Introduction to Insurance Company Accounts
Course
In City of London
Description
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Type
Workshop
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Location
City of london
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Class hours
6h
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Duration
1 Day
This one-day course is designed as an introduction to the financial statements of UK general insurers and life assurers under IFRS. It is suitable for those with little or no prior knowledge of the insurance market and will include an introduction to the principles, practices and terminology of insurance. However, participants are assumed to be familiar with basic accounting concepts and ordinary financial statements.
Facilities
Location
Start date
Start date
About this course
Anyone whose role requires them to be able to understand, interpret or assist in the production of insurance company accounts.
Reviews
Subjects
- Management
- Risk Assessment
- Risk
- Accounts
- Risk Management
- Market
- Admninistration
- Financial
- Insurance
- IT risk
- Company Accounts
- Financial Training
- Regulations
Teachers and trainers (1)
Peter Wolf
Teacher
Peter is a trainer and lecturer in finance, banking, capital markets and insurance. He is a Visiting Fellow at the New College of Humanities. Corporate clients for in-house courses include financial regulators, banks, insurers, asset managers, professional firms and IT companies. His courses include graduate induction to the City; financial statement analysis; bank and insurance company financial reporting and regulation; and bank payment systems.
Course programme
General insurance market
- Introduction and background
- Different classes of business
- Sales and distribution; role of the broker
- Lloyds and the London market
- General reinsurance
- Overview of prudential supervision
General insurance financial statements
- Accounting and reporting standards
- Insurance provisions
- Financial statements: case study of a UK listed general insurer
- Key performance measures
Life assurance market
- Life products and terminology
- Participating and non-participating business
- With profits and smoothing
- Profit sharing bases
- Overview of prudential supervision
Life assurance financial statements
- Accounting and reporting standards
- Realistic basis of liability reporting
- Mathematical reserves (provisions)
- Financial statements: case study of a UK listed life assurer
- New business strain
- European Embedded Value accounts
Introduction to Insurance Company Accounts