Description
This is a follow-on event to the face to face “Insurance Finance Basics”. It is delivered as a 90 min webinar for those who have some existing insurance financial knowledge but who want to explore the particular financial aspects of the Lloyd’s business model.
The webinar revises Lloyd’s dual accounting, the main financial statements and the key ratios. Within this framework we explore the operational elements that directly affect its ability to deliver profit and a return on capital whilst maintaining its solvency and liquidity.
All this is discussed in the context of the unique set of challenges that Lloyd’s faces.
What you will learn
Course Objective
At the end of the course delegates will be able to:
- Revise Lloyd’s cashflow model, key financial statements, and the key ratios they reveal
- Differentiate between Year of Account and GAAP accounting: recognising profit
- Explain how the direct relationship between underwriting capacity and capital influences business planning and decision making
- Dissect the Combined Ratio to manage its component parts.
Course Content
- The financial characteristics of Lloyd’s cashflow cycle
- The technical account and the balance sheet
- Capacity, capital and the alternative sources of capital
- Funds at Lloyd’s, the Central Fund and the purpose of the ECA
- Reconciling funded underwriting year with GAAP accounting
- Recognising revenue, cost and profit
- the individual elements of the Combined Ratio
- Net v Gross: what they mean
- Claims incurred: paid, case reserves and IBNR
- Acquisition costs and management expenses
- Factoring in reinsurance
01525 850086
Email