Our seminars are designed to provide the qualitative and quantitative tools needed to undertake an analysis of the insurance industry.	Property/Casualty Insurance Education Series All Programs are held in Atlantic City, NJ Cash Flow Analysis and Forecasting (A Two Day Program) Description: Cash is the lifeblood of any operation and is particularly pertinent to the operation of an entity whose essential business is the promise of future payouts. This program focuses on the cash flows in a property/casualty company through the application of analytical techniques to current activity, and the creation of models to predict future adequacy. Actual companies are examined in order to impart a sense of reality, along with practical exercises to reinforce learning points. Course Objectives: Understand the make-up of cash flows Analyze the adequacy of current activity in a Property/Casualty company Learn to project and analyze future cash flows Relate cash flows to reserve levels, debt service and dividend rules Course Agenda: Understanding Cash Flow Determining Future Requirements Evaluating Current Adequacy Projecting Cash Flows Operational Financial Analysis (A Three Day Program) Description Acquire the skills needed to perform an analysis of the financial strength of a property/casualty insurance company. 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 solvency of a Property/Casualty insurance Company. Participants receive loss reserve analysis software. Course Objectives: Review the current status of the Property/Casualty Industry; with emphasis on regulation, products, trends, profitability, and results Review the principles and impact of statutory analysis, including risk based capital and IRIS ratios Review and apply the basic concepts of fundamental analysis that are required to interpret a company's asset/liability management, capital measurement, profitability & solvency, leverage & liquidity, and cost of capital Complete real world case studies which provide practical experience in analyzing the financial results of a Property/Casualty insurance company Course Agenda: Introduction Historical Database Creation Regulatory reviews Fundamental Financial Analysis Methods for Adjusting Surplus/Economic Value Red Flag Ratio Summary Fundamental Analysis Summary Report Property/Casualty: Accounting and Analysis (A Four-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, cost and capital. Develop a basic understanding of the Property / Casualty Industry: organization, products, financial performance and trends. Special emphasis is placed on Loss Reserve Analysis including adequacy concepts Course Agenda: Introduction Concept of Risk and Insurance P/C 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 F - Reinsurance Support exhibits Cash flow statement *Includes accounting for Premium, losses, and expenses, Investment Income. Historical Results, Trends How P/C Companies make money Economics of a P/C Policy Accident year illustration Profitability analysis Combined ratio Operating ratio Modifications Leverage, Liquidity, Analysis Cash Flow concepts Loss Reserve Analysis Calendar year and accident year analysis Adequacy analysis Projection method Valuation Concepts Adjustment to surplus Return analysis Insurance return Discounted accident year models Risk based capital reporting Property/Casualty: Advanced Analysis (A Two-Day Program) Description Analysis of the current financial position of a P/C insurer leads to the inevitable question of future performance. This program is designed to take each prior learned skill and use it to forecast future results for a given company. The exercise requires addressing questions of pricing, reserve adequacy, policyholder and stockholder dividends, profitability and return. Participants are required to bring laptops and will receive modeling software. Illustration discussion and interaction enhance this experience. Course Objectives: Learn the actual impact of current financial circumstances upon future results. Gain actual experience in resolving reserve problems, investment risk and capital management. Select from multiple options to create an optimal return scenario. Course Agenda: The model: How it works Initializing the database Reconciliation to actual forecast - Part one Reconciliation and discussion Forecast - Part two Statutory Accounting and Financial Reporting (A Three Day Program) Description: Learn how to read, understand, and apply data contained in the financial reports of Property/Casualty 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 presented. Course Objectives: Develop a basic understanding of the Property/Casualty Industry: organization, products, financial performance Explain rationale and differences between statutory and GAAP accounting for a P/C company Review and discuss each of the various financial reports produced by Property/Casualty companies Review, in detail, the annual statement; including the financial statements, supporting schedules and exhibits, and supplementary data Define and illustrate each major element of insurance accounting and reporting Illustrate loss reserve concepts and terminology Course Agenda: Introduction to Property/Casualty Accounting Statutory Filings and Related Documents Annual Statement Reporting Presentation and Illustration of Financial Statements and Supporting Schedules Schedule F: Reinsurance Schedule P: Loss Reserve Development Risk Based Capital Calculations Quarterly Filings << Back to Program Information
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