Life Actuarial Generalist

2 sequenced courses

ILA 101
Pricing and Introduction to Valuation and Risk Management ▼
  • Individual Life and Annuity Product Design and Pricing: The candidate will understand the designs of the common Life and Annuity products and their associated features and inherent risks, and the methods to design and price these products.
  • Assumption Development and Experience Studies: The candidate will understand different types of actuarial assumptions and how experience studies are designed and used for evaluating past experience and for setting assumptions.
  • Product Management: The candidate will understand common issues and practices related to Product Management.
  • Introduction to Life and Annuity Valuation Concepts: The candidate will understand common valuation and capital techniques used in US, Canadian, and international regulatory frameworks.
  • Introduction to Assets and Managing Risk: The candidate will understand various techniques for addressing the mitigation of risk within a life insurance and annuity context.
ILA 201-U
Valuation and Advanced Product and Risk Management, U.S. ▼
  • Assumes knowledge from ILA 101
  • U.S. Financial Reporting Requirements: The candidate will understand and apply U.S. valuation principles and methods applicable to individual life insurance and annuity products issued by U.S. life insurance companies.
  • Capital Management: The candidate will understand how to explain and apply the methods, approaches and tools of financial capital management for life insurance company under a US regulatory framework.
  • Management and Evaluation of Life Insurance Risks: The candidate will understand types of life insurance risks, the impacts of diversification, crediting rating agency frameworks, and the assessment of risk management.
  • Advanced Product Management: The candidate will understand value creation and inforce management techniques for life and annuity products.
or
ILA 201-I
Valuation and Advanced Product and Risk Management, International ▼
  • Assumes knowledge from ILA 101
  • International Financial Reporting Requirements: The candidate will understand and apply valuation principles to individual life insurance and annuity products issued by international life insurance companies.
  • Capital Management: The candidate will learn the capital requirements under solvency II framework, the approaches and tools of financial capital management for international life insurance company.
  • Management and Evaluation of Life Insurance Risks: The candidate will understand various approaches to manage and evaluate life insurance risks.
  • Advanced Product Management: The candidate will understand value creation and inforce management techniques for life and annuity products.

2 additional courses

INV 201
Quantitative Finance ▼
  • The candidate will understand key types of derivatives.
  • The candidate will understand the principles and techniques for the valuation of derivatives.
  • The candidate will understand various applications and risks of derivatives.
CP 341
Advanced Life Reinsurance ▼
  • Assumes knowledge from ILA 101
  • Types of Reinsurance Arrangements and Methods: The candidate will understand different types of traditional and advanced reinsurance transactions for life insurance.
  • Transferring Risk: The candidate will understand the fundamentals of risk transfer between two counterparties.
  • Key Accounting and Regulatory Considerations: The candidate will understand regulatory frameworks for reinsurance transactions across US, Canadian, and global jurisdictions.