Register early to receive a discount. See our tuition policy for 2005.	Life Insurance Industry Education Series All Programs are held in Atlantic City, NJ Life: Accounting and Analysis (A Five-Day Program) Description This is an intense fast-track course designed for participants who need to read, understand, and analyze insurance industry financial reports. A comprehensive stand-alone approach takes students from basics to high level analysis. Pre-reading and study assignments given for each evening supplement lecture, exercises and case studies. Course Objectives: Impart on understanding of the financial dynamics of the Property / Casualty insurance industry Cover in detail the content of all required financial reports including financial statements, supporting schedules and exhibits, and supplementary filings Review and apply the concepts of fundamental analysis that are required to interpret a company's asset/liability management, capital measurement, profitability & solvency, leverage & liquidity, and cost & capital Develop a basic understanding of the Property / Casualty Industry: organization, products, financial performance and trends Emphasis is placed on Risk Based Capital requirements and Asset/Liability matching concepts Course Agenda: Introduction Concept of Risk and Insurance Life products GAAP vs. SAP insurance regulation Concepts Illustrations Key differences Financial Reporting Filing overview Audited statutory statement Actuarial opinions Management discussion and analysis Annual statement of insurance companies *Structural and accounting review Balance sheet Income statement Analysis of operations Schedule D - Investments Schedule S - Reinsurance Support exhibits Cash flow statement *Includes accounting for Premium, losses, and expenses, Investment Income. Regulatory Process Rate tests Other controls Risk based capital reporting Key area review (with case studies) Key Ratio Analysis Profitability Leverage Liquidity Insolvencies Case studies Disintermediation Asset liability / capital management Technique review Red Flags Life in 40 minutes (wrap-up) *Readings and case problems each night Life Reinsurance Description This course provides participants with an understanding of why reinsurance exists, what it entails and how it is used; as well as the capability to analyze types of reinsurance agreements and their impacts on the financial structure and operations of primary insurance companies. Specific case studies and sample problems provide an in-depth learning opportunity. Program Highlights: Explain the use of Reinsurance and the various types of agreements Demonstrate the financial impact of Reinsurance Enable participants to understand Reinsurance company operations Explain and contrast P/C and Life Reinsurance markets and products Statutory Accounting and Financial Reporting (A Three Day Program) Description This course is designed for participants who wish to learn how to read, understand, and apply data contained in the financial reports of life Insurance companies. The program involves both lecture and practical illustrations that provide a detailed examination of the Annual Convention Blank and supplementary filings. Differences between SAP and GAAP accounting, statutory requirements, accounting definitions, insurance regulatory concepts, and practical applications of financial reporting are present. Course Objectives: Develop a basic understanding of Life Insurance: Organization, Distribution, Products, Pricing, Reserving Practices Explain rationale & basic differences between statutory accounting and generally accepted accounting principles Describe and discuss life insurance reinsurance with emphasis on accounting methodology Review the annual statement and supporting schedules, discussing main factors in Financial Reporting Develop and understanding of separate accounts and their use in life insurance operations Course Agenda: Introduction to Life Insurance Accounting Life Insurance Products Review Annual Statement Presentation Reserve Development Life Insurance Reinsurance Separate Accounts Review Operational Financial Analysis (A Three Day Program) Description Learn the basic skills needed to perform analysis on the financial strength of a life insurance company. An industry overview focuses on regulation, products, distribution, corporate structure, and profitability. The seminar uses vertical analysis techniques for assessing Statutory and GAAP financial schedules, horizontal analysis for assessing results over time, and benchmarking to track a company's results against industry and regulatory standards. Real world case studies provide hands-on learning opportunities, application of profitability measurements, solvency requirements, and financial ratio experience in analyzing the financial solvency of a life insurance company. Course Objectives: Review the current state of the life insurance industry, with emphasis on regulation, products, distribution, corporate structure and profitability Review the principals and impact on statutory analysis, including risk based capital and IRIS Ratios Review and apply the basic concepts of life insurance analysis that are required to interpret a company's asset/liability management, capital measurement, profitability and solvency, leverage and liquidity Complete real world case studies, providing practical experience in analyzing the financial results of a life company Course Agenda: Overview of the Life Insurance Industry Life Insurance and Annuity Products Insolvencies/Financial Embarrassments Reinsurance Accounting Refresher Asset/Liability Management Capital Measurement Financial Analysis-Regulatory Profitability Analysis Solvency Analysis << Back to Program Information
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