CourseInsurance, Risk & Actuarial Data Applications open

Course in Solvency and Reserves in Reinsurance

Online course of 300 h in solvency and reserves in reinsurance. 6 modules covering Directive 2009/138/CE (Solvency II), Delegated Regulation (EU) 2015/35 (development of Solvency II) and ResQ (WTW). Assigned tutor and open enrolment.

Duration300 h
ModeOnline
LanguageEnglish
Start datesSet by the faculty
AwardSEIUM Institute certificate

Course in Solvency and Reserves in Reinsurance — studying from Canada

Canada has a major insurance and financial services sector, with headquarters and operations concentrated in Toronto and Montréal. Insurers and reinsurers rely on actuarial science, risk modelling and data analytics for pricing, reserving and capital management. Federal and provincial regulators oversee solvency, conduct and consumer protection. Engineers and data specialists with risk and modelling skills find roles at insurers, brokers, consultancies and regulatory bodies.

Fees for Canada: C$1,160 (Canadian dollar), with instalments and employer sponsorship available.

Relevant bodies in Canada

  • Office of the Superintendent of Financial Institutions (OSFI)
  • Canadian Institute of Actuaries (CIA)
  • Financial Services Regulatory Authority of Ontario (FSRA)
  • Insurance Bureau of Canada (IBC)

Typical roles

  • Actuarial Analyst
  • Risk Analyst
  • Data Scientist – Insurance
  • Reserving Analyst

Questions from Canada

Is this programme recognised by professional bodies in Canada for insurance and actuarial data work?

SEIUM's qualifications are private, not official state degrees, and are not accredited by a national body in Canada. Actuarial credentials in Canada are governed by the Canadian Institute of Actuaries, and actuarial practice is regulated under provincial and federal rules. A private engineering qualification does not confer these credentials, so confirm recognition with employers or the relevant body yourself.

How might this qualification be used by employers in Canada in insurance or risk roles?

Insurers, banks and risk teams in Canada may value engineering-based data analysis and risk modelling skills, but how they regard a private qualification is their decision. Hiring in these sectors often depends on experience, professional exams and specific credentials. Your final project can serve as evidence of applied skills, though it does not guarantee any role or salary outcome.

What are the practical demands of studying this online from Canada?

Study is fully online and in English, and no student visa is required if you study from home. Programme lengths range from 300 to 1,900 hours, so consider how many hours a week you can commit alongside work. You are assigned a technical tutor for support. Fees can be paid in instalments, and some students receive employer sponsorship, which is possible but not guaranteed.

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Learning outcomes

What you will be able to do

01

Explain the particularities of a reinsurer's solvency.

02

Calculate the best estimate and risk margin of technical provisions.

03

Quantify reserve uncertainty using stochastic methods.

04

Assess the impact of assets, liquidity and counterparty risk on capital.

05

Calculate the solvency capital requirement using the standard formula.

06

Prepare the prudential information required by the supervisor.

07

Interpret the solvency position in the context of the reinsurance market.

Profile

Who it's for

  • Reserving actuary in reinsurance who wants to specialise in Solvency and Reserves in Reinsurance.
  • Capital and solvency analyst who wants to specialise in Solvency and Reserves in Reinsurance.
  • Risk manager at a reinsurer who wants to specialise in Solvency and Reserves in Reinsurance.
  • Actuary in the actuarial function who wants to specialise in Solvency and Reserves in Reinsurance.
  • Asset and liability management analyst who wants to specialise in Solvency and Reserves in Reinsurance.
  • Prudential reporting technician who wants to specialise in Solvency and Reserves in Reinsurance.
  • Graduates in engineering or science seeking to enter reinsurance.
Standards & tools

What you'll work with

  • Directive 2009/138/CE (Solvency II)
  • Delegated Regulation (EU) 2015/35 (development of Solvency II)
  • IFRS 17 (insurance contracts)
  • Law 20/2015 (regulation, supervision and solvency of insurance undertakings, LOSSEAR)
  • Royal Decree 1060/2015 (ROSSEAR)
  • IFRS 9 (financial instruments)
  • EIOPA guidelines on the valuation of technical provisions
Syllabus

6 modules · 300 h

  1. 1.1Particularities compared with direct insurance
  2. 1.2Volatility and nature of the business
  3. 1.3Applicable prudential frameworks
  4. 1.4Equivalence and cross-border supervision
  5. 1.5Own funds and their quality
  6. 1.6Capital requirement and its calculation
  7. 1.7Vocabulary and acronyms in the field
  8. 1.8Role of ratings
  9. 1.9Group supervision
  10. 1.10Exercise: reading a solvency report
  1. 2.1Outstanding claims reserves
  2. 2.2Incurred but not reported claims
  3. 2.3Information received from cedants and its delay
  4. 2.4Applicable projection methods
  5. 2.5Treatment of large claims
  6. 2.6Unearned premium reserves
  7. 2.7Risk margin and discounting
  8. 2.8Inflation and its effect on the tail
  9. 2.9Validation and independent review
  10. 2.10Practice: estimating reserves for a treaty
  1. 3.1Sources of uncertainty in reserves
  2. 3.2Reserve ranges and scenarios
  3. 3.3Analysis of historical development
  4. 3.4Deterioration and its early detection
  5. 3.5Additional reserves and their justification
  6. 3.6Communicating uncertainty
  7. 3.7Effect on result and capital
  8. 3.8Governance of reserving decisions
  9. 3.9Commercial pressure and its management
  10. 3.10Practice: analysis of reserve deterioration
  1. 4.1Composition of the investment portfolio
  2. 4.2Asset-liability matching
  3. 4.3Liquidity in the event of a major event
  4. 4.4Market risk and its capital
  5. 4.5Credit and counterparty risk
  6. 4.6Effect of retrocession
  7. 4.7Combined stress tests
  8. 4.8Capital contingency plans
  9. 4.9Access to capital under stress
  10. 4.10Practice: liquidity stress test
  1. 5.1Prudential reporting and its timetable
  2. 5.2Public disclosure and its content
  3. 5.3Dialogue with the supervisor
  4. 5.4Relationship with rating agencies
  5. 5.5Communication with the market and cedants
  6. 5.6Transparency after a major event
  7. 5.7Monitoring indicators
  8. 5.8Governance and key functions
  9. 5.9Continuous improvement of the framework
  10. 5.10Practice: summary solvency report
  1. 6.1Choice of reinsurer and its portfolio
  2. 6.2Estimation of technical reserves
  3. 6.3Uncertainty analysis
  4. 6.4Capital and coverage calculation
  5. 6.5Stress and liquidity tests
  6. 6.6Capital contingency plan
  7. 6.7Reporting and communication plan
  8. 6.8Monitoring indicators
  9. 6.9Analysis report
  10. 6.10Defence of the project
Methodology, software & labs

How you'll learn

100 % online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. No fixed timetable: students progress at their own pace within the intake, which allows it to be combined with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is ResQ (WTW), R (ChainLadder), Igloo (WTW), Remetrica (Aon), Excel avanzado, in free, academic or trial versions. The exercises are based on real technical provision calculation procedures using loss triangles, estimation of a reinsurer's SCR using the standard formula, and liquidity and capital stress tests. Assessment is continuous by module plus the final integrative project.

Accreditable laboratories(EN ISO/IEC 17025) with a rotor test rig, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-driven Master's Thesis:safety case, test plan, compliance dossier and operating limits.
Industry mentoring:lecturers with a track record in training, , eVTOL/UAM and flight test.
Flexible format(hybrid/online), international cohorts and support from SEIUM Career Services.
Ethics and safety:safety-by-design approach, cyber-OT, DIH and compliance as pillars.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

Choice of reinsurer and its portfolio

Explain the particularities of a reinsurer's solvency.

Estimation of technical reserves

Calculate the best estimate and risk margin of technical provisions.

Uncertainty analysis

Quantify reserve uncertainty using stochastic methods.

Capital and coverage calculation

Assess the impact of assets, liquidity and counterparty risk on capital.

Stress and liquidity tests

Calculate the solvency capital requirement using the standard formula.

Career opportunities

Where this takes you

Reserving actuary in reinsuranceCapital and solvency analystReinsurer risk managerActuary in the actuarial functionAsset and liability management analystPrudential reporting technician
Admissions & scholarships

Requirements

  • No prior qualification required.
  • Internet connection and a computer capable of running the programme's software.
  • Sufficient level of Spanish to follow technical regulatory texts.

Ready to start?

Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.

FAQ

Frequently asked questions

The programme comprises 300 hours in total, spread over 3 to 5 months. That is between 10 and 15 hours per week on average, compatible with a full-time job.

The work is carried out with ResQ (WTW), R (ChainLadder), Igloo (WTW), Remetrica (Aon), Excel avanzado. Free, academic or trial versions are used, and the tutor indicates the free alternative where one exists.

SEIUM's own diploma upon passing the continuous assessment and the integrative project. It is in-house training, not an official Ministry qualification.

Yes. Modules passed in a course or postgraduate diploma in the same area are credited towards the advanced programme. Check the credit transfer policy when you enrol.

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