NRW.INVEST, the economic development agency of the huge North Rhein Westphalia region of Germany, is to hold a roundtable discussion on the changing investment trends for insurance companies and asset managers in the light of the UK’s departure from the European Union (Brexit) in London on March 11. The meeting of experts is hosted by OMFIF, the highly respected independent think tank for central banking, economic policy and public investment and will be held at 34 Belgravia Square, the home of the British German Association.
Key topics of discussion at this high-level discussion include:
- Germany’s macroeconomic overview and forecasts for the future;
- How German companies can derive opportunity from a post Brexit world;
- Preparing for a no-deal scenario & exercising contingency plans;
- Challenges and opportunities for investors in a post Brexit environment;
- Assessing the current risks for insurers and asset managers and what can be done to mitigate and manage these risks; and,
- Technological advancements and key priorities in an age of digital disruption and transformation.
High level speakers include Werner Görg, Chairman of Supervisory Board, at Cologne-based Gothaer Allgemeine Versicherung and also President of the Cologne Chamber of Industry and Commerce, Michael Kordus, Head of Divison, NRW.INVEST, Klaus Bauknecht, Chief Economist, IKB Deutsche Industriebank, Martin Mankabady, Partner at international law firm Dentons and David Marock, Chief Executive Officer, Charles Taylor, the leading international loss adjusting business.
The event will be concluded with a lively panel discussion on Brexit and opportunities and challenges for insurers and asset managers hosted by Chris Ostrowski, OMFIF with contributions from Alexander Hoeckle of the IHK, Michael Kordus of NRW.INVEST and Sebastian Pitzler, Managing Director of InsurLab, the largest networking platform in Germany connecting insurance companies, corporations, and start-ups that was formed in March 2017 in Cologne as the official InsurTech centre in Germany. NRW.INVEST is investing heavily in showcasing to UK business what opportunities lie await in the North Rhein Westphalia region of Germany post Brexit. Last June the German Economic and Digital Affairs Minister Prof. Dr. Andreas Pinkwart opened a new NRW.INVEST UK/London office in the UK capital together with Petra Wassner, CEO of NRW.INVEST. Some 1,500 of the 19,000 foreign companies in North Rhine-Westphalia come from the UK. That is 22.1 percent of all British firms in Germany, including such well-known companies as BP, Dyson, Lush and Vodafone.
At the time of the new office launch, Minister Pinkwart said: “NRW is the leading German federal state in terms of direct investments by British companies. We want to intensify these close relationships in times of Brexit and hope to be able to welcome even more British companies to North Rhine-Westphalia in the future.” The NRW.INVEST effort comes in tandem with a similar effort carried out by the City of Cologne and Cologne Chamber of Commerce and Industry (IHK) – known as Insurance Hub Cologne (www.insurance-hub.Cologne) – to promote what the ancient trading city has to offer UK-based insurers and reinsurers as they consider the best place to base themselves to access German and wider European business post Brexit.
Reiner Gleiss, senior consultant to the Insurance Hub Cologne effort will attend the NRW.INVEST roundtable in London and said that he is impressed by the way in which both German and British businesses are working hard to make sure that opportunities as well as challenges arise from the Brexit situation. “The UK electorate voted for Brexit and the UK government has to deliver what the people voted for, no matter how difficult this proves to be for politicians and business. It is great to see that bodies such as NRW.INVEST and the City of Cologne and IHK are working hard to help UK businesses find solutions to the challenges presented by Brexit while at the same time promote the great opportunities on offer in this vibrant, modern and innovative city and wider NRW region. The very basis of insurance is to deliver solutions for problems that enable economic activity to continue and flourish. I am looking forward to hearing what these experts have to say in this discussion,” commented Mr Gleiss.
A full report on the discussion held during this meeting will be published on the Insurance Hub Cologne web site.