An introductory course covering the essential aspects of reinsurance accounting.

Content
· The basic types (facultative & treaty) and methods (proportional and excess of loss) of reinsurance
· Proportional treaty accounting: elements of a quarterly balance of account; premium bases; earned and written premium; deductions from premium; sliding scale and profit commissions; reserves and interest; portfolios, internal and external; claims and expenses
· Excess of loss: premium, minimum and deposit and adjustments; original premium base; reinstatement premiums (free; pro rata to time or to amount etc.); claims and expenses, unl
· Introduction to Lloyd's accounting: three-year and one-year accounts; central settlement; role of X-changing
· "Principal to principal" accounting; offsets
· Gross and nett figures - effect of outwards reinsurance

Learning Outcomes
On completion of the course delegates will have a basic understanding of reinsurance technical accounting principles, how to draw up a proportional treaty account, dealing with excess of loss premiums and claims and the special characteristics of Lloyd's central accounting and settlement.

Intended Audience
The course will be appropriate for those who are newly working in a reinsurance accounting department or who have some knowledge of reinsurance principles and require a more detailed understanding of the operation of a reinsurance account.

Format
An interactive presentation including lecture and worked exercises.

Duration
One day.