Insurance and Reinsurance Risk Management and Regulatory Compliance Training Course

The Insurance and Reinsurance Risk Management and Regulatory Compliance Training Course develops a structured understanding of the governance arrangements, regulatory frameworks, internal control systems and enterprise risk management practices that support sound insurance and reinsurance operations. The programme examines how insurers and reinsurers identify, assess, monitor and respond to risks while maintaining effective oversight, regulatory compliance and financial resilience.

Across five days, participants explore corporate governance and the three lines of defence, the European Union regulatory environment and Solvency II, the Dodd-Frank Act and Federal Insurance Office, COSO internal control and Enterprise Risk Management frameworks, and financial stress-testing approaches. Guided discussions, insurance and reinsurance scenarios, group exercises and daily knowledge checks connect the frameworks to operational and management decisions.

Insurance and reinsurance institutions operate within interconnected risk, governance and regulatory environments. Their ability to protect policyholders, meet obligations and sustain confidence depends on more than formal policies. It requires clear accountability across boards and management, effective risk and compliance functions, reliable internal controls, meaningful regulatory reporting and the capacity to assess how adverse events may affect solvency and financial performance.

This programme brings together core governance and risk principles with selected international regulatory and control frameworks. Participants examine the requirements and practical implications of Solvency II, consider the Dodd-Frank Act and the role of the Federal Insurance Office, apply COSO internal control and ERM concepts, and assess financial stress-testing methods relevant to insurers and reinsurers. The five-day structure culminates in an integrated case study that connects governance, compliance, controls, solvency and stress testing.

• Explain the principles of corporate governance and their application to insurance and reinsurance institutions, including board and senior-management responsibilities.
• Map accountability across the three lines of defence and distinguish the roles of risk management, compliance and internal audit.
• Apply risk identification, assessment and response concepts to insurance and reinsurance operations, including risk acceptance, avoidance, transfer or sharing, and mitigation.
• Interpret the structure and principal requirements of the European Union regulatory environment and the Solvency II framework.
• Explain the role of the Own Risk and Solvency Assessment (ORSA), internal control, actuarial and audit functions, outsourcing oversight, and solvency and financial condition reporting.
• Describe the principal objectives and selected reforms of the Dodd-Frank Act, including the Financial Stability Oversight Council and Federal Insurance Office.
• Apply the five components of the COSO Internal Control framework and connect COSO ERM processes to risk appetite, strategy, objectives and performance.
• Select and interpret appropriate financial stress-testing approaches, including top-down, bottom-up, reverse stress, scenario and sensitivity testing.
• Evaluate model limitations, endogenous and exogenous risks, behavioural blind spots and the implications of stress-testing results for governance and management action.

This programme is designed for professionals involved in governance, risk oversight, compliance, assurance and financial management within insurance and reinsurance institutions, including:

• Board members, directors and senior executives of insurance and reinsurance companies.
• Chief risk officers, enterprise risk managers and risk analysts.
• Compliance officers, regulatory affairs professionals and governance specialists.
• Internal auditors, internal control officers and assurance professionals.
• Actuarial, finance, investment and solvency management professionals.
• Underwriting, claims, retrocession and operations managers.
• Professionals responsible for regulatory reporting, outsourcing oversight and group risk management.
• Insurance and reinsurance consultants and advisers supporting governance, risk and compliance improvement.

The programme uses facilitator-led presentations and guided reading, supported by facilitated discussion, practical application to insurance and reinsurance operations, group exercises and daily knowledge checks. Learning activities draw on operational contexts such as underwriting, claims, investments, retrocession, outsourcing, regulatory reporting and group risk oversight.

• Facilitator-led presentations to establish the principles, frameworks and regulatory concepts covered in each module.
• Guided discussion to examine governance responsibilities, regulatory expectations and practical implementation challenges.
• Scenario-based exercises applying risk identification, assessment and response concepts to insurance and reinsurance situations.
• Framework-mapping activities covering the three lines of defence, Solvency II governance and COSO internal control.
• Group exercises connecting risk appetite, strategy, objectives, controls and performance.
• Daily knowledge checks to reinforce key concepts and identify areas requiring clarification.
• A final integrated case study requiring participants to connect governance, compliance, COSO controls, solvency and stress testing.

Upon applying the knowledge and skills gained from this programme, organisations will be better positioned to:

• Strengthen board and senior-management oversight through clearer governance responsibilities, reporting arrangements and accountability across the three lines of defence.
• Improve the consistency of enterprise-wide risk identification, assessment, prioritisation and response across insurance and reinsurance activities.
• Reinforce compliance management through more structured policies, procedures, standards, regulatory reporting and oversight of outsourced activities.
• Improve organisational understanding of Solvency II governance, ORSA, solvency reporting, technical provisions, own funds and capital requirements.
• Strengthen internal control design and monitoring by aligning control activities with the five components of the COSO Internal Control framework.
• Connect risk appetite, strategy, objectives and performance through a more integrated COSO ERM approach.
• Improve the quality of financial stress-testing discussions by considering extreme-but-plausible scenarios, risk transmission channels and model limitations.
• Identify governance, control and modelling weaknesses that may affect resilience, decision-making and the interpretation of risk exposures.
• Support more informed management action through integrated analysis of governance, compliance, controls, solvency and stress-testing outcomes.

Upon completing this programme, participants will be better equipped to:

• Interpret governance principles and explain the responsibilities of boards, senior management and key control functions.
• Assess risk and compliance issues using structured identification, evaluation and response approaches.
• Contribute more effectively to risk reporting, compliance planning and internal control discussions.
• Understand the principal components of Solvency II and the practical relevance of ORSA and solvency reporting.
• Explain selected Dodd-Frank reforms and the role of the Federal Insurance Office in the wider insurance oversight environment.
• Map operational controls to the COSO Internal Control components and participate in ERM framework implementation.
• Distinguish between stress-testing methods and identify an approach suited to a defined insurance or reinsurance scenario.
• Challenge assumptions, recognise model risk and communicate the limitations of stress-testing results.
• Translate programme concepts into practical recommendations for governance, risk management and compliance improvement.

At Strategic Revenue Africa, our certification goes beyond proof of attendance—it represents practical competence and measurable capability. Upon successful completion of our training programs, participants are awarded a Certificate of Completion from Strategic Revenue Africa, recognizing their ability to apply acquired knowledge in real-world settings. As an organization focused on architecting sustainable revenue and strengthening organizational performance, our certifications signal that participants are equipped with skills that drive results, not just theory.

Participants should have a working understanding of insurance or reinsurance operations, financial services, risk management, compliance, audit or corporate governance. Prior specialist knowledge of every regulatory framework covered is not required, although professional exposure to insurance or reinsurance environments will support engagement with the practical exercises.