European Insurance Summit 2013

Transcription

1 Institute of Financial Services Zug IFZ European Insurance Summit 2013 Insurance Solutions for Asset Management An International Comparison Tuesday, 28 May 2013, 8:45 a.m. 5:45 p.m. Golden Sponsors Silver Sponsor With support of

2 European Insurance Summit 2013 Insurance Solutions for Asset Management An International Comparison Target Group Employees, family offices, bankers, lawyers, tax consultants, trustees, fund managers, asset managers, practitioners, consultants, accountants in the financial industry, financial intermediaries and investors. Time Tuesday, 28 May 2013, 8:45 a.m. 5:45 p.m. Costs CHF 690., per person, incl. seminar materials, lunch and apéro. Place The Summit takes places in the Institute of Finacial Services Zug IFZ, located two minutes walk from the train station of Zug. You will reach Zug in 30 minutes from Zurich via train or car. Registration should be done no later than 10 May 2013 to the following address Lucerne School of Business Institute of Financial Services Zug IFZ Grafenauweg 10 P.O. Box 4332 CH-6304 Zug T F ifz@hslu.ch Registration will be firstcome first-served and is strictly limited to 100 participants. Informations Concept The aim of the conference is to discuss and analyze current developments in relation to the use of insurance solutions in wealth planning and asset management with a particular focus on issues and needs faced by high net worth individuals and corporations from Swiss, Italian, German, Austrian, Spanish, English, French, Monegasque, Russian, Ukrainian and Turkish Perspectives. Speakers Rolando Alfieri, FARAD International S.A., Luxembourg; Dr Peter R. Alten burger, Altenburger LTD legal + tax, Zurich/Geneva; Sergey Bezborodov, PricewaterhouseCoopers AG, Zurich; Thomas Brotzer, Ernst & Young, Zurich; Vikram Chand, University of Neuchâtel, Neuchâtel; Michel Collet, CMS Bureau Francis Lefebvre, Paris; Massimo Contini, IWI International Wealth Insurer, Luxembourg; Mario da Costa, IWI International Wealth Insurer, Luxembourg; Amaury de Potter d Indoye, Lombard Intermediation Services S.A., Luxembourg; Prof Dr Joachim Frick, Baker & McKenzie, Zurich; Dr Alexander Imhof, FMA Liechtenstein, Vaduz; Judith Ingham, Withers LLP, Zurich/London; Ass-Prof DDr Patrick Knörzer, University of Liechtenstein, Vaduz; Prof Dr Moritz Kuhn, University of Zurich/Meyer Müller Eckert Partners, Zurich; Prof Dr Guglielmo Maisto, Maisto e Associati, Milan/Rome/London; Dr Monica Mächler, Attorney-at-law, Pfäffikon; Juan Manuel Moral, KPMG, Madrid; Filippo Noseda, Withers LLP, London; Roland A. Pfister, Lucerne University of Applied Sciences and Arts/Tavernier Tschanz, Geneva; Pia Tischhauser, Boston Consulting Group, Zurich; Alessandro Tulli, Swiss Life S.A., Zurich; Dr Jurgen Vanhoenacker, Lombard International Assurance, Luxembourg; Dr Christian von Oertzen, Flick Gocke Schaumburg, Frankfurt; Dr Marcel Widrig, PricewaterhouseCoopers AG, Zurich; Daria Zernova, Russian tax lawyer, Zurich Hotel If you require hotel accommodations, we recommend the Park Hotel Zug: Please use the following code for a reservation in order to get a special rate: European Insurance Summit.

3 Programm Policy Issues, Regulatory Trends and Developments 08:45 09:00 a.m. Introduction and Welcome Roland A. Pfister 09:00 10:15 a.m. Distribution and Sale of Life Insurance in Europe - the New Regulatoy Framework with special focus on Switzerland, Luxembourg and Liechtenstein Prof Dr Joachim Frick, Dr Alexander Imhof, Alessandro Tulli, Mario da Costa, Rolando Alfieri 10:15 10:40 a.m. Coffee break 10:40 11:20 a.m. Life Insurance in a Changing Environment Dr Monica Mächler 11:20 12:00 a.m. Non-Traditional Life Insurance Products Challenges with a view to Private and Regulatory law Prof Dr Moritz Kuhn 12:00 01:30 p.m. Lunch Compliant Estate Planning and Structuring Ideas for High Net Worth Individuals and Corporations 01:30 01:45 p.m. The New Business Reality Roland A. Pfister 01:45 02:35 p.m. Workshop Session 1 Effectiveness of Asset Protection for Policy Holders Dr Christian von Oertzen, Prof Dr Joachim Frick, Dr Jurgen Vanhoenacker 01:45 02:35 p.m. Workshop Session 2 Exchange of Information under Double Tax Conventions, Tax Information Exchange Agreements, FATCA and Rubik Agreements: what does it mean for Insurance Companies and Policy Holders? Dr Peter R. Altenburger, Thomas Brotzer, Vikram Chand, Daria Zernova 02:35 03:00 p.m. Coffee break 03:00 05:00 p.m. Case studies relating to Compliant Estate Planning and Structuring Ideas for High Net Worth Individuals and Corporations from Swiss, Italian, German, Austrian, Spanish, English, French, Monegasque, Russian, Ukrainian and Turkish Perspectives Prof Dr Guglielmo Maisto, Michel Collet, Dr Marcel Widrig, Sergey Bezborodov, Filippo Noseda, Judith Ingham, Dr Christian von Oertzen, Thomas Brotzer, Alessandro Tulli, Ass-Prof DDr Patrick Knörzer, Massimo Contini, Amaury de Potter d Indoye, Juan Manuel Moral 05:00 05:30 p.m. Plenary Discussion on Market Opportunities for Insurance Solutions in a Changing World Dr Monica Mächler, Pia Tischhauser, Dr Jurgen Vanhoenacker 05:30 05:45 p.m. Closing Speech Roland A. Pfister 05:45 p.m. Apéro

4 Special thanks goes to our sponsors: Golden Sponsors Silver Sponsor With support of Contact Lucerne School of Business Institute of Financial Services Zug IFZ Grafenauweg 10 P.O. Box Zug T F ifz@hslu.ch IFZ: Blog IFZ: blog.hslu.ch/ifz ,V.1

5 Speakers Rolando Alfieri, FARAD International S.A., Luxembourg is responsible for the wealth planning services of FARAD International S.A., insurance broker specialized on the cross-border distribution and advisory of Private Life Insurance solutions. He studied law at the University of Zurich and the University of Bologna. After graduating in Bologna with a thesis on Insider Trading, he started his career with Credit Suisse (formerly Kreditanstalt) in Zurich and gathered over 20 years of extensive experience in developing private wealth structures, succession and estate planning within the private banking area while being in charge of the legal & compliance function for various private banks in Switzerland. As an associate of a Swiss consulting firm, he has also been involved in internal control projects and forensic investigation activities within the private banking business. Dr Peter R. Altenburger, Altenburger LTD legal + tax, Zurich/Geneva is a founding member of the firm Altenburger LTD legal + tax. The firm celebrated its 30th anniversary in His main practice focuses on national and international taxation issues with emphasis on M&A, restructurings and international financings. An extended experience in treaty matters allows for an international orientation of his legal practice. He advises on the exchange of information and on the administrative assistance in international tax matters. Peter is visiting lecturer at the University of St. Gallen, HSG, the former Chairman of the Tax Chapter of the Swiss-American Chamber of Commerce, and the Vice-Chairman of the International Fiscal Association (IFA) Branch of the Principality of Liechtenstein. He has authored several books and publications on taxation and is a frequent speaker on international tax matters. Sergey Bezborodov, PricewaterhouseCoopers AG, Zurich is a Senior Manager in the Tax and Legal Services department of PricewaterhouseCoopers AG (PwC) in Zurich and is a member of the Eastern Europe, Russia and Central Asia Desk. Sergey specializes in private client services and develops solutions for complex private wealth structures, estate and succession planning. He is also involved in international tax structuring projects in respect of holding, trading, finance, management, services, and intellectual property. Before joining PwC in Zurich, he worked with PwC in Almaty, Kazakhstan, where he advised local and multinational clients operating throughout Central Asia. Sergey is a lecturer on EU tax law at the University of Neuchâtel (Master in International Taxation). Thomas Brotzer, Ernst & Young, Zurich studied at the University of St. Gallen and earned his law degree in He started his career at a Big Four in Zurich and became a Swiss Certified Tax Advisor in From 2003 to 2009 he acted as Head of Tax for Swiss Life group. In 2009 Thomas joined Ernst & Young AG (EY) as a direct entry partner. He is heading the Financial Services Tax Organization in Switzerland and is co-leading Europe, Middle East, India and Africa (EMEIA) Insurance Tax. Thomas is specialized in both insurance taxation and insurance product taxation. He is a member of EY s global FATCA task force and is leading the insurance cross border initiative. Further, Thomas is lecturer for insurance product taxation and social security. Vikram Chand, University of Neuchâtel, Neuchâtel started his career with Ernst & Young (EY) India s tax practice in At EY, he advised high net worth individuals and multinational and domestic companies on structuring cross-border transactions, devising transfer pricing strategies, conceptualizing business restructurings and making representations before tax authorities. In 2010, he graduated with an Advanced Masters in International Tax Law from Leiden, Netherlands. Currently he is the academic coordinator of the Executive MAS in International Taxation Program offered by the University of Neuchatel wherein he coordinates the program and lectures regularly on different international tax topics. Additionally, he speaks at several universities and conferences and is undertaking a doctorate in international tax law which focuses on tax treaty abuse. Michel Collet, CMS Bureau Francis Lefebvre, Paris studied international tax law at Paris XI/HEC, France. He started his career at CMS Bureau Francis Lefebvre from 1993 to 1999 before joining Linklaters Paris and London. From 2002 to 2007, he headed the tax practice of the New York office of CMS Bureau Francis Lefebvre. Since 2007, he is part of the international tax group of the firm in Paris. Michel specializes in international transactions and structuring for banks, investment funds, and public groups. He also advises high net worth individuals in an international context. He also represents clients in audits and tax disputes. Further, he is an active member of American Bar Association (ABA), International Bar Association (IBA), (co-reporter for France in 2010). He chairs the Carbon Finance working group and fiducie tax group of Paris EURO- PLACE.

6 Massimo Contini, IWI International Wealth Insurer, Luxembourg is the IWI Italian Market Leader. He has a Diploma in Statistics and Economics from the City University in Parma, Italy and has been certificated as professional financial market broker by the Italian financial authority (Consob) in He has been involved in the Italian wealth management market for 17 years, gaining wide ranging experience working in both Italy and Luxembourg. Massimo began his career as Head of trading room, Cofin Sim Spa, Global Equity, Bonds and Derivatives Markets. Then, he spent 5 years as Italy Country Manager for Euresa-Life. Before joining IWI, Massimo worked 5 years as Head of sales for IFIS Investment Advisor Spa, a Multi Family Office. Mario da Costa, IWI International Wealth Insurer, Luxembourg joined IWI in 2006 as a Director and was appointed as a member of the Executive Board in December 2011 to lead the development of its wealth insurance activity. He has 18 years of experience in financial services, started his career as an auditor in 1994 and then focused on consulting services in Luxembourg. From 1999 to 2003, he held several positions in Winterthur Group specializing in project management and business development, both in Brussels and Milan. In 2003, he joined Deloitte to head their consulting services for the Luxembourg life insurance industry and focused on advising clients on development and distribution of international life insurance solutions. Mario holds a Master in International Business Administration from the University of Liège. Amaury de Potter d Indoye, Lombard Intermediation Services S.A., Luxembourg joined Lombard in 2001 and assumes the role of Director, Independent Practitioners since Born and educated in Belgium, Amaury holds a Masters Degree in Economics from the University of Leuven and a Middle Management Programme Certificate from the prestigious Vlerick LG Management School as well as Executive Programme Certificate from St Aloysius College in Brussels. Amaury has extensive experience gained from a variety of roles such as Finance Director (Sea-Invest Group in Belgium), Chief Executive Officer (Bouchard l Escaut in Belgium) and Vice President Operations Worldwide (Keyware Technologies in Belgium). Amaury took on the responsibility for one of Lombard s key partner channels covering relationships with independent asset managers, fiduciaries, tax advisers, lawyers and family offices. Prof Dr Joachim Frick, Baker & McKenzie, Zurich is a partner of Baker & McKenzie. He is heading the insurance practice of the Zurich office and co-heading the European Financial Services Group of Baker & Mc- Kenzie as a steering committee member. His practice comprises both litigious and non-litigious insurance matters and he has represented major Swiss and international insurance and reinsurance companies, banks, and intermediaries in regulatory, court and arbitration proceedings. He regularly represents insurance and reinsurance clients also in M&A transactions, claims audits and run off proceedings and has published various articles in this area. Joachim is a graduate of Zurich University and Yale Law School. He is a frequent speaker on insurance and related topics and teaches part time as a professor of law at the University of Zurich. He is admitted to the bar in Switzerland and New York. Dr Alexander Imhof, FMA Liechtenstein, Vaduz graduated and received his doctorate from the law faculty of the University of Fribourg, Switzerland. After six years as Research Associate at the Swiss Federal Supreme Court he moved to a Swiss law firm and passed his bar exam in He worked for La Suisse Assurances in the Legal Department and as Personal Legal Counsel of the CEO before he became Head of the Legal Department of the Federal Office of Private Insurance (FOPI) and later Head of Legal & Compliance at the Swiss Financial Market Supervisory Authority (FINMA) in Berne. In June 2009, Alexander joined the FMA Liechtenstein as Head of the Insurance and Pension Funds Division and became Deputy of the CEO in December He is a member of the European Insurance and Occupational Pensions Authority (EIOPA) Board of Supervisors and of several committees of the International Association of Insurance Supervisors (IAIS) and the International Organisation of Pension Supervisors (IOPS). Judith Ingham, Withers LLP, Zurich/London studied at Oxford University and is an English solicitor and partner with Withers LLP. Judith focuses on tax, trust and estate planning work for individuals and trustees. In addition to a full range of UK work, Judith is frequently involved in projects requiring consideration of international tax and succession issues. She currently heads up the firm s Zurich office. She also visits London regularly, advising clients in both jurisdictions. Ass-Prof DDr Patrick Knörzer, University of Liechtenstein, Vaduz studied law and business administration in Vienna and worked as a research assistant at the University of Vienna. He then started his tax practice with Leitner+Leitner, Vienna and Salzburg and finished his doctorate in both law and business administration. His doctoral thesis in business administration

7 deals with the taxation of life insurance contracts in Austria from the insuree s perspective. Since 2008, he worked as an assistant Professor at the chair of Tax Management and the Laws of Liechtenstein and International Taxation at the University of Liechtenstein where he cooperates with the Liechtenstein government and tax administration on national and international tax issues. Further, he regularly publishes in scientific journals and commentaries laying his focus on Austrian tax law. Prof Dr Moritz Kuhn, University of Zurich/Meyer Müller Eckert Partners, Zurich is a partner at Meyer Müller Eckert Partners and Professor for Private and Insurance Law at the University of Zurich. He is president of the Swiss Insurance Brokers Association (SIBA) and member of the Presidential Council of the International Association of Insurance Law (AIDA). Moritz studied law at the University of Zurich and did an introduction into Anglo-Saxon Law at the University of Cambridge. He habilitated for private and insurance law at the University of Zurich. Moritz was president of the Supreme Court of the Canton of Zurich from April 2002 to June He specializes in commercial law, private and public insurance law, economic law, medical law, medical malpractice and mandate law. He has authored several books, articles on liability, commercial, economic and insurance law, law of obligation, corporation law, medical law, medical malpractice and financial services. Prof Dr Guglielmo Maisto, Partner Maisto e Associati, Milan/Rome/London graduated in law from the University of Genoa and obtained a diploma in European law at the University of Amsterdam. He is the founding partner of Maisto e Associati, a tax firm based in Milan, Rome and London. He is professor of tax law at the Universita Cattolica del S. Cuore in Piacenza, Chairman of the Board of Trustees of the International Bureau of Fiscal Documentation in Amsterdam and a member of the Permanent Scientific Committee of the International Fiscal Association (IFA). He has authored several books and publications on taxation and sits on the editorial board of several tax journals. Dr Monica Mächler, Attorney-at-law, Pfäffikon served since January 2009 until the end of September 2012 as Vice Chair of the Board of Directors of the Swiss Financial Market Supervisory Authority (FINMA), after having been the CEO of the Swiss Federal Office of Private Insurance from 2007 to In the International Association of Insurance Supervisors she was a member of the Executive Committee and Chair of the Technical Committee. After having earned her doctorate degree in law at Zurich University in 1984 with a thesis in Private International Law Monica practised in a law firm specialized in banking law. In 1990, she joined the Zurich Financial Services Group where she became the Group General Counsel and Head of the Board Secretariat, then a member of the Group Management Board. Monica has served on several expert commissions of the Swiss Confederation, is a lecturer in an international business law program at Zurich University, and publishes regularly in the area of regulation and international law. Juan Manuel Moral, KPMG, Madrid graduated in law from the University of Madrid and obtained a diploma from Insead. Juan Manuel started his career at Arthur Andersen from 1987 to 1992 before joining Cuatrecasas. He is a KPMG s partner in Spain since 2010 specialized in Financial Services Taxation. He has an extensive experience advising financial institutions and their clients in a local and international framework. He advises on all kinds of financial operations, investments, issues, structures, transactions and contracts. Ranked among the top tax advisors in the Spanish banking and finance sector, he is highly regarded by several financial institutions for which he works frequently. Juan Manuel writes regularly for general and financial newspapers, and is a professor at different universities and master schools, and also speaks regularly at specialized seminars and forums. Filippo Noseda, Withers LLP, London is a dual qualified English solicitor/swiss lawyer, he studied law at the University of Zurich and the London School of Economics. Fluent in French, German, English and Italian, Filippo heads the International Wealth Planning Group of Withers LLP in London. Withers LLP specialises in compliant tax planning and wealth structuring for international families. Filippo s work in this area has won him international recognition: he advised two separate governments on the introduction of private foundations laws, successfully lobbied the Swiss government in relation to its draft law on the recognition of trusts (subsequently enacted) and took part in a study of the Organisation for Economic Co-operation and Development (OECD) on the taxation of High Net Worth individuals. Filippo is a lecturer at King s College in London and the University of Muenster, Germany. Roland A. Pfister, Lucerne University of Applied Sciences and Arts/Tavernier Tschanz, Geneva studied law at the Universities of Neuchâtel and Granada. After the completion of his law degree, he worked for an international law firm in Belgium and a leading investment bank in Zurich, after which he joined the

8 tax department of one of the «Big Four» firms. In 2008, he started to work on his doctoral thesis. In addition, he has an Executive MBA in Wealth Management and was a Visiting Researcher at Harvard Law School. In 2011, he started working as a Tax Advisor at Tavernier Tschanz in Geneva. He is a regular contributor to tax journals, and lectures frequently at Universities as well as postgraduate tax programs. His main areas of expertise include Swiss, Liechtenstein and International tax laws for individuals and corporations including funds, trusts and foundations. Pia Tischhauser, Boston Consulting Group, Zurich is a Partner and Managing Director of The Boston Consulting Group (BCG) in our Zurich office. She is part of BCG s global Insurance Leadership Team and heads our Insurance practice in Switzerland. Over the last 14 years with BCG, she has worked on strategy, growth, transformation and due diligence projects for large insurance companies across Europe, the US, the Middle East and North Africa region and other emerging markets. Most recently her focus has been on the impact of low interest rates on insurance companies. Before joining BCG, Pia was working in investment banking and was a graduate scholar at J.L. Kellogg Management School and holds a Master in Economics and Linguistics from the University of Berne, Switzerland. Alessandro Tulli, Swiss Life S.A., Zurich earned a law degree from La Sapienza University in 2002, and a LL.M. in law and economics from the Ludwig-Maximilans-Universität of Munich in Admitted to the bar since 2006, he has started his career in Germany at the Hypovereinsbank before moving to Ernst & Young s tax division. From 2008 he lives and works in Zurich, where he is employed at Swiss Life International. Currently, he is heading the Product Management and Solutions Structuring department at Swiss Life (Luxembourg) S.A., where he is responsible for the development of insurance and wealth planning solutions for (U)HNWI clients. Dr Jurgen Vanhoenacker, Lombard International Assurance, Luxembourg holds a PhD degree in applied economics and MBA from the University of Leuven (Belgium). Jurgen has over 20 years of experience in the wealth management industry. He has been with Lombard for the last 13 years and is heading up the Sales and Marketing activity together with Patrick Mina. Prior to Lombard, Jurgen worked for PricewaterhouseCoopers and for Banque Indosuez (now Credit Agricole). Dr Christian von Oertzen, Flick Gocke Schaumburg, Frankfurt is lawyer, certified tax lawyer and partner in the German firm Flick Gocke Schaumburg. He is head of the private client department in the Frankfurt office. He advises UHNWI and HNWI and German middle market companies in connection with estate planning, income, capital gains and inheritance tax planning. He is an International Fellow of the American College of Estate and Trust Law, Washington D.C. and member of the International Academy of Estate and Trust Law, San Francisco and member of the Society of Trust and Estate Practitioners (STEP). He lectures on a regular basis in Germany and abroad on these topics. He is author on the first and only book on asset protection planning under German laws which was just recently published in its second edition. Dr Marcel Widrig, PricewaterhouseCoopers AG, Zurich is a partner in the Tax and Legal Services department of PricewaterhouseCoopers A.G. in Zurich and is heading the private clients and entrepreneurial business in Switzerland, focusing on international structuring of entrepreneurs with their enterprises and family offices, top managers and private individuals with complex wealth structures. Marcel is a lecturer at the University of Zurich at the University of St. Gallen and Neuchâtel (Master in International Taxation). Marcel is a member of the Swiss Fiduciary Chamber, Swiss Association of Certified Tax Experts, and International Fiscal Association (IFA). Daria Zernova, Russian tax lawyer, Zurich studied law at St. Petersburg State University, Russia and graduated from Leiden University, the Netherlands with an LL.M. degree in International Tax Law. She started her legal career at the American law firm Chadbourne & Parke LLP after which she joined Mannheimer Swartling, the leading business law firm in the Nordic region. She advised Russian and multinational companies on a variety of regulatory, corporate, commercial, transfer pricing and tax matters and assists corporate and individual clients in tax restructuring and international tax planning transactions. In 2011, she joined the Wealth Management arm of the leading Swiss bank, where her focus remains Russian and international tax law.