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CourseAutomotive & Motorsport Enrolment open

Retrocession and Risk Transfer Course

Online 300-hour course in retrocession and risk transfer. 6 modules covering Directive 2009/138/EC (Solvency II), Delegated Regulation (EU) 2015/35 (risk-mitigation techniques and counterparty risk) and Verisk Touchstone. Assigned tutor and open enrolment.

Duration300 h
ModeHybrid
LanguageEnglish / Spanish
Start datesOctober / March
LocationEurope (Madrid)
AwardSEIUM Institute diploma
Enrol now View syllabus Ask an advisor
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Run a real engineering trade-off from this programme. Move the sliders, watch the model react in real time and beat the challenge.

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Learning outcomes

What you will be able to do

01

Explain the role of retrocession in a reinsurer's risk management.

02

Compare proportional, excess-of-loss and stop-loss structures in retrocession.

03

Identify and control accumulations and spiral risks.

04

Assess the solvency of counterparties and collateral securities.

05

Analyse alternatives such as catastrophe bonds and collateralised reinsurance.

06

Quantify the effect of retrocession on capital and results.

07

Design a retrocession programme for a specific portfolio.

Profile

Who it's for

  • Retrocession manager wishing to specialise in retrocession and risk transfer.
  • Catastrophe accumulation analyst wishing to specialise in retrocession and risk transfer.
  • Reinsurance actuary wishing to specialise in retrocession and risk transfer.
  • Reinsurance broker wishing to specialise in retrocession and risk transfer.
  • Counterparty risk analyst wishing to specialise in retrocession and risk transfer.
  • Alternative risk transfer structurer wishing to specialise in retrocession and risk transfer.
  • Engineering or science graduates seeking to enter reinsurers.
Standards & tools

What you'll work with

  • Directive 2009/138/EC (Solvency II)
  • Delegated Regulation (EU) 2015/35 (risk-mitigation techniques and counterparty risk)
  • IAIS Insurance Core Principles, ICP 13
  • IFRS 17 (reinsurance contracts held)
  • Principles of Reinsurance Contract Law (PRICL)
  • EIOPA Guidelines on the Own Risk and Solvency Assessment (ORSA)
Syllabus

6 modules · 300 h

  1. 1.1Why a reinsurer cedes risk
  2. 1.2Capacity, capital and stability
  3. 1.3Actors in the retrocession chain
  4. 1.4Spiral risk and its origin
  5. 1.5Transparency of the chain
  6. 1.6Markets and available capacity
  7. 1.7Sector vocabulary and acronyms
  8. 1.8Lessons from past crises
  9. 1.9Relationship with the capital markets
  10. 1.10Exercise: tracing the chain of a risk
  1. 2.1Proportional and non-proportional
  2. 2.2Catastrophe retro covers
  3. 2.3Protection of the aggregate portfolio
  4. 2.4Collateralised covers
  5. 2.5Quota shares with investors
  6. 2.6Event and risk covers
  7. 2.7Reinstatements and their cost
  8. 2.8Combination with capital instruments
  9. 2.9Criteria for choosing the structure
  10. 2.10Practice: designing a retrocession programme
  1. 3.1Aggregation of exposures by zone
  2. 3.2Double-cover risk for the same event
  3. 3.3Spiral and its prevention
  4. 3.4Accumulation control systems
  5. 3.5Quality of exposure data
  6. 3.6Portfolio-level catastrophe modelling
  7. 3.7Stress scenarios
  8. 3.8Internal limits by zone and event
  9. 3.9Internal accumulation reporting
  10. 3.10Practice: accumulation analysis of a portfolio
  1. 4.1Specific retrocession clauses
  2. 4.2Definition of event and of time
  3. 4.3Sanctions and exclusion clauses
  4. 4.4Credit risk of retrocessionaires
  5. 4.5Collateral and guarantees
  6. 4.6Transparency across the chain
  7. 4.7Arbitration and governing law
  8. 4.8Documentation and its control
  9. 4.9Panel management
  10. 4.10Practice: reviewing a set of clauses
  1. 5.1Effect on the reinsurer's capital
  2. 5.2Risk transfer test
  3. 5.3Accounting treatment
  4. 5.4Reporting to the supervisor and the market
  5. 5.5Managing a major event
  6. 5.6Recoveries and their effective collection
  7. 5.7Programme indicators
  8. 5.8Renewal and negotiation
  9. 5.9Governance of decisions
  10. 5.10Practice: retrocession report to the committee
  1. 6.1Selecting the reinsurer's portfolio
  2. 6.2Accumulation analysis
  3. 6.3Designing the retrocession programme
  4. 6.4Selecting counterparties and guarantees
  5. 6.5Capital and transfer analysis
  6. 6.6Accumulation control plan
  7. 6.7Indicators and reporting
  8. 6.8Renewal plan
  9. 6.9Programme report
  10. 6.10Defence of the project
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 Verisk Touchstone, Moody’s RMS RiskLink, Oasis LMF, advanced Excel, R, in free, academic or evaluation versions. Case studies use real procedures for modelling accumulations in a reinsurance portfolio and comparing retrocession structures. Assessment is continuous by 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-focused Master's Thesis:safety case, test plan, compliance dossier and operational limits.
Industry mentoring:lecturers with careers in training, , eVTOL/UAM and flight test.
Flexible format(hybrid/online), international cohorts and support from SEIUM Career Services.
Ethics and safety:a safety-by-design approach, cyber-OT, 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.

Selecting the reinsurer's portfolio

Explain the role of retrocession in a reinsurer's risk management.

Accumulation analysis

Compare proportional, excess-of-loss and stop-loss structures in retrocession.

Designing the retrocession programme

Identify and control accumulations and spiral risks.

Selecting counterparties and guarantees

Assess the solvency of counterparties and collateral securities.

Capital and transfer analysis

Analyse alternatives such as catastrophe bonds and collateralised reinsurance.

Career opportunities

Where this takes you

Retrocession managerCatastrophe accumulation analystReinsurance actuaryReinsurance brokerCounterparty risk analystAlternative risk transfer structurer
Admissions & scholarships

Requirements

  • No prior degree is required.
  • Internet connection and a computer capable of running the programme's software.
  • A level of Spanish sufficient 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.

Apply now Scholarships
FAQ

Frequently asked questions

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

The course works with Verisk Touchstone, Moody’s RMS RiskLink, Oasis LMF, advanced Excel and R. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.

An own-award diploma from SEIUM Institute upon passing the continuous assessment and the integrative project. It is in-house training, not an official degree issued by the Ministry.

Yes. Modules passed in a course or postgraduate diploma in the same area are credited towards the advanced programme. Check the recognition policy when you enrol.

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