The New Insurance Performance Metrics (in Gaap, Solvency 2 & IFRS)

Introduction & Programme

Due to the inversion of the production cycle, the insurance business is very different from other traditional industries. Understanding, measuring and managing the performance of insurance companies is difficult due to the specific risks insurance companies must cover. It is therefore essential that you, as an employee of the insurance sector, understand how your company operates, how its activity is measured via the balance sheet and the income statement, which main regulations influence this measure, which indicators are used to assess the performance and what levers can improve this performance.

The aim of this web session is to:

• Understand how to read an insurance balance sheet (with a focus on technical provisions and own funds)
• Be able to read an income statement (P&L) across regulatory frameworks
• Compute relevant Key Performance Indicators (KPIs)
• Understand the impact of risk mitigation (reinsurance) and Assets and Liabilities Management (ALM) on the KPIs

We will cover life as well as non-life insurance. Health insurance will not be specifically covered.

Preliminary Programme
Monday, 22 June 2026
09:00-11:30 Provisioning and frameworks (incl. break of 15 min.)

Tuesday, 23 June 2026
09:00-11:30 Valuation: Balance Sheet and P&L (incl. break of 15 min.)

Thursday, 25 June 2026
09:00-11:30 Performance metrics (incl. break of 15 min.)

Friday, 26 June 2026
09:00-11:30 Performance levers (incl. break of 15 min.)

All the above times are given in CEST (Central European Summer Time).

Learning Objectives & Approach

The seminar will alternate between methodological concepts, practical examples and case studies to ensure a comprehensive understanding of the techniques presented.

The instructor-led sessions will take place over 4 sessions of 2h30.

The participants will be requested to look at 5 e-learning capsules (of around 30 minutes each) covering the following topics:

• Economic principles of insurance
• Financial mathematics for insurers
• Main activities of an insurance company
• Insurance products (life and non-life)

The e-learning capsules contain pedagogical presentations of the concepts with examples. They can be followed by the participants whenever they want, best before the sessions, as prerequisites.

Another series of 9 optional e-learning capsules will be made available to those who wish to review afterwards.

The training will include case studies in Excel, which participants will actively work on.

Examples in e-learning capsules and case studies will be based on our experience with Belgian companies but are not specific to Belgium and are rather applicable to most European countries.

Participants

This training course is particularly suited to people who are active in the insurance sector but are not experts in finance and want to understand the figures published by insurance companies. Three frameworks will be addressed: the regulatory framework (GAAP), Solvency II, and IFRS.

This training course is not intended for people wishing to acquire in-depth expertise on the topics presented. Its purpose is to enable everyone to better understand the concepts behind KPIs and subsequently interpret them more effectively.

Technical Requirements
Please check with your IT department if your firewall and computer settings support web session participation (the programme Zoom will be used for this online training). Please also make sure to join the web session with a stable internet connection.

Lecturers

Aurélie Miller (Reacfin)
Aurélie is a director at Reacfin who heads our Center of Excellence for Life, Health & Pension. She holds a Master of Business Engineer (Magna Cum Laude) from the Solvay Business School of the University of Brussels and a Master in Actuarial Science (Magna Cum Laude) from the University of Louvain. In 2006, she won thesis price of the Institute of Actuaries in Belgium (“IA|BE”). In 2007 Aurélie was finalist of the SCOR Award 2007 for best research work in actuarial science. She worked as a PhD student in actuarial science at the University of Louvain and as an assistant in Mathematics at the University of Brussels. Before joining Reacfin, Aurélie worked for 4 years as head of Non-Life Assets & Liabilities Modeling and Risk Management for Generali in Belgium. As such she was responsible for the development of a Non-Life ALM model and for the Solvency II project (economic capital calculation, value calculation, validations activities). She was also involved in other projects such as the improvement of the Life ALM tool and in the creation of a business plan for online sales.
Aurélie is a qualified actuary of the Institute of Actuaries in Belgium (IA|BE).

Natacha Brouhns (Reacfin)
Natacha is a Managing Partner of Reacfin. She holds multiple degrees including a PhD. in Actuarial Science, MSc Actuarial Science (Magna Cum Laude), MSc. Electro-technical Civil Engineer (Magna Cum Laude), Postgraduate in Statistics (Summa Cum Laude) as well as a degree in Philosophy. Natacha is the author of several publications in actuarial science both for Life and Non-Life topics. Natacha has gained deep experience in Life and Non-Life insurance industry as a modeler and validator. She has developed several ALM models for Life insurance companies and has therefore mastery as much on the liability side as on the asset side of the balance sheet. She is coordinating all learning activities at Reacfin. Natacha is a qualified actuary of the IA|BE.

Elena Atienza y Rubio (Reacfin)
Elena is a consultant at Reacfin in the Center of Excellence for Life, Health & Pension. She holds a master’s degree in mathematics (focused on research) and a master’s degree in actuarial sciences.
Elena joined Reacfin in September 2017. She is currently a manager and mainly involved in IFRS 17 and Health Insurance missions as well as in support projects for the Actuarial Function and trainings for Reacfin Academy. She is a qualified actuary of the IA|BE where she holds the position of member of the Actuarial Function working group.
Furthermore, Elena co-writes the regulatory watch published every month by Reacfin which monitors and summarizes the key developments in financial and insurance-related regulations in the European Union.

Language & CPD Credits

The language of the web session will be English.

CPD Credits
For this web session, the following CPD credits are available under the CPD scheme of the relevant national actuarial association:

• Austria: 9 points
• Belgium:  9 points
• Bulgaria:  20 points
• Croatia: individual accreditation
• Czechia:  9 hours
• Denmark 8 credits
• Estonia:  9 hours
• Finland: 6.5 points
• France:  48 points
• Germany:  8 hours
• Greece: 12 points
• Hungary:  9 hours
• Iceland: 9 credits
• Ireland: 9 hours
• Italy: individual accreditation
• Latvia: 9 hours
• Lithuania: 9 hours
• Netherlands:  approx. 9 points (individual accreditation)
• Norway: 9 points
• Poland: 9 hours
• Portugal: 9 hours
• Serbia: 5 hours
• Slovakia:  individual accreditation
• Slovenia:  individual accreditation
• Spain: CAC: 9 hours, IAE: 9 hours
• Switzerland:  individual accreditation
• USA: SOA (Section B): up to 10.8 hours

No responsibility is taken for the accuracy of this information.

Fees & Registration Details

Early Bird Registration Fee (until 11 May 2026):

• For private customers in the EU: €720.00 + VAT of the billing country (example Germany: €856.80 incl. 19% VAT)
• For private customers outside the EU: €856.80 (incl. 19% VAT)
• For businesses within the EU (excl. Germany, with valid VAT ID): €720.00 (net, reverse charge applies)
• For businesses in Germany: €856.80 (incl. 19% VAT)

Regular Registration Fee (from 12 May 2026):

• For private customers in the EU: €945.00 + VAT of the billing country (example Germany: €1,124.55 incl. 19% VAT)
• For private customers outside the EU: €1,124.55 (incl. 19% VAT)
• For businesses within the EU (excl. Germany, with valid VAT ID): €945.00 (net, reverse charge applies)
• For businesses in Germany: €1,124.55 (incl. 19% VAT)

Important VAT Information:

• For private customers with a billing address in an EU country: VAT will be charged at the applicable rate in the country of the billing address. The final amount, including VAT, will be calculated upon invoicing.
• For customers with a non-EU (third country) billing address: Only a non-company billing address is accepted for VAT compliance reasons. 19% VAT applies to all non-EU private customers.
• For businesses within the EU (excluding Germany), Iceland, Liechtenstein, Norway, Switzerland, and the UK with a valid VAT ID: The reverse charge mechanism applies (net price; VAT will not be charged). Please ensure your valid VAT ID is entered correctly during registration.
• For all customers with a billing address in Germany: 19% VAT applies.

Please submit your registration using our online form. Closer to the event, you will receive further login details to join the web session.

Your registration is binding. Cancellation is only possible up to 2 weeks before the first day of the event. If you cancel later, the full participation fee is due. You may appoint someone to take your place but must notify us in advance. EAA has the right to cancel the event if the minimum number of participants is not reached.

We will send you an invoice via email. Please allow a few days for handling. Please always give your invoice number when you effect payment. All bank charges are to be borne by the participant.

Registration is open until two working days before the web session. If registration has already been closed for this web session, please call us or send an email to contact@actuarial-academy.com in order to find out whether a late registration is still possible.