Course in Solvency and Reserves in Reinsurance
Online course of 300 h in solvency and reserves in reinsurance. 6 modules covering Directive 2009/138/CE (Solvency II), Delegated Regulation (EU) 2015/35 (development of Solvency II) and ResQ (WTW). Assigned tutor and open enrolment.
Take the controls.
Run a real engineering trade-off from this programme. Move the sliders, watch the model react in real time and beat the challenge.
What you will be able to do
Explain the particularities of a reinsurer's solvency.
Calculate the best estimate and risk margin of technical provisions.
Quantify reserve uncertainty using stochastic methods.
Assess the impact of assets, liquidity and counterparty risk on capital.
Calculate the solvency capital requirement using the standard formula.
Prepare the prudential information required by the supervisor.
Interpret the solvency position in the context of the reinsurance market.
Who it's for
- Reserving actuary in reinsurance who wants to specialise in Solvency and Reserves in Reinsurance.
- Capital and solvency analyst who wants to specialise in Solvency and Reserves in Reinsurance.
- Risk manager at a reinsurer who wants to specialise in Solvency and Reserves in Reinsurance.
- Actuary in the actuarial function who wants to specialise in Solvency and Reserves in Reinsurance.
- Asset and liability management analyst who wants to specialise in Solvency and Reserves in Reinsurance.
- Prudential reporting technician who wants to specialise in Solvency and Reserves in Reinsurance.
- Graduates in engineering or science seeking to enter reinsurance.
What you'll work with
- Directive 2009/138/CE (Solvency II)
- Delegated Regulation (EU) 2015/35 (development of Solvency II)
- IFRS 17 (insurance contracts)
- Law 20/2015 (regulation, supervision and solvency of insurance undertakings, LOSSEAR)
- Royal Decree 1060/2015 (ROSSEAR)
- IFRS 9 (financial instruments)
- EIOPA guidelines on the valuation of technical provisions
6 modules · 300 h
1.1Particularities compared with direct insurance1.2Volatility and nature of the business1.3Applicable prudential frameworks1.4Equivalence and cross-border supervision1.5Own funds and their quality1.6Capital requirement and its calculation1.7Vocabulary and acronyms in the field1.8Role of ratings1.9Group supervision1.10Exercise: reading a solvency report
2.1Outstanding claims reserves2.2Incurred but not reported claims2.3Information received from cedants and its delay2.4Applicable projection methods2.5Treatment of large claims2.6Unearned premium reserves2.7Risk margin and discounting2.8Inflation and its effect on the tail2.9Validation and independent review2.10Practice: estimating reserves for a treaty
3.1Sources of uncertainty in reserves3.2Reserve ranges and scenarios3.3Analysis of historical development3.4Deterioration and its early detection3.5Additional reserves and their justification3.6Communicating uncertainty3.7Effect on result and capital3.8Governance of reserving decisions3.9Commercial pressure and its management3.10Practice: analysis of reserve deterioration
4.1Composition of the investment portfolio4.2Asset-liability matching4.3Liquidity in the event of a major event4.4Market risk and its capital4.5Credit and counterparty risk4.6Effect of retrocession4.7Combined stress tests4.8Capital contingency plans4.9Access to capital under stress4.10Practice: liquidity stress test
5.1Prudential reporting and its timetable5.2Public disclosure and its content5.3Dialogue with the supervisor5.4Relationship with rating agencies5.5Communication with the market and cedants5.6Transparency after a major event5.7Monitoring indicators5.8Governance and key functions5.9Continuous improvement of the framework5.10Practice: summary solvency report
6.1Choice of reinsurer and its portfolio6.2Estimation of technical reserves6.3Uncertainty analysis6.4Capital and coverage calculation6.5Stress and liquidity tests6.6Capital contingency plan6.7Reporting and communication plan6.8Monitoring indicators6.9Analysis report6.10Defence of the project
How you'll learn
100 % online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. No fixed timetable: students progress at their own pace within the intake, which allows it to be combined with work.
Each module combines theory, guided reading of the original standard and applied exercises. The working software is ResQ (WTW), R (ChainLadder), Igloo (WTW), Remetrica (Aon), Excel avanzado, in free, academic or trial versions. The exercises are based on real technical provision calculation procedures using loss triangles, estimation of a reinsurer's SCR using the standard formula, and liquidity and capital stress tests. Assessment is continuous by module plus the final integrative project.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Explain the particularities of a reinsurer's solvency.
Calculate the best estimate and risk margin of technical provisions.
Quantify reserve uncertainty using stochastic methods.
Assess the impact of assets, liquidity and counterparty risk on capital.
Calculate the solvency capital requirement using the standard formula.
Where this takes you
Requirements
- No prior qualification required.
- Internet connection and a computer capable of running the programme's software.
- Sufficient level of Spanish to follow technical regulatory texts.
Ready to start?
Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.
Frequently asked questions
The programme comprises 300 hours in total, spread over 3 to 5 months. That is between 10 and 15 hours per week on average, compatible with a full-time job.
The work is carried out with ResQ (WTW), R (ChainLadder), Igloo (WTW), Remetrica (Aon), Excel avanzado. Free, academic or trial versions are used, and the tutor indicates the free alternative where one exists.
SEIUM's own diploma upon passing the continuous assessment and the integrative project. It is in-house training, not an official Ministry qualification.
Yes. Modules passed in a course or postgraduate diploma in the same area are credited towards the advanced programme. Check the credit transfer policy when you enrol.
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