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SEMINAR

26/27 Apr 2018 in Dublin

Loss Reserving in Property and Casualty

In property and casualty insurance, the provisions for payment obligations from losses that have occurred but have not yet been settled usually constitute the largest item on the liabilities side of a property and casualty insurer’s balance sheet. For this reason, the determination and evaluation of these technical provisions, which are also called loss reserves, is of considerable economic importance for every property and casualty insurer. Therefore, the application of actuarial methods of loss reserving is indispensable.

Under Solvency II the reserving risk becomes one of the mayor driver for solvency capital requirement in property and casualty insurance and therefore an adequate assessment of loss reserves and the underlying risk is a crucial issue not only under risk management aspects but also under a supervisory point of view.

This seminar on loss reserving will start with the basic aspects of actuarial loss reserving. Besides a broad introduction to traditional methods, it also deals with more recent ones and a discussion of certain problems occurring in actuarial practice, like inflation, scarce data, large claims, slow loss development, the use of market statistics, the need for simulation techniques, and last but not least, the task of calculating best estimates and ranges of future losses.

The seminar is based on the book “Handbook on Loss Reserving” which has been published in the EAA Series of Springer.

Organised by the EAA - European Actuarial Academy GmbH in cooperation with the Society of Actuaries in Ireland.

Participants

Every participant will receive a free copy of the “Handbook on Loss Reserving” on-site (value of 101.64 €).

This seminar is developed for non-life actuaries in property and casualty insurance but also for other persons working in the area of reserving i.e. as controllers, supervisors or auditors. A basic knowledge of non-life reserving techniques is necessary.

In advance of the seminar, participants are encouraged to address actual problems and send cases based on concrete practical questions, which can be dealt with in the course. A deadline for this part is at least six weeks before the seminar takes place.

Attendees are encouraged to bring a laptop computer with Microsoft Excel installed.

Purpose and Nature

The aim of this seminar is to provide participants with a deeper understanding of loss reserving methods and their application issues, which will be useful for the daily work in particular for those who are involved or responsible for loss reserving.

The seminar will alternate between the presentation of methodological concepts for loss reserving, practical examples and case studies in order to deepen the understanding of the different methods and their relevance in practical applications.

Language

The language of the seminar will be English.

Lecturers

Michiel van der Wardt
Michiel van der Wardt is a senior actuary and risk manager, with nearly 25 years working experience. As free lance actuarial risk manager, Michiel is providing actuarial and risk management services to insurance and reinsurance companies in Europe. Prior to his consulting work Michiel has been working as Principal insurance Risk Officer at ING, involved in compiling and challenging reserve adequacy analyses for all ING Non-Life insurance entities worldwide. During his time with ING, Michiel also acted as Chief insurance Risk Officer and Chief Actuary for ING Mexico for 2 years, in which period he has been involved in solving serious Reserve adequacy issues. Furthermore, he enjoys coaching actuarial analysts-to-be with their intermediate thesis, and also is examinator for the Dutch Institute of Actuaries. In addition, Michiel is vice chair of ASTIN Committee of the IAA and was chairman of the organising committee for the ASTIN colloquium in The Hague in 2013.

Participant Feedback

4.4 of 5 Points

Venue & Accommodation

The seminar will take place at the

Talbot Hotel Stillorgan
Stillorgan Road, Stillorgan
Co. Dublin, Ireland
Phone: +351 1 2001800
www.talbothotelstillorgan.com

We have arranged special prices for accommodation. The special rate is € 109.00 per night in a single room including breakfast and VAT. It is valid for bookings out of our allotment by 10 April 2018. Our allotment includes a limited number of rooms. Kindly book your accommodation directly with the hotel via their website and add the promo code "EAA2018" next to your travel dates (special rate applies only for 25 and 26 April). Please note the hotel’s cancellation policy.