Fundamentals of Insurance Financial Statements

Insurance market overview: this section focuses on the characteristics of the main various lines of insurance business, and their inherent risks; i.e. types of insurance company, key activities and products Statement Logic: this section explains the key financial items in insurance company financial statements and how the business model is reflected in the balance sheet. Accounting and Disclosures: this section explains the key areas of divergence between insurance accounting standards: international differences; the differences between the approaches for shareholder (statutory) accounts and for supervision (regulatory reporting); embedded value reporting for life insurance; and accounting for Lloyd’s syndicates. Ratio analysis: this section provides an introduction to the basic analysis of insurance companies using some key ratios from the financial statements.