After 2021, LIBOR will be replaced by new risk free rates, impacting over $200 trillion in financial contracts. While much of the focus has been on banks’ large mortgage and derivatives businesses, insurance and reinsurance companies will also be impacted by LIBOR’s end.
Investments, variable annuity contracts, reinsurance agreements, derivative hedges, valuation systems, and even contracts with vendors will all need to be updated. This is no small task. Robert Ceske and Scott Shapiro of KPMG will help you understand what (re)insurance companies can (and should) be doing now to be prepared.
Mr. Ceske leads the Insurance Risk Advisory team for KPMG. He serves as the lead partner for a large primary insurance company, a large reinsurance company as well as a systemically important financial market utility (SIFMU). Mr. Shapiro has almost 30 years of insurance experience and specializes in operational improvement, analytics and automation. He leads KPMG’s Risk Consulting practice for the Insurance industry.
About SIFM: SIFM is an exclusive network of insurance financial professionals from global insurance, reinsurance companies, public accounting firms and their servicing organizations. Membership grants exclusive access to our network of industry peers, resources and expert knowledge. Click to view upcoming conference agenda.
For more information contact: Diane Mensinger (973 303 6297) or visit SIFM.org.