• New entrants in the insurance and reinsurance industry
• Finance, accounting, or operations professionals transitioning into reinsurance roles
• Underwriters, claims handlers, and brokers seeking foundational knowledge of reinsurance accounts
• Risk analysts, actuaries, and compliance officers interested in reinsurance mechanics
• Insurance regulators and policymakers exploring the role of reinsurance in risk sharing and financial stability

At the end of the programme, participants should be able to:

• Understand reinsurance fundamentals and its role in risk transfer and capital management
• Distinguish between proportional and nonproportional reinsurance, and identify different contract structures
• Explain the structure and implications of reinsurance accounts and technical provisions
• Understand reinsurance programmes and know how insurer solvency and financial statements are ascertained
• Understand key financial ratios, loss reserving practices, and portfolio considerations in reinsurance
• Explain the broader impact of reinsurance on society, the economy, and the environment

Day 1: Foundations and Risk Sharing in Reinsurance

• Topic 1 – Foundations of Reinsurance
  
  • Introduction to reinsurance: purpose, structure, and global context
  • Core principles of insurance and reinsurance
  • The roles of underwriters and intermediaries
  • Understanding the landscape: private vs. public sector underwriting, reinsurance pools
  • Placement of reinsurance: facultative and treaty, proportional vs. non-proportional
  • Exploration of traditional vs. non-traditional structures, including insurance-linked securities and parametric models
  • Technical account basics: inuring reinsurance and hours clauses
• Topic 2 – Risk Sharing and Financing
  
  • Conceptual basis of insurance and reinsurance premiums
  • The relationship between risk portfolios, loss distributions, and pricing
  • Understanding pure vs. gross premiums
  • Claims-related costs: losses and LAE
  • Temporal distinctions in premium and claims accounting (calendar year, policy year, accident year)
  • Reinsurance premiums, retentions, and cessions
  • Introduction to reinsurance programmes and evaluation techniques
  • Highlight: Participants will work through an illustrative case exercise tracing a risk from underwriting to reinsurance cession and premium allocation.

Day 2: Proportional and Nonproportional Accounts

• Topic 3 – Proportional Treaty Reinsurance Accounts
  
  • Structures: quota share vs. surplus treaties
  • Account basis differences: gross vs. net
  • Commissions: fixed, sliding scale, and profit commissions
  • Rate discussions: OGR vs. ONR
  • Key operational considerations: portfolio entry/withdrawal, clean-cut vs. run-off
  • Cash calls and notification processes
  • Treaty account examples and walkthroughs of quarterly reporting
• Topic 4 – Nonproportional (Excess-of-Loss) Reinsurance Accounts
  
  • Mechanics of excess-of-loss reinsurance
  • Premium setting in XL: flat rating, loss rate, exposure rating, and burning cost
  • Claims handling: occurrence vs. claims-made basis
  • Reinstatement premiums and their calculations
  • Managing volatility: currency and inflation exposure
  • Comparison and contrast with proportional accounting
  • Highlight: Case activity in which participants analyse and compare proportional and XL treaty accounts.

Day 3: Retention, Losses, Financial Analysis, and Broader Context

• Topic 5 – Managing Retentions and Losses
  
  • Strategic and operational considerations in setting retention levels
  • Factors affecting retentions: internal, external, and regulatory
  • Probable Maximum Loss (PML) estimation and use
  • Reserving practices: loss development, IBNR, and estimation risk
  • Reinsurance accounts on the PML basis
• Topic 6 – Operational and Financial Analysis
  
  • Life cycle of a (re)insurer: setup, underwriting, and financial reporting
  • Key financial statements: balance sheet and P&L
  • Solvency frameworks: rule-based vs. risk-based
  • Key ratios: underwriting, investment, capacity/leverage, liquidity, and reinsurance tests
  • Case Study: Simulacrum Reinsurance Company—performance assessment and benchmarking
• Topic 7 – Society, Economy, Environment and Reinsurance
  
  • Role of reinsurance in societal and economic stability
  • Emerging risks and environmental challenges
  • Evolving expectations: sustainability and ESG in reinsurance practice
  • Closing Activity: Facilitated discussion on how foundational reinsurance knowledge prepares professionals to tackle future challenges, followed by a Q&A.

‍

Shiva Venkatesh Iyer, is the Executive Director at Aon Reinsurance Solutions Asia Pte Ltd in Singapore. A Singaporean with a Master of Commerce from the University of Mumbai, he also holds certifications from the Indian Institute of Bankers and the Insurance Institute of India, along with a specialization in Insurance Risk Management from the UK. With a career spanning from 1981, Shiva has extensive experience across various roles in the industry, including positions in India and Singapore. At Aon since 1997, he oversees technical advisory services and ensures compliance within the region. Notably, Shiva leads the Contract Certainty Working Group initiated by the Monetary Authority of Singapore.

Full Course Fee: S$1,090.00 (incl. of 9% GST)

A 10% Group Discount is also applicable for organisations registering a minimum of three participants.

‍

Net Course Fee: S$790.00 (incl. of 9% GST and after 30% FTS funding)

For Singapore Citizens below 40 years old and Singapore Permanent Residents

‍

Net Course Fee: S$590.00 (incl. of 9% GST and after 70% FTS funding)

For Singapore Citizens aged 40 years old and above

‍

This course is recognised under the Financial Training Scheme (FTS) and is eligible for FTS claims subject to all eligibility criteria being met.

Please note that in no way does this represent an endorsement of the quality of the training provider and course. Participants are advised to assess the suitability of the course and its relevance to his/her business activities or job roles.

The FTS is available to eligible entities based on the prevalent funding eligibility, quantum and caps.  FTS provides up to 70% course fee subsidy support for direct training costs subject to a cap of S$500 per candidate per course subject to all eligibility criteria being met.

Find out more on www.ibf.org.sg.