Life Reinsurance

Submitted by Administrator on Fri, 11/18/2011 - 11:29am

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Course Title: Life Reinsurance

Description: Comprehensive discussion of the concept of reinsurance and how reinsurance is used in the life insurance industry, as well as accounting and reporting for life reinsurance on a GAAP and statutory basis.

Topic: Reinsurance for Life Companies

Level: Basic

CPE Credits: 1.5 hours

Prerequisites: None, but a basic understanding of life insurance economics and accounting is helpful

NASBA publication/revision date: October 2011

Learning Objectives:

Upon successful completion of Life Reinsurance, the learner should be able to:

  • Describe the basic concepts of life reinsurance
  • Identify the objectives life insurance companies try to accomplish through the use of reinsurance
  • Describe the types and forms of reinsurance used in the life insurance industry
  • Describe how reinsurance transactions are reported in both the Statutory and GAAP financial statements of life insurance companies
  • Identify accounting treatments of the various forms of life reinsurance on both a Statutory and GAAP basis, including financial reinsurance and accounting issues related to risk transfer
  • Describe how reinsurance is regulated and the impact of regulation on statutory accounting, including the unauthorized reinsurer concept and statutory Schedule S

Outline:

  • Getting Started
  • Learning Objectives
  • Basic concepts of reinsurance
    • What is reinsurance
    • Reinsurance terminology
  • Uses of reinsurance in the life insurance industry
  • Types and forms of reinsurance used in the life insurance industry
    • Indemnity reinsurance
    • Proportional and non-proportional
    • Risks that can be reinsured
    • Coinsurance
    • Modified coinsurance
    • Yearly renewable term
  • Reinsurance reporting for life insurance companies
    • Reinsurance in the financial statements
    • GAAP for reinsurance assumed and ceded
  • Accounting for reinsurance transactions
    • Coinsurance
    • Modified coinsurance
    • Yearly renewable term
    • Recapture
    • Transfer of risk issues
  • Regulation of life reinsurance
    • SSAP 61, Appendix 785 and 791
    • Unauthorized reinsurance
    • Schedule S
DateTimeCost
$160 (first attendee)
$140 (each additional attendee)		Registration is closed.
(Registration closes 2 hours prior to the starting time.)

Note: All times are US Eastern. What time is it now?.


System Requirements:
  • Windows 95 or Higher
  • Internet Explorer 5.0 or Higher
  • 800 x 600 or higher screen resolution
  • Macromedia Flash Player 5 or Higher
  • Acrobat Reader