Foundation in Reinsurance

10th – 11th July, 2017
Nairobi, Kenya

OverviewOutlineCourse LeaderRegisterFee & VenueContact

About the Course

Foundation in Reinsurance is designed to provide a broad understanding of the reinsurance industry – its drivers, main methods and types of reinsurance available in the international insurance market, recent developments in Reinsurance industry, together with detailed examination of the key elements involved in the buying and selling of reinsurance.

 

KEEPING UP WITH THE INDUSTRY’S VIEWS

African Reinsurance Industry – Gaining Momentum At Swift Pace

Posted on: 24 January 2017

The International Monetary Fund has suggested that the African Continent will be the fastest growing economy in the upcoming years. The African countries are more focused on sustainability. The African (Re)insurance industry is no exception to this. To achieve substantial growth, it is mandatory for the African Insurance Regulators to keep pace with the international standards.

Current statistics shows that the African Reinsurance industry is moving in the forward direction with a swift pace. For the past few years, the African Reinsurance market has attracted global attention because of its steady economic performance. In order to give a boom to the (Re)insurance sector, the regulatory authorities in Africa are pushing hard to bring the reforms and is responding well to dynamics of the global market.

For stability and growth, the regulatory authorities are also striving hard. De-regularization in Insurance Sector in Africa is being enforced by the authorities to give a positive push to this industry. They are introducing new norms for the (re)insurance in order to restore confidence.

 

Introduction

  • Identify the purpose and drivers of reinsurance
  • Basic concepts – sharing/mitigation/laying-off/risk
  • Basic Reinsurance Terms
  • Purpose of reinsurance – Limiting Liability, Stability, Protection Against Insolvency, Capacity
  • Types of reinsurance
  • Reasons for buying reinsurance – Why Insurers buy
  • Markets – Product split (geographical and product)
  • Regulation and Solvency

Different types of Reinsurance and their characteristics

  • Facultative – Declarations page, boilerplate terms
  • Treaty
  • Combinations

How the different types of facultative and treaty reinsurance work
Forms of Reinsurance and examples of these types of agreements:

– Pro Rata
  • Quota Share
  • Surplus Share
– Excess of Loss Reinsurance
  • Per-Risk Excess of Loss
  • Per-Occurrence Excess of Loss
– Additional Specific Reinsurance
  • Catastrophe Reinsurance
  • Finite Reinsurance
  • Stop Loss Reinsurance
  • Aggregate Excess of Loss
  • Hybrids (Contributing excess)

Participants of Reinsurance industry

– Retrocessionaires, Cedent, Insurance Companies
– Broker and Reinsurance brokerage
  • Duties and liabilities of reinsurance broker
  • Market Practice and Regulation
– Underwriter
  • Task and challenges
– Role of Underwriter
  • Underwriting guidelines for Developing an Inward Book of Reinsurance Business

Classes of Reinsurance, Market Practices & Claim Management

– Marine
  • Forms of marine reinsurance
  • Use of quota share, surplus, reporting excess of loss, aggregate excess of loss, working excess of loss, catastrophe excess of loss, stop loss and back-up contracts. Limited conditions reinsurance.
  • Reinsurance of marine liabilities and war risks
  • Treaty exclusions
  • Use of risk excess of loss, including catastrophe excess of loss
– Casualty
  • Forms of reinsurance including third party liability, employers’ liability, motor, personal accident, credit, bonding and miscellaneous risks
  • Advantages and disadvantages of combining several classes of casualty business in one treaty
  • Definition of the loss event
  • Inflation in relation to casualty reinsurance
  • Key clauses
  • Specific problems in underwriting long tail
  • Use of risk excess of loss, including catastrophe excess of loss
– Property & Construction
  • Use of risk excess of loss, including catastrophe excess of loss
  • Underwriting characteristics of property excess of loss
  • Advantages and disadvantages of property excess of loss
  • Use of facultative excess of loss
  • Use of risk excess of loss, including catastrophe excess of loss including use of hours clause and calculating the cost of reinstatement.

Reinsurance Risk Management – How Reinsurance can serve as Balance Sheet Protection and may stabilise Net Earnings

  • Which items need to be protected
  • Reinsurance as capital
  • Reinsurance to smooth net earnings
  • Rules of thumbs/ Key metrics
  • Influence of regulators and rating agencies

Pricing Reinsurance

  • Explain the main pricing methods
  • Concepts and statistics
  • Frequency and Severity of claims
  • This presentation will focus on pricing a non-proportional reinsurance treaty

Pricing Reinsurance

  • Can reinsurance really add value?
  • How to determine own retention and reinsurance limits
  • Risk versus return
  • Example

 

KEEPING UP WITH THE INDUSTRY’S VIEWS

African Reinsurance Industry – Gaining Momentum At Swift Pace

Posted on: 24 January 2017

The International Monetary Fund has suggested that the African Continent will be the fastest growing economy in the upcoming years. The African countries are more focused on sustainability. The African (Re)insurance industry is no exception to this. To achieve substantial growth, it is mandatory for the African Insurance Regulators to keep pace with the international standards.

Current statistics shows that the African Reinsurance industry is moving in the forward direction with a swift pace. For the past few years, the African Reinsurance market has attracted global attention because of its steady economic performance. In order to give a boom to the (Re)insurance sector, the regulatory authorities in Africa are pushing hard to bring the reforms and is responding well to dynamics of the global market.

For stability and growth, the regulatory authorities are also striving hard. De-regularization in Insurance Sector in Africa is being enforced by the authorities to give a positive push to this industry. They are introducing new norms for the (re)insurance in order to restore confidence.

  Course Leader

He is a thorough reinsurance professional, experienced in working with various reinsurance markets including Lloyds, Europe, USA, Asia and Africa. He is MBA in Insurance & Finance and a Fellow of Insurance Institute of India. At present, he is working as Chief Underwriting Officer of GIC Re South Africa Ltd which is a wholly owned subsidiary of GIC Re, India. He has been largely responsible for setting up Underwriting, Claims and Risk Management Function at GIC Re South Africa Ltd which started its operations in late 2014.

He is also heavily involved in setting up systems for SAM (Solvency Assessment & Management) Compliance in South Africa.

Achievements

His achievements include setting up of Reinsurance (Underwriting/Claims), Risk Management and SAM compliance function of GIC Re South Africa Ltd within a short span of 8-9 months. In GIC Re, Mumbai he was largely responsible for rationalization, revitalization and portfolio optimization of inward retrocession treaty business in the aftermath of CAT Events of 2011. This exercise resulted in a balanced and diversified portfolio which enabled GIC Re to recover all losses within 2-3 years. He was also the key underwriting analyst in GIC’s Strategic Investment in Lloyd’s Capital Quota Share wherein ROE exceeded 10%. This also resulted in setting up GIC Re as a Corporate Member of Lloyds of London.

His core competencies include underwriting, claims, risk management and SAM framework.

 

KEEPING UP WITH THE INDUSTRY’S VIEWS

African Reinsurance Industry – Gaining Momentum At Swift Pace

Posted on: 24 January 2017

The International Monetary Fund has suggested that the African Continent will be the fastest growing economy in the upcoming years. The African countries are more focused on sustainability. The African (Re)insurance industry is no exception to this. To achieve substantial growth, it is mandatory for the African Insurance Regulators to keep pace with the international standards.

Current statistics shows that the African Reinsurance industry is moving in the forward direction with a swift pace. For the past few years, the African Reinsurance market has attracted global attention because of its steady economic performance. In order to give a boom to the (Re)insurance sector, the regulatory authorities in Africa are pushing hard to bring the reforms and is responding well to dynamics of the global market.

For stability and growth, the regulatory authorities are also striving hard. De-regularization in Insurance Sector in Africa is being enforced by the authorities to give a positive push to this industry. They are introducing new norms for the (re)insurance in order to restore confidence.


Click to Register

Register 3 Send 4th One Free

Register 3 Send 4th One Free Any organization wishing to send multiple attendees to this course may send 1 FREE for every 3 delegates registered. Please note that all the 3 participants must register at the same time to avail this benefit.

Registration Fee

Register Only: $1099

Register 3 Send 4th One Free Any organization wishing to send multiple attendees to this course may send 1 FREE for every 3 delegates registered. Please note that all the 3 participants must register at the same time to avail this benefit.

Note: All payments are made in USD.
Registration fee only covers cost of all sessions, luncheon, coffee/tea & presentations. Fee does NOT include any travel or accommodation expenses. Fee is not inclusive of 5% Admin/Bank Charges.

Venue

Fairmont Hotels and Resorts Kenya
Address: Harry Thuku Road, P.O. Box 58581-00200 Nairobi, Kenya
Phone: +254 20 2265555
Website: Fairmont The Norfolk Hotel

Name (required)

Email (required)

Phone Number(with country code): (required)
-

Select Event (required)

Subject

Your Message

 

Our Clients