Insurance and Risk Management Workshop

OBJECTIVE
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

METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 22nd – 25th Apr,2025
2ND BATCH: 26th – 29th Aug,2025
3RD BATCH: 9th – 12th Dec,2025