Insurance Methodologies RFC Webinar
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In this webinar, we will discuss proposed changes to four different methodologies, including the Life Insurers Methodology, the Property and Casualty Insurers Methodology, the Reinsurers Methodology and the Trade Credit Insurers Methodology, all published in January 2023, and to the Financial Statement Adjustments in the Analysis of Financial Institutions methodology, published in August 2018. These changes reflect the incorporation of new accounting standards for insurance, including International Financial Reporting Standard (“IFRS”) 17 accounting rules and Targeted Improvements to the Accounting for Long Duration Contracts (“LDTI”) , which became effective January 1, 2023. The webinar will highlight how these new accounting standards are incorporated into the methodologies and address the following questions:
- What is the anticipated impact on ratings?
- How is CSM reflected in the new proposed methodologies?
- What is the proposed treatment of AOCI treated for US GAAP life insurers?
- What are the proposed changes to leverage sub-factor ranges?
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SpeakersScott Robinson, CFA Associate Managing Director, Financial Institutions Moody's Ratings
Wallace Enman Vice President - Senior Credit Officer Moody's Investors Group
Michael Fruchter, CFA Vice President - Senior Credit Officer Moody's Investors Service
Will Keen-Tomlinson Vice President - Senior Analyst, Financial Institutions Group Moody's Ratings
Helena Kingsley-Tomkins Vice President - Senior Analyst, Financial Institutions Moody's Ratings
Brandan Holmes Vice President - Senior Credit Officer, Financial Institutions Moody's Ratings
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Mr. Robinson is an Associate Managing Director in the Life Insurance Group at Moody’s Ratings. He is responsible for managing analysts who cover a broad array of life and health insurance companies. Prior to joining Moody’s in 1999, Mr. Robinson worked in the Investment Policy and Strategy Group of the Trust Company of the West. Previously he had been with AXA Financial. Mr. Robinson holds a degree in economics from Duke University and a Masters Degree in Actuarial Science from Georgia State University. He is a Fellow of the Society of Actuaries and a CFA charterholder.
Wally is a Vice President - Group Credit Officer in Moody’s Financial Institutions Group. As Group Credit Officer since 2014, Wally has responsibility for monitoring ratings quality as well as assisting in the development and implementation of rating methodologies and practices for insurance groups globally.
Before becoming Group Credit Officer, Wally was a member of Moody’s Accounting Specialist group, providing technical accounting support to the Life, Property and Casualty, and Specialty Insurance teams and publishing research on complex financial reporting topics.
Prior to joining Moody’s in 2007, Wally was a Senior Manager in Ernst & Young, LLP’s Transaction Advisory Services group, where he consulted and performed due diligence on mergers and acquisitions involving insurance companies. Wally had also worked for the General Reinsurance Corporation, in financial reporting and investment accounting.
He holds a BS degree in Accounting from Fairfield University and an MBA from NYU’s Stern School of Business. Wally is a CFA charterholder, a Certified Public Accountant (CPA) and a Chartered Property Casualty Underwriter (CPCU).
Michael Fruchter is a Vice President – Senior Credit Officer in the Financial Institutions Group of Moody’s Investors Service. Michael is responsible for a portfolio of U.S. life insurance companies and has more than20 years of life insurance experience. Prior to joining Moody’s, Michael worked as an actuary in KPMG’s Financial Risk Management group.
Michael holds a B.A. in mathematics from Yeshiva University. He is a fellow of the Society of Actuaries and a CFA charter-holder.
Helena is the lead analyst for various primary insurance and reinsurance groups based in the UK.
Prior to joining Moody’s in 2011, she worked as an auditor within the insurance department of Mazars.
Helena holds a Bachelor’s degree in mathematics and philosophy from King’s College London, is a chartered accountant and ICAEW Fellow.
Brandan is a Vice President – Senior Credit Officer in the EMEA Insurance Team, with analytical responsibility for a range of (re)insurance ratings across the EMEA region.
Brandan joined Moody’s New York office in 2010, as an analyst responsible for a diverse portfolio of US insurance and reinsurance companies. Prior to joining Moody’s, he was Assured Guaranty Ltd., responsible for accounting policy and transaction advisory services. Brandan started his career with PricewaterhouseCoopers in South Africa, later transferring to the New York office where he was a manager in the Assurance practice, primarily responsible for the audits of life insurance companies. Brandan holds a Bachelor’s degree in accounting from the University of Pretoria and a MBA in finance from New York University’s Stern School of Business. He is a Chartered Accountant (SA) and a Certified Public Accountant (NY).