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Financial Analysis of P&C Insurers - January 2013  -  January 29-30, 2013

8:00 am

DAY ONE - Tuesday, January 29

  • Registration and continental breakfast open
8:30 am

Program Begins

Introduction and Overview
  • Overview of trends/historical results
  • Property and Casualty business cycle
  • Regulatory control measures: Test systems; Capital assessments; Ratings agency approaches

Fundamental Metrics – Part 1
  • Overall description
  • Combined ratio
  • Operating ratio: Key variations; Discounted ratio; Accident year insurance operations analysis

Fundamental Metrics – Part 2

  • Expense analysis ratios: Acquisition expenses; G&A expenses
  • Dividend Ratios
  • Liquidity Ratios: Cash flow rations; Coverage ratios, Asset coverage rations

Fundamental Metrics – Part 3

  • Leverage ratios: Employed capital ratios; Liability ratios; Premium ratios
Day One concludes at approximately 5:00 p.m.

8:00 am

DAY TWO - Wednesday, January 30

  • Continental breakfast opens
8:30 am

Program Begins

Ceded Reinsurance Program Analysis


Profitability Measures

Summary of Loss Reporting

  • Underwriting
  • Investment exhibit
  • Schedule P

Illustration of Accounting Year Reporting

  • Calendar year
  • Policy year 
  • Accident year

Loss Reserve Analysis

  • Calendar year measures: Test ratios; Trend analysis/credibility
  • Projection techniques: Survival ratios; Run-off ratios; Squaring the triangle; Incurred loss techniques 
  • Capitalization/financial strength ratios
  • Loss/float ratio analysis and Float return theory
Red Flags

Day Two concludes at approximately 5:00 p.m.
Kevin Oates
Instructor, SNL Knowledge Center

Kevin has spent his entire career in the insurance industry and since 1996 has worked as independent consultant and instructor conducting in-house and open enrollment training for Wall Street and industry firms.

Prior to 1996 he was senior vice president of an international insurance/reinsurance consulting firm, providing management and accounting services to private and public institutions.

Kevin's industry management background includes executive financial positions with holding companies, underwriting organizations, and as vice-president of reinsurance operations with a reinsurance intermediary. In 1988, he co-founded a consulting firm, which was subsequently merged into an international network.

His instructing background includes positions as an adjunct instructor of accounting at Queens College, Rutgers University, and as an instructor in property/casualty insurance accounting and annual statement preparation at the New York College of Insurance.

Kevin is a graduate of New York University, and received an MBA in Corporate Finance from Rutgers University. He is a Fellow of the Life Management Institute (FLMI), and holds the Associate in Reinsurance (ARE), and Associate in Insurance Accounting and Finance (AIAF) designation from the Insurance Institute of America. He is the author of the Reinsurance Accounting Chapter of the Strain Reinsurance Textbook and a contributing author to the NAIC Receiver's Handbook.

Event Date:
January 29-30, 2013
Event Location:
Downtown Conference Center
157 William Street
New York, NY, US
Registration Fee:

Financial Analysis of P&C Insurers is for professionals who have mastered a basic understanding of insurance industry accounting (as covered in our seminarFundamentals of P&C Statutory Accounting and Reporting) and work in the following areas:

  • Buy-side and sell-side investment analysts who need the intermediate skills to understand and analyze P&C insurers
  • Corporate and business development professionals performing competitor analysis
  • P&C underwriters looking for insight into the financial effects of their activities on the company.
  • Legal advisor and management consultants looking to better advise their clients
Event Date:
January 29-30, 2013
Downtown Conference Center
157 William Street
New York, NY, US
(212) 618-6990

Although lodging is not provided as part of this program, the hotels listed below are convenient to the Downtown Conference Center. Please call the Downtown Conference Center to inquire about negotiated rates or with any other lodging related questions (212) 618-6990.

Millennium Hilton
55 Church St.

Gild Hall
15 Gold St.

Seaport Inn 
33 Peck Slip

Hampton Inn Seaport
320 Pearl St.

Conrad Hotel
102 North End Ave.

Eurostars Wall Street Hotel 
129 Front St.

Wall Street Inn 
9 S William St.

Ritz-Carlton Battery Park 
2 West St.

CFA Institute
14 Hours of Continuing Education Credit
SNL Knowledge Center is registered with CFA Institute as an Approved Provider of professional development programs. This program is eligible for 14 CE credit hours as granted by CFA Institute. If you are a CFA Institute member, CE credit for your attendance at this event will be automatically recorded in your CE Diary upon request.
National Association of State Boards of Accountancy
16 Hours of Continuing Education Credit
Participants who complete this program qualify for 16 hours of CPE credit (Specialized Knowledge and Applications). Program Level: Intermediate. Delivery Method: Group-Live. SNL Knowledge Center is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 4th Ave N, Ste 700, Nashville, TN, 37219-2417. Website: www.nasba.org.

What is the dress code?
Business casual

Do I need a laptop?

What is the cancellation policy?
Cancellations for this program are eligible for a full refund, less a $150.00 administrative fee, if received at least 15 business days prior to the start of the program. Cancellations received after that date but at least 5 business days prior to the start of the program receive a credit in the amount of the registration fee, less a $150.00 administrative fee, to attend another SNL Knowledge Center program within 13 months. Cancellations received fewer than 5 business days prior to the start of the program are not eligible for a refund or credit.

Attendee substitutions from the same company may be made at any time.

In the event of a cancellation from a group discount, refunds or credits are issued beginning with the most heavily discounted price, minus a $150.00 administration fee.

"No shows" - or those who cancel within 15 days of the program - and have registered under the Invoice option, remain liable for the full program fee.

SNL Knowledge Center reserves the right to cancel/change programs, content, speakers or venue at any time. SNL Knowledge Center reserves the right to make portions of the program registration information available to program sponsors. SNL Knowledge Center will not be held liable for any costs incurred by registrant due to individual registration cancellation. In the event that a seminar is cancelled due to inclement weather, faculty cancellation or force majeure, SNL Knowledge Center will refund the registrant's tuition in full, however SNL Knowledge Center will not be liable for incidental or consequential out of pocket expenses incurred by the registrant. If you have questions regarding SNL Knowledge Center's refund, complaint or program cancellation policy, please call us at (434) 951-7786.

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