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Fundamentals of P&C Reinsurance

The international business of reinsurance is evolving. Traditionally, reinsurance transactions were between two insurance entities: the primary insurer that sold the original insurance policies and the reinsurer. Most still are.

Increasingly, though, new products are reflecting a blending of reinsurance and investment banking, making an understanding of reinsurance ever more important to the audience beyond a reinsurer's walls.

Fundamentals of P&C Reinsurance provides a complete foundation on the mechanics of the property and casualty reinsurance business, including the structures and types of contracts, their uses as a risk and financial management tool, and their impact upon insurance organizations.

Whether you're an analyst or investment banker covering the insurance industry or an industry professional concerned with understanding the reinsurance business, you'll find Fundamentals of P&C Reinsurance to be the most complete, yet compact guide to the reinsurance industry available.

Program objectives:
To impart a thorough grasp of reinsurance through an examination of:

  • Industry products
  • How and to what purpose the various products are used
  • The risk factors associated with reinsurance for users and providers

Attendees will leave the program with:

  • An understanding of the purpose, multiple uses and impact of reinsurance contracts
  • The ability to dissect the structure of a company's reinsurance program
  • Insight into the credit implications of the reinsurance relationship
  • Knowledge of the capital requirements of primary insurers vs. reinsurers
  • An understanding of the regulatory and accounting environment of the international reinsurance business

Prerequisites:

This program presumes a foundational understanding of the insurance industry and familiarity with basic accounting and finance concepts.

Need help justifying this program to your supervisor? Visit the Downloads & FAQs section to download a justification letter, fill in a couple blanks, and quickly show him/her the importance and value of your attendance. 

Instructor

Kevin Oates

Independent Consultant and Instructor

Kevin has spent his entire career in the insurance industry and since 1996 has worked as an independent consultant and instructor conducting in-house and open enrollment training for Wall Street and industry firms.

He has held positions as a SVP of an international insurance/reinsurance consulting firm, executive financial positions with holding companies and underwriting organizations, and as vice-president of reinsurance operations with a reinsurance intermediary.

His teaching experience includes being an adjunct instructor of accounting at Queens College, Rutgers University, and an instructor in P&C insurance accounting and annual statement preparation at the New York College of Insurance.

Kevin has an MBA in Corporate Finance from Rutgers University. He is a Fellow of the Life Management Institute (FLMI), and holds the Associate in Reinsurance (ARE), and Associate in Insurance Accounting and Finance (AIAF) designation from the Insurance Institute of America.

He is the author of the Reinsurance Accounting Chapter of the Strain Reinsurance Textbook and a contributing author to the NAIC Receiver's Handbook.

Fundamentals of P&C Reinsurance Agenda

TIME
WEDNESDAY, May 3rd
Agenda is tentative. Please check back for updates.:
08:00 am
Registration and Continental Breakfast Open:
08:30 am
Introduction and Overview (Part 1):
  • • Concepts of Reinsurance
  • • The Reinsurance Relationship
  • • Main Functions
  • • Regulation and Accounting
10:15 am
Break:
10:30 am
Introduction and Overview (Part 2):
  • • Elements of Reinsurance
  • • Methods of Cession
  • • Facultative Reinsurance
12:00 pm
Lunch:
1:00 pm
Anatomy of a Treaty Reinsurance Contract:
  • • Objectives
  • • General Rules
  • • Definitions and characteristics
2:30 pm
Break:
02:45 pm
Proportional Treaty Reinsurance:
  • • General rules
  • • Key terminology
  • • Reinsurance finance
04:30 pm
Day One Concludes:
TIME
THURSDAY, May 4th
08:00 am
Continental Breakfast Opens:
08:30 am
Fixed Split Proportional Reinsurance:
  • • Typical Quota Share
  • • Basic Functions
09:30 am
Variable Split Proportional Reinsurance:
  • • Surplus Share
10:15 am
Break:
10:30 am
Non-proportional Reinsurance: Excess per Risk:
  • • Introduction to XOL
  • • Primary Purposes
  • • Excess vs. Proportional
  • • ECO and XPL
12:00 pm
Lunch:
1:00 pm
Non-proportional Reinsurance: Excess per Occurrence:
  • • Excess of Loss per Occurrence
  • • Cat Covers
  • • Reinstatement Premium Example
2:30 pm
Break:
2:45 pm
Alternative Risk:
  • • Techniques
  • • Parallel syndicates
  • • Sidecars
  • • Captives
4:30 pm
Program Concludes:
More

Ticket Info

Early Bird Rate: $1,795

Early bird cut-off date: 17th March.

Regular Rate: $1,995

Register

Event location

University of Chicago Gleacher Center
450 N Cityfront Plaza Dr.
Chicago, IL
+1 (312) 464-8787


Your registration includes all program work materials, plus continental breakfast and lunch both days.

Group pricing discounts and in-house training options are also available. Contact us at +1 (888) 991-7786.


Take one or both of our preview courses - P&C Reinsurance 101 and P&C Reinsurance Accounting and save $300 on registration. Call (888) 991-7786 for details.

Downloads & FAQs

Insurance Sector Training Course Catalog

Manager Justification Letter

Who attends?

  • Credit, fixed income and risk analysts
  • Buy and sell-side sector analysts
  • Investment banking analysts and associates
  • Non-underwriting personnel within the insurance industry

What is the dress code?
Business casual. 

Do I need a laptop?
No. 

When does the program start? When does it end?
Registration opens at 7:30 a.m. on Day One. The program begins at 8:30 a.m. and ends at approximately 4:30 p.m. on both days. 

What is your cancellation policy?
Cancellations for this program are eligible for a full refund, less a $150.00 administrative fee, if received at least 15 business days prior to the start of the program. Cancellations received after that date but at least 5 business days prior to the start of the program receive a credit in the amount of the registration fee, less a $150.00 administrative fee, to attend another Knowledge Center program within 13 months. Cancellations received fewer than 5 business days prior to the start of the program are not eligible for a refund or credit. 

Attendee substitutions from the same company may be made at any time.

In the event of a cancellation from a group discount, refunds or credits are issued beginning with the most heavily discounted price, minus a $150.00 administration fee.

"No shows" - or those who cancel within 15 days of the program - and have registered under the Invoice option, remain liable for the full program fee.

The Knowledge Center reserves the right to cancel/change programs, content, speakers or venue at any time. The Knowledge Center reserves the right to make portions of the program registration information available to program sponsors. The Knowledge Center will not be held liable for any costs incurred by registrant due to individual registration cancellation. In the event that a seminar is cancelled due to inclement weather, faculty cancellation or force majeure, the Knowledge Center will refund the registrant's tuition in full, however the Knowledge Center will not be liable for incidental or consequential out of pocket expenses incurred by the registrant. If you have questions regarding the Knowledge Center's refund, complaint or program cancellation policy, please call us at (434) 951-7786.

Registrant, as an individual person attending a Knowledge Center conference, seminar, or other program, hereby grants permission to the Knowledge Center to use and publish his or her image, likeness, or testimonials collected in connection with the program for advertising and trade purposes in connection with the Knowledge Center’s conferences, instructional, and/or marketing activities.

Continuing Education Credits

13 Hours of Continuing Education Credit
The Knowledge Center is registered with CFA Institute as an Approved Provider of professional development programs. This program is eligible for 13 CE credit hours as granted by CFA Institute. If you are a CFA Institute member, CE credit for your attendance at this event will be automatically recorded in your CE Diary upon request.
15.5 Hours of CPE Credit
Participants who complete this program qualify for 15.5 hours of CPE credit (Specialized Knowledge and Applications). Program Level: Intermediate. Delivery Method: Group-Live. The Knowledge Center is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 4th Ave N, Ste 700, Nashville, TN, 37219-2417. Website: www.nasba.org.