CariCRIS- Insurance Company Credit Risk Analysis Workshop

About the course
This practical one-day Insurance Company Credit Risk Analysis Workshop is being offered with the basic objective of imparting to participants the skills, approaches and techniques used in credit risk identification and analysis of insurance companies. The comprehensive 4-session programme will have a judicious mix of the conceptual framework and methodology for analysing insurance companies as well as practical case studies relevant to the Caribbean context. The training will also include extensive interactive discussions with the faculty experienced in credit ratings and benchmarking risk of insurance companies across the Caribbean. By understanding the credit ratings approach to insurance company ratio analysis, participants will be able to enhance their skills and knowledge, and also benefit from discussions with the faculty on the various nuances in credit risk assessment and financial ratio analysis of insurance companies in the Caribbean.
About CariCRIS
CariCRIS is the Caribbean’s first regional credit rating agency. It is a unique market-driven initiative aimed at fostering and supporting the development of regional debt markets in the Caribbean. CariCRIS’mission is to contribute to the development of a vibrant, integrated Caribbean capital market by setting the highest standards of credible independent analysis and opinion to enable informed financial decisions. CariCRIS’ technical consultant, CRISIL Limited, is the world’s fourth largest rating agency and an associate company of Standard & Poor’s (S&P).
Who Should Attend?
The course should be of particular interest to:
  • Credit analysts and managers from insurance companies, commercial banks, credit unions and other lending institutions
  • Fixed income analysts with brokerages & investment banks
  • Dealers / Investment managers from banks, insurance companies and other financial institutions
  • Mutual Fund & Pension Fund analysts/ Asset managers
  • Corporate treasury managers
  • Risk analysts in insurance companies, banks and other financial institutions
  • Banking, insurance and financial sector regulators
  • MBA / business graduates wishing to gain a clearer insight into practical aspects of assessing credit risk of insurance companies
Expectations/ Qualifications of participants
·         Basic professional qualifications relevant to business analysis, accounting & finance or a basic knowledge of the aspects borne out of practical experience
Profile of the faculty
The faculty for this training programme will include CariCRIS’ Head of Ratings, Arjoon Harripaul and Rating Analyst Andre Joseph. The faculty, between them, have over 30 years of experience in varied fields of financial analysis and economics, executed several credit rating assignments across the region and have conducted several training sessions for credit officers and middle and senior management staff from insurance, financial and other institutions.
Course Coverage
Over the 4 sessions, the training programme will cover the following:
·         How to Analyse the Credit Risk of Insurance Companies
Framework and methodology for evaluation of credit risk of insurance companies    including
Ø Business Risk
o   Key parameters in evaluating business risk include:
§ Industry risk
§ Business mix
§ Underwriting policy
§ Pricing
§ Reinsurance
§ Market position
§ Asset quality
§ Technology
Ø Management Risk
o   Key parameters include:
§ Competence
§ Risk appetite
§ Integrity
Ø Financial Risk
o   Key parameters include:
§ Accounting policies
§ Capitalisation
§ Profitability
§ Liquidity
§ Financial Flexibility
Ø Parent Support (as applicable)
o   Key parameters include:
§ Economic rationale
§ Moral obligation
§ Parent credit rating
·         Ratio Analysis of Insurance Companies
Ø Understand the meaning and computation of capital adequacy ratio, loss ratio, expense ratio, combined ratio, profitability ratios, liquidity ratios and reserves.
·         Ratio Analysis Application
Ø Practical exercise requiring participants to calculate ratios based on raw data provided for a local insurance company and group discussion of the results
·         Case Study – Credit analysis and rating of a local insurance company
Ø Application of the knowledge gained in Sessions 1 to 3 to carry out the actual rating of a local insurance company
Ø Practical, hands-on training based on analysis and presentation by participant groups and faculty review
Ø Rating to be assigned on all key parameters on rating scale used by CariCRIS
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