Basic Reinsurance Concepts Course

[Part 1: Concepts]

Introduces the crucial role played by insurance companies in society – ensuring financial stability, promoting trade and commerce and enabling sustainable economic growth and development. It will also explain how Reinsurance supports insurance companies by helping them to spread out their risk exposures at the same time helping them to diversify and grow.

[Part 2: Practices]

Explains the operation of different types of Reinsurance arrangements. This will be illustrated through examples of how risk, premiums and claims are shared between insurance and reinsurance companies with hypothetical calculations and numbers.

By the end of this half-day course, participants will have acquired a good understanding of the function and importance of different types of reinsurance arrangements and their application in different situations.

(Re)insurance industry practitioners who are work in non-technical functional areas, such as communications, finance, general administration, human resource, secretarial, etc., and who may be interested to learn more about the industry they are working in. May also be suitable as an orientation course for new entrants to the industry.

Mr Shiva Iyer, Executive Director, Aon

Shiva has over 35 years of experience in the reinsurance industry both in India and in Singapore. His expertise spans almost all areas of the reinsurance business, namely underwriting; claims; accounting; reporting; compliance and general operations of a reinsurance company.

Currently, he is Executive Director in the Technical Advisory Services department of Aon’s Reinsurance Solutions, Singapore, which provides guidance and advice on all aspects of reinsurance within the ASEAN region; Korea and the Indian sub-continent.

Shiva has a Master’s degree in Commerce from the University of Bombay and is a Fellow of the Insurance Institute of India.

8.30am – 9.00am Registration

9.05am – 10.35am Part 1 - Concepts

• What is Insurance?

• What is Reinsurance and why is it needed?

• Historical Development

• The Reinsurance Market

• Sharing of Risks – Coinsurance and Reinsurance

10.35am – 10.45am Short Break

10.45am – 12.15pm Part 2 - Practices

• Facultative Reinsurance

• Treaty Reinsurance

• Proportional and Non-Proportional Reinsurance

• Key Terms and their meanings

• Key Job Roles in Reinsurance

• Contract Documentation

• Life Cycle of a Reinsurance Contract

12.15pm - 12.30pm Q & A

For inquiries or more information, please contact the SRA Secretariat team at [email protected].

By participating in the event, you consent to photography, audio recording, video recording and its release, publication, exhibition, or reproduction to be used for promotional purposes, advertising and inclusion or websites, social media or any other purpose by SRA.

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Event Venue & Nearby Stays

Singapore Business Federation, 160 Robinson Road, Singapore, Singapore

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