Insurance Accounting for Underwriters Online Course

  • Time

    10:00am - 3:00pm

  • End Date

    28 Feb, 2022 - 02 Mar, 2022

  • Price

    ₦175,000

Event Details

This course has been developed for insurance underwriters who need a better understanding of the financial reporting of their business activities. Basic accounting principles are covered initially followed by the accounting for insurance activities.
 

CONTENT

The training day will include a mix of instructor presentation, group discussion and interactive exercises to reinforce the key learning points:

Basic Accounting Principles and Financial Statement Mechanics

  • Cash flow statement
  • Income statement
  • Statement of financial position (balance sheet)
  • Terminology
  • Links and integration of the statements
  • Accruals concept
  • Simple statement construction exercise

 

Insurance Accounting; Accounting for Underwriting Business

  • Terminology (GAAP vs Lloyd’s)
  • Written premium
  • Reinsurance premium
  • Earned premium
  • Written vs earned (reconciliation)
  • Practical earnings exercise
  • Losses/claims
  • Practical issues

 

Investments and Other Topics

  • Balance sheet investments
  • Accounting for investment returns
  • Investment strategy
  • Other income statement expenses

 

Financial Assessment; KPIS and Industry Benchmarking

  • Loss ratio, expense ratio, combined ratio
  • Investment return
  • Return on equity
  • Other key ratios, calculation and interpretation

 

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: 28th Feb – 2nd Mar, 2022                                    

2ND BATCH: 4th – 6th July, 2022               

3RD BATCH: 31st Oct – 2nd Nov, 2022     

Other Dates

Start Date End Date
04 Jul, 2022 06 Jul, 2022
Start Date End Date
31 Oct, 2022 02 Nov, 2022
Start Date End Date
28 Feb, 2022 02 Mar, 2022

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