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04 November 2019

Insurance accounting for underwriters

Category: MASTER COURSE

This one-day classroom training event has been developed for insurance underwriters who need a better understanding of the financial reporting of their business activities. Basic accounting principles are covered initially followed by the accounting for insurance activities.

Who should attend?
This one-day classroom training event has been developed for insurance underwriters who need a better understanding of the financial reporting of their business activities. Basic accounting principles are covered initially followed by the accounting for insurance activities.

What you will gain  

  • Understand the accounting principles behind the construction of a simple set of financial statements
  • Appreciate the terminology differences between the language of the underwriters and that of the accountants
  • Know how the underwriting inputs affect the GAAP financial results
  • Be able to interpret and analyse GAAP financial information for the insurance business
  • Understand the investing side of the business, and appreciate its importance
  • Be able to benchmark a company against other comparable insurers based on a number of criteria
  • Be better placed to have more informative and valuable conversations with brokers and other parties

Programme outline
The training day will include a mix of instructor presentation, group discussion and interactive exercises to reinforce the key learning points:

Basic accounting principles and financial statement mechanics

  • Cash flow statement
  • Income statement
  • Statement of financial position (balance sheet)
  • Terminology
  • Links and integration of the statements
  • Accruals concept
  • Simple statement construction exercise

Insurance accounting; accounting for underwriting business

  • Terminology (GAAP vs Lloyd’s)
  • Written premium
  • Reinsurance premium
  • Earned premium
  • Written vs earned (reconciliation)
  • Practical earnings exercise
  • Losses/claims
  • Practical issues

Investments and other topics

  • Balance sheet investments
  • Accounting for investment returns
  • Investment strategy
  • Other income statement expenses

Financial assessment; KPIs and industry benchmarking

  • Loss ratio, expense ratio, combined ratio
  • Investment return
  • Return on equity
  • Other key ratios, calculation and interpretation

Wrap up; true/false quiz

The course starts at 9.30am. Lunch and refreshments are included.

6 CPD hours (where applicable).

CIMA work in partnership with BPP Professional Education to offer CPD training courses

Booking Information

Date Location Price
4 November 2019 - 09:30 London Price: GBP 634.00
Member price: £571. Plus VAT on all prices.


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  • Location:
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  • Speaker(s):

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Insurance accounting for underwriters

CIMA members and students should log in to MY CIMA before booking to receive the appropriate discount.

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In-house training 
We can develop tailored training programmes to enhance the finance and business skills of staff across your organisation. To discuss how we can meet your learning and development needs please email us.

Find out more 
If you have any queries please email cima@bpp.com or phone us on: +44 (0)3300 603400.

The venue for this course will be confirmed 14 days before the scheduled date. 

CIMA work in partnership with BPP Professional Education to offer CPD training courses.  

This course will be delivered by BPP Professional Education Limited (“BPP”).  Accordingly, when you sign up for this course, CIMA will pass on the contact details you have provided to BPP so that they can contact you to complete your booking and process payment.  BPP will process any personal information it collects about you in accordance with its privacy policy, which is available at: http://www.bpp.com/professional-education/privacy

The information provided to BPP will not be used by BPP for marketing purposes.

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