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Provided by: FitchTraining Introduction to Insurance Financial StatementsInsurance |
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Training
Provided by FitchTraining
A one-day workshop for those new to the analysis of insurance companies, covering the basics of insurance company financial statements. This workshop is a preparation for the Insurance Company Analysis workshop.
Related Awards, Degrees or Certifications: Earn CPD credits
We are an accredited training provider with a number of institutions including:
ACCA
NASBA
Securi
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Introduction to Insurance Financial Statements
Course Objectives
Participants will be equipped to:
Distinguish the risks inherent in the main products offered by life, non-life and re-insurance companies and recognise how they are reflected in the financial statements
Understand the components of an insurance company technical account, income statement and balance sheet
Recognise the impact of differing accounting standards, reserving policies and changes in external variables (such as interest rates and asset prices) on the financial statements
Calculate and apply basic ratios to quantify an insurance company's performance.
Target Audience
This programme is designed for analysts, who have limited or no experience in the analysis of insurance company financial statements. The workshop is designed as a preparation for the Insurance Company Analysis and US Insurance Company Analysis workshops.
Fitch Training offers this programme at an introductory level. There are no prerequisite courses or knowledge to attend this course.
Content
STATEMENT LOGIC
Types of insurance company
Life, non-life and re-insurance
Relating the business to the balance sheet and income statement
Key activities and products
Risk profile and accounting for differing products
Non-life products - short tail and long tail lines
Life products - term assurance, with profits (endowment), guaranteed investment contracts, annuities, asset management and other savings products
Re-insurance - treaty and facultative re-insurance.
Accounting and disclosures
Sources of information and quality of disclosure
Financial statements - technical / revenue accounts and regulatory filings, balance sheet and income statement, cash-flow analysis
Premium accounting - gross versus net, written versus earned
Claim accounting non-life - claims incurred versus paid, un-expired risks
Claim accounting life - benefits and surrenders, annual and terminal bonuses
Technical reserves - claims reserves, unearned premiums, mathematical provisions, equalisation and investment reserves
Investment accounting - marked to market versus cost accounting
Impact of re-insurance on assets, liabilities and claims
Intangible and other assets - deferred acquisition costs, PV in force business, embedded value
RATIO ANALYSIS
Investment risk - types of investment and quantifying investment risk
Underwriting risk - claims / loss ratio, combined ratio and other indicators of underwriting performance, reserve adequacy
Profitability - key profitability ratios
Capital adequacy - types of capital and ratios used to measure gearing and capital adequacy.
Participants will be equipped to:
Distinguish the risks inherent in the main products offered by life, non-life and re-insurance companies and recognise how they are reflected in the financial statements
Understand the components of an insurance company technical account, income statement and balance sheet
Recognise the impact of differing accounting standards, reserving policies and changes in external variables (such as interest rates and asset prices) on the financial statements
Calculate and apply basic ratios to quantify an insurance company's performance.
Target Audience
This programme is designed for analysts, who have limited or no experience in the analysis of insurance company financial statements. The workshop is designed as a preparation for the Insurance Company Analysis and US Insurance Company Analysis workshops.
Fitch Training offers this programme at an introductory level. There are no prerequisite courses or knowledge to attend this course.
Content
STATEMENT LOGIC
Types of insurance company
Life, non-life and re-insurance
Relating the business to the balance sheet and income statement
Key activities and products
Risk profile and accounting for differing products
Non-life products - short tail and long tail lines
Life products - term assurance, with profits (endowment), guaranteed investment contracts, annuities, asset management and other savings products
Re-insurance - treaty and facultative re-insurance.
Accounting and disclosures
Sources of information and quality of disclosure
Financial statements - technical / revenue accounts and regulatory filings, balance sheet and income statement, cash-flow analysis
Premium accounting - gross versus net, written versus earned
Claim accounting non-life - claims incurred versus paid, un-expired risks
Claim accounting life - benefits and surrenders, annual and terminal bonuses
Technical reserves - claims reserves, unearned premiums, mathematical provisions, equalisation and investment reserves
Investment accounting - marked to market versus cost accounting
Impact of re-insurance on assets, liabilities and claims
Intangible and other assets - deferred acquisition costs, PV in force business, embedded value
RATIO ANALYSIS
Investment risk - types of investment and quantifying investment risk
Underwriting risk - claims / loss ratio, combined ratio and other indicators of underwriting performance, reserve adequacy
Profitability - key profitability ratios
Capital adequacy - types of capital and ratios used to measure gearing and capital adequacy.
About The Training Provider: FitchTraining
FitchTraining - Fitch Training is a specialist training firm focused on the provision of credit and corporate finance training. Courses are offered in three areas: financial institutions, corporate credit and securitization. Fitch Training is part of Fitch Solutions, a division of the Fitch Group. We also work in partnership with Fitch Solutions to provide quantitative training.
Fitch Training operates...
