COURSE OVERVIEW

This practical and highly-interactive course includes various practical sessions and exercises. Theory learnt will be applied using the “MS Excel” application.
This course is designed to provide participants with a detailed and up-to-date overview of Insurance Accounting. It covers the insurance and non-insurance accounting; the various types of insurance, components of an insurance contract and accounting standards for insurance; the income statement, balance sheet and statement of cash flows for insurance operations; the purpose of reserves, types of reserves, estimation and calculation of reserves and regulatory requirements for reserve adequacy; the revenue streams in insurance companies and the life and non-life insurance revenue; the premium accounting, reinsurance accounting and claims accounting; and the types of insurance liabilities, deferred acquisition costs (DAC) and investment portfolio in insurance.
Further, the course will also discuss the interest and dividend income and the impact of market value changes on financial statements; the financial instruments and fair value through profit or loss (FVTPL) and amortized cost and fair value through OCI (FVOCI); the methods for valuing fixed-income securities and valuation of equities and alternative investments; and using derivatives in insurance and hedge accounting under IFRS 9.