This one day workshop, provided by Padma Radya Aktuaria & Actuarial Partner Malaysia, focuses on calculating the reserve for general insurance contracts both short term and long term in accordance with the PER-09/2012 and IAS 62.
Scope of workshop are calculating claims reserves (IBNR) by making observations (triangular observation), several methods selection to determine the ultimate claim that is often used and premium reserve calculation using discounted cash flows.
- The objective is for participant to understand the concept of reserving and to be able to perform computation of claim reserving (IBNR) as well as discounted cash flow for premium reserving in MS Excel.
- THE COURSE WILL BE A MIXTURE OF LECTURE AND HANDS-ON EXERCISES. Participants are encouraged to bring their laptops to solve practical exercises during the course.
Riana Magdalena, FSAI
Riana Magdalena is a very senior actuary with over 22 years of experience practicing various actuarial functions in insurance area, including reserving, product development, and shareholder value management.
She has signed off on reserving for Incurred But Not Reported (IBNR) claims and reserving on short term and long term general insurance contracts, both on accounting standard purpose (PSAK 62) as well as statutory (PER-09) requirement for various general insurers and reinsurers in Indonesia.
Before starting Padma Radya Aktuaria, She was a senior actuary at Deloitte Touche Management Consultant, Chief Actuary & Assistant Vice President at ING Life Indonesia and Actuarial Manager at Prudential BancBali Life Assurance.
Nicholas Yeo, FIA, FASM, FSA
Nicholas Yeo is the Chief of learn@AP. He qualified as a Fellow of the Institute and Faculty of Actuaries (UK), Fellow of the Actuarial Society of Malaysia and a Fellow of the Society of Actuaries (US).
Prior to this, Nicholas was the marketing actuary of a multinational reinsurance company in Bermuda with global responsibilities for marketing and pricing structured reinsurance solutions.
He also worked as a regional actuary with business development and client training responsibilities for a large reinsurance company in the South East Asian market.Nicholas started his career with Actuarial Partners, where he learnt the ropes working on mergers and acquisitions, market feasibility studies and takaful projects, in addition to traditional actuarial work such as pricing, reserving financial projections and capital modelling.
Nicholas is frequently selected to speak in global actuarial conferences, including the SOA Annual Meeting 2013 San Diego and the International Congress of Actuaries Washington DC 2014.
Nicholas is a past Chairperson of the Professional Development Committee and Events Committee of the Actuarial Society of Malaysia.
Who Should Attend :
- Actuarial staff and Manager who are responsible for producing reserve report in General Insurance Company, Reinsurance as well as Life Insurance that has significant short-term contracts or UL riders portfolio.
- Auditor or staff/manager who is responsible in reviewing reserve report produced by insurance Company.
- Anyone interested in General Insurance actuarial application.