Understanding Insurance Finance Workshop

Two half-days

This live on-line interactive webinar, spread over two half days, is an antidote to the mystique that surrounds finance!

The workshop introduces the concepts, dynamics and the jargon of insurance finance. It demonstrates how the basic financial principals still apply to insurance, but highlights where it is unique.

In a world where economic volatility will test the resilience of insurance companies, prudential management, capital adequacy and financial competence are on the agenda. This is prompting a stronger and widespread desire for every part of the business to “understand the numbers”, especially the industry’s financial exposures and the elements that contribute to profit (or loss) and capital adequacy.

Summary

 Dates: Optional

Timings: 09:30-12:45 (UK)

 Duration: 2 half-days

 No of attendees: Up to 12

Format: Online - virtual delivery

CPD: Recognised

Trainer: John Constable

Workshop Overview

This two half-days online interactive Training Workshop, will cover: 

• Insurance working capital cycle
• The economic characteristics of insurance: sources of opportunity and risk?
• Key accounting labels, concepts and rules: the fundamental accounting challenge
• The mechanics of premium: written/earned, gross/net, unearned premium reserves
• Acquisition costs and operational expenses
• The mechanics of claims: paid, outstanding and IBNR,
• Unexpired risk reserves/ claims equalisation reserves
• The P and L impact of prior year development: Reserve release or IBNER?
• The treatment of reinsurance
• A brief introduction to investment considerations: types of assets and asset liability matching
• Constructing the P&L (technical and non-technical account) and interpreting the balance sheet
• Key ratios: the combined operating ratio and its component parts, return on capital/equity
• Liquidity, solvency and capital adequacy
• Comparison with the Solvency II balance sheet

What will I get by attending the workshop? 

• Identify the financial characteristics that make insurance distinct from other industries
• Describe the insurance cash flow cycle, and the main dependencies
• Explain main accounting rules and how they are applied to measurement and reporting
• Describe the key terms – the language of insurance finance
• Explain the financial treatment of the drivers of profit (or loss…..)
• Explore the crucial role of financial assets and investment income to the ultimate result
• Navigate and interpret the profit and loss/income statement and balance sheet/Statement of Financial Position
• Appreciate the requirement for solvency and capital adequacy, and what this means in practice

Who should attend?

No matter your function, viewing the industry and your own firm through the lens of finance reveals the risks, dependencies and opportunities. Being able to understand where the numbers come from and the ultimate measures of business success brings immense career benefits. 

Corporate Solutions

As part of our commitment to advancing professional standards within the sector, the CII offers a comprehensive suite of training and development solutions. These are designed to provide a structured, collaborative approach to skills enhancement, fully aligned with our internationally recognised Professional Map.  We offer workshops covering exam revision, technical training and business and leadership topics. 

Whether you're looking to upskill employees, support career progression, or drive business success, our bespoke training solutions can elevate and future proof the competencies required across your workforce. 

A full list of courses can be viewed in our Training Catalogue.

Corporate (in-house) request

To book this workshop for your company as an in-house training session for between 7-16 Delegates, on a date that's convenient for you, please register your interest here:

Register your interest in our other courses

To register your interest for any of our other courses, or to suggest a course that is not listed, please complete the form below:

To book in-house training for your company, you must have a CII Corporate Account.

To register for this workshop or to request further information, please contact us at: business.enquiries@cii.co.uk 

Please note our workshops are priced using British Pound Sterling (GBP). The final purchase cost will be processed using the relevant international currency conversion rate at the point of sale. Contact us for further information.

Your booking will only be confirmed, once you receive a booking confirmation email from the training team.

Please ensure you refer to our terms and conditions before booking on to any of our training workshops. By booking on to this workshop, you are agreeing to our terms and conditions and for your information to be shared with our training provider.