Understanding General Insurance Finance Virtual Course

  • Time

    10:00am - 3:00pm

  • End Date

    23 May, 2022 - 25 May, 2022

  • Price

    ₦175,000

Event Details

This highly interactive training course provides a basic understanding of insurance finance which will help you interpret clients' accounts, appreciate the financial pressures within the insurance business model and improve your ability to identify and manage risks and opportunities.

 

CONTENT

Finance Fundamentals

  •     Commercial cash flow and profit
  •     Capital, assets and liabilities
  •     Financial principles, conventions and rules
  •     Financial statements

 

Insurance Fundamentals

  •     The five distinguishing characteristics
  •     Insurance cash flow and the main dependencies
  •     Funded vs accrual accountings

 

The mechanics of premium

  • Calculating written/earned and gross/net premium
  • Unearned premium provisions
  • Direct costs, management expenses and acquisitions costs

 

Claims the direct costs

  • Claims notified: paid and outstanding
  • Technical/case reserving
  • Ultimate claims cost and incurred but not reported

 

Investment

  • Purpose and type of investment
  • Risk and return - asset and liability matching

 

Financial reporting

  •     Building the technical account/profit & loss and the balance sheet
  •     Interpreting the key performance ratios
  •     Underwriting profit or return on capital?

 

Solvency II

  •     Risk based capital adequacy
  •     The balance sheet: where are the inherent risks?

 

FOR WHOM:

Insurance Officers, Compliance Officers, Marketing Managers, HR personal.

 

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

 

DATE:

1ST BATCH: 17th – 19th Jan, 2022                                            

2ND BATCH: 23rd – 25th May, 2022         

3RD BATCH: 19th – 21st Sept, 2022

Other Dates

Start Date End Date
19 Sep, 2022 21 Sep, 2022
Start Date End Date
23 May, 2022 25 May, 2022

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