Produced by the Knowledge Center, expert training from S&P Global Market Intelligence
The need for credible, independent judgment on the solvency and creditworthiness of insurance underwriters has never been greater.
Over the course of two days, Fundamentals of Insurance Company Credit Analysis shows you how to evaluate an insurer's credit risk and financial stability so you can apply that analysis to your fixed income and equity decisions.
Through lectures, classroom exercises, analysis and case studies, you'll learn the time-tested quantitative and qualitative framework you need to examine and assess the relevant risk factors.
- Reviewing the unique dual-accounting environment that insurers operate under and the impact on financial analysis
- Measuring the risks inherent in an insurer's investment portfolio, reserves and affiliate relationships (credit, asset/liability mismatch, liquidity)
- Determining the structure, quality and adequacy of a firm's capital position through ratio analysis, incorporating guarantees, support agreements and reinsurance
- Understanding insurance company cash flows and evaluating the quality of earnings
- Current issues influencing insurance company analysis, including the potential for greater government intervention in light of the current credit environment
Attendees will leave the program with:
- The ability to evaluate key financial results, ratios and trends, and incorporate these into your credit risk analysis
- The skills to analyze the key components of capital - both in the current environment and under stress scenarios
- An understanding of the role and approach of rating agencies and regulators as well as their impact on company performance and risk profile
- Experience assessing the quality of an insurer's asset portfolio, including the composition of policy reserves
- Insight into an institution’s liquidity position and what its sources of funding imply about potential events
- The confidence to develop a structured and comprehensive opinion of an insurance company's key risks
This program presumes familiarity with basic accounting and finance concepts, as well as a working knowledge of insurance company income statements and balance sheets, plus basic-to-intermediate industry experience.