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Insurance
Some of the suggested courses are set out below. If there is any particular area of interest that is not covered please contact us.
An insurance lawyers guide to reading a general insurer's financial statements

Objectives

The aim for this training is to increase lawyers’ confidence in understanding a general insurance company’s financial statements.

As a result of this session participants will be able to:

  • Understand the financial jargon used in, and components of, General Insurance accounts
  • Understand the key insurance specific accounting issues
  • Communicate more effectively with clients in the insurance sector and their professional advisors
  • Understand the basic ratios used to assess an insurance company’s performance and financial position

Content

  • An overview of a general insurer's financial statements and explanation of the key aspects
    • Brief overview of the general insurance business model which drives the items expected to be reported in the accounts
    • Explanation of the different, insurance-specific, line items arising, for example:
    • Accounting for premiums: gross/net, written/earned
      • Accounting for non-life claims: incurred/paid, incurred but not reported
      • Technical reserves, for example, for losses, unearned premiums etc.
      • Commission costs and deferred acquisition expenses
      • Reinsurance issues
  • Key financial ratios for Insurance companies (case study activities), and how they are calculated for example:
    • Underwriting risk: claims and loss ratios, reserve adequacy
    • Overall profitability

 

Course Types

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Face to Face courseFace to Face
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