Understanding Insurance Company/Syndicate Accounts
02 April 2019
This course is particularly beneficial to those who wish to understand the part they play in their own insurance business’s financial performance and for reinsurers to assess the financial health of their clients, comparing the relative financial performance of players in the corporate and syndicate sectors.
Date: 02 April 2019
Programme: One full-day session, 09.30 - 17.00
Location: LMA Presentation Room, Gallery 4, Lloyd’s, London EC3M 7DQ
Fee: £350 + VAT
ABOUT THE PROGRAMME
This one-day course looks at the financial statements of insurance companies and syndicates to show how financial performance is measured and assessed.
Attendees will learn about:
• insurance companies’ accounts and the nature of insurance business
• what is different about insurance companies, and what does this mean?
• how the financial reporting problems are ‘solved’, looking at technical (underwriting) and non-technical (non-insurance items: investment return, interest and tax)
• underwriting and profit & loss accounting
• premiums written and their effect on financial reporting
• unearned premium reserves movements
• the three types of claims and their effect on financial reporting
• commissions and deferred acquisition costs and their effect on financial reporting
• balance sheet accounting
• insurance terminology and measurements - triangulations, traditional insurance business ratios - how they are calculated and what they mean
• insurance returns.
This programme is run by Stephen Brookson, Stephen Brookson Limited.
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).
This programme qualifies for 7 CPD hours.