamond Advisory ServicesUnited StatesAlan ZimmermannGlobal Financial Research CoordinatorMacquarie SecuritiesUnited StatesLarry ZimplemanChairman, President and Chief Executive OfficerPrincipal Financial GroupUnited States*Titles and affiliations may not reflect subsequent modifications.26 | SEMINAR SEMINAR | 27

“The IIS events are world-class, providing extensive networkingopportunities with global insurance companies’ executives. Cross-borderexchange of ideas on new trends, critical issues and research papers duringseminars always exceed my expectation.”- Dr. Chang Jae ShinChairman and CEO, Kyobo Life, South Korea“…the success of the conference is due not to one factor only but thecombination of the mixing of academics and Managing Directors ofcompanies , the working of the discussion groups at all levels , the resultingstimulation and development of the Industry and how this can affect theInsurance Industry in one’s own country. “- Levy RachmaniManaging Director and Chairman of the Board, Ayalon Holdings, Israel“Sponsored academic research highly relevant to the issues currentlychallenging insurance executives motivates us to think differently andbecomes a catalyst for active debate throughout our meeting.”- Joan Lamm-TennantGlobal Chief Economist and Risk Strategist, Guy Carpenter & Company, USA“The annual seminars provide a unique opportunity to make sense of whatis happening in the insurance world. In the workshops professors and topmanagers discuss their views and draw conclusions in a hands on fashionthat I haven’t experienced in any other forum.”- Dr. Ludger ArnoldussenMember of the Board of Management, Munich Re, GermanyIIS AWARDS PROGRAMInsurance serves a major role in society - protecting against risks to financial security, preserving assets, fuelingeconomic growth and providing investments for the future. The value and impact of insurance continues to growbecause of its basic premise: the creation of a better life for those who use it.The leaders of our industry - its innovators, visionaries and thinkers – through extraordinary creativity and perseverance,have enriched the lives of millions and expanded the influence of insurance worldwide. These qualities of leadershipare recognized through the International Insurance Society’s industry awards program.

THE INSURANCE HALL OF FAMEThe Insurance Hall of Fame, created in 1957, honors outstanding insurance leaders whohave made significant contributions to insurance theory and practice for the benefitof society. Laureates of the Insurance Hall of Fame, the highest honor awardedin the insurance industry, are considered the preeminent leaders, innovators andvisionaries of the industry, recognized for creating lasting and significant ideas thathave expanded the industry. The Insurance Hall of Fame, created at the GriffithFoundation for Insurance Education, is administered by the IIS with Laureates electedby the IIS membership via an audited secret balloting process.LEADERS INNOVATORS VISIONARIESThe International Insurance Society Salutes the Insurance Hall of Fame Laureates of 2011 and 2012To learn more about the Insurance Hall of Fame Laureates we invite you to visit the Insurance Hall of Fame museumat the University of Alabama, the Claire and Joseph Smetana Gallery at St. St. John’s University and our INSURANCE HALL OF FAME LAUREATES 2012 INSURANCE HALL OF FAME LAUREATESGuy CarpenterFounderGuy Carpenter & CompanyUSABrian DuperreaultPresident and Chief Executive OfficerMarsh & McLennan CompaniesUSAManuel Sebastião Soares PóvoasFounderBradesco Vida e ProvedenciaBrazilIkuo UnoExecutive Advisor to the Board and Former ChairmanNippon Life Insurance CompanyJapan30 | IIS AWARDS PROGRAM IIS AWARDS PROGRAM | 31

PAST INSURANCE HALL OF FAME LAUREATESAUSTRALIACHILEITALYNETHERLANDSSWITZERLANDUNITED STATES cont.Frank M. O’HalloranChief Executive OfficerQBE Insurance Group, Ltd.Jose PineraFounder and PresidentInternational Centre for Pension ReformOrio GiariniSpecial AdvisorGeneva AssociationAad JacobsChairmanING GroupWalter KielhozChief Executive Officer and Managing DirectorSwiss Reinsurance CompanyBrian DuperreaultPresident and Chief Executive OfficerMarsh & McLennan Companies, Inc.AUSTRIAFRANCEJAPANKees J. StormChairmanAEGON N. V.UNITED KINGDOMLeo Goodwin, Sr.FounderGeicoSiegfried SellitschRetired Chief Executive OfficerWiener Staedtische WechselseitigeClaude BebearChairman of the Executive BoardAXAGen HirosePresidentNippon Life Insurance CompanyNORWAYDavid RowlandPast ChairmanLloyd's of LondonMaurice R. GreenbergPresidentAmerican International GroupBELGIUMGERMANYTakeo InokuchiChairman and Chief Executive OfficerMitsui-Sumitomo Insurance Company, LimitedPer M. HanssonChairmanStorebrandUNITED STATESWilliam C. GreenoughPast Chairman and Chief Executive OfficerTIAA-CrefLutgart Van den BergheProfessorGhent University and Erasmus UniversityHans GerlingExecutive Board ChairmanGerling GroupJosei ItohChairmanNippon Life Insurance CompanyPHILIPPINESJames C.H. AndersonPresidentTillinghast, Towers PerrinRobert F. McDermottBrigadier General (Retired)United States Air ForceBERMUDAFrederic ReissInternational American Risk Management, Ltd.BRAZILManuel Sebastiao Soares PovoasFounder and former Chief Executive OfficerBradesco Vida e PrevidenciaCANADADominic D'AlessandroPresident and Chief Executive OfficerManulife FinancialWilliam MeredithOntario, Canada’s Workers’ Compensation SystemHorst K. JannottChairmanMunich Reinsurance CompanyHONG KONGEdmund TseCo-Chief Operating OfficerAmerican International GroupINDIAG.S. DiwanProfessor of Actuarial StudiesSydenham CollegeB.K. ShahChairmanNew India Life Insurance CompanySaburo KawaiFounderKyoei Life Insurance CompanyIkuo UnoExecutive Advisor to the BoardNippon LifeKOREAYong Ho ShinHonorary ChairmanKyobo Life Insurance Company, Ltd.MEXICOClemente Cabello P.Chief Executive OfficerGrupo Nacional ProvincialAlfonso YuchengcoAmbassadorAmbassador Extraordinary and Plenipotentiary ofthe Philippines to JapanSPAINIgnacio Hernando de LarramendiFormer ChairmanMAPFREJose Manuel MartinezChairman and Chief Executive OfficerSistema MAPFRESWEDENHarald CramerProfessor of MathematicsUniversity of StockholmAlfred M. BestFounderAlfred M. Best & Co., Inc.Edison L. BowersProfessor of Insurance and EconomicsOhio State UniversityJack ByrneRetired Chief Executive OfficerWhite Mountains Insurance Group, Fireman's FundCorporation and GEICOGuy CarpenterFounderGuy Carpenter & Company, Inc.Hendon ChubbFounderChubb GroupRobert ClementsChairmanIntegro Ltd.Patrick G. RyanExecutive Chairman, Aon Board of DirectorsAon CorporationsCornelius V. StarrFounderAmerican International GroupFor a full list of Laureates*Titles and affiliations may not reflect subsequent modifications.

THE JOHN S. BICKLEY FOUNDER'S AWARDIIS HONORS AWARDSTHE COMMISSIONER GENERAL AWARDThe Commissioner General Award honors an individual who has provided superlative and crucial assistance in thedevelopment, organization and execution of the IIS annual seminar.The John S. Bickley Founder’s Award is named in honor of the founder of the IIS, the late Dr. Bickley, EmeritusProfessor of Insurance at The University of Alabama. The award was established to honor individuals who have madea significant, lasting and recognized contribution to insurance thought, product, practice or education. The Founder’sAward recipients are elected by a body of senior insurance executives and leading academics, representing all sectorsof the industry and regions of the world.The International Insurance Society Congratulates the Founder’s Award Recipients of 2011 and 2012.2011Frank SwedlovePresidentCanadian Life & Health InsuranceAssociation (CLHIA)Canada2012Jorge Hilário Gouvêa VieiraPresidentBrazilian Insurance Confederation(CNseg)Brazil2011Yehuda Kahane, PhDHead, Alfred Akirov Institute forBusiness and EnvironmentUniversity of Tel AvivIsrael2012Yung-Ping Chen, PhDProfessor Emeritus of GerontologyUniversity of Massachusetts BostonUSATHE KENNETH BLACK JR. AWARDThe Kenneth Black Jr. Award is presented to an individual who has lent outstanding leadership and support in thefurtherance of the IIS mission and goals.20112012LAUREATES 2001 - 2012*BERMUDAFrederic ReissInternational Risk Management Ltd. (2004)MEXICOClemente Cabello P.Grupo Nacional Provincial (2001)UNITED STATES cont.Yung-Ping ChenUniversity of Massachusetts Boston (2012)Michael Adams, PhDProfessor, Strategic RiskManagement and Director, Centrefor Strategic RiskSchool of ManagementUniversity of BathUKJoan Lamm-Tennant, PhDGlobal Chief Economist andRisk StrategistGuy Carpenter & CompanyUSAFINLANDTeivo PentikainenLimarinen Pension Insurance Company(2002)ISRAELYehuda KahaneTel Aviv University (2011)SWITZERLANDMatthias G. HallerEuropean Centre for Education and Training (2007)UNITED STATESArthur L. BaileyLumbermens Mutual Casualty and MotoristInsurance (2006)William Haddon, Jr.Insurance Institute for Highway Safety (2005)George HeadThe American College & Institute CPCU (2003)Harold D. Skipper, Jr.Georgia State University (2009)Kailin TaunTemple University (2010)James A. TilleySun Life Financial (2008)IIS Honors Award recipients are selected by the IIS Honors Committee, a body of senior insuranceexecutives and prominent academics from around the world. The awards are presented annuallyat the gala awards dinner during the IIS Annual Seminar.*Titles and affiliations may not reflect subsequent modifications.34 | IIS AWARDS PROGRAM IIS AWARDS PROGRAM | 35

SHIN RESEARCH EXCELLENCE AWARDSRESEARCH PROGRAM CHAIR & JUDGESRESEARCH PROGRAM CHAIRJoan Lamm-Tennant, PhDGlobal Chief Economist and Risk StrategistGuy Carpenter & Company, USASHIN RESEARCH EXCELLENCE AWARDSThe IIS, in partnership with The Geneva Association, advances a broad global reach for prominent practical insuranceresearch through the Shin Research Excellence Awards program. The program is underwritten by Kyobo Life InsuranceCompany whose ardent commitment to insurance education supports the goal of the program to meet the needs ofglobal senior executives seeking high quality practical research reflecting current issues in the industry. The researchprogram is highly regarded among key leaders across the globe, attracting the attention of prominent organizationsinterested in industry research and highlighting the efforts of leading industry academics and researchers throughgrants and worldwide recognition.The IIS Congratulates the Shin Research Excellence Award Recipients of 2011 and 2012on their outstanding research:2011Principles for Insurance Regulation: An Evaluation of Current Practices and Potential ReformsRobert W. Klein, PhDCenter for Risk Management and Insurance Research, Georgia State University, USAStructure, Principles and Effectiveness of Insurance Regulation in the 21st Century: Insights from CanadaMary Kelly, PhDSchool of Business and Economics, Wilfrid Laurier University, Canadaand2011 RESEARCH PROGRAM JUDGESEtti G. Baranoff, PhDAssociate Professor of Insurance and FinanceVirginia Commonwealth University, USAGregory CarterManager, Wholesale InsuranceFinancial Services Authority, UKJean-Paul A. Louisot, PhDIngénieur Civil des Mines, MBA, ARM, MIRMProfessor of Risk ManagementUniversité Paris 1 - Panthéon Sorbonne, FranceW. Jean Kwon, PhDFaculty Chairperson & Manton Endowed Chair Professor ofInternational Insurance and Risk ManagementThe School of Risk Management, St. John's University, USAStephen M. PackardFirm DirectorDeloitte Consulting LLP, USAJoan T. Schmit, PhDProfessorUniversity of Wisconsin-Madison, USAMichael Wolgast, PhDHead of Economics Department,German Insurance Association (GDV), Germany2012 RESEARCH PROGRAM JUDGESMichael B. Adams, PhDProfessor, Strategic Risk Management and Director, Centre for Strategic RiskSchool of Management, University of Bath, UKEtti G. Baranoff, PhDAssociate Professor of Insurance and FinanceVirginia Commonwealth University, USATony CabotSenior Executive Officer, MENA RegionArgo Re, UAEBhaskar Chakravorti, PhDSenior Associate Dean for International Business and FinanceExecutive Director of Fletcher’s Institute for Business in the Global Context andthe Center for Emerging Markets Enterprises (CEME)3The Fletcher School at Tufts University, USAStephen M. PackardFirm DirectorDeloitte Consulting, USAJoe Hong Zou, PhDDirector of MSc Programmes in FinanceAssociate Professor of FinanceDepartment of Economics and FinanceCity University of Hong Kong, Hong KongAnne Kleffner, PhDHaskayne School of Business, University of Calgary, CanadaandDarrell LeadbetterProperty and Casualty Insurance Compensation Corporation, CanadaWith gratitude to Kyobo Life and the Shin Familyfor their generous support2012The Determinants of the Profitability of Micro-Life Insurers in NigeriaOlajumoke OlaosebikanSchool of Management, University of Bath, UKDevelopment and Sustainability of Emerging Health Insurance Markets: Evidence fromMicroinsurance in PakistanYi (Kitty) YaoRisk Management and Insurance Department, School of Business, University of Wisconsin at Madison, USA*Titles and affiliations may not reflect subsequent modifications.“To me the greatest value of attending the IIS meeting is the insight one obtains from the mix of practitioner and academic perspectiveson the future of the global insurance industry”.Dr. Qixiang SunDean of School of Economics, Director of CCISSR, Peking University, People’s Republic of China“…the IIS research program also provides a forum for the latest academic thinking on key issues facing the insurance industry tobe presented and discussed. The IIS is truly a business-driven and research-led organization.”Michael AdamsProfessor, Strategic Risk Management & Director, Centre for Strategic Risk, University of Bath, UK“The IIS to me provides a unique forum for academics and practitioners to interact, and share ideas that move the industry forwardglobally. The IIS is no doubt the biggest insurance event in the world with top quality speakers to discuss current issues in the industry.”F. K. LawalManaging Director and CEO, Sterling Assurance Nigeria, Nigeria36 | IIS AWARDS PROGRAM IIS AWARDS PROGRAM | 37

2012 IIS AMBASSADOR ROSTERJae-Woo MoonStephen M. PackardDavid F.A. PiesseFrans Y. SahusilawaneChai SophonpanichManfred P. StraubeSivam SubramaniamAndries TerblancheJörg Freiherr Frankvon FürstenwerthChakib AbouzaidKhalid AbdulrahmanAl MughesibPaul DolbecEduardo DoradoRowan DouglasJean-Paul A. LouisotMichael B. AdamsWillem VreeswijkGraham WatsonMatarr O. DrammehWismar A. GreavesGyu-bok KimThomas A. KingFatai Kayode LawalFetooh Al ZayaniBengt WestergrenRay ChenRecaredo Arias J.Gary ComerfordDavid H. AtkinsOsvaldo Do NascimentoFateh Wajih BekdacheGLOBALGraham WatsonChairman, RGA International, CanadaASIA-PACIFICDavid F.A. PiesseHead of Asia Pacific, Ultimate Risk Solutions,Hong KongAUSTRALIAAndries TerblanchePartner, KPMGAUSTRIAManfred P. StraubeProfessor Emeritus, The University of Vienna /JuridicumBAHRAINFetooh Al ZayaniAdvisorBARBADOSWismar A. GreavesManaging Director and Chief Executive Officer,Insurance Corporation of Barbados, Ltd.BRAZILOsvaldo Do NascimentoExecutive Director, Banco Itau S/ACANADADavid H. AtkinsChairman, Omega General Insurance CompanyGary ComerfordExecutive Vice President and Chief MarketingOfficer, RGAFRANCEJean-Paul A. LouisotProfessor of Risk Management, UniversitéParis 1 - Panthéon SorbonneGAMBIAMatarr O. DrammehExecutive Chairman, Gambia National InsuranceCompany, Ltd.GERMANYJörg Freiherr Frank von FürstenwerthMember of the Board and Chief ExecutiveOfficer, German Insurance Association (GDV)INDONESIAFrans Y. SahusilawanePresident Director and Chief Executive Officer,PT. Asuransi MAIPARK IndonesiaKOREAGyu-bok KimChairman and Chief Executive Officer, Korea LifeInsurance AssociationJae-Woo MoonChairman, General Insurance Association of KoreaLEBANONFateh W. BekdacheVice Chairman and General Manager, AropeInsurance S.A.L.MEXICORecaredo Arias J.General Director, Asociacion Mexicana deInstituciones de SegurosNETHERLANDSWillem VreeswijkEditor-in-Chief, VVP, Weekly MagazineNIGERIAFatai Kayode LawalManaging Director and Chief Executive Officer,Sterling Assurance Nigeria, Ltd.QATARKhalid M. MughesibDeputy Chief Executive Officer / BoardMember, Qatar Insurance Services LLC(Qatarlyst)RUSSIAN FEDERATIONBengt WestergrenRetired Senior Vice President, Senior VP,Corporate and Government Affairs Europe, AIGSINGAPORESivam SubramaniamEditor-in-Chief, Asia Insurance ReviewSPAINEduardo DoradoChairman Iberian Peninsula & SVP International,RGA International Reinsurance Company Ltd.TAIWANRay ChenChairman - Department of Insurance & Finance,Chihlee Institute of TechnologyTHAILANDChai SophonpanichChairman and Chief Executive Officer, BangkokInsurance Public Company PLCUNITED ARAB EMIRATESChakib AbouzaidChief Executive Officer, Takaful Re Ltd.UNITED KINGDOMMichael AdamsProfessor, Strategic Risk Management & Director,Centre for Strategic Risk, University of BathRowan DouglasChief Executive Officer, Global Analytics, WillisRe and Chairman, Willis Research Network,Willis, Ltd.UNITED STATESPaul DolbecSenior Director, Insurance, OracleTom KingVice President, OracleStephen M. PackardFirm Director, Deloitte ConsultingIIS Ambassadors are regional representatives and industry liasons of the IIS who build awareness and interestfrom their region in IIS activities, including:MEMBERSHIP | SEMINARS | SHIN RESEARCH EXCELLENCE AWARDS PROGRAMINSURANCE HALL OF FAME AND FOUNDER’S AWARDS | INDUSTRY RESEARCH*Titles and affiliations may not reflect subsequent modifications.38 | IIS AMBASSADOR ROSTER IIS AMBASSADOR ROSTER | 39

CREDITSDeloitte & ToucheAuditor Services and Insurance Hall of Fame AwardBalloting and TabulationUnited StatesSt. John’s UniversitySchool of Risk Management,United StatesAdministrative and Office SupportUnited StatesPrincipal Financial GroupUnited StatesUnderwriting of the Annual ReportThe University of AlabamaUnited StatesThe Insurance Hall of Fame MuseumCONTACT INFORMATION:International Insurance SocietyMichael J. MorrisseyPresident and Chief Executive Officer101 Murray StreetNew York, NY 10007-2165United StatesTelephone: +1.212.815.9291Fascsimile: +1.212.815.9297Email: akohulka@iisonline.orgWebsite: www.iisonline.org40 | CREDITS

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