← Return to all programmes
Managing an Underwriting Portfolio
04 December 2019
The programme is recommended to Lloyd’s underwriters with five or more years of experience who would like to become more involved in portfolio management or who are being trained for an underwriting management role.
Participants should have knowledge of:
- how expected claims costs and premiums are calculated
- the difference between key premiums such as: technical price, benchmark price, walk-away price and actuarial price
- the loss ratios associated with each premium
- the difference between all the methods for calculating rate changes on renewal policies
- the difference between rate change and rate adequacy
- the impact of writing new business in the overall rate adequacy and how new business can be included in the overall rate change calculation
Date: 04 December 2019
Programme: One full-day session, 09.30 - 17.00
Location: LMA Presentation Room, Gallery 4, Lloyd’s, London EC3M 7DQ
Fee: £500 + VAT
ABOUT THE PROGRAMME
This course focuses on key aspects of managing a portfolio of insurance policies. Building from the statistical foundation, the course covers key aspects of pricing, reserving, planning and forecasting, as well as capital modelling.
Through a series of realistic examples, attendees will learn about:
- the statistical framework applicable to an insurance portfolio, such as basics of probability models, the expected value of claims and measuring risk and volatility. Furthermore, it will look at diversification and the impact of correlations in the overall risk
- performance metrics at the time of pricing (technical, benchmark, achieved) and relevant loss ratios. The course will look at the rate change on renewal risks. It will also review the impact of new business in the overall rate adequacy and the impact of not writing to business plan
- pricing to reserving. The course will review accounting basics: GAAP vs Lloyd’s accounting for premiums and claims. The day will offer an overview of aspects of claims reserving and standard methods; in addition to that, it will help in understanding data. Attendees will learn about the impact of changes in the portfolio on reserving and development patterns, the impact of changes in claims reserving practices and reserving uncertainty
- reserving and business planning by using historic results to forecast loss ratios for future years
- the Solvency II and capital requirements, including the benefits of diversification, the impact of correlation and of reinsurance.
This programme is run by Dr Ana Mata from MatBlas Ltd.
There are 15 places available on this programme. Spaces will be allocated on a first-come, first-served basis, with one place per managing agent (unless further spaces are available once the deadline has passed).
If you would like to receive full information of the 2019 programme when it's available, please register your interest online.
This programme qualifies for 7 CPD hours.