Objective

A 2 Days practical training program designed to provide the delegates with the knowledge and skills related to:

• understand and support compliance with the Solvency II Directive
• understand new responsibilities in order to protect their reputation, wealth & their organization
• understand what is mandated by the Solvency II Directive and what is just "nice to have"
• see Solvency II as a Competitive Advantage

What you will learn?

• Solvency II: The new Role of the Board of Directors Executive & Management
• Board and Risk Management: The Expectation to Demonstrate an In-Depth Understanding of the Framework
• The Direct Correlation between Risk and Capital - by Improving the Quality of Risk Management Firms can Reduce the Required Regulatory Capital
• Understanding the Minimum Capital Requirement (MCR) and the Solvency Capital Requirement (SCR)
• Do you need an Internal Model? Why? When? At What Cost?
• Advantages and Disadvantages of the Internal Models, Including; Common Mistakes and What You Should Avoid at Any Cost.
• Pillar 2 and the Supervisory Review Process (SRP)
• Supervision of Insurance and Reinsurance Undertakings in a Group
• Parent Undertakings Outside the Community
• Special Purpose Vehicles (SPV’s)
• Reinsurance Undertakings: What is Different
• Solvency II is a Challenge, but it can Become an Opportunity
• How Countries and Firms use Solvency II Compliance as a Competitive Advantage

IFRS 9 – Financial Instruments

The new IFRS 9 Financial Instruments: Classification and Measurement has been published by the IASB on 12 November 2009. The main feature of IFRS 9 is that it emphasizes the entity's business model when classifying financial assets. Accordingly the business model and the characteristics of the contractual cash flows of the financial asset determine whether the financial asset is subsequently measured at amortized cost or fair value. IFRS 9, which shall be applied retrospectively, is mandatory for all annual periods beginning on or after 1 January 2013. The extensive transitional requirements may have different effects on the financial reporting and the performance of the entity depending on the date of initial application and the facts and circumstances that exist at the date of initial application.

This two-day course provides a comprehensive view of the most important accounting and reporting requirements in IFRS 9. The course will also provide detailed information on the IASB's project to replace IAS 39 and on the status of convergence to US GAAP. As the title indicates, this course is suitable to treasurers and other persons with a financial and accounting responsibility in a corporate commercial or industrial entity. Basic accounting knowledge and experience is required to get the most out of this training. The main topics include, but are not limited to:

• Status and background of IFRS 9
• Classification model and measurement for financial assets
• Classification model and measurement for equity investments
• Assessment of the characteristics of contractual cash flows
• Impact on processes and systems: what do corporate need to change?
• Impact on financial statements and key financial ratios
• Impairment
• Hedge accounting
• Transition and effective date

IFRS 4

• An Overview

Exposure Draft 2010 – Insurance Contracts

• OBJECTIVE

The objective of this [draft] IFRS is to establish the principles that an entity should apply to report useful information to users of its financial statements about the amount, timing and uncertainty of cash flows from:

• insurance contracts that it issues,
• reinsurance contracts that it holds, and
• financial instruments containing discretionary participation feature that it issues
• SCOPE

An entity shall apply this [draft] IFRS to:

• Insurance contracts (including reinsurance contracts) that it issues and reinsurance contracts that it holds.
• financial instruments that it issues containing a discretionary participation feature 
• RECOGNITION
• MEASUREMENT
• DERECOGNITION
• PRESENTATION

Course Fee:

AED 6,500 including training material, refreshments and lunch.

Run this course in-house to save time and money

We run this specialized course for insurance companies on their location or at Lynchpin's dedicated training suite in Dubai Knowledge Village