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Diversification within Solvency II

  • 10th/11th May 2012 | Berlin / Germany
  • Diversification arises when an entity has exposure to multiple risks which are not perfectly correlated. It is one of the most important factors in the determination of the total capital requirement under risk based capital regimes such as Solvency II.

    In this seminar we will discuss the background and practical implications of diversification in the context of recent global developments. Several techniques for quantifying diversification and modelling of dependencies between risks will be covered.

    The second day is a hands-on programme in which delegates can put into practice various techniques for modelling of diversification with a direct link to Solvency II capital requirements.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=berlin2012/index

Stochastic Modeling - Theory and Reality from an Actuarial Perspective

  • 23th - 25th April 2012 | Madrid / Spain
  • As recently as the mid-1990s, most models used in financial analysis of insurance were deterministic. Based on sets of static parameters and assumptions, these models largely ignored random fluctuations that were likely to occur. Sensitivity analyses were performed but were generally limited to a fixed number of defined scenarios. This deterministic approach is rapidly being replaced by stochastic modeling that can better inform insurers on pricing, financial planning, and capital assessment strategies. Huge advancements in computing power have made it possible for actuaries and financial planners to better understand the increasingly complex risk profiles of insurers' evolving product design.

    This seminar is based on the book "Stochastic Modeling - Theory and Reality from an Actuarial Perspective (copyright C 2010 International Actuarial Association) which intends to provide actuaries with a comprehensive resource that details current stochastic methods, provides background on the stochastic technique as well as their advantages and disadvantages.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=madrid2012/index

EAA Webinar: Risk Aggregation in the Context of Solvency II

  • 20th April 2012 | 16-17 o'clock CEST
  • The webinar is suited for actuaries or actuarial trainees who are directly or indirectly involved in Solvency II work. The applications discussed in this webinar are mainly from life insurance. However, the methods presented are applicable to other insurance sectors as well.

    You don't have to leave your daily business to follow this webinar. Just make sure to log-in on time and you can follow this class right away!
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=webinar_01_2012/index

Own Risk & Solvency Assessment (in the Context of Solvency II)

  • Date: 28th/29th March 2012 | Vienna / Austria
  • Capital and Risk management has always been a key activity for both Life/Health and Property & Casualty (i.e. non-life) Insurance companies and Groups. The new risk based regulations under Solvency II lead to new and more formal challenges in this area: This includes a much more formal risk management approach and the need for conducting an "Own Risk & Solvency Assessment". In the last weeks and month the requirements for the ORSA have become much more transparent and it is the right time now for enhancing existing and setting up new processes and documentation around this.
  • Information and Registration

Moving towards Dynamic Pricing in Non-Life Insurance

  • Date: 8th/9th March 2012 | Brussels / Belgium
  • The seminar is suited for actuaries or actuarial trainees who are directly or indirectly involved in issues with regards to all aspects of the pricing process within PC insurance companies. The aim of the course is to show how the theoretical framework is constructed and how it is put into practice. Several case studies â€" to be solved by the participants in Excel - will prove the practical application. Participants will need their laptops for the workshops.
  • Information and Registration

Capturing Risks in Insurance Premiums

  • 12th/13th December 2011 | Ljubljana / Slovenia
  • The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in issues with regard to pricing of products and underwriting within insurance companies. The aim is to transfer knowledge and practice about different aspects of the pricing of products especially without gender differentiation. The research on unisex pricing in the German market will be presented. Special attention will be given to predictive modelling technique which can assist insurance companies in better identifying and segmenting insurance risks. This leads to improved underwriting, pricing and marketing decisions. The seminar will have many opportunities to gain practical experience with the pricing of products and predictive modeling application. The lecturers have prepared case studies using spreadsheets that are derived from business issues that came across in their daily practice. Participants are asked to bring their laptops to the seminar.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=ljubljana2011/index

Capital Management and ALM in the New (Solvency II) World

  • 1st / 2nd December 2011 | Dublin / Ireland
  • The seminar is suited for actuaries or actuarial trainees who are directly or indirectly involved in issues with regard to Capital and Risk Management and Asset Liability Management within life and PC insurance companies. The aim of the course is to show how the theoretical framework with concern to ALM is constructed and how it is put into practice. Several case studies - to be solved by the participants in Excel (complete version) - will prove the practical application. Participants will need their laptops for the assignments and cases.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=dublin2011/index

Internal Models in Solvency II

  • 26th - 28th October 2011 | Helsinki / Finland
  • The seminar is designed for actuaries and risk managers who are in charge of or involved in the development of Internal Models in an insurance company, in a supervisory authority or in audit or consultancy firms. It supports actuaries, risk managers and senior management in these interdisciplinary tasks:
    * Improve the understanding of the role and importance of Internal Models in the Solvency II-Process
    * Improve the understanding in how to use, calibrate and implement Internal Models
    * Improve the understanding in the underlying business processes in the entity
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=helsinki2011/index

Summer Seminar: Longevity Risk

Seminars: Reinsurance: A Strong Risk / Capital Instrument

  • 16th - 18th June 2011 | Copenhagen / Denmark
  • The seminar is suited for actuarial managers, actuaries or actuarial trainees in the direct insurance industry that are involved in Solvency II risk measurement, reporting or risk management. The purpose is to give theoretical background for reinsurance modeling, useful insights in the working of reinsurance markets, and hands-on experience with reinsurance modeling tools. A case study will be offered in which the use of a leading software tool (ReMetrica) will be practiced. We will inform you in due time whether participants should bring their own laptops to the seminar.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=copenhagen2011/index

Modeling - Theory and Reality from an Actuarial Perspective

  • Date: 26th - 27th May 2011 | Prague / Czech Republic
  • The seminar will cover a wide range of topics presented in the book "Stochastic Modeling - Theory and Reality from an Actuarial Perspective". The first day of the seminar will focus on life & health actuarial issues. The day will start with an introduction to stochastic modeling, including a practical discussion of when stochastic models are appropriate or necessary and when they may not be. The day continues with an in-depth discussion of the various techniques and models that are commonly used in stochastic projections. The lecturers will present stochastic models for interest rates, mortality, and morbidity, among other risk factors, and will demonstrate how these models can be developed, calibrated, implemented and reviewed. The first day will also involve a detailed case study (or case studies) illustrating the use of stochastic models in life and health business.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=prague2011/index

Solvency II: Calculations and Modelling

  • Date: 9th - 11th May 2011 | Cologne / Germany
  • The seminar is limited to 20 participants. This small group size ensures an efficient and comfortable working atmosphere. The reactions to the seminar "The Basics" were enthusiastic: On a scale 1=excellent to 5=insufficient, the participants rated the seminar with 1.43 and the speakers with 1.5! The speakers confirm this and state that in the seminar 'The Basics', the stage was set by discovering the basics of Solvency II. This applies as well to pillar one (quantitative requirements) as to pillar two and three. There was ample room for discussion between the participants and lecturers. The different background of all persons added to the flavour, and made the experience both from a professional and social point of view very pleasant. The seminars can be booked as a whole series or individually. The participation in the seminars "The Basics" and "Capital, Reporting and Governance" is not a prerequisite for the seminar "Calculations and Modelling". The seminar "Calculations and Modelling" is suited for professionals who are working in the insurance industry that are directly or indirectly involved in issues with regard to solvency issues, risk management and actuarial valuations. The course is especially suited for actuaries and risk managers involved with modelling solvency and risks. The focus of the course is on models and calculations.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=cologne2011_2/index

Embedded Value: More than just numbers?

  • Date: 5th - 7th May 2011 | Warsaw / Poland
  • The seminar is suited for actuaries or actuarial trainees who are directly or indirectly involved in tasks with regard to product development, valuation and controlling and last but not least accounting and reporting. The main objective of the seminar is to provide insight into the valuation concept of Embedded Value, starting from a Profit Testing point and moving to portfolio valuation. In addition to this the latest developments of this concept within the insurance industry and its implications in the recent developments in terms of financial reporting will be discussed.
    The courses will deal with the underlying concepts of Embedded Value. Following a general overview of the Embedded Value, the development of this concept will be discussed. After that the lecturers will step into the usage and applications of the Embedded Values in the financial sector. The participants will have many opportunities to discuss and gain practical experience with the Embedded Value concepts. The lecturers have prepared hands-on case studies (including the use of spreadsheets) that are derived from business issues that came across in their daily practice.
    Participants are advised to bring a laptop with Microsoft Excel installed.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&past=&seminar=warsaw2011/index

Capital, Reporting and Governance

  • Date: 5th - 7th April 2011 | Cologne / Germany
  • The seminar is limited to 20 participants. This small group size ensures an efficient and comfortable working atmosphere.

    The reactions to the seminar "The Basics" were enthusiastic: On a scale 1=excellent to 5=insufficient, the participants rated the seminar with 1.43 and the speakers with 1.5! The speakers confirm this and state that in the seminar 'The Basics', the stage was set by discovering the basics of Solvency II. This applies as well to pillar one (quantitative requirements) as to pillar two and three. There was ample room for discussion between the participants and lecturers. The different background of all persons added to the flavour, and made the experience both from a professional and social point of view very pleasant.

    The seminars can be booked as a whole series or individually. The participation in the seminar "The Basics" is not a prerequisite for the seminars "Capital, Reporting and Governance" and "Calculations and Modelling".

    The seminar "Capital, Reporting and Governance" is suited for professionals who are working in the insurance industry that are directly or indirectly involved in issues with regard to solvency issues, risk management, actuarial reporting and actuarial valuations. The focus of the course is on capital, reporting and governance. Accountants and other finance professionals that are interested in in-depth knowledge of Solvency II requirements are also welcome to attend.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=cologne2011_1/index

Internal Models in Solvency II

  • Date: 24th - 26th March 2011 | Rome / Italy
  • The seminar is designed for actuaries and risk managers who are in charge of or involved in the development of Internal Models in an insurance company, in a supervisory authority or in audit or consultancy firms. It supports actuaries, risk managers and senior management in these interdisciplinary tasks: * Improve the understanding of the role and importance of Internal Models in the Solvency II-Process * Improve the understanding in how to use, calibrate and implement Internal Models * Improve the understanding in the underlying business processes in the entity
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&past=&seminar=rome2011/index

IFRS – Accounting

ALM in the Context of an Efficient Risk Management

  • Date: 9th - 11th December 2010 | Brussels / Belgium
  • Institutions like insurance companies and pension funds face a world of severe competition in which return is of primary importance. However, return and risk always stick together. Risk is disliked and carefully looked at, not only by the institutions but also by the regulator. In order to meet the return requirements of the policyholders on the one hand and to stay in line with the solvency requirements of the regulator on the other hand an integrated approach in which both risk and return are taken into account is necessary. The outcome of this approach is a balanced policy in which return is attractive and risk is acceptable.

    Asset Liability Management (ALM) is the appropriate tool to design such a policy. It is a very central tool within an efficient risk management. One of the basic problems is how to quantify risk. Another problem is how to understand and interpret the result and explain them to management. The seminar wants to show the interaction between technical implementations of ALM and the use of these techniques in practice.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=brussels2010/index

Stochastic Methods of Claims Reserving

  • Date: 29th - 30th November 2010 | Zagreb / Croatia
  • The actuarial techniques of claims reserving are not only needed for the annual statement and internal profitability analyses but also for tariff calculations and risk modelling (Solvency II). Especially for discussions with auditors and rating agencies as well as for the construction of an internal risk model, a good understanding of the variability of the ultimate claims estimates is of high importance.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=zagreb2010_b/index

Stochastic Methods of Claims Reserving

  • Date: 25th - 26th November 2010 | Zagreb / Croatia
  • The actuarial techniques of claims reserving are not only needed for the annual statement and internal profitability analyses but also for tariff calculations and risk modelling (Solvency II). Especially for discussions with auditors and rating agencies as well as for the construction of an internal risk model, a good understanding of the variability of the ultimate claims estimates is of high importance.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=zagreb2010/index

EAA Webinar on IFRS – Accounting: Non-life stand-ready obligation

  • Date: 9th November 2010 | 10.00 – 12.00 o'clock a.m. CET
  • Valuation in the context of general purpose accounting is one of the key tasks of actuarial work. More and more companies have to be familiar not only with the national GAAP, but also with the requirements regarding IRFS. The “current” and “market-consistent” measurement integrates a lot of different actuarial techniques and tools that are used in the actuarial practice, i.e. stochastic modelling, margin techniques, data collection etc. This webinar will focus on the implementation of standard international accounting practices for the Non-life (re-)insurer from an actuarial perspective. Attention is paid to likely future requirements (based on the July 2010 draft) as these will change the way we go about the basic task of estimating non-life loss and expense reserves.
  • Further information and registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=webinar_02_2010/index

Market Consistent Valuation

  • Date: 21st - 23rd October, 2010 | Prague
  • The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in measuring risk, capital or value within insurance companies. A considerable part of the seminar will be conducted by hands on Excel based exercises performed by each participant. These exercises are first explaining the basic principles of market consistent techniques and then building up to examples explaining principles of economic capital and economic scenario generatation. As the seminar will start with the fundamental methodology, it is also suited for participants who are relatively new to this topic. The aim is to transfer knowledge and practice about market consistent valuation techniques and understanding its impact on results. The lecturers have prepared exercises using spreadsheets that are derived from case studies that came across in their daily practice.

    The key objectives of the workshop are to develop your understanding of:
    - Current environment with IFRS, Solvency II and MCEV,
    - The MCEV Principles ,
    - The techniques available,
    - The practical issues to be addressed, and
    - Challenges highlighted by the recent financial crises.

    The workshop will develop delegates understanding of the basic principles of market-consistent embedded values, the techniques available, and the practical issues which need to be addressed. The two and a half day will comprise a mix of brief presentations, hand on exercises and group discussions. The sessions will be interactive and involve some pre-course reading to ensure that participants have a certain minimum level of understanding to gain maximum benefit from the workshop.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&past=&seminar=prague2010/index

Solvency II: The Basics (Part I)

  • Date: 5th – 8th October 2010 | Cologne / Germany/li>
  • Solvency 2 is moving from the conceptual phase towards the implementation phase. As 2012 is approaching, it is time for actuaries and other financial staff to get prepared. The EAA recognizes that there is a widespread need for education that is suited for the people involved. The EAA has set up a course that will combine general background information on Solvency II with state-of-the-art calculation methods. The course consists of three modules. All three modules will take two or three consecutive days. The applicable language is English. Module 1: the basic knowledge of Solvency II for actuaries. Topics will be the background of Solvency II, the requirements related to governance, internal models, reporting, risk measurement and capital structure. Also the latest developments on the CEIOPS’ advices will be covered.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=cologne2010_1/index

Pricing of Products

  • Date: September 16th - 18th, 2010 | Budapest / Hungary
  • The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in issues with regard to pricing of products within insurance companies. The aim is to transfer knowledge and practice about different aspects of the pricing of products and how to manage in practice. The courses will deal with the economics of deregulated markets, with behaviour of consumers and their price elasticity’s, with the behaviour of competitors in different markets and of course with cost price calculation of insurance products in life as well as in non-life and price differentiation by risk groups. The seminar will have many opportunities to gain practical experience with the pricing of products. The lecturers have prepared case studies using spreadsheets that are derived from business issues that came across in their daily practice.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=budapest2010/index
  • Second Announcement

EAA Course : Enterprise Risk Management (ERM)

  • Part IV: Risk Management Concept & Tools June 17th to 19th, 2010 | Frankfurt/Main / Germany

organised by the European Actuarial Academy GmbH (EAA) with support from the Hessian Ministry of Economics, Transport, Urban and Regional Development

Enterprise Risk Management has become more and more important in the financial market. Actuarial education is already offering basic knowledge in risk management. This knowledge should be extended to a comprehensive risk management that integrates the economic background as well as the principal techniques used in risk management. In some jurisdictions special credentials have been defined to reflect the actuary’s evolution from understanding risk to active risk management in a broader sense. Due to the initiative of the Society of Actuaries (USA), the Chartered Enterprise Risk Analyst (CERA) designation is now applicable for actuaries all over the world. In order to foster this idea, fourteen Actuarial Associations all over the world recently signed a Global Recognition Treaty for CERA credentials responding to new defined international standards for ERM. This EAA Course on ERM provides education and examination based on these standards in addition to the existing actuarial education for fully qualified actuaries. The aim is to provide best practice for actuaries who want to take responsibility in the risk-based performance management and in CRO functions. This EAA Course on ERM will be offered for the first time in 2010 and will focus on practical knowledge needed in managing a comprehensive risk management.

Reserving Life / Non-Life

  • Date: 3rd - 5th June 2010 | Istanbul / Turkey
  • The objective of this course is to enable participants to judge and discuss reserve calculations, as well as to apply basic models themselves. Case studies with calculations in Excel will be carried out to apply and discuss what is learned. This course is to serve people working in areas related to actuaries’ and accountants’ work with a feeling for figures.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=istanbul2010/index

ALM in the Context of an Efficient Risk Management, Sofia, Bulgaria

  • Date: 27th - 29th May 2010 | Sofia / Bulgaria
  • The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in issues with regard to risk management and Asset Liability Management within insurance companies and pension funds. The aim of the course is to show how the theoretical framework with concern to ALM is constructed and how it is put into practice within an efficient risk management and solvency concept. Several case studies – to be solved by the participants in Excel (compete version) - will prove the practical application. You need your laptop for the assignments and cases.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=sofia2010/index

Actuarial Modelling, Vienna, Austria

  • Date: 6th - 8th May 2010 | Vienna, Austria
  • The course is based on the aspects of actuarial modelling that constitutes a prerequisite to become a fully qualified actuary in many European actuarial associations, taking into account the core syllabus of the International Actuarial Association. Starting with basic definitions and the classification of models as well as an introduction to the modelling process („Actuarial Control Cycle“), we move to a survey on the application of models in insurance. By examination of typical examples, we present the fundamental models used in life as well as in non-life insurance, and discuss their components, structure, functionality, application areas and relevance in an insurance company. Active participation in these discussions will be greatly appreciated. The course especially addresses itself to experienced practitioners who use models in practice. Basic knowledge of insurance mathematics is required. There is no need to bring a laptop.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=vienna2010/index
  • Second Announcement

Accounting & Control, Tallinn, Estonia

  • Date: 15th - 17th April 2010 | Tallinn, Estonia
  • Valuation in the context of general purpose accounting is one of the key tasks of actuarial work. More and more companies have to be familiar not only with the national GAAP, but also with the requirements regarding IRFS. The “current” and “market-consistent” measurement integrates a lot of different actuarial techniques and tools that are used in the actuarial practice, i.e. stochastic modelling, margin techniques, data collection, embedded derivatives, hedging methods etc.
    The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in issues with regard to accounting and actuarial valuations. The basic concepts of accounting are assumed to be known.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=tallinn2010/index

Product Management & Development for Insurance Companies

  • Date: 4th - 6th March 2010 | Hamburg, Germany
  • Product management is one of the most important – if not only – tool for insurance companies to develop and sustain winning strategies, as all national Markets are developing into highly competitive environments. Insurance companies need to have their development and management processes in place as time-to-market, development costs and product-launch success are becoming more and more important as indicators of their performance.
    The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in issues with regard to product development and product maintenance within insurance companies. The aim of the seminar is to share views, transfer knowledge and to practice about how product management and development for insurance companies is best implemented and practised. And very important, having fun doing so.
  • Information and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=hamburg2009/index
  • Second Announcement

EAA Webinar - Operational Risk Management

  • Date: 18th February 2010 10.00 – 11.00 o’clock CET

You don’t have to leave your daily business to follow this new webinar, developed for EAA. Just make sure to log-in on time and you can follow this class right away!

Information and Registration

Information (PDF)

Quantitative Risk Management

  • Date: 7th – 9th December 2009 | Prague / Czech Republic
  • The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in risk management issues. We will assume that participants are familiar with basic ideas in probability and statistics, at the level of a first university course in a quantitative discipline. However, we will always explain abstract ideas intuitively and illustrate them with examples that practitioners can relate to. The lecturers have prepared workshops and case studies The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in risk management issues. We will assume that participants are familiar with basic ideas in probability and statistics, at the level of a first university course in a quantitative discipline. However, we will always explain abstract ideas intuitively and illustrate them with examples that practitioners can relate to. The lecturers have prepared workshops and case studies
  • Informationen and Registration: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=prague2009/index

Enterprise Risk Management

  • Date: 19th–21st November 2009 | Lisbon / Portugal
  • In order to comply with the new requirements issued by regulators and rating agencies, many insurers have invested significant resources in ERM recently. The target of our seminar is not only to inform participants about the upcoming importance of Enterprise Risk Management within insurance companies, but also to provide practical guidance to effectively implement ERM in different areas. Participants will have many opportunities to gain practical experience with the economic capital concept.
  • Informationen und Anmeldung: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=lisbon2009/index

Internal Models in Solvency II

  • Date: 15th – 17th October 2009 | Dublin / Ireland
  • The seminar is designed for actuaries and risk managers who are in charge of or involved in the development of Internal Models in an insurance company, in a supervisory authority or in audit or consultancy firms. It supports actuaries, risk managers and senior management in these interdisciplinary tasks:
    Improve the understanding of the role and importance of Internal Models in the Solvency II-Process
    Improve the understanding in how to use, calibrate and implement Internal Models
    Improve the understanding in the underlying business processes in the entity
  • Informationen und Anmeldung: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=dublin2009/index

Seminars "Determining and Allocating of Capital"

  • Date: September 24th – 26th, 2009 | Vilnius, Lithuania
  • The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in issues with regard to risk and capital management within insurance companies. The aim of the seminar is to share views, transfer knowledge and to practice about how risk and capital management for insurance companies are best implemented and practised in a challenging and interesting way.
  • Informationen und Anmeldung: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=vilnius2009/index

Seminar "Productmanagement and Development for Insurance Companies"

  • Date: June 4th – 6th, 2009 | Zagreb / Croatia
  • The seminar will deal with the underlying concepts of Product Management. The aim of the seminar is to transfer knowledge and to practice about how product management and development for insurance companies is best implemented and practised. Included in the seminar are workshops and case studies for practical experience. This seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in issues with regard to product development and product maintenance within insurance companies.
  • Link: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=zagreb2009/index

Groupe Consultatif Actuariel Européen Summerschool 2009
Seminars: GC Summerschool Solvency II

  • Date: July 8th – 10th, 2009 | Utrecht / the Netherlands
  • After the training you will have a broader knowledge and understanding of Solvency II guidelines and the Quantitative Impact Study 4. Also your insight in the background theory and relevant risks will be improved. Moreover, your skills in calculation are further enhanced and you will be made aware of the common ground of Solvency II with other law and regulations (like IFRS4 phase 2, MCEV).
  • Link: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=utrecht2009/index

Valuation methods used in Life Insurance

  • Date: May 7th – 9th, 2009 | Bratislava, Slovakia
  • The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in issues with regard to embedded value, IFRS reporting and (economic) solvency requirements within insurance companies. The aim is to transfer knowledge, discuss the consequences of market consistent reporting standards for insurance companies in practice and gain practical insights by doing exercises. The lectures will at first deal with the theory of fair value reporting. Besides a short introduction to the underlying theory, participants of the seminar will have many opportunities to gain practical experience with the different valuation methods used in the Life Insurance business. The lecturers have prepared case studies using spreadsheets that are derived from business issues that came across in their daily practice.
  • Link: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&past=&seminar=bratislava2009/index

Seminar "Solvency II - Internal Models"

  • Date: April 2nd – 4th, 2009 | Munich / Germany
  • The role of the actuary in the process of implementing risk-based models to assess and manage the overall risk situation of an insurance undertaking will be more and more important, especially on the basis of the company specific risk profile (Internal Models). Regulators set rules for the use of (partial or full) internal models for the control of solvency capital and will ask explicit approval for any specific model. Hereby, the actuary participates in the building, testing and monitoring of appropriate models and descriptions of the risk situation by the internal model. The seminar is designed for actuaries and risk managers who are in charge of or involved in the development of Internal Models in an insurance company, in a supervisory authority or in audit or consultancy firms. It supports actuaries, risk managers and senior management in these interdisciplinary tasks:
    • Improve the understanding of the role and importance of Internal Models in the Solvency II-Process
    • Improve the understanding in how to use, calibrate and implement Internal Models
    • Improve the understanding in the underlying business processes in the entity
  • Link: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=munich2009/index

Seminar "Enterprise Risk Management"

  • Date: February 5th – 7th, 2009 | Riga / Latvia
  • The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in issues with regard to financial risk management and solvency within insurance companies. The aim is to transfer knowledge and practise about how economic capital for insurance companies is measured and managed in practice. The courses will at first deal with the underlying theory of economic capitals. Besides a short introduction to the underlying theory, participants of the seminar will have many opportunities to gain practical experience with the economic capital concept. The lecturers have prepared case studies using spreadsheets that are derived from business issues that came across in their daily practice.
  • Link: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=riga2009/index

Seminar "Reserving in Non-Life Insurance"

  • Date: November 6th – 8th, 2008 | Brussels / Belgium
  • The objective of this course is to enable participants to judge and discuss non-life reserve calculations, as well as to apply basic models themselves. For this purpose, the theory and practice of IBNR-reserving models will be taught in the context of the actuarial control cycle and the international accounting framework of IFRS and Solvency II. A case study with calculations in Excel will be carried out to apply and discuss what is learned. This course is to serve people working in the quantitative area of non-life insurance. Basic mathematical and statistical knowledge and a feeling for figures are required.
  • More Information: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=brussels2008/index

Seminar: "Pricing in General Insurance"

  • October 1st to 3rd, 2008 | St. Petersburg, Russia
  • Introduction: A competent pricing in general insurance is a very important function enabling a successful management of an insurance company. It is based on high-levelled statistic and stochastic actuarial knowledge, used in all types of general insurance, but differently with regard to various product lines. This seminar will focus on practical knowledge and actuarial techniques required for an efficient product development in non-life insurance.
  • More Information: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=petersburg2008/index

Seminar: "Reserving in Non-Life Insurance"

  • November 6th – 8th, 2008 | Brussels / Belgium
  • Introduction: Forecasting future claims development plays a major role in non-life insurance. This holds for pricing purposes as well as for reserving, where the IBNR-reserve of a company for not yet (fully) reported claims can grow to several times its yearly premium income. The calculation of IBNR-reserves is a careful process, because slight changes in model assumptions may have a huge impact on the resulting reserve. In the past decades, IBNR-models have evolved from simple calculation methods to advanced stochastic models which can capture reality better and better. In this seminar the process of IBNR-reserving will be pursued in a systematic way and at an introductory level. This will be done by taking into account the context of reserving, because it is not a stand-alone activity, it is a part of integral risk and capital management.
  • More information: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=brussels2008/index

Seminar "Solvency II: Regulations and Calculations"

  • Termin: 12./13. Juni 2008
  • Ort: Prag, Tschechien
  • Dozenten:
    Pieter Bouwknegt und Jeroen van Wageningen
  • Zielgruppe:
    Das Seminar richtet sich an Aktuare und Risikomanager in der Lebensversicherung und an alle Solvency-II-Interessenten.
  • Inhalt:
    Das neue risikobasierte und europaweit einheitliche Aufsichtsmodell Solvency II wirft bereits seit einiger Zeit seine Schatten voraus. Der Entwurf der Rahmenrichtlinie wurde im Sommer 2007 an das Europäische Parlament übergeben und soll im Herbst 2008 fertiggestellt werden. Diese neuen Rahmenbedingungen bedeuten große Veränderungen für alle Aktuare in den Ländern der EU. Sowohl Bewertungs- als auch Solvenzbedingungen werden im Vergleich zu den Solvency-I-Regularien grundlegend überarbeitet. Die konkreten Kalkulationsmethoden und damit verbunden die jeweilige Parameterauswahl sind noch nicht abschließend festgelegt, die kürzlich gestartete vierte quantitative Einflussstudie (QIS 4) soll eine weitere Verfeinerung des Gesamtmodells liefern. Das Seminar behandelt in vier je halbtägigen Einheiten unter anderem die folgenden Themen: Allgemeine Rahmenbedingungen, Marktrisiken, sonstige Risiken, Solvency-Bewertung
    Die Seminarsprache ist Englisch.
  • mehr Informationen und Anmeldung: http://www.actuarial-academy.com/index.php?page=seminars&sub=1&seminar=prague2008/index
  • oder als PDF: EAA_Seminar_Prag_2nd_Announcement.pdf

Seminar "Asset Liability Management for Insurance Companies and Pension Funds"

"QRM"

Seminar "Basics of Investments for Actuaries"

Seminar "Advanced Stochastic Concepts in Life and Pensions, the design of internal models & their application in the context of Solvency II"

EAA Grundausbildung zum Aktuar in Modulen / Education for Actuary

  • Beginn im August 2007 /Starting in August 2007

After the successful completion of the first EAA-modules, further modules are planned to start in August respectively in October:

  • module 3: Business Administration
  • module 4: Mathematics of Finance I
  • module 5: Financial Markets
  • module 9: General Insurance II
  • module 10: General Insurance III
  • module 12: Life Insurance I

In order to ensure quickly a planning reliability for our expert speakers, and to enable further plannings for follow-up modules, we offer the first 5 participants of each module an additional 25%-discount which will be deducted from the regular price. Register now and save twice with early-bird-price and special discount!

Seminar "Basics of Investments for Actuaries"

Die European Actuarial Academy, an der unsere Vereinigung beteiligt ist, veranstaltet im Juni 2007 wieder ein Seminar in englischer Sprache, dass sicherlich für die Mitglieder von Interesse ist:

Market Consistent Valuation of Life Insurance Liabilities

  • 18. - 20. Oktober 2006
  • Köln / Deutschland
  • Purpose:
    The purpose of the 3 day course is to provide participants with knowledge on:
    • Basics of market consistent valuation
    • Term structure of interest rates and fixed income products
    • Role of embedded options
    • Applications of market consistent valuation
    Also basic knowledge on option pricing and the valuation of derivatives and guarantees will be provided. However, the focus will be on insurance products, finance theory is only used to serve the purpose of insurance liability valuation.
  • first information about the international seminar in Cologne
    <<1st-Announcement-Cologne.pdf>>

organised by the European Actuarial Academy in co-operation with the Deutsche Aktuarvereinigung more Information
http://www.actuarial-academy.com/index.php?page=seminars&sub=2&seminar=cologne2006/index

EAA - European Actuarial Academy
eine Kooperation der Aktuarvereinigungen Österreichs, Deutschlands, der Niederlande und der Schweiz


Practical models in Solvency II framework

  • 18. - 20. September 2006
  • Tallinn/Estonia
  • Purpose:
    The seminar is suited for actuaries or actuarial trainees that are directly or indirectly involved in issues with regard to financial risk management and solvency within insurance companies. The aim is to transfer knowlegde and practise about the impact of implementing Solvency II in your organisation.

organised by the European Actuarial Academy in co-operation with the Estonian Society of Actuaries more Information
http://www.actuarial-academy.com/index.php?page=seminars&sub=2&seminar=tallinn2006/index

Economic Capital for Insurance Companies

Risk Management in the European Insurance Industry has experienced a revolution over the past years and will continue to do so in the future. Since actuaries are highly involved in risk management issues, they have to be thoroughly familiar with the concept of economic capital and its implications.

EAA-Seminar 5.-7. Oktober 2005 in Basel/Schweiz
Seminar 'Market Consistent Valuation of Life Insurance Liabilities'

Das Seminar wird von der EAA organisiert, steht allen unseren Mitgliedern (first come first served) offen und wird in englischer Sprache gehalten werden.

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