The 2nd annual Adam Smith Ukrainian Insurance Forum took place on 2nd – 4th June 2009 at the Premier Palace Hotel in Kyiv and we would like to issue a big thankyou to all speakers and delegates for their lively contributions to proceedings.

Despite the difficult economic climate both internationally and in Ukraine over 100 attendees from 10 countries took part over the 3 days of the forum. In many ways the forum was more productive than ever, as attendees appreciated receiving the latest market information from the expert speaker panel and took particular advantage of the networking and interactive sessions to share experiences and seek common solutions with their peers.

The 35-strong speaker faculty was headed up by some of the most influential figures in Ukrainian and international insurance circles, including:

• Victor Suslov, Head of the Financial Services Commission, who highlighted the key trends in the market and the priority areas for the Commission. He noted that the level of premiums collected had fallen, but more worryingly for the level of confidence in the market, the level of claims payouts had decreased for the first time in a number of years. Attendees particularly appreciated that Mr Suslov found time in his busy schedule to return to the forum to take further participation in the discussions;
• Bengt Westergren, Senior Vice President with AIG, and a respected figure in the industry, who had spearheaded AIG’s pioneering expansion into Ukraine and the wider region, moderated the opening sessions and set the tone for proceedings with his incisive views on the development of the insurance market in Ukraine and her neighbours;
• Olexander Zavada, President of the Ukrainian Insurance Federation and Olexander Zaletov, Deputy General Director of the League of Insurance Organisations, both joined the opening plenary session – the first time that the 2 leading insurance organisations had shared a public platform. Attendees noted that the 2 organisations held similar positions on many of the key issues;
• Tatiana Sysoeva of the State Tax Administration stated that the largest players in the market account for an inordinately large proportion of the tax payments from the insurance sector to the state;
• Anthony Pearce, Honorary Director-General of the International Road Federation, gave a guest presentation in which he highlighted the important role that insurers can play in developing a road safety culture in Ukraine and pointed out the commercial benefits that could be achieved through lower levels of claims.

They were joined on the speaker panel by top executives from:

• Leading domestic players such as: Oranta, Ingo, TAS, LEMMA, Brokbusiness, Illichevske, Prosto-Insurance. Life & Pension, Ukrainian Insurance House, Omega and ASKA;
• Key international entrants, including: Generali Garant, Axa, IMG, QBE, Fortis, KD-Life and UNIQA;
• Other important market participants, featuring the Society of Actuaries of Ukraine, Horizon Capital, LIMRA, Oakeshott, DEDAL, Milliman, UNDP Blue Ribbon Centre and the International Finance Corporation.

Tom Manson of Manson McCall conducted an in-depth workshop on M&A and Market Consolidation in the Ukrainian Insurance Industry, which attendees found to be of particular benefit, highlighting the exciting and cost-effective opportunities that currently exist to gain market share.

Attendees concluded by underlining that the Adam Smith Ukrainian Insurance Forum is now a firm fixture in the calendars of all top decision-makers in the industry and look forward to reconvening against a more positive economic background in Kyiv in June 2010.

For information on the 3rd Ukrainian Insurance Forum and how you may get involved, contact Stephen Butler, Managing Director, Ukraine, on +44 20 7017 7450 or at stephen@adamsmithconferences.com ;

To learn how you may become a corporate partner of the Forum in 2010, contact Eugene Andrus on +44 20 7017 7427 or at eugene@adamsmithconferences.com ;

For media partnership and press accreditation, contact Lyudmila Durneva on +44 20 7017 7339 or at lyudmilad@adamsmithconferences.com .