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Agenda12.00 - 13.00JST
Registration & Networking Lunch
13.05 - 13.25JSTMoody’s Macro View: Global and Japan Economic Outlook: Fault Lines
PRESENTATION
- How will geopolitical upheaval and trade frictions affect the global and Japanese economies?
- Will the artificial intelligence boom keep lifting corporate profits, financial markets, and the real economy?
- As global growth and inflation dynamics shift, can governments and central banks avoid policy mistakes?
- What will a tougher global backdrop and policy changes mean for exchange rates?
- How will shifts in bond yields affect capital flows?
13.25 - 14.10JSTKeynote Fireside Chat: Towards Further Evolution of Tokio Marine
- Aspirations and Awareness of Challenges
- Outlook and Key Strategies for Domestic and International Insurance Markets
- M&A and Inorganic Growth Strategies
- Policy on Utilization of Funds from Policy Equity Sales
- Expansion of Solution Business (Non-Insurance Business)
14.10 - 15.00JSTInsurance strategy amid market uncertainty
PANEL DISCUSSION
- How are changes in the financial environment, such as rising domestic interest rates, higher equity prices, and increased foreign exchange volatility, affecting insurers' investment strategies and asset-liability management?
- As insurers place greater emphasis on the ESR framework, how do they balance financial soundness and capital efficiency, and how do they determine their risk appetite?
- How do insurers decide which risks to retain and which risks to transfer through reinsurance? In addition, how do they position asset-intensive reinsurance within their overall risk management strategy?
- How do insurers view the growing allocation to alternative assets, including private credit, and what are their expectations for future developments?
15.00 - 15.30JSTNetworking Break
15.30 - 15.45JST15.45 - 16.30JSTThe Growing Role of ILS in Risk Transfer: Implications for Japanese Insurers and Investors
Panel Discussion
- Recent market developments and drivers of the global ILS market
- Understanding and quantifying catastrophe risk through models and analytics
- Key considerations and opportunities for Japanese insurers and investors participating in the ILS market
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Alka Anbarasu is an Executive Director - Ratings in the Financial Institutions Group in Asia. Based in Singapore, Alka is responsible for Moody's analytical teams covering ratings and research on banks, insurance companies, and non-bank financial institutions in Japan, ASEAN and Indian Sub-continent. Alka also coordinates the Global Financial Institution Group's efforts on Environmental, Social and Governance (ESG) scoring and research. Alka is a regular speaker at Moody's market briefings, external conferences podcasts and broadcast media. She is very active in promoting Diversity, Equity and Inclusion (DE&I) initiatives and is a passionate impact leader for Moody's Community Impact initiatives in Asia.
Alka joined Moody's in 2013 and over the years has led the ratings of several high profile Asian financial institutions. Prior to joining Moody's, she worked in the investment banking division of J.P. Morgan in London and Mumbai and ING Vysya Bank in India. She has close to 20 years of experience in the financial industry. Alka holds an MBA from the Xavier Institute of Management in India.
Stefan Angrick is a director at Moody’s Analytics in Tokyo. He leads the firm’s country risk analysis and oversees scenario analysis, climate modeling, and nowcasting for the Asia-Pacific region. As head of Japan and frontier market economics, he directs research on Northeast Asia and small emerging economies globally. Stefan’s research focuses on trade, foreign direct investment, and portfolio flows.
His work is regularly quoted in major international media, including the Financial Times, The Wall Street Journal, and Reuters. He frequently appears on CNBC, Bloomberg TV, and BBC, and contributes op-eds to the Financial Times and Nikkei. Stefan holds a PhD from Tokyo’s National Graduate Institute for Policy Studies, a master’s degree from Leipzig University, and spent a year studying at Shanghai Jiao Tong University. He has previously held positions with Oxford Economics, the Asian Development Bank Institute, the Bank of Finland, and Keio University. His academic work has been published in leading journals such as the Cambridge Journal of Economics and the International Journal of Central Banking.
Career:
April 1987 Joined Tokio Marine and Fire Insurance Co., Ltd.
Aug 2011 General Manager, Corporate Accounting Dept. of Tokio Marine & Nichido
July 2012 General Manager, Representative in New York (Tokio Marine North America, Inc.) of Tokio Marine & Nichido
April 2016 Associate Director and General Manager, Representative in New York (Tokio Marine North America, Inc.) of Tokio Marine & Nichido
April 2017 Managing Director of Tokio Marine & Nichido Life Insurance Co., Ltd. (“Tokio Marine Nichido Life”)
March 2018 Resigned from his positions as Managing Director of Tokio Marine & Nichido Life
April 2018 Executive Officer and General Manager, Financial Planning Dept. of Tokio Marine Holdings
Executive Officer and General Manager, Financial Planning Dept. of Tokio Marine & Nichido
April 2020 Managing Executive Officer of Tokio Marine Holdings
Managing Executive Officer of Tokio Marine & Nichido
June 2020 Managing Director of Tokio Marine & Nichido
June 2020 Managing Director & Group Chief Investment Officer of Tokio Marine Holdings
April 2022 Managing Executive Officer of Tokio Marine & Nichido
June 2022 Managing Executive Officer & Group Chief Investment Officer of Tokio Marine Holdings
March 2024 Resigned from his position as Managing Executive Officer of Tokio Marine & Nichido
April 2024 Managing Executive Officer of Tokio Marine Holdings (Deputy Head of International
Business in charge of Asia, excluding China and East Asia) (to present)
April 2026 Managing Executive Officer & Group Chief Financial Officer of Tokio Marine Holdings (to present)
Managing Director of Tokio Marine & Nichido(to present)
Eiji is a Vice President - Ratings, responsible for rating Japanese banks and insurance companies at Moody's Japan K.K. He rejoined Moody's in June 2026.
Prior to rejoining Moody's, Eiji worked at Mitsubishi UFJ Morgan Stanley Securities, providing rating and financial strategy advice, and at S&P Global Ratings, where he served as a Director, engaging in credit analysis for financial institutions. Prior to that, He worked at Moody's and audit firms, handling credit analysis and auditing for financial institutions.
Eiji holds a bachelor's degree from the Faculty of Economics at Keio University and is a CFA charterholder.
Employment Experience
1984 : Joined Fukoku Mutual Life Insurance Company
1987 : Transferred to London (London Representative Office) as Representative
1992 : Transferred to International Finance Division
1999 : Transferred to London (London Representative Office) as chief representative
2002: Transferred to Manger, International Finance Div.
2005：Transferred to Manger, Equity Management Div.
2010：General Manager, Equity Dept..
2017：Executive Officer, Equity Dept.
2018：Executive Officer, Securities Investment Dept.
2022：Managing Executive Officer, Corporate Sales Dept.
2024：Member of the Board Director and Managing Executive Officer
2024：Member of the Board Director and Managing Executive Officer / CIO
Takeko Uemoto is a Senior Principal with the Actuarial Practice of Oliver Wyman and is based in New York. She has over 25 years of insurance industry experience in both Japan and US. Her areas of expertise include reinsurance strategy, Japanese insurance business, ALM, and capital framework.
Takeko joins us from Aflac, where she served as Senior Vice President and Global Reinsurance Officer of Aflac Incorporated and Chief Actuary for its Bermuda subsidiary, Aflac Re. Prior to working for Aflac, Takeko worked with Prudential, Goldman Sachs Asset Management, Ernst and Young and Great American Insurance Companies.
Relevant Experience
- Reinsurance
- Built and managed a global and cross-functional reinsurance strategy program
- Led a global project team to establish a reinsurance subsidiary in Bermuda
- Oversaw valuation, morbidity risk analysis, SBA application, structuring, and pricing for Bermuda reinsurer
- Managed reinsurance structuring analysis and US statutory valuation of the reinsured affiliated Japan business to the US
- Global capital, risk, ALM, and valuation
- Provided an in-person ESR education session for the BMA and BILTIR
- Launched and led global IFRS implementation program for international business
- Led actuarial audit of US GAAP, US Statutory and IFRS for life insurers
- Implemented economic capital, stress test, model risk, Solvency II, and IAIS ICS FT in international business
- Led strategic asset allocation analyses project for clients in Asia and the US
- Created ALM dashboard and surplus roll-forward analytics. Integrated risk appetite and capital management
- Modeling
- Modeled assets, liabilities, and ALM of many insurance product lines
- Managed MoSes actuarial software management and global Prophet implementatio
Speaking Engagements and Professional Activities
- SOA Annual Meeting – Japan’s new capital framework, reinsurance strategy – 2023, 2024
- BILTIR Annual Conference – A panelist of Bridging Markets – Life Reinsurance Opportunities and Insights from Japan – 2024
- SOA Employer’s Council Member – 2022–2025
- BILTIR Global Advocacy Committee Japan subcommittee chair – 2023–2025
- BILTIR GAC Japan subcommittee ESR education sessions for BILTIR and BMA, 2024, 2025
Tomoya Suzuki is a Senior Vice President with the Financial Institutions Group (FIG), based in Tokyo.
He is responsible for Moody’s analytical team covering ratings and research on banks, securities firms, finance companies, and insurers in Japan, and also serves as a lead analyst for a select group of large and complex Japanese issuers.
Beyond his FIG responsibilities, Tomoya provides senior analytical leadership in Japan, acting as a central coordinator across rating groups and helping deepen Moody's engagement with issuers, investors, intermediaries, regulators, and other key stakeholders.
He is a strong advocate for inclusion, talent development, cross-functional collaboration, digital innovation, and employee engagement. From 2021 to 2024, he served as Co-Chair of Moody’s APAC Enable Business Resource Group, which advances disability inclusion and neurodiversity awareness across the organization, and he has contributed to various global initiatives, including the Digital Economy.
Before joining Moody’s Ratings, Tomoya worked in credit risk management at Credit Suisse in Tokyo, and in credit investment at a Japanese bank.
Tomoya holds a Bachelor of Arts in Finance and International Business from the University of South Carolina.
Kensuke Ogawa is an AVP - Ratings with the Financial Institutions Group at Moody’s Ratings. Based in Tokyo, he covers a portfolio of major Japanese banks and insurers.
Kensuke first worked for Moody’s in January 2020 as an Associate Analyst, joining the company after working for a Japanese life insurer in Tokyo and London, and a foreign asset management company as a credit analyst. He left Moody’s for a Japanese asset manager in 2021, and rejoined Moody’s in 2023.
Kensuke holds a Master of Business Administration from Hitotsubashi University and a Bachelor of Engineering from Osaka University. He is a CFA Charterholder.
Christer Pehrson is Global Head of ILS Client & Market Development at Moody’s, where he leads global engagement with insurance‑linked securities investors, sponsors, and intermediaries. He is responsible for supporting the development and adoption of Moody’s analytics, modelling, and market capabilities across the ILS ecosystem, including catastrophe bonds, insurance‑linked funds, and alternative risk transfer structures.
His work focuses on strengthening market transparency, supporting innovation, and enabling informed risk transfer through the use of independent analytics and insight.
Prior to his current role, Christer held a number of senior leadership positions at Moody’s RMS, including Managing Director roles with responsibility for Global Accounts, European client relationships. He most recently was Head of the Brokers and ILS Sales. Before joining Moody’s, he held senior Managing Director roles at Guy Carpenter and Aon, working with leading global insurance and reinsurance organizations.
Alka Anbarasu is an Executive Director - Ratings in the Financial Institutions Group in Asia. Based in Singapore, Alka is responsible for Moody's analytical teams covering ratings and research on banks, insurance companies, and non-bank financial institutions in Japan, ASEAN and Indian Sub-continent. Alka also coordinates the Global Financial Institution Group's efforts on Environmental, Social and Governance (ESG) scoring and research. Alka is a regular speaker at Moody's market briefings, external conferences podcasts and broadcast media. She is very active in promoting Diversity, Equity and Inclusion (DE&I) initiatives and is a passionate impact leader for Moody's Community Impact initiatives in Asia.
Alka joined Moody's in 2013 and over the years has led the ratings of several high profile Asian financial institutions. Prior to joining Moody's, she worked in the investment banking division of J.P. Morgan in London and Mumbai and ING Vysya Bank in India. She has close to 20 years of experience in the financial industry. Alka holds an MBA from the Xavier Institute of Management in India.
Will is a Director at Moody’s and leads the Insurance Advisory team across Asia-Pacific. Based in Asia since 2012, he works with insurers across the region on actuarial modelling, economic scenario generation, risk management and related insurance advisory engagements.
Will joined Barrie & Hibbert, subsequently acquired by Moody’s Analytics, in 2011, initially working on model calibration and investment governance. Prior to this, he was a Performance and Risk Manager at Alliance Trust Asset Management. He holds an MSc in Applied Mathematics from Heriot-Watt University, a BSc in Mathematics from the University of Edinburgh, and is a CFA charterholder.
Ken Motoi is the Representative Director of Moody’s Analytics Japan, responsible for overseeing the delivery of all Moody’s businesses and services to clients across Japan.
Since joining Moody's in 2022, he has held several roles within the Global Sales organization, beginning as a Relationship Manager for major financial institutions and later leading Moody's Global Sales business in Japan from 2025.
Before joining Moody’s, he was a Product Specialist for cybersecurity solutions at a leading U.S.-based technology company, where he helped organizations enhance their risk management capabilities by implementing cyber risk management solutions.