Abstract: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 key due to the
specific risks insurance companies face.
It is therefore essential that people working in the insurance sector understand:
- how insurance companies operate,
- how their activity is measured via the balance sheet and income statement,
- what are the main regulations that affect them,
- what indicators are used to assess their performance,
what levers can be used to improve this performance.
The aim of this workshop is to:
- Understand how to read an insurance balance sheet (with a focus on technical provisions and own funds)
- Be able to read an income statement (P&L) across regulatory frameworks
- Compute relevant Key Performance Indicators (KPIs)
- Understand the impact of risk mitigation (reinsurance) and Assets and Liabilities Management (ALM) on the KPIs