Reinsurance Accounting and Reporting

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What you will learn:

Participants will learn how the various forms of reinsurance function, how they are accounted for, and how they are used to control the volatility of earnings, create or stabilize surplus, or move profits to affiliates. We also look at distinctions between risk transfer and financing, applicable NAIC model regulations, and Annual Statement reporting and GAAP disclosures.

Seminar content:

• Basic reinsurance concepts
  • Reinsurance as a financial planning tool
  • Risk transfer issues
  • Retention schedules
• Forms of reinsurance used by life insurers
  • Coinsurance, modified coinsurance, yearly renewable term, stop loss and catastrophe
• Regulation of reinsurance
• Statutory accounting and reporting
  • Annual Statement and Schedule S
  • Penalty for unauthorized reinsurance
  • Assumption reinsurance versus idemnity reinsurance of existing blocks
  • Impact of reinsurance on risk-based capital
• GAAP accounting and reporting
  • Impact on revenue, reserves and DAC
  • Requirements to qualify for reinsurance treatment
  • Reinsurance of guarantees in products

Who Should Attend:

Accountants, financial specialists, actuaries, reinsurance administrators, management or others involved with reinsurance reporting or needing to understand the purpose, form, administration or financial effects of reinsurance agreements. Both ceding and assuming company personnel will benefit from learning how reinsurance affects statutory and GAAP financial results and reporting.

Prerequisites:

No advance preparation or prerequisite is required for this intermediate level seminar.

Class Times:

Class begins at 8:30 a.m. and ends at 5:00 p.m. on the first day and at 12:15 p.m. on the second day.

Estimated CPE Credit: 12.0 hours

Tuition: $1395

Upcoming seminar dates and locations:

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