This comprehensive workshop will give a thorough grounding to those new to the regulatory returns as well as provide an essential update for the 2008 changes.

KEY OBJECTIVES

• Gain a clear understanding of how the regulatory forms interact with each other
• Examine in detail areas of particular difficulty in completing the regulatory returns
• Review practical experiences of the 2007 reporting exercise
• Identify the changes coming into effect in 2008

WHO SHOULD ATTEND

This workshop will benefit anyone from a life insurance company responsible for completing, reviewing or signing off the regulatory returns. This will include:

- Regulatory Reporting
- Finance , Accounting & Actuarial
- Internal Audit


WORKSHOP AGENDA

DAY ONE

Overview of the FSA Prudential Regime

• Background and purpose of the FSA regulatory return

Overview of the FSA Regulatory Return

• How it all fits together

Assets

• Overall approach
• Asset admissibility
• Asset valuation
• Market risk and counterparty limits

Assets Held to Cover Linked Liabilities

Derivatives in the FSA Return

• Overview of admissibility and valuation rules
• Quasi derivatives

Revenue Forms

DAY TWO

Capital Resources

• Tiers of capital
• Application of limits between tiers

Capital Resource Requirements

• Calculation basis
• Life realistic reporters

Groups and Related Undertakings

• Classification on Form 13
• Valuation of shares and debt
• Exposure testing
• Adjusted solo

Reinsurers and Reinsurance

• Types of reinsurance
• Impact on capital resource requirements
• Disclosures
• Financial reinsurance
• Pure reinsurers and prudent person investment principles

Actuarial Forms

Non Actuarial Liabilities

• Liabilities rules
• Contingent liabilities
• Forms 14 and 15

Directors’ Certificate

A Retrospective on the 2007 Returns

• Principal areas causing insurer problems
• Typical technical review comments
• Changes for 2008

Chairman’s Summation