Reinsurance and risk exchanges

Teacher(s)

De Longueville Philippe;

Language

French

Prerequisites

Mastery of English at the level of LANGL1330 course.
LACTU2010 Actuariat des assurances dommages
LACTU2030 Actuariat de l'assurance-vie
LACTU2210 Quantitative Risk Management
LACTU2230 Actuariat des assurances de personnes

Main themes

Reinsurance market. Reinsurance treaties and their characteristics. Reinsurance pricing and reserving. Optimal reinsurance. Alternative risk transfer.

Content

- Introduction to reinsurance
- Different forms of reinsurance
- Pricing of excess of loss treaties, including the main special clauses
- Clauses specific to proportional treaties
- Insurance linked Securities
- Introduction to the work
- Reinsurance and Solvency 2
- Impact of climate change on damage to property and persons and the importance of reinsurance to cover such damage

Teaching methods

Ex-cathedra course with reading material.
The course consists of 7 lessons of 2 hours each. An additional session is organised to answer any questions students may have.
Most course materials are in English.

Evaluation methods

First session: assessment will be based on an examination and a piece of work. If the number of students allows it, the examination and the presentation of the work will be oral. Otherwise, the examination will be written and there will be no oral presentation of the work.
Second session: oral examination. There is no need to submit work for the second session unless the student did not submit work for the first session.
If the student uses an artificial intelligence tool to complete the assignment, he/she is requested to state which tool he/she used and for what purpose.

Bibliography

• Walhin J.F. (2012). La Réassurance, 2ème édition. Larcier.
• Bauwens, V., Walhin, J.F. (2008). La Titrisation du Risque d'Assurance. Larcier.
• Walhin, J. F., Herfurth, L., and De Longueville, P. (2001). The practical pricing of excess of loss treaties: actuarial, financial, economic and commercial aspects, Belgian Actuarial Bulletin
• Drieskens & all (2010). Stochastic projection for large individual losses, Scandinavian Actuarial Journal
• Textes réglementaires (Directive solvabilité 2, circulaires de la BNB…)

Faculty or entity

> LSBA