Swiss Re ReTa Training

The Insurance Institute of Gauteng presented another premium education event on the 2nd and 3rd October 2017. ReTA Training was proudly sponsored by Swiss Re and powered by the #insurancemovement, with the IISA, IYG, IING, FIA and SAUMA all endorsing the training.

#Insurancemovement is not only a catchy hashtag, but an initiative that encourages meaningful collaboration between like-minded industry bodies in the South African insurance market. The Swiss Re ReTA Training powered by the #Insurancemovement is a perfect opportunity for us to showcase our collective commitment to skills development across the entire industry.

The professional development of our member base collectively, is a common purpose that draws all insurance movement bodies together. Education is a key enabler of this development and the effective transfer of skills and accelerated development of our industry is a key imperative that we are all concerned about. The collaboration of such bodies through the #Insurancemovement has a more significant impact on our industry than driving IIG initiatives only.

The Swiss Re sponsored ReTA (Reinsurance and Technical Accounting) Training took place at GIBS over two full days. We had a diverse group of participating delegates including the likes of brokers, underwriting managers, insurers and reinsurers - from all across the Gauteng province, and some from outside SA!
 These two days of technical accounting ensured the delegates had robust and in-depth training sessions facilitated by world class, internationally acclaimed, topic experts.

Swiss Re guest speakers and training facilitators were flown out from Zurich to South Africa, specifically to deliver this world class training to the Gauteng insurance industry.

The Swiss Re training professionals were none other than: Boutkhil Messelek – Expert Client Accounting Services, Florian Zierer – Manager Client Accounting Services, Jacqueline Luscher- Expert Client Accounting Services, Nicole Kellenberger – Manager Client Accounting Services and Stelios Kontos – Sr Specialist Client Accounting Services.

Topics covered during this training included the below listed topics:
• Reinsurance accounting
• Admin Cycles and South African payment performance and key drivers
• Overview of Treaty Types
• Accounting Systems
• Reserves and Portfolio Movements
• Reporting of fire and natural perils
• Cash Loss
• Year End Calculations
• Loss participation, and loss carried forward
• Profit commission
• Sliding Scale commission
• Non- Proportional Treaties, and performance of non-proportional in South Africa
• Claims Handling and reporting

Both days included multiple individual work exercises, as well as workgroup activities, which further elevated the learning experience and allowed for delegates to grasp and practice the concepts being taught, as well as to have meaningful discussions with their peers.

A celebratory cocktail event to congratulate delegates for completing the course was hosted at the end of Day Two. This also gave a professional networking opportunity for the delegates, Swiss Re guest speakers, IIG Councilors and other institute members. All delegates who made it through the training were awarded with a certificate of recognition and 10.5 hours CPD points.

Thanks goes to IISA, IYG, IING, FIA and SAUMA for supporting the #Insurancemovement and endorsing this training session.
 A very big and extra-special thank you to our sponsor Swiss Re, and their professional speakers, for all the efforts and involvement with making this educational event possible.