Insurance Analysis Courses

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1 Insurance Analysis Courses Best training course I have attended so far and it will definitely enhance the quality of my day to day job. Sophie Fall, KBL European Private Bankers S.A. Elevating knowledge and skills and enhancing conduct Bangkok Casablanca Chicago Doha Dubai Frankfurt Hong Kong Jakarta London New York Paris Riyadh São Paulo Singapore Stockholm Sydney Toronto Washington, DC enquiry@fitchlearning.com

2 Insurance Analysis Courses Why choose Fitch Learning as your provider for public courses? Instructors You will learn from the instructors how to understand the subject matter and put the topics into context. All of our instructors are experienced professionals and will provide you with easily digestible content, using knowledge learned from many years in the industry Up-to-date content You will work through current, region specific case studies taken from real companies so you can apply what you are being taught as soon as you get back to the office Interactive You can practice what you learn before applying it in the workplace. All of our courses are highly interactive with no more than 16 participants. The discursive style of training helps you develop confidence in your future decisions and analysis. Why register for a public course? Public Courses: Key Facts Over 1,300 global clients Over 300 courses per year 21 cities worldwide 94% suggest a colleague to take the same course Practical, structured courses focused on specific professional development topics Suitable for individuals or small groups with specific needs Locations Amsterdam Frankfurt San Francisco Chicago Offices Public course locations Toronto London New York Casablanca Washington DC São Paulo Stockholm Paris Doha Riyadh Tokyo Dubai Hong Kong Bangkok Singapore Jakarta Sydney Enquire about our in-house training Courses tailored to meet your specific requirements and the experience of the participants Bespoke content to meet your business objectives Delivered worldwide, ideal for groups of 6+ enquiry@fitchlearning.com to discuss your in-house training needs. 2

3 Our Insurance Analysis Courses Whether you are new to insurance analysis or an advanced practitioner, we offer courses to match your level of experience. The following courses are our most popular though we offer a wide variety as shown in the Learning Path below: Understanding Insurance Financial Statements Insurance Company Analysis Solvency II Early Warning Signals in Insurance Companies Insurance Analysis Learning Path p4 p5 p6 p7 To help you find the course which is most suitable for your level of experience, this learning path shows our recommended training journey from someone new to insurance statements to an advanced practitioner. Key: Introductory Understanding Insurance Financial Statements Intermediate Advanced Insurance Company Analysis (Europe) or Intensive Insurance Analysis (US) Solvency II Who Should Attend? Early Warning Signals in Insurance Companies Our courses are suitable for anyone analyzing exposure to insurance companies. They are designed for all levels of experience from new entrants to advanced practitioners. Our workshops are tailored for a variety of roles including: fixed income, banking, insurance and credit risk professionals, regulators, central bankers and auditors. Public courses are ideal for individuals or small groups, with specific needs. You gain the expertise of Fitch Learning s experienced instructors and the diversity of participants leads to useful perspectives and discussions. 3

4 Insurance Analysis Courses Understanding Insurance Financial Statements This two-day workshop is suitable both for beginners to analysis and for experienced analysts new to insurance companies. The course provides a clear and complete overview of insurance company financial statements, products and risks. After taking this course you will understand the key components of an insurance company's financial statements, appreciate variation according to the accounting standard used and be able to use some key ratios to analyze financial strength. Key Learning Outcomes Distinguish the risks inherent in the main products offered by non-life (P&C) and life insurance and reinsurance companies and recognize how these are reflected in the financial statements Understand the key components of an insurance company s income statement, balance sheet and cash flow statement Recognize the impact of differing accounting standards and reserving policies on the financial statements Learn to calculate and apply basic ratios to quantify an insurance company s financial strength, performance and risk profile. Excellent! Enjoyed learning about European accounting and capital standards. Very knowledgeable instructor and good study materials. Priya Mehrotra, MetLife Course Content Insurance Market Overview Covers the characteristics of the main lines of insurance and reinsurance business, and their inherent risks. Statement Logic Explains the key financial items in insurance company financial statements and how the business model is reflected in the balance sheet. Accounting and Disclosures Explores the key areas of divergence between insurance accounting standards: international differences, differences between the approaches for shareholder accounts and for statutory supervision, and embedded value reporting for life insurance. Ratio Analysis Introduces basic analysis of insurance companies using some key ratios from the financial statements and providing benchmarks of strong and weak performance in assessing strength. 4

5 Insurance Company Analysis This intermediate three-day course delivers a forensic approach to credit risk and financial strength analysis for non-life (P&C) and life insurance and reinsurance companies. Key Learning Outcomes Understand the business and financial risks inherent in the life and non-life insurance and reinsurance industries Use qualitative and quantitative analysis and market indicators to distinguish strong and weak performers by sector and to detect early warning signals of deteriorating financial strength Learn how to analyze and stress test financial statements in the context of differing accounting standards and reporting practices Appreciate how economic, competitive and regulatory issues impact the risk profile, performance and financial health of an insurance company Learn how to apply a structured approach to identify key risks and mitigants when transacting with insurance and reinsurance companies, and to appreciate the main methods of capital-raising by insurers. Excellent instructor and delivery. Top-notch course which helped me to consolidate my knowledge. Mikhail Ruderman, Ageas Course Content Analytic Overview Provides a four-step approach to the credit analysis of insurance and reinsurance companies and an overview of how insurance companies are assessed by different market observers. Operating Environment Reviews the key macro-economic and sector trends which may impact adversely or favorably on certain insurers and business lines. Looks at how the life, non-life and reinsurance sectors have previously been affected by stressed operating conditions. Financial Fundamentals Analyzes the financial statements to identify key indicators for assessing financial strength and performance against appropriate benchmarks. Structure Reviews the funding needs of insurance companies, how these might be met and the potential risk mitigants for counterparties. 5

6 Insurance Analysis Courses Solvency II This two-day intermediate workshop delivers an in-depth review of the rationale, application and implications of the EU Solvency II directive. The course focuses on causes of distress, capital adequacy requirements, eligible capital, group supervision and implications for insurers strategies and corporate governance. Key Learning Outcomes Recognize the key vulnerabilities of insurance companies that Solvency II is aiming to address and how this will fit into an early warning system for supervisors Understand the key proposals of the EU Solvency II Directive (capital requirements, supervisory review process and public disclosure) and appreciate how these will be applied Understand how both general and product-specific risks faced by life and non-life insurers and reinsurers will be addressed by Solvency II requirements Anticipate the impact of Solvency II on company strategy and risk management. I thought the training course was excellent. The instructor was very patient and always willing to answer questions. John Gray, RBS Course Content Risk Overview Reviews the challenges Solvency II aims to address: the key areas of risk faced by different types of insurer. Solvency II Overview Explores the key differences between Solvency II and existing regulatory regimes, the basic framework of Solvency II and the way in which capital and liabilities will be defined. Solvency II Risk Modules Relates the key risks faced by insurers to the risk charges as calculated under the proposed Solvency II standardized approach. Corporate Governance Explains how the key elements of Pillars 2 and 3 of Solvency II are intended to improve both corporate governance and internal risk management in insurance companies and groups. Implications of Solvency II Explores the impact of Solvency II on insurance company strategy: capital, enterprise-wide risk management, risk mitigation, product design and investment strategy. 6

7 Early Warning Signals in Insurance Companies This two-day course for experienced analysts offers a deeper insight into the causes and early warning signals of credit deterioration and failure in both local and international non-life (P&C) and life insurance and reinsurance companies. Key Learning Outcomes Learn to apply a structured analytic approach, incorporating qualitative, quantitative and market indicators, to identify vulnerable exposures Recognize the key vulnerabilities of the different types of company, and different business lines within non-life (P&C) and life insurance and reinsurance sectors Identify key recurring themes relating to insurer distress by reviewing real case studies Learn how to stress test insurance company solvency and earnings for investment or underwriting losses, over-valuation of assets and under-reserving Recognize the key challenges of credit exposures to vulnerable insurance companies and the triggers which might lead to downgrades or refinancing problems. Excellent, eye-opening, insightful and challenging. Colin Savage, Meiji Yasuda Course Content Analytic Overview Identifies key internal and external factors which are common precursors of insurance company distress. Operating Environment Identifies those business lines most vulnerable to key macro-economic and sector trends, and hence which firms are exposed to current and prospective market developments. Management and Shareholders Concentrates on management and strategy and risk management challenges in troubled markets. Business Risk Explores challenged business models and insurance companies with significant exposure to losses from their operations. Financial Risk Discusses the adequacy and quality of capital, liquidity and financial flexibility. 7

8 About Fitch Learning Fitch Learning is a global leader in financial education, with over 25 years experience delivering specialized, technical training to the financial community. With centers in London, New York, Singapore, Dubai and Hong Kong; we are committed to questioning and understanding client needs across the globe and on the ground locally. Our people advise and build learning solutions to accelerate the achievements of the individual, and the company across the entire employee lifecycle. We focus our training on four key areas: Professional Qualifications Regulatory exam training including CFA and CQF Tailored Learning Bespoke programs customized to meet your business needs Learning Solutions Innovative program delivery and management including online learning and interactive portals Public Courses Continuing professional development courses delivered worldwide between 1-4 days focusing on practical skills required to succeed in the industry Registrations Contact Us London: +44 (0) New York: Singapore: Dubai: enquiry@fitchlearning.com For group or company discounts contact: Guy McCulloch +44 (0) guy.mcculloch@fitchlearning.com For in-house course enquiries contact: +44 (0) enquiry@fitchlearning.com