Reinsurance International Study Course

This intensive learning program is led by some of the industry's senior experts and combines hands-on syndicate group work, expert presentations, knowledge sharing and team building activities. Participants can immediately apply their learning to real-life scenarios including designing and testing the optimal reinsurance program. 

What Makes RISC Unique?

• Exclusive learning opportunity: Participants will get access to, and guidance from, senior practitioners who are among the industry’s top reinsurance experts. All have deep technical expertise honed from decades of international and regional industry experience.
• Uniquely structured: Four days of intensive experiential learning that combines hands-on syndicate group work, expert presentations and knowledge sharing.
• Active learning: Participants are grouped into syndicates and immersed in a real-life case study to design and test the optimal reinsurance program. Using physical tools , they will be mentored by a syndicate adviser in a small group to collaborate on the creation of the reinsurance program.
• Assessment benefits: Participants that complete all the assessments can gain credit towards their ANZIIF membership. They also are eligible to claim a digital badge, which can be shared via LinkedIn, email or a variety of other online formats.
• Course inclusions: Accommodation, meals and activities are provided throughout the four days, as well as complimentary return transport from Sydney CBD.

For further information, please contact the ANZIIF Events Team.

LEARNING OUTCOMES:

At the conclusion of RISC, participants should be able to demonstrate proficiency in four key areas:

1. STRATEGIC

• Articulate the importance of reinsurance in relation to a company’s strategy, growth and underwriting philosophy.
• Demonstrate how a company’s reinsurance program interacts with risk appetite and Board expectations.
• Analyse how reinsurance programs interact with portfolio management and underwriting practices also accounting for market dynamics.

2. FINANCIALS

•  Analyse and interpret the impact of current reinsurance on a company’s financial position. Forecast a company’s financial position based on changes to the reinsurance program. 

   

3.TECHNICAL

• Distinguish between the types of reinsurance: facultative (foundational), property quota share, property surplus, property risk excess of loss, property catastrophe, casualty.

• Choose the types of reinsurance applicable to specific portfolios/ classes of business.

• Describe how various reinsurance programs interact.

• Review and understand reinsurance contract wording.

• Demonstrate an understanding of catastrophe modelling.

• Apply the following tools to monitor underwriting performance at portfolio level:     

•        Risk profiles 

•        Large loss reports 

•        Underwriting results 

4. REGULATORY REQUIREMENTS

• Explain the regulatory minimum standard requirements for reinsurance – primarily the Insurance Capital Risk Charge (ICRC) (Australia). Other regimes include RBNZ MSC (New Zealand) and MSR (Pacific Island).

• Describe the purpose and calculation of the Natural Perils Vertical Requirement (NPVR) and Natural Perils Horizontal Requirement (NPHR) in deriving the ICRC and PCA multiple.

• Illustrate the relationship between reinsurance programs and regulatory capital requirements. 

  
  
  

5. STRUCTURING A REINSURANCE PROGRAM

• Implement all learnt concepts into a Board report.

NETWORKING

In addition to learning about reinsurance, participants who attend RISC have the opportunity to build meaningful professional relationships that last well beyond the course.