Produced by the Knowledge Center, expert training from S&P Global Market Intelligence
P&C Statutory Accounting and Reporting provides a comprehensive understanding of the foundations of the financial statements of P&C insurers.
Classroom instruction is designed to enable you to understand the information contained in the financial reports by understanding statutory accounting definitions, the differences between statutory and GAAP accounting, insurance regulatory concepts, and required financial reporting.
You'll come to understand the components of a P&C company’s income statement, balance sheet and cash-flow statement. You’ll discover the industry’s statutory accounting standards, reserving policies and how changes in external variables (such as interest rates and asset prices) can affect a company’s financial statements.
Why two days for an introductory level program?
Because you're looking for more than a gloss of the subject. In one way or another, the knowledge you gain from P&C Statutory Accounting and Reporting will be the basis of your livelihood and a strong foundational understanding will be critical to your future performance. You’ll need this knowledge to succeed whether you’re working within the insurance industry or performing financial, credit or transaction analyses from outside.
Two full days give you the opportunity to explore the subject in the depth it deserves. You'll have time to work with actual financial filings – learning what the line items mean, and discovering the interrelationships between the accounting components, and how the numbers flow into P&C company financial statements.
- Learn and define the terms used in P&C statutory accounting and reporting
- Distinguish the types, risks and financial impact of the prevalent P&C insurance product lines
- Understand the components of an insurance company’s income statement, balance sheet and cash-flow statement
- Recognize the impact of differing accounting standards, reserving policies and changes in external variables (such as interest rates and asset prices) on the financial statements
This program presumes an interest in learning the foundations of the P&C insurance business and accounting.