Financial Institutions (FIG)

This course looks at:

• Current solvency framework
• Alternative current Risk-Based Capital (RBC) models
• Solvency II project
• Financial groups directive

This course enables participants to build a full sum-of-the-parts valuation of a real insurance company based on separate modeling and valuation of the life and non-life insurance businesses

• Economics of life insurance and non-life insurance
• Forecasting performance
• Embedded value to measure life insurance performance
• Solvency requirements for insurance companies
• Stand-alone valuation models for insurance companies

This course looks at:

• Traditional accounting GAAPs for insurers
• Impact of IFRS on insurance accounting
• Future development: IFRS 4 – Phase II: insurance contracts

This course looks at:

• Hybrids and regulators’ perspective
• Hybrids and rating agencies’ perspective
• Hybrids features and modelling
• Hybrids and the credit crunch

This course focuses on the topical areas of difference between traditional commercial banking and modern investment banking and on the impact of the credit crisis on banks valuation.

• Securitization
• Credit derivatives
• Funding and liquidity
• Credit crisis and state intervention
• Impact on valuation

This course looks at:

• Comparable transaction analysis
• Static balance sheet analysis
• Earnings per share dilution/accretion
• Dynamic merger modelling
• Discussion of consolidation in the banking sector

This course looks at:

• Investment banking activities
• Advanced valuation topics and techniques

This course enables participants to structure and complete a full forecasting and valuation model of a real commercial bank.

• Economics of commercial banking
• Modeling performance
• Regulatory capital overview
• Bank valuation: discounted cash flow

This course looks at:

• Banks’ financial statements
• IAS 39: Financial Instruments
• Accounting for business combinations and consolidated accounts
• Disclosure and future developments