Numerical methods for insurers by Dave Westall

This workshop will cover defining premium income, including a comparison between the London-market and international approaches, written and earned premiums as well as gross and net of reinsurance, key performance measures such as paid, reported and ultimate loss ratios, expense ratio and combined operating ratio including London-market & international definitions, where relevant. Return-on-equity and the link to combined ratio will be explained and the course will also cover some aids to underwriting which covers understanding exposure and premium rating, burning cost calculations and rate-on-line calculation

Learning objectives

At the end of this event, the delegate will be able to identify:

• a greater understanding of the numbers used to represent insurance industry performance
• the differences between London-market and Generally-Accepted reporting
• the definitions for terms used in premium rating (pricing).

Speaker profile

Dave has worked exclusively in Property / Casualty insurance, in a variety of actuarial, management and training roles for more than thirty years. He has headed up the European Actuarial function of a major International insurance group and he has, at various times in his career, had responsibility for Actuarial, Systems, Ceded Reinsurance and Strategic Planning functions.

As Director and Principal Trainer of Delta Omega Consultancy Ltd. (a company he established in 2001), Dave has designed, developed and delivered training to Insurance professionals in the UK, Ireland, France, Germany, Spain, the USA, Bermuda, Canada, Russia, India, Bahrain and Singapore.