Financial Analysis of Insurance Companies

Curriculum!!!

What you'll learn

Who should take this

Faculty

Module 1: Introduction

Industry overview and analysis
Recent scandals and shenanigans
Emerging issues and challenges

Module 2: Regulatory Environment

Evolution & Background
Role of the NAIC
State vs. federal regulation
Likely outcomes of recent financial crisis

Module 3: The Insurance Operating Cycle

Premiums
Claims
Reserving
Investment income
Operating expenses
Adjustments

Module 4: Statutory vs. GAAP Comparisons

Solvency vs. going concern concept
Admitted vs. non-admitted assets
Reserving methods
Statutory liabilities
Acquisition costs
Revenues & expenses
Capital & surplus

Module 5: Asset Valuation

Invested assets: bonds, stocks, real estate, mortgage loans, receivables, deferred taxes, goodwill and intangibles
Impairment tests
Receivables
Deferred acquisition costs (DAC)

Module 6: Liability Valuation

Case & IBNR reserves
Policyholder benefits
Claim reserves
Annuity reserves
Loss adjustment expense (LAE)
Unearned premium reserve (UPR)
Deposit liabilities

Module 7: Capital & Surplus

Capital stock
Surplus notes
Unassigned funds
Treasury stock
Risk-based capital (RBC)

Module 1: Reinsurance Transactions

Reasons for reinsurance
Types of reinsurance
Affect of reinsurance on operations
Reinsurance assets
Reinsurance liabilities
SAP vs. GAAP differences
Finite risk reinsurance
Testing for risk transfer
Accounting for finite reinsurance

Module 2: Financial & Rating Agency Measures

Capacity ratios
Liquidity ratios
Leverage ratios
Profitability ratios
Affect of holding companies
Financial ratings: What do they mean?

Module 3: Capital Adequacy Analysis

Statutory solvency analysis
NAIC's risk-based capital (RBC) formula
Rating agency capital adequacy measures (BCAR)
Warning signs of financial difficulties

Module 4: Risk Management & Hedging

Rising importance of ALM
Types of risks
Hedging programs

Module 5: Mergers & Acquisitions

Recent M&A activity
Valuation approaches
Assumption reinsurance transfers

Module 6: Financial Forecasting

Correlating combined ratios with ROE goals
Life & health forecasting methods
Economic value analysis

Module 7: IFRS: A Looming Challenge

Evolution and background
Insurance Project Phase I
Insurance Project Phase II
Exposure draft
Industry comments
Current developments

In depth analysis of all aspects of the insurance operating cycle from valuation to risk management

Describe major industry trends and challenges
Explain the insurance industry's regulatory environment
Describe the operating cycle of an insurance company
Compare and contrast statutory and U.S. GAAP accounting
Describe the impairment tests for invested assets
Differentiate between loss reserves, policy reserves, UPR and IBNR reserves
Identify the components on an insurer's capital and surplus
Describe the nature and purpose of reinsurance
Identify the key elements of risk transfer in a reinsurance agreement
Conduct ratio analysis to assess an insurer's financial condition and results
Explain the methodologies used by rating agencies
Describe the key components of the NAIC's risk-based capital (RBC) formula
Identify warning signs of an insurer experiencing financial distress
Predict how changes in key variables might affect an insurer's financial results
Describe how insurance companies manage financial risk
Describe the impact of international accounting (IFRS) on the insurance industry
Refresh your knowledge of key insurance terms and concepts.

Financial analysts, credit analysts, ratings analysts, underwriting managers, consultants, and accountants

Jack Farmer

Jack is currently the Curriculum Director for the New York Institute of Finance. Farmer also acts as an outside adviser for portfolio managers at significant global investment funds. These funds included emerging markets equity funds and global macro hedge funds. Jack serves a variety of functions for the funds he advises, including the development of options strategies, quantitative strategies, and hedging strategies. Additionally, Jack specializes in capitalizing on systemic and macroeconomic imbalances in equity and fixed income markets throughout the world.

Jack specializes in training and consulting solutions for portfolio risk management, FX and interest rate derivatives and trading, equity index and volatility trading, equity derivatives and structured equity products, financial statement analysis and hedge accounting.

Education

BS in Engineering from Tulane University MBA in Finance and Accounting from Tulane University Ph.D. in Finance (ABD) from the University of Texas at Austin

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Jay is currently an Executive Vice President at NYIF, where he supports the CEO in developing partnerships with NYIF globally and in capital raising for business development purposes. Jay also serves as a Board Director for other privateand public corporations.

Joseph Iraci is currently the VP of Enterprise Risk Management and Internal Audit at Robinhood Markets, Inc. He is also an adjunct professor at the New Jersey City University’s School of Business and an instructor for the Advanced Risk Management Program that is co-sponsored by the Wharton School of Business and RMA. He is very active in various councils and committees within the financial services industry.

Education

Jay holds a BA degree from Rice University, MA and PhD degrees from Harvard University Graduate School of Arts & Sciences

test

Jay is currently an Executive Vice President at NYIF, where he supports the CEO in developing partnerships with NYIF globally and in capital raising for business development purposes. Jay also serves as a Board Director for other privateand public corporations.

Joseph Iraci is currently the VP of Enterprise Risk Management and Internal Audit at Robinhood Markets, Inc. He is also an adjunct professor at the New Jersey City University’s School of Business and an instructor for the Advanced Risk Management Program that is co-sponsored by the Wharton School of Business and RMA. He is very active in various councils and committees within the financial services industry.

Education

Jay holds a BA degree from Rice University, MA and PhD degrees from Harvard University Graduate School of Arts & Sciences

test 3

Jay is currently an Executive Vice President at NYIF, where he supports the CEO in developing partnerships with NYIF globally and in capital raising for business development purposes. Jay also serves as a Board Director for other privateand public corporations.

Joseph Iraci is currently the VP of Enterprise Risk Management and Internal Audit at Robinhood Markets, Inc. He is also an adjunct professor at the New Jersey City University’s School of Business and an instructor for the Advanced Risk Management Program that is co-sponsored by the Wharton School of Business and RMA. He is very active in various councils and committees within the financial services industry.

Education

Jay holds a BA degree from Rice University, MA and PhD degrees from Harvard University Graduate School of Arts & Sciences

test 4

Jay is currently an Executive Vice President at NYIF, where he supports the CEO in developing partnerships with NYIF globally and in capital raising for business development purposes. Jay also serves as a Board Director for other privateand public corporations.

Joseph Iraci is currently the VP of Enterprise Risk Management and Internal Audit at Robinhood Markets, Inc. He is also an adjunct professor at the New Jersey City University’s School of Business and an instructor for the Advanced Risk Management Program that is co-sponsored by the Wharton School of Business and RMA. He is very active in various councils and committees within the financial services industry.

Education

Jay holds a BA degree from Rice University, MA and PhD degrees from Harvard University Graduate School of Arts & Sciences

Financial Analysis of Insurance Companies

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You can also reach us on +1 347 842 2501 or mb100rabh@gmail.com

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Financial Analysis of Insurance Companies

Easy monthly payments

In depth analysis of all aspects of the insurance operating cycle from valuation to risk management

Jack Farmer

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Financial Analysis of Insurance Companies

Please complete this form and a NYIF Career Advisor will assist you.

Please fill in the field.

Please complete this form and a NYIF Career Advisor will assist you.

Please fill in the field.

Please complete this form and a NYIF Career Advisor will assist you.

Please fill in the field.

Please complete this form and a NYIF Career Advisor will assist you.

Please fill in a valid email and phone number.

Select preferred contact method

Please fill in the field.

Where Wall Street Goes to SchoolTM!

Please select a time and date from the calendar to book a 15-minute call with a NYIF Career Advisor.

You can also reach us on +1 347 842 2501 or mb100rabh@gmail.com

Something went wrong, please try again later!

Financial Analysis of Insurance Companies

Easy monthly payments

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