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Course Overview:
Program Aim
Analyzing insurance companies is very different from analyzing corporates and thus presents unique challenges and industry specific issues. In this programme, learn the financial analytical techniques to assess financial strength and operating performance of property & casualty and life & health insurance companies domiciled in Nigeria.
Learning Objectives
Students will be able to:
- Describe major industry trends and challenges
- Differentiate between admitted and non-admitted assets
- Identify major SAP to GAAP reconciling items
- Explain how an insurer values and accounts for acquisition costs
- Describe how an insurance company calculates it's reserves
- Differentiate between loss reserves, policy reserves, LAE, UPR and IBNR
- Identify the key elements of risk transfer in a reinsurance agreement
- Compute various ratios to assess an insurer's operating results
- Explain the methodologies used by rating agencies
- Identify warning signs of an insurer experiencing financial distress
- Forecast the combined ratio required to achieve a desired ROE target
- Predict how changes in key variables will affect an insurer's financial results
- Describe the likely impact of international accounting (IFRS) on the insurance industry
- Refresh your knowledge of key insurance terms and concepts
Course Content
- Introduction
- Industry overview and analysis
- Recent scandals and shenanigans
- Emerging issues and challenges
- Statutory Accounting Principles (SAP)
- Generally Accepted Accounting Principles (GAAP)
- Statutory vs. GAAP Comparisons
- Asset Valuation
- Operations Analysis
- Reinsurace Transactions
- Financial & Rating Agency Measures
- Capital Adequacy Analysis
- Financial Forecasting
- Liability Valuation
- Case Problem for Analysis & Discussion
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