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Insurance Industry Modeling Boot Camp

Thursday, November 12 - Friday, November 13

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Cvent Transition Guide

Presented by Wall Street Prep, master insurance industry financial  modeling in this 2-day intensive virtual boot camp

What You’ll Learn

The unique regulatory framework, accounting and business model of insurance companies create challenges in the areas of financial statement analysis, forecasting and valuation. This intensive 2-day course is designed to equip professionals engaged in the analysis of insurance firms with the practical financial skill set they need on the job. We will analyze the financial statements of both P&C and life insurers and then build a forecast and valuation model for a real-life P&C insurance company.

CFANY.org: $1,599.20
Standard Rate: $1,999

Agenda

Please note: Each daily session goes from 9:30 AM – 4:30 PM EST

View Full Syllabus

Topic 1 | INDUSTRY ANALYSIS

  • Insurance sector overview
  • P&C and life insurance overview
  • Size, structure and key players
  • Personal vs. commercial vs. specialty lines
  • Multi-line Insurance
  • Mutual insurance companies
  • Operating model & structure
  • Key drivers
  • Risks and regulation
  • Dual accounting- GAAP vs. Statutory
  • Key terminology

Topic 2 | FINANCIAL STATEMENT ANALYSIS

  • Income statement analysis
  • Loss ratios, expense ratios and combined ratios
  • Premiums & UPR analysis
  • Balance sheet analysis
  • DAC roll-forward
  • Reserving process and reserves analysis
  • Investment portfolio analysis
  • Accounting for life insurance
  • Accounting for annuities
  • Financial leverage analysis
  • Accounting for reinsurance
  • Analyzing P&C and Life insurer’s 10-Ks and financial supplements
  • Analysis of statutory financials (including key schedules)
  • Risk-based capital ratios
  • Identifiable Intangibles (VOBA, VODA etc.)

Topic 3CASE STUDY: MODELING

  • Creating an integrated financial statement forecast model for a P&C insurer
  • Analysis of historical income statement and key drivers
  • Forecasting NPW, NPE & UPR
  • Forecasting Loss and LAE ratios
  • Analysis of historical balance sheet and key drivers
  • Forecasting of loss reserves and reserve development
  • Forecasting investments and yield
  • Incorporating regulatory dividend constraints
  • Incorporating operating leverage constraints
  • Estimating statutory dividends

Topic 4| CASE STUDY: VALUATION

  • Analysis of valuation frameworks & drivers
  • Comparable valuation methodologies
  • Intrinsic valuation approaches
  • Creating a dividend discount model step-by-step
  • Estimating cost of equity using CAPM
  • Estimating terminal value

Online | PRE-SEMINAR EXCEL TRAINING

This boot camp assumes proficiency in Excel. Enrollment includes access to our popular Excel Crash Course for those who need an Excel refresher.

Additional Details

Who is this boot camp for?

  • Investment banking analysts and associates
  • Private equity, asset management and hedge fund associates
  • Corporate finance and business development professionals
  • MBA students and business undergraduates
  • Anyone seeking to improve their financial modeling skill set

Boot Camp Details

The unique regulatory framework, accounting and business model of insurance companies create challenges in the areas of financial statement analysis, forecasting and valuation. This intensive 2-day course is designed to equip professionals engaged in the analysis of insurance firms with the practical financial skill set they need on the job. We will analyze the financial statements of both P&C and life insurers and then build a forecast and valuation model for a real-life P&C insurance company

Virtual training runs daily from 9:30 am to 4:30 pm. The day will be filled with interactive exercises as learners move back and forth between classroom lecture, small group breakout rooms, competitions and 1-on-1 interaction.

Comprehensive training materials (manuals and online exercises), Detailed reusable modifiable Excel model templates, Unlimited e-mail support for content-related questions for 12 months post-seminar.