Life Accounting and Analysis

Produced by the Knowledge Center, expert training from S&P Global Market Intelligence

Life Accounting and Analysis is a three day fast-track course, designed for professionals with some foundational concepts already under their belts. This seminar provides the essential concepts from our two-day Statutory Accounting course and our two-day Financial Analysis course into one, concentrated program. It is ideal for those who need to read, understand, and analyze life insurance industry statutory financial reports. A comprehensive approach will take you from insurance basics to high level financial analysis.

You'll learn the basic skills needed to perform analysis on the financial strength of a life insurance company. The course begins with an industry overview, focusing on regulation, products, distribution, corporate structure, and profitability. The seminar uses vertical analysis techniques for assessing Statutory and GAAP financial schedules, horizontal analysis for assessing results over time, and benchmarking to track a company’s results against industry and regulatory standards. 

Real-life examples and actual company data will provide you with practical learning opportunities regarding the application of profitability measurements, solvency requirements, and financial ratio experience in analyzing the financial strength of a life insurance company.

Course Objectives: 

  • Impart an understanding of the financial dynamics of the Life insurance industry.
  • Develop a basic understanding of the Life Industry: organization, products, financial performance and trends.
  • Cover in detail the content of basic statutory reports including financial statements, supporting schedules and exhibits, and supplementary filings.
  • Review and apply the concepts of fundamental analysis that are required to interpret a company's asset/liability management, capital measurement, profitability, solvency, leverage, liquidity, cost, and capital.


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.

Life Accounting and Analysis Agenda

TUESDAY, May 16th
08:00 am
Registration and Continental Breakfast Opens
08:30 am
  • • Business process
  • • Risks
  • • Products
  • • Annuities
  • • Difference between P&C and Life
  • • NAIC
Statutory vs. GAAP Accounting
  • • One Universal Truth
  • • Differences
10:15 am
10:30 am
Overview continued and Life Insurance Business
Trends/Historical Results
  • • Separate Accounts
Life Insurance Business Cycle
Analytical Methodology
12:00 pm
01:00 pm
Introduction of Statutory Filings
Separate Account Review
  • • Usage and purpose
  • • Flow of funds
  • • Liabilities
  • • Major points
  • • Reporting “Rules”
Statutory Financial Reporting: Overview
  • • Key filing documents
  • • The Annual Statement
02:30 pm
02:45 pm
Statutory Filings Contd.
Balance Sheet: Assets
  • • Invested Assets
  • • Investment Income
  • • Interest Maintenance Reserve
  • • Asset Valuation
  • • Other Non-Invested Assets
05:00 pm
Day One Concludes
08:00 am
Continental Breakfast Opens
08:30 am
Statutory Filings Contd.
Premium Accounting and Analysis
  • • Gross and net premiums
  • • Loading
  • • Premium recognition
Summary of Operations
10:15 am
10:30 am
Statutory Filings Contd.
Annual Statement: Liabilities Reserves
  • • Valuation methods
  • • Annuity reserves
Line Items
12:00 pm
01:00 pm
Introduction to Financial Analysis
Old American Insurance Co. example
02:30 pm
02:45 pm
Financial Analysis
Regulatory and Solvency Ratios
  • • Control models
  • • IRIS Overview
  • • Key ratios
05:00 pm
Day Two Concludes
THURSDAY, May 18th
08:00 am
Continental Breakfast Opens
08:30 am
Financial Analysis of Old American Insurance Co.
Asset Composition and Detail
Liabilities and Capital
10:15 am
10:30 am
Financial Analysis of Old American Insurance Co. Contd.
Profitability Analysis
  • • Profitability Index of Ratios
  • • Leverage Ratios
12:00 pm
01:00 pm
Financial Analysis of Old American Insurance Co. Contd.

Profitability/Return Measures


Ceded Reinsurance Analysis


Analysis of Revenue Sources/Profitability

02:30 pm
02:45 pm
Financial Analysis of Old American Insurance Co. Contd.
Capital Management and Analysis
  • • Issues
  • • Understanding/Defining Risk Considerations
  • • Generalized Strength Ratios
  • • Red flags
Risk Based Capital
  • • Measurement concepts
  • • Risk categories
  • • Impact on company practices
05:00 pm
Program Concludes

Ticket Info

Early Bird Rate: $2,495
(April 21, 2017)

Registration Fee: $2,695


Event location

Downtown Conference Center
157 William Street
New York, NY
+1 (212) 618-6990

Your registration includes all program work materials, plus continental breakfast and lunch for each day you are registered.

Group pricing discounts and in-house options are available.
Call +1 (888) 991-7786 for more information.

Downloads & FAQs

Download our Insurance Sector Training Course Catalog

Who Attends?

  • Buy-side and sell-side investment analysts 
  • Insurance company accounting and audit professionals
  • Life insurance underwriters looking for insight into the financial effects of their activities on the company
  • Corporate and business development professionals performing competitor analysis
  • Legal advisor and management consultants looking to better advise their clients

This program presumes an understanding of basic accounting and analysis concepts.

What is the dress code? 
Business casual

Do I need a laptop?

Are meals included?
Your registration includes continental breakfast and lunch both days.

Where should I stay?
Information about accommodations can be found under the "Venue and Accommodations" tab at left.

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

21 Hours of Continuing Education Credit
As a participant in the CFA Institute Approved-Provider Program, SNL Knowledge Center has determined that this program qualifies for 21 credit hour(s). If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE tracking tool.
25 Hours of CPE Credit
Participants who complete this program qualify for 25 hours of CPE credit (Specialized Knowledge and Applications). Program Level: Intermediate. Delivery Method: Group-Live. 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 submitted to the National Registry of CPE Sponsors through its website: