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Course in Reinsurer Solvency Assessment

Online 300-hour course in reinsurer solvency assessment. 6 modules covering Directive 2009/138/EC (Solvency II), Delegated Regulation (EU) 2015/35 (counterparty default risk) and S&P Capital IQ. Assigned tutor and open enrolment.

Duration300 h
ModeOnline
LanguageEnglish
Start datesSet by the faculty
AwardSEIUM Institute certificate
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Learning outcomes

What you will be able to do

01

Explain counterparty risk in reinsurance programmes.

02

Analyse financial statements and solvency reports of reinsurers.

03

Interpret credit ratings and prudential frameworks.

04

Calculate the effect of counterparty risk on capital.

05

Design mitigation mechanisms such as collateral and deposits.

06

Establish a reinsurer security policy.

07

Prepare an evaluation report on a reinsurer panel.

Profile

Who it's for

  • Reinsurance security analyst who wants to specialise in Reinsurer Solvency Assessment.
  • Reinsurance purchasing manager who wants to specialise in Reinsurer Solvency Assessment.
  • Counterparty risk manager who wants to specialise in Reinsurer Solvency Assessment.
  • Insurance rating analyst who wants to specialise in Reinsurer Solvency Assessment.
  • Risk actuary who wants to specialise in Reinsurer Solvency Assessment.
  • Reinsurance broker who wants to specialise in Reinsurer Solvency Assessment.
  • Engineering or science graduates seeking to enter insurance companies.
Standards & tools

What you'll work with

  • Directive 2009/138/EC (Solvency II)
  • Delegated Regulation (EU) 2015/35 (counterparty default risk)
  • Regulation (EC) No 1060/2009 on credit rating agencies
  • IAIS ICP 13 (reinsurance)
  • EU-US Bilateral Agreement on insurance and reinsurance (2017)
  • IFRS 17 (reinsurance contracts held)
  • NAIC Risk-Based Capital
Syllabus

6 modules · 300 h

  1. 1.1Why reinsurer solvency matters
  2. 1.2Default risk and its materialisation
  3. 1.3Long gap between cession and collection
  4. 1.4Counterparty concentration
  5. 1.5Effect on the capital of the cedant
  6. 1.6The broker's role in selection
  7. 1.7Sector vocabulary and acronyms
  8. 1.8Historical cases of insolvency
  9. 1.9Available sources of information
  10. 1.10Exercise: counterparty exposure map
  1. 2.1Structure of a reinsurer's balance sheet
  2. 2.2Technical provisions and their adequacy
  3. 2.3Own funds and quality of capital
  4. 2.4Technical and financial profitability
  5. 2.5Liquidity and asset-liability matching
  6. 2.6Catastrophe exposure
  7. 2.7Retrocession and dependency
  8. 2.8Geographic and line-of-business diversification
  9. 2.9Key indicators and how to read them
  10. 2.10Practice: analysis of financial statements
  1. 3.1Rating agencies and their methodology
  2. 3.2Critical reading of a rating
  3. 3.3Outlook and reviews
  4. 3.4Applicable solvency frameworks
  5. 3.5Equivalence of regimes
  6. 3.6Supervision of the reinsurance group
  7. 3.7Differences between jurisdictions
  8. 3.8Unauthorised reinsurers and collateral
  9. 3.9Alternative risk transfer vehicles
  10. 3.10Practice: comparing two reinsurers
  1. 4.1Counterparty policy and limits
  2. 4.2Diversification of the panel
  3. 4.3Deposits, letters of credit and collateral
  4. 4.4Termination clauses for deterioration
  5. 4.5Netting of balances
  6. 4.6Ongoing monitoring of counterparties
  7. 4.7Review triggers
  8. 4.8Plan for replacing a counterparty
  9. 4.9Coordination with the broker
  10. 4.10Practice: counterparty policy
  1. 5.1Register of exposures by counterparty
  2. 5.2Calculation of counterparty risk under solvency rules
  3. 5.3Internal and supervisory reporting
  4. 5.4Managing a default
  5. 5.5Claims and legal recourse
  6. 5.6Accounting effect of impairment
  7. 5.7Reinsurance committee and governance
  8. 5.8Documentation of decisions
  9. 5.9Monitoring indicators
  10. 5.10Practice: exposure report for the committee
  1. 6.1Choice of the cedant and its panel
  2. 6.2Exposure map by counterparty
  3. 6.3Financial analysis of two reinsurers
  4. 6.4Limits and diversification policy
  5. 6.5Proposed mitigation measures
  6. 6.6Monitoring plan and triggers
  7. 6.7Contingency plan for deterioration
  8. 6.8Indicators and reporting
  9. 6.9Analysis report
  10. 6.10Project defence
Methodology, software & labs

How you'll learn

Fully 100% online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. No fixed timetables: students progress at their own pace within the intake, which makes it possible to combine study with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is S&P Capital IQ, Bloomberg Terminal, R, advanced Excel, in free, academic or evaluation versions. Case studies are based on real procedures for financial analysis of listed reinsurers, calculation of counterparty risk and design of reinsurer security panels. Assessment is continuous across each module, plus the final integrative project.

Accreditable laboratories(EN ISO/IEC 17025) with a rotor test rig, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-oriented Master's Thesis:safety case, test plan, compliance dossier and operating limits.
Industry mentoring:lecturers with experience in training, , eVTOL/UAM and flight test.
Flexible delivery(hybrid/online), international cohorts and support from SEIUM Career Services.
Ethics and safety:a safety-by-design approach, with OT cyber, DIH and compliance as its pillars.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

Choice of the cedant and its panel

Explain counterparty risk in reinsurance programmes.

Exposure map by counterparty

Analyse financial statements and solvency reports of reinsurers.

Financial analysis of two reinsurers

Interpret credit ratings and prudential frameworks.

Limits and diversification policy

Calculate the effect of counterparty risk on capital.

Proposed mitigation measures

Design mitigation mechanisms such as collateral and deposits.

Career opportunities

Where this takes you

Reinsurance security analystReinsurance purchasing managerCounterparty risk managerInsurance rating analystRisk actuaryReinsurance broker
Admissions & scholarships

Requirements

  • No prior degree is required.
  • Internet connection and a computer capable of running the programme's software.
  • Sufficient command 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.

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FAQ

Frequently asked questions

The programme comprises 300 hours in total, spread over 3 to 5 months. That is an average of 10 to 15 hours per week, compatible with a full-time job.

You will work with S&P Capital IQ, Bloomberg Terminal, R and advanced Excel. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.

A SEIUM own diploma upon passing the continuous assessment and the integrative project. It is SEIUM's own training, not an official qualification from the Ministry.

Yes. Modules passed in a Course or Postgraduate Diploma in the same area are recognised in the higher-level programme. Check the recognition policy when you enrol.

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