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Insurance Industry Modeling-Wall Street Prep

September 16, 2023 - September 17, 2023

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Cvent Transition Guide ⭢

Presented by Wall Street Prep, master insurance industry financial  modeling in this 2-day intensive virtual boot camp

Overview

The unique regulatory framework, accounting and business model of insurance companies create challenges in the areas of financial statement analysis, forecasting and valuation. This intensive 2-day course is designed to equip professionals engaged in the analysis of insurance firms with the practical financial skill set they need on the job. We will analyze the financial statements of both P&C and life insurers and then build a forecast and valuation model for a real-life P&C insurance company

CFANY.org: $1599

Standard Rate: $1999

Agenda

Please note: Each daily session goes from 900 AM – 5:00 PM EST

Topic 1 | INDUSTRY ANALYSIS

  • Insurance sector overview
  • P&C and life insurance overview
  • Size, structure and key players
  • Personal vs. commercial vs. specialty lines
  • Multi-line Insurance
  • Mutual insurance companies
  • Operating model & structure
  • Key drivers
  • Risks and regulation
  • Dual accounting- GAAP vs. Statutory
  • Key terminology

      Topic 2 | FINANCIAL STATEMENT ANALYSIS

      • Income statement analysis
      • Loss ratios, expense ratios and combined ratios
      • Premiums & UPR analysis
      • Balance sheet analysis
      • DAC roll-forward
      • Reserving process and reserves analysis
      • Investment portfolio analysis
      • Accounting for life insurance
      • Accounting for annuities
      • Financial leverage analysis
      • Accounting for reinsurance
      • Analyzing P&C and Life insurer’s 10-Ks and financial supplements
      • Analysis of statutory financials (including key schedules)
      • Risk-based capital ratios
      • Identifiable Intangibles (VOBA, VODA etc.)

      Topic 3 | CASE STUDY: MODELING

      • Creating an integrated financial statement forecast model for a P&C insurer
      • Analysis of historical income statement and key drivers
      • Forecasting NPW, NPE & UPR
      • Forecasting Loss and LAE ratios
      • Analysis of historical balance sheet and key drivers
      • Forecasting of loss reserves and reserve development
      • Forecasting investments and yield
      • Incorporating regulatory dividend constraints
      • Incorporating operating leverage constraints
      • Estimating statutory dividends

      Topic 4 | CASE STUDY: VALUATION

      • Analysis of valuation frameworks & drivers
      • Comparable valuation methodologies
      • Intrinsic valuation approaches
      • Creating a dividend discount model step-by-step
      • Estimating cost of equity using CAPM
      • Estimating terminal value

      Online | PRE-SEMINAR EXCEL TRAINING

      This boot camp assumes proficiency in Excel. Enrollment includes access to our popular Excel Crash Course for those who need an Excel refresher.

      Boot Camp Details

      • Build an Insurance Company forecast model
      • Understand the challenges with insurance industry valuation
      • Includes Excel Financial Institution model templates

      Virtual training runs daily from 9:00 am to 5:00 pm. The day will be filled with interactive exercises as learners move back and forth between classroom lecture, small group breakout rooms, competitions and 1-on-1 interaction.

      Who is this boot camp for?

      • FIG Investment Bankers
      • Investment professionals & asset managers focused on the Insurance sector
      • Corporate Development and FP&A professionals in Insurance
      • Valuation & Corporate Finance consultants focused on Insurance
      • Students targeting jobs that require an understanding of the Insurance sector
      • Anyone wanting to the learn/refresh skill sets in Insurance analysis and valuation

      Prerequisites

      This seminar presumes knowledge of financial accounting (at least 1 semester or equivalent). Participants without this background should enroll in and complete the Accounting Crash Course prior to attending the seminar.

      CPE Credit
      Earn 18 CPE Credits for this Seminar

      CPE logoWall Street Prep is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

      Cancellation Policy

      Participants may cancel up to 3 weeks prior to the event for a full refund. A 20% cancellation fee will apply up to 1 week prior to the event. No refunds will be granted for cancellations made within 1 week of the event. Wall Street Prep reserves the right to cancel the seminar if enrollment is insufficient. Trainees will be refunded in full in the event of a cancellation.

      Sponsorship Overview

      For over 80 years, CFA Society New York—formerly known as New York Society of Security Analysts (NYSSA)—has been a leading forum for the exchange of information among investment professionals. Our mission is to raise standards of practice in the industry for the ultimate benefit of society. Towards that goal, CFA Society New York content is curated by volunteer practitioner interest groups that strive to shape the future of the industry. A bold line exists between the financial support by organizations to maintain the quality of our programming and the selection of speakers who contribute to dialogue in our community. To that end, a ceaseless commitment to transparency is something we consider foundational to our cause.

      Please be advised of the following information related to Society sponsorship and support:

      Through financial support and other means of in-kind support, each event sponsor, event partner, event co-host and organizational partner of CFA Society New York plays a valuable role in the furtherance of the range of forward-thinking initiatives that underpin the Society’s values, and toward our mission to deliver Society content and programming of the highest quality and standard.

      CFA Society New York thanks all of its sponsors, event-related affiliates and organizational partners for helping us continue to shape the conversation of the investment community.

      Legal Notice and Disclaimer

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      Inclement weather

      CFANY reserves the right to cancel or reschedule all in-person events within 48 hours when inclement weather has been forecasted and travel is restricted by city officials.  The program may also be produced solely via livestream in such circumstances.  Please note the cancellation policy regarding refunds and substitutions.

      Refunds, Cancellations, and Substitutions

      • 72 HOURS ADVANCED NOTICE OR MORE:
        • Full refund issued
      • WITHIN 48 HOURS OR AFTER EVENT HAS STARTED:
        • No refund

      All requests for cancellation or refunds must be sent to seminars@cfany.org.

      More

      CFA Society New York, Inc. (“CFA NY”) is not a Registered Investment Advisor, Broker/Dealer, Financial Analyst, Financial Bank, Securities Broker, or Financial Planner. While CFA NY seeks to present accurate and reliable information, CFA Society New York does not endorse, approve, or certify such information, nor does it warrant or guarantee the accuracy, completeness, efficacy, timeliness, or fitness of such information for any particular purpose. Information presented may or may not be current as of the date of the presentation, and CFA Society New York has no duty to update and maintain the information, reports, or statements made during events.

      The information presented is provided for information purposes only, and is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice, is general in nature, and is not specific to you.

      None of the information presented is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or fund.