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CourseInsurance, Risk & Actuarial Data Applications open

Course in Retention Strategies in Reinsurance

Online 300-hour course in retention strategies in reinsurance. 6 modules covering Directive 2009/138/EC (Solvency II), Delegated Regulation (EU) 2015/35 (Solvency II implementation) and Igloo (WTW). 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

Understand retention as a strategic decision for the insurer.

02

Analyse the portfolio to determine retention capacity.

03

Apply techniques for optimising priorities, limits and contract types.

04

Assess the effect of reinsurance on solvency capital and IFRS 17 statements.

05

Negotiate reinsurance programmes and monitor them.

06

Integrate the retention policy into the ORSA.

07

Prepare an integrative project proposing an optimal retention.

Profile

Who it's for

  • Ceded reinsurance manager who wants to specialise in Retention Strategies in Reinsurance.
  • Reinsurance actuary who wants to specialise in Retention Strategies in Reinsurance.
  • Capital and solvency analyst who wants to specialise in Retention Strategies in Reinsurance.
  • Reinsurance broker who wants to specialise in Retention Strategies in Reinsurance.
  • Risk manager who wants to specialise in Retention Strategies in Reinsurance.
  • Reinsurance underwriter who wants to specialise in Retention Strategies in Reinsurance.
  • Graduates in engineering or sciences looking to enter reinsurance.
Standards & tools

What you'll work with

  • Directive 2009/138/EC (Solvency II)
  • Delegated Regulation (EU) 2015/35 (Solvency II implementation)
  • IFRS 17 (insurance contracts)
  • Law 20/2015 (LOSSEAR)
  • Royal Decree 1060/2015 (ROSSEAR)
  • EIOPA guidelines on the own risk and solvency assessment (ORSA)
Syllabus

6 modules · 300 h

  1. 1.1What retaining risk means
  2. 1.2Financial capacity and risk appetite
  3. 1.3Relationship between retention and reinsurance cost
  4. 1.4Earnings volatility and its tolerance
  5. 1.5Effect on required capital
  6. 1.6Horizon and market cycle
  7. 1.7Sector vocabulary and acronyms
  8. 1.8Common errors in setting retentions
  9. 1.9The board's role in the decision
  10. 1.10Exercise: analyse an entity's retention
  1. 2.1Distribution of sums insured
  2. 2.2Historical claims and their cleansing
  3. 2.3Large losses and their frequency
  4. 2.4Accumulations and catastrophe exposure
  5. 2.5Correlation between lines of business
  6. 2.6Expected growth and its effect
  7. 2.7Data quality and limitations
  8. 2.8Modelling the loss distribution
  9. 2.9Extreme scenarios
  10. 2.10Practice: analysis of a real portfolio
  1. 3.1Reinsurance cost curves
  2. 3.2Comparison of alternative structures
  3. 3.3Retention per risk and per event
  4. 3.4Reinstatements and their valuation
  5. 3.5Aggregate covers and their role
  6. 3.6Optimisation under capital constraints
  7. 3.7Risk measures used
  8. 3.8Sensitivity analysis
  9. 3.9Model limitations
  10. 3.10Practice: comparing structures for a portfolio
  1. 4.1Effect of reinsurance on required capital
  2. 4.2Counterparty risk and its consumption
  3. 4.3Economic versus regulatory capital
  4. 4.4Accounting effect of structures
  5. 4.5Risk transfer and its testing
  6. 4.6Financial structures and their limits
  7. 4.7Reporting to the supervisor
  8. 4.8Consistency with the risk policy
  9. 4.9Documenting the decision
  10. 4.10Practice: calculating the effect on capital
  1. 5.1Preparing information for the market
  2. 5.2Presenting the portfolio to reinsurers
  3. 5.3Negotiating terms and price
  4. 5.4The broker's role
  5. 5.5Placement and panel diversification
  6. 5.6Monitoring the programme during the year
  7. 5.7Review after significant claims
  8. 5.8Renewal and learning
  9. 5.9Programme performance indicators
  10. 5.10Practice: market presentation dossier
  1. 6.1Choice of portfolio and context
  2. 6.2Exposure analysis
  3. 6.3Loss modelling and scenarios
  4. 6.4Comparison of structures
  5. 6.5Justified retention decision
  6. 6.6Capital and solvency analysis
  7. 6.7Placement and negotiation plan
  8. 6.8Monitoring indicators
  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 timetable: students progress at their own pace within the intake, which makes it possible to combine it with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is Igloo (WTW), ReMetrica (Aon), R, advanced Excel, in free, academic or evaluation versions. The case studies cover real procedures for optimising priorities and contract limits, cost-of-capital versus reinsurance cost analysis, and retention scenario simulation. Assessment is continuous per module plus the final integrative project.

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

Understand retention as a strategic decision for the insurer.

Exposure analysis

Analyse the portfolio to determine retention capacity.

Loss modelling and scenarios

Apply techniques for optimising priorities, limits and contract types.

Comparison of structures

Assess the effect of reinsurance on solvency capital and IFRS 17 statements.

Justified retention decision

Negotiate reinsurance programmes and monitor them.

Career opportunities

Where this takes you

Ceded reinsurance managerReinsurance actuaryCapital and solvency analystReinsurance brokerRisk managerReinsurance underwriter
Admissions & scholarships

Requirements

  • No prior degree is required.
  • Internet connection and a computer capable of running the programme's software.
  • Sufficient level of Spanish to follow technical regulatory reading.

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

You work with Igloo (WTW), ReMetrica (Aon), R and advanced Excel. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.

An own diploma from SEIUM 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 recognised towards the higher programme. Check the recognition policy when you enrol.

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