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Reacfin Luxembourg s.a. Avenue Pasteur 6 L-2310 Luxembourg
TVA: LU25524077 – BIC : BGLLLULL RPM Luxembourg
Tel: +32 (0)10 68 86 07 - [email protected] - www.reacfin.com
Measuring and managing the performance of an insurance company
Reacfin Workshop
6th & 7th May 2020 - Luxembourg
2 | P a g e
Reacfin Luxembourg s.a. Avenue Pasteur 6 L-2310 Luxembourg
TVA: LU25524077 – BIC : BGLLLULL RPM Luxembourg
Tel: +32 (0)10 68 86 07 - [email protected] - www.reacfin.com
About the Workshop
Due to the inversion of the production cycle, the insurance business is very different from other traditional industries. Understanding, measuring and managing the performance of insurance companies is complicated by the specific risks insurance companies must cover. It is therefore essential that you, as employee of an insurance, understand how your company is functioning, how its activity is measured via the balance sheet and the P&L, what are the main regulations influencing this measure, which indicators are used to assess the performance and how to manage and improve this performance.
The aim of this workshop is to - Present the functioning of an
insurance company and the insurance and financial products it manages
- Explain how to read and understand the different elements of an insurance balance sheet and P&L
- Compute performance indicators used in different regulatory frameworks
- Understand the impact of pricing & portfolio management, risk mitigation (reinsurance) and ALM on the performance
To deepen your understanding of the concepts, we will also provide you with a free of charge access to our online training path (around 15 modules of 30 minutes) after the training.
3 | P a g e
Reacfin Luxembourg s.a. Avenue Pasteur 6 L-2310 Luxembourg
TVA: LU25524077 – BIC : BGLLLULL RPM Luxembourg
Tel: +32 (0)10 68 86 07 - [email protected] - www.reacfin.com
Day 1 – Measuring the performance of an insurance company – 6th May
About the agenda
Day 2 – Managing the performance of an insurance company– 7th May
9h-10h30 Functioning of an insurance company
Introduction to insurance products
Introduction to financial products
10h45-12h30 Basics of life and non-life insurance
pricing (pure premium, interest rate, mortality, loadings)
Premium and premium provision
13h30-15h30 Claims and claims provisions
Measuring the Performance of an insurance: the P&L and the local GAAP balance sheet
15h45-17h30 Main performance indicators in life and
non-life insurance
Case Study: Computing performance indicators
9h-10h30 Measuring the Solvency of an insurance
company thanks to Solvency 2
Measuring the Value of an insurance company based on IFRS17
10h45-12h30 Case Study: Computing solvency and
value indicators
Pricing and portfolio management (product mix, improving underwriting, impact on performance)
13h30-15h30 Risk mitigation and reinsurance (goals,
main contract, impact on performance)
Introduction to asset & liability management (ALM) and impact on performance
15h45-17h30 Case Study: Comparing performance of
several insurance companies
4 | P a g e
Reacfin Luxembourg s.a. Avenue Pasteur 6 L-2310 Luxembourg
TVA: LU25524077 – BIC : BGLLLULL RPM Luxembourg
Tel: +32 (0)10 68 86 07 - [email protected] - www.reacfin.com
Reacfin Academy is the business line of Reacfin dedicated to continuous professional education and training in Finance, Risk Management, Portfolio Management, Actuarial Science and Data Science.
www.reacfinacademy.com
Pierre DEVOLDER Chairman of Reacfin, professor at the University of Louvain (UCL) and academic member IA|BE
Expert in Pension, Life Insurance, ALM and Stochastic Finance. Ex-Board Member at Axa Belgium with 35+ years of experience in insurance.
Xavier MARECHAL CEO Reacfin and IA|BE qualified actuary
Expert in Non-Life and Health insurance (pricing, product development, reserving and risk management).
Aurélie MILLER Head of Reacfin's Life, Health and Pension Center of Excellence, director at Reacfin and IA|BE qualified actuary
Expert in Life and Health insurance (pricing, product development, reserving and risk management), Solvency 2 and IFRS 17.
Samuel MAHY Head of Reacfin’s Non-Life Center of Excellence, director at Reacfin and IA|BE qualified actuary Expert in Non-Life and Health insurance (pricing, product development, reserving and risk management), reinsurance and Solvency 2.
About the speakers
About the Reacfin Academy
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Reacfin Luxembourg s.a. Avenue Pasteur 6 L-2310 Luxembourg
TVA: LU25524077 – BIC : BGLLLULL RPM Luxembourg
Tel: +32 (0)10 68 86 07 - [email protected] - www.reacfin.com
Pricing
Participation is flexible: you can sign up for Day 1, Day 2 or all days according to your needs and availability. Early bird prices are open until March 15th. Day 1 Day 2 2-day package
Early price/person €700 excl. VAT €700 excl. VAT €1200 excl. VAT
Price/person €850 excl. VAT €850 excl. VAT €1500 excl. VAT Cancellation is possible up to 15 days before the training. After this deadline a cancellation fee
of 50% will be applied. Switching participant is possible at any time. Reacfin has the possibility to cancel the training if the number of participants is too low.
Place & accommodation
Event will take place in Novotel Luxembourg Kirchberg, 6 Rue du Fort Niedergrünewald, L-2226 Luxembourg.
Required material
Attendees are encouraged to bring a laptop computer with Excel installed.
Language
Presentation will be performed in French, but the training material will be provided in English.
Contact To subscribe go to:
https://reacfinacademy.typeform.com/to/NgY4vu For any questions, feel free to contact us :
Practical information
