Reinsurance

Highly informative and interactive course with effective case studies and exercises

Reinsurance

Two excellent courses to ensure you leave with a full and clear understanding of core reinsurance structures and approaches 27 – 31 October 2013 • Fairmont Hotel, Dubai, UAE

Course One

Proportional Reinsurance 27 – 28 October 2013

Course Two

Non-Proportional (X/L) Reinsurance 29 – 31 October 2013

By attending these two highly informative and interactive courses you will be able to gain: • An up-to-date view of reinsurance and its products and the current market place • The true cost of reinsurance and pricing techniques • A detailed understanding on how all the reinsurance products work and are used • The importance of understanding the meaning of words – as they do not always mean what they seem to mean Designed for complete flexibility. Attend either Course One or both courses combined for a complete reinsurance experience www.iirme.com/reinsurance Organised by:

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Meet Your Expert Course Director Peter Cave - BA (Hons) FCII Peter Cave is Senior Partner of The Confidence Partnership – a specialist training consultancy formed over fifteen years ago. Peter started his career in reinsurance in 1964 with a very substantial part spent as a reinsurance broker, later becoming director of one of the most prestigious specialist reinsurance brokers.

Course One

Proportional Reinsurance 27 – 28 October 2013 This two day course is particularly targeted at those who have some basic experience of reinsurance but who want to confirm, clarify and learn more about this very important area of reinsurance Course Two

Non-Proportional (X/L) Reinsurance 29 – 31 October 2013

He has worked extensively at a senior level with both small and/or new insurance/reinsurance operations and major international insurers and reinsurers. A substantial part of his career was spent working with clients in the Middle East. A highly experienced tutor, he has been running very successful courses for the Chartered Insurance Institute (CII), City University, Singapore College of Insurance and many other clients world-wide over a broad range of topics – specialising in reinsurance He has been: Chairman of an “Advanced study group” on proportional treaty reinsurance for the Insurance Institute of London, Director of the CII’s London Training Centre Author of the opening section of Reinsurance Practice and the Law (Informa).

Peter’s aim when running any course/seminar/workshop is to encourage attendees to make full use of his extensive experience, make the complex – easily understandable and the experience fun.

Who Should Attend?

The two courses are particularly targeted at those who will be actively involved in reinsurance whether in buying, selling or where a firm understanding of the varying reinsurance techniques is needed and how they interact.

Both courses would also be of great benefit to: Accountants, lawyers, regulators, training and development providers whose day to day work touches on the complexities of reinsurance.

This three day course is particularly targeted at those who have some basic experience of reinsurance but who want to confirm, clarify and learn more about this specific area of reinsurance as it grows in importance in the region.

Programme Overview As has been seen regularly over the years - 2010 and 2011 in particular, reinsurance is a very important part of the international risk transfer scene. With the continued growth in our region, correct technical reinsurance decisions will become of greater and greater importance.

Thus the need for professionals like you to have a clear understanding of the core products, their purposes, how they operate and how they are developing.

Are you and your colleagues confident that you understand: • The meaning behind the buzz words and terminology used by the experts?

• The impact of losses in recent years on reinsurance product design?

• Spill-over, aggregate limits, reverse 2 risk warranty etc?

• How the various reinsurance tools actually interact?

• The intent and operation of the major clauses in a reinsurance contract?

If you are struggling to get answers to any of the above questions, then your best chance is to attend the two Reinsurance courses.

Although both courses are intentionally “stand alone” – they are designed to operate equally well as an integrated whole – giving a really full view of reinsurance over the five day period.

Introduction

Would you like to run this course in-house?

The in-house training division of IIR Middle East Tel: +971 4 407 2624 • Email: CTS@iirme.com www.iirme.com/cts

+971 4 335 2437

+971 4 335 2438

Reinsurance (or Retrocession) is essential to the well being of virtually all insurers (and reinsurers). Yet, virtually no one outside of the business has heard of it – let alone how it works. These two courses will ensure that this is not the case for you. Both courses will start by looking at the basics of why reinsurance is critical and review each type, facultative, treaty, proportional, excess of loss. Then your trainer will move into the “nuts and bolts” – a review in detail with full explanations of what works where and why reinsurers prefer certain methods of reinsurance over others.

This course is designed not only to help you understand what reinsurance is, and how it operates but also its importance to organisations operating in the risk transfer market.

register@iirme.com

www.iirme.com/reinsurance

Reinsurance 27 – 31 October 2013 • Fairmont Hotel, Dubai, UAE

Course One

Course Two

Proportional Reinsurance

Non-Proportional (X/L) Reinsurance

27 – 28 October 2013

29 – 31 October 2013

Course Timings: Registration will be from 7:30 on the first day of the

Course Timings: Registration will be from 7:30 on the first day of the

course. Each day the course will commence promptly at 8:00 and conclude at 14:30 followed by lunch. Refreshments will be served at approximately 10:30 and 12:30

course. Each day the course will commence promptly at 8:00 and conclude at 14:30 followed by lunch. Refreshments will be served at approximately 10:30 and 12:30

Course Outline

Course Outline

Day One

Day One

Introduction/Refresher • Proportional treaties – how they function and interact - Quota share, surplus, facultative obligatory Proportional Facultative Reinsurance • How it should operate • Rate – OGR/ONR • Proportional treaty and Fac X/L (treaty compression) • Key clauses – cooperation / control • Proportional reinsurance – why is it bought ?– obvious and less obvious reasons – capacity, knowledge, solvency, protection and others

Introduction/Refresher • Non- proportional treaties – how they function and interact - Risk X/L, Cat X/L, stop loss, aggregate X/L – Risk cum Cat • Fac X/L, why, how it should be used, first taste of pricing (exposure rating) • Basis of attachment (LOD/RAD) and their implications

Day Two • • •

Definitions – risk, event, reverse 2 risk warranty Reinstatements – How they should be calculated Pricing methodologies (exposure, probability , burning cost)

Day Two •

• • • •

Day Three

Proportional reinsurance – why is it bought? – obvious and less obvious reasons (Continued) - Capacity, knowledge, solvency, protection Treaty balance – what and why is it so important?

Proportional treaty and the risk profile – how to use a risk profile in designing a proportional treaty The accounts processes (a briefing) Key proportional treaty clauses (a briefing)

+971 4 335 2437

+971 4 335 2438

• • • •

Pricing methods – continued Utilisation of a risk profile Key non-proportional treaty clauses Other forms of non-proportional treaty covers e.g. Cat aggregate X/L, drop down cover

register@iirme.com

www.iirme.com/reinsurance

Course One

Course Two

Proportional Reinsurance

Non-Proportional (X/L) Reinsurance

27 – 28 October 2013

29 – 31 October 2013

FIVE WAYS TO REGISTER IIR Holdings Ltd. P.O Box 9428 Dubai, UAE

+971 4 335 2437 +971 4 335 2438 register@iirme.com

www.iirme.com/reinsurance

DISCOUNTS AVAILABLE FOR 2 OR MORE PEOPLE CALL – +971 4 335 2483 E-MAIL – a.watts@iirme.com Event (BC5143)

Date

WEB BC5143

Course Fee Before 11 August 2013

Course Fee Before 1 September 2013

Final Fee

Entire Event (5 Days)

27 – 31 October 2013

US$ 4,150

US$ 4,650

US$ 4,950

Course One (2 Days)

27 – 28 October 2013

US$ 2,395

US$ 2,595

US$ 2,695

Course Two (3 Days)

29 – 31 October 2013

US$ 3,095

US$ 3,395

US$ 3,495

WOULD YOU LIKE TO RUN THIS COURSE INͳHOUSE?

Course fees include documentation, luncheon and refreshments. Delegates who attend all sessions will receive a Certificate of Attendance.

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DELEGATE DETAILS

All registrations are subject to our terms and conditions which are available at www.iirme.com/terms. Please read them as they include important information. By submitting your registration you agree to be bound by the terms and conditions in full.

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Payments A confirmation letter and invoice will be sent upon receipt of your registration. Please note that full payment must be received prior to the event. Only those delegates whose fees have been paid in full will be admitted to the event. You can pay by company cheques or bankers draft in Dirhams or US$. Please note that all US$ cheques and drafts should be drawn on a New York bank and an extra amount of US$ 6 per payment should be added to cover bank clearing charges. In any event payment must be received not later than 48 hours before the Event. Entry to the Event may be refused if payment in full is not received.

Credit card payment If you would like to pay by credit card, please tick here and a member of our team will contact you to take the details

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Cancellation

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If you are unable to attend, a substitute delegate will be welcome in your place. Registrations cancelled more than 7 days before the Event are subject to a $200 administration charge.

Registration fees for registrations cancelled 7 days or less before the Event must be paid in full. Substitutions are welcome at any time.

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No. of employees on your site: 1000+ 500-999 250-499

50-249

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Avoid Visa Delays - Book Now Delegates requiring visas should contact the hotel they wish to stay at directly, as soon as possible.

Visas for non-GCC nationals may take several weeks to process.

All registrations are subject to acceptance by IIR which will be confirmed to you in writing.

Due to unforeseen circumstances, the programme may change and IIR reserves the right to alter the venue and/or speakers.

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Fairmont Hotel, Dubai, UAE Tel: +971 4 332 5555 Accommodation Details We highly recommend you secure your room reservation at the earliest to avoid last minute inconvenience. You can contact the IIR Hospitality Desk for assistance on: Tel: +971 4 407 2693 Fax: +971 4 407 2517 Email: hospitality@iirme.com © Copyright I.I.R. HOLDINGS B.V.

MS/ST FN18 Insurance

LR

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