5 open forum by tommy

Tommy Pichet, Pichet, FSA, FIA, FSAT

The impact of the introduction of the Thai RBC framework

Impact of RBC to Insurance Company

1

Tommy Pichet, Pichet, FSA, FIA, FSAT

Risk-Based Capital Framework in Thailand Encourage risk management • Index for financial health of company •

Assist bureau and insurance company to monitoring financial status and risk • Consistent to “fair value” concept •

Impact of RBC to Insurance Company

2

Tommy Pichet, Pichet, FSA, FIA, FSAT

Impact on investment strategy • Will

equity allocation help to manage your business?

• Property investment, good or bad?

• Corporate vs Government bond?

Impact of RBC to Insurance Company

3

Tommy Pichet, Pichet, FSA, FIA, FSAT

Impact on product strategy RBC projection?

• Cost of capital? VoNB / EV? • Repricing? Which one?

• Communication? To whom?

•

Impact of RBC to Insurance Company

4

Tommy Pichet, Pichet, FSA, FIA, FSAT

Tommy Pichet

FSA, FIA, FSAT, FRM, MBA, MScFE (Distinction), B.Eng (Hons)

Tommy Pichet qualified as a Fellow of the Society of Actuaries (USA) in 2005, a Fellow of the Society of Actuaries of Thailand in 2006, and a Fellow of the Institute of Actuaries (UK) in 2008. He further obtained his Master degree of Science in Financial Engineering (MScFE) in 2007 and Master of Business Administration (MBA) in 2009 on a part time studying program in Hong Kong.

He is also certified Financial Risk Manager (FRM速) Holders.

Mr. Pichet has gained extensive years of experience in both local and regional office with various actuarial skill sets in product development, financial reporting bases, and capital management. He has also profound practical experience and specialization in both Life and Accident & Health business. Currently, he is assigned to work as a head of corporate actuarial in AIA Thailand.

Mr. Pichet has been active with the actuarial profession for a number of years, and he has also been a SOA Ambassador (USA). He is frequently invited as a guest speaker of City University of Hong Kong, Sasin Graduate Institute of Business Administration, Chulalongkorn University, Thammasat University, NIDA, and other leading organizations to the MBA students, finance students, public, and inhouse training in the topics of risk management, financial management, and actuarial science.

Impact of RBC to Insurance Company

5