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990 Insurance Corporate Management

Navigating your ACII

Using This Course (3:42)
Approaching Coursework (11:45)
The Marking Grid (10:01)
Referencing (8:01)
ACII Journey Mapping (10:26)
Introduction to Contexts (10:44)

Interviewing the Industry

NICK KIRK- Risk appetite - Attitude to risk - Reputation (7:38)
RICHARD WOOLER - Investment strategies - Investment management - Diversification (3:46)
RICHARD WOOLER - Refining Investment Practice - External environment - Opportunities (2:25)
RICHARD WOOLER - Using equity or debt to raise capital - Mergers and acquisitions (4:59)
RICHARD WOOLER - How central banks influence supply - Interest rates (4:59)
CHARLOTTE WARR - Outsourcing - Insourcing - Due diligence (7:10)
JOHN CONSTABLE - Start-ups - Business model disruptors - Innovation (6:58)
JOHN CONSTABLE - Investment strategy - Profitability - Market risk (7:48)
JOHN CONSTABLE - Corporate governance - Corporate strategy - Culture (4:21)
JOHN CONSTABLE - Portfolio management - Segmentation - Diversification (8:31)
JOHNATHAN BESSO-COHEN - Social change - ESG - Climate change (9:27)
JOHNATHAN BESSO-COHEN - Globalisation - Local markets - Reinsurance (8:17)
MARK BUTTERWORTH - Risk acceptance policy - Strategic business planning - Barriers to entry (10:44)
MARK BUTTERWORTH - Outsourcing risk - SLAs - Auditing (12:32)
MARK BUTTERWORTH - Choice of domicile - Brexit - Captives - Regulatory environments (7:31)
MARK BUTTERWORTH - Corporate governance - UK Corporate Governance Code (12:43)
MARK BUTTERWORTH - Corporate risk management - Risk appetite - Accumulation of risk (12:02)
MARK BUTTERWORTH - Budgeting process - Budgeting methods - Budget deviation and variation (10:05)
NOUSHEEN HASSAN - Solvency II - Evolution of risk management - ORSA (6:07)
NOUSHEEN HASSAN - Audit committee - Audit plan (10:27)
NOUSHEEN HASSAN - Governance - Working groups (2:38)
NOUSHEEN HASSAN - Market trends - PRA guidance - Business continuity (8:07)
RACHEL PANKRATZ - Marketing strategy - Corporate mission statement - Brand - Differentiation (11:54)
SUNEETA PADDA - Stakeholder management - Vulnerable customers - Transparency (7:34)
SUNEETA PADDA - Corporate governance - SMCR (6:06)
SUNEETA PADDA - Business ethics - CSR - ESG - Accountability (5:28)
SUNEETA PADDA - Broking risk - PPL - Distribution (2:53)
THERESA FROEHLICH - Corporate strategy - Regulators - Risk appetite - KPIs (5:07)
THERESA FROEHLICH - Strategic and operational planning - ORSA - ROCE (5:37)
THERESA FROEHLICH - Investment strategy - Regulatory environment - Investment committee (5:08)
ROSEMARY BEAVER - Business ethics - Business failure - Corporate governance (8:31)
ROSEMARY BEAVER - ERM - Risk appetite - Three lines of defence - Risk registers (16:19)
ROSEMARY BEAVER - Lloyd's - Global markets - Competition (7:58)
ROSEMARY BEAVER - Emerging risks - Climate change - Latent risks (7:16)
ROSEMARY BEAVER - Corporate Governance - Regulators - ESG (2:44)

Technical Topics

Main Types of Investment (1:20)
International Regulatory Approaches (2:18)
Financial Markets (3:34)
Strategic Planning vs. Operational Planning (5:36)

Refreshers

Market Associations (1:34)
Composition of the Board (2:31)
UK Corporate Governance Code (4:48)
Role of IFRS Foundation (1:17)
Budgeting (2:46)
Risk Management (3:51)
Management accounts (1:53)

Concepts ‘in a nutshell’

ERM & GRC (2:12)
Capital (1:16)
Choice of Domicile (1:08)
Globalisation (1:25)
Operational Capital (1:22)

Perspectives & Scenarios

Corporate Social Responsibility (13:32)
Employment decisions (14:49)

Real Time Research

A look through an annual report (9:41)
The distribution landscape (5:47)

Snip-it Summaries

Organisational Structure (2:13)
The Investment Zoo (1:54)
Types of Entity Within Lloyd's (1:15)
Artificial Intelligence (2:43)
Environmental, Social and Governance (ESG) (2:54)
Consumer Duty (3:32)

Research Resources

990 Insurance Corporate Management Specimen Coursework
General ACII resources
Lloyd's Annual Report 2023
Lloyd's Annual Report 2022
CII Credit Calculator
CII eLibrary

Legacy

Lloyd’s Minimum Standards: Corporate Management (8:16)
JOHNATHAN BESSO-COHEN - Societal risks - Adaptation of the market - Government involvement - COVID-19 (12:00)

Future Development

Course Feedback

Organisation structures and essentials

7 Organisational Structure Types - Forbes
The Nature and Role of Capital in Insurance - The Geneva Association
New LessonInsurance and Reinsurance 2014 - Chambers and Partners
Choosing a Captive Domicile - Captive
Invest with Lloyd’s
Pool Re Website
An example of a company’s Annual Report and Accounts - NFU Mutual
(CII Link) Accounts - Solvency - Financial Condition Report (24)

Management structure of insurance firms

What is the role of the board? Institute of Directors
What is a board of directors? McKinsey
Insurance Manager Job Description - Airmic
Changes to the Corporate Governance Code (UK) - Kennedy’s
The 2024 UK Corporate Governance Code - EY
UK Corporate Governance Code 2024 Guidance - Norton Rose Fulbright
The top risks for UK businesses in 2024 - Allianz
Enterprise Risk Management - IRM
Enterprise Risk Management: An overview - Reuters
What is a stakeholder analysis? Forbes
Insurance Non-executive Directors (iNED) Website
Companies Act 2006
An example of Corporate Governance responsibilities in action - Admiral Group Plc
Institute and Faculty of Actuaries Websites
Governance Structure example - Aviva
Corporate Governance Code Consultation - Financial Reporting Council (FRC)
New Lesson
Principles for doing business at Lloyd’s - Lloyd’s
CII Code of Ethics
Culture Strategy 2022 - 2027 - Lloyd’s
Principles for doing business at Lloyd’s - Culture
Enterprise Risk Management - Integrating with Strategy and Performance - COSO
UK Corporate Governance Code - Financial Reporting Council (FRC)
A structured approach to Enterprise Risk Management (ERM) and the requirements of ISO 31000

The organisational issues of companies

Dive In Festival Website
Outsourcing and operational resilience - FCA
UK outsourcing expectations - Herbert Smith Freehills
How the Consumer Duty impacts outsourcing arrangements - Masons
An example of business structure - Hiscox
An example of Inclusion and Diversity strategy - Bupa
Culture at Lloyd’s - Lloyd’s
Our collective progress made across all culture commitments - Lloyd’s
Ethnic Diversity in the Workplace Report - Lloyd’s
Outsourcing and third party risk management - Bank of England

Finance and actuarial functions within insurance

How insurers can build the finance function of the future
Unlocking the potential of finance for insurers - Deloitte
FRS 103 Insurance Contracts - Financial Reporting Council
Regulatory reporting: Insurance sector - Bank of England
IFRS 17 Insurance Contracts - IFRS
PRA Regulatory Digest: February 2024 - Bank of England
Why cash flow is key for captive insurers - Captive
Actuarial Function Guidance - Lloyd’s
Private capital in insurance 2.0: Building the flywheel - McKinseys
Liquidity risk management for insurers - Bank of England
An example of approach to IFRS 17 and IFRS 9 - Direct Line Group
IFRS 17 Insurance Contracts - IFRS

Strategic and operational planning

Why insurers must reimagine planning and performance management - EY
Winning the future: five strategic themes for insurance leaders - EY
Lloyd’s 2023 Market Oversight Plan
Conducting business - Requirements and standards - Lloyd’s
(CII Link) Lloyd’s Acts - Byelaws - Standards - Principles (24)
Lloyd’s Lab Website
Public Trust Index - CII
Building public trust in Personal Lines - CII
Essential guide to writing a business plan - Start Up Donut
Future of Insurance - Raconteur

Control processes in insurance

Operational risk: systems and controls for insurers - FCA
Insurance - are risk management controls too complex? Grant Thornton
Strategic Themes - How are they used and why?
What is a balanced scorecard? Harvard Business School
Why benchmarking alone isn’t enough in today’s risk landscape - WTW
Insurance 360 Benchmarking Tool - McKinsey
Internal Audit for Broker: Good Practice Guide - CII
Capital Planning Group - Lloyd’s
Capital Guidance - Lloyd’s
Gracechurch Consulting

The role of investment management in insurance companies

9 Types of Investment Assets - Forbes
Top investment considerations for insurers 2024 - Mercer
Are private market investments helping insurers’ portfolios? Moody’s
Asset-Liability Management - Deloitte
Asset and liability management modernisation for insurance
London Stock Exchange Website
Principles for doing business at Lloyd’s - Investments
What is Insurance ALM? Smart Capital Mind

Role and impact of insurance regulation

UK Insurance Regulation: Looking ahead to 2024 - Herbert Smith Freehills
The calm after the Brexit storm for the insurance market? DWF
Senior Managers and Certification Regime - FCA
Review of the Senior Managers and Certification Regime (SM&CR) - CMS
Data Protection Update - Simmons and Simmons
The Lloyd’s Market Association announces 2024 priorities - LMA
The Prudential Regulation Authority’s approach to insurance supervision
Operational Resilience: Impact tolerance for important business services - Bank of England
Building operational resilience - FCA
Our approach to competition - FCA
Final non-Handbook Guidance for firms on the Consumer Duty - FCA
Principles for doing business at Lloyd’s - Customer Outcomes
Business Plan 2023/24 - FCA
Guidance for firms on the fair treatment of vulnerable customers - FCA
Financial Policy Committee - Bank of England
Introduction to IDD for Brokers: Good Practice Guide - CII
International Association of Insurance Supervisors (IAIS)
Financial Stability Board (FSB) Website
The Senior Managers and Certification Regime: Guide for insurers
Financial Services Register - FCA
An example of Privacy Information Notice - Antares
The Joint Money Laundering Steering Group (JMLSG) Website
Insurance Act 2015
The Bribery Act 2010 Guidance

The purpose of Solvency II and credit ratings for insurers

Review of Solvency II - Bank of England
Solvency II Reform: An overview - MacFarlanes
Credit Ratings example - RSA
ESG scores: Why and how insurers should prepare for ESG rating agency regulation - WTW
Credit Ratings example - Aviva
Solvency II - Bank of England
UK Financial Services and Markets Act 2023 - Clifford Chance
Igloo - Willis Towers Watson
Standard and Poor’s Website
Moody’s Website
Fitch Website
AM Best Website
Guide to Best’s Credit Ratings - AM Best

Current and future challenges to insurance management

The Value of Insurance in a Changing Risk Landscape - The Geneva Association
Systemic risks and the insurance sector - CII
Why become Chartered?
Climate-Related Financial Disclosure - Chubb

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