Asset Liability Management for Insurance Industry

Master IFRS 17-Era ALM: Cash Flows, Risk, SAM/Solvency II Regulation, and Practical Case Studies

Platform:

Online

In-class

Revised and Updated: 23 October 2026

Date	Venue	Duration
15 - 19 February 2027	Sandton, Gauteng	5 Days
08 - 12 March 2027	Sandton, Gauteng	5 Days
05 - 09 April 2027	Sandton, Gauteng	5 Days
17 - 21 May 2027	Sandton, Gauteng	5 Days
28 June - 02 July 2027	Sandton, Gauteng	5 Days
16 - 20 August 2027	Sandton, Gauteng	5 Days
27 September - 01 October 2027	Sandton, Gauteng	5 Days
11 - 15 October 2027	Sandton, Gauteng	5 Days
08 - 12 November 2027	Sandton, Gauteng	5 Days

Course Introduction

Prospen Africa’s Asset Liability Management for Insurance Industry programme has been designed to discuss concepts and case studies on Asset Liability Management (ALM) for the insurance industry. The course covers ALM concepts such as cash flows and risks of insurance products (assets and liabilities), applicable regulatory and capital guidelines, case studies, and current trends and developments. The workshop is both conceptually sound

This course delivers both conceptual grounding and hands-on, practical application throughout.

Course Objectives

Attend this comprehensive training programme to:

Benchmark your institution by examining ALM success factors
Understand key performance indicators for ALM and Risk Management
Gain practical insights into how leading institutions are utilising ALM for value creation
Examine how cash flows and risks of insurance products affect ALM, including the impact of IFRS 17
Discuss global and South African best practices in ALM, including SAM (Solvency Assessment and Management)
Provide optimal oversight of the Risk Management function

Who should attend?

ALCO Members
Asset Liability Managers
Liquidity Managers
Non-Executive Directors
Audit Committee and Risk Committee Members
Chief Risk Officers of Insurance Companies and Asset Management Companies
Treasurers and Treasury Management
Chief Financial Officers
Finance Managers and Financial Controllers
Management Accountants and Treasury Analysts
Financial Accountants
Insurance Industry Regulators
Pension Fund Managers
Investment Professionals
Budgeting and Planning Executives

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Day 1: Overview of Asset-Liability Management (ALM)

Module 1: Introduction to ALM

Key terms; ALM defined
Benefits and limitations of ALM
On and off-balance sheet risks
Practical session: Discuss ALM context for your organisation.

Module 2: Applicable Regulations in the Insurance Industry

Introduction to insurance regulation, and regulatory measures
Capital regulation and future advances
Solvency II requirements (EU framework)
South Africa's Solvency Assessment and Management (SAM) framework — broadly aligned with, but not identical to, Solvency II and IFRS 17

Module 3: Composition of the Asset-Liability Portfolio for Insurers

Asset portfolio and liability portfolio
Balance sheet optimisation and ratios
Practical session: Prepare a visual representation of the Asset-Liability portfolio for an insurer.

Day 2: ALM Model Components — Pillar I

Module 4: Overview of the ALM Model Components (Pillar I to Pillar III)

Pillar I: ALM Organisation
Pillar II: ALM Management Process and Measurement Tools
Pillar III: ALM Information Systems

Module 5: Pillar I: ALM Organisation

Level of top management involvement
Governance structures and decision-making (Asset-Liability Management Committee, ALCO)
ALM role-players
Link between ALM and Enterprise Risk Management
Link between ALM and Capital Management
Practical session: Develop an ALCO terms of reference.

Day 3: Pillar II & III — Process, Measurement, and Hedge Accounting

Module 6: Pillar II: ALM Process and Measurement Tools

The ALM process
Measurement tools: yield curve analysis, interest gap analysis, simulation and scenario analysis, duration analysis, and other tools
Practical session: Simulation and scenario analysis exercise.

Module 7: Pillar III: ALM Information Systems

Management information systems, data quality, and reporting
Practical session: List ALM reports and identify key data sets.

Module 8: Hedge Accounting

Hedged items and hedging instruments under IFRS 9, General Hedge Accounting — the current operative standard, which replaced IAS 39 for most entities
Background: the previous IAS 39 approach, retained here for historical context and legacy comparisons
Cash flow hedges and fair value hedges
Hedges of a net investment in a foreign operation
New hedge accounting model and changes from the IAS 39 approach
Risk management objective and hedge strategy
Hedge effectiveness requirements
Hedge ratio: measurement, adjustments, rebalancing
Discontinuance of hedge accounting

Day 4: Implementation and Interpretation of Relevant IFRS Standards

Module 9: IFRS 17, Insurance Contracts

Effective 1 January 2023, replacing IFRS 4 as the primary accounting standard for insurance contracts — a fundamental change directly affecting ALM practices, risk exposure, capital requirements, and strategic capital planning
The General Measurement Model, Premium Allocation Approach, and Variable Fee Approach
Contract boundaries and their impact on measurement of insurance liabilities, capital, and solvency
Discount rate determination and its interaction with Solvency II/SAM and existing embedded value reporting
Interaction between IFRS 17 and South Africa's SAM framework

Module 10: IFRS 9

Classification of financial instruments
Treatment of financial assets, including equity instruments
Treatment of financial liabilities

Module 11: IFRS 10

Control, power, variable returns
Substantive and protective rights
Reviewing shareholders' agreements and identifying salient points
De facto control: dispersion of shareholdings
Decision makers: principal or agent?
Definition of Investment Entity: the three requirements
Business purpose and exit strategy
Investment entities as subsidiaries and parents
Amendments to IFRS 10, IFRS 12, and IAS 28: investment entities and consolidation exception

Module 12: IFRS 11 & IAS 28

Joint arrangements: joint ventures or joint operations
Consideration of separate vehicles
Joint control and the link with IFRS 10
Accounting for joint ventures: equity accounting
IAS 28 revised: equity accounting
Accounting for joint operations
Equity method in separate financial statements: IAS 27 amendment

Day 5: Other IFRS Considerations and Case Studies

Module 13: Other IFRS Standards Relevant to Insurers

IFRS 14, Regulatory Deferral Accounts
IAS 16 & IAS 38: depreciation and amortisation
IAS 19: discount rate and regional market issues, and treatment of employee contributions
IFRS 3 and IAS 40: businesses and investment properties
IAS 24: related party disclosures, key management personnel service
IAS 34, Interim Financial Reporting: disclosure
IAS 36: recoverable amount disclosures
IAS 16 & IAS 41: accounting for bearer plants
IFRIC 21, Levies

Module 14: Applied Practice

Consolidated case study: applying IFRS 17, IFRS 9, and SAM/Solvency II considerations to a sample insurer's ALM framework
Group discussion: current trends and developments in insurance ALM

Course Categories

Office Administration Courses ❯ Audit, Risk And Governance ❯ Compliance Courses ❯ Finance Courses ❯ Human Resources Training & Development ❯ View All Course Categories ❯

Course Registration Guide

Everything you need to know about registering for a Prospen training course.

View Registration Guide

Success Stories

Discover how our courses enhance professionals’ effectiveness in their workplaces.

uMngeni-uThukela Water

IFRS Updates Trainings

What made the sessions exceptionally helpful was the deliberate focus on actionable strategies rather than just high-level concepts. The structured approach kept the content engaging. It was a highly impactful professional development experience.

Telekom Networks Malawi Plc

Financial Analysis, Modelling and Forecasting

It has been a really fruitful and helpful training. Many thanks to PROSPEN AFRICA and the facilitator Olufemi. This is definitely going to make my work life easier and meaningful.

Northam Booysendal Mine

Mastering Payroll Preparation, Analysis, and Management

The course really taught us deep in to Payroll and made us aware of things we were not aware of.

Telekom Networks Malawi PLC

Financial Analysis, Modelling and Forecasting

The training was very insightful and the facilitator was very engaging which made everything easier to understand and follow. It has really equipped us in our areas of lack and we feel confident now on our next assignments on forecasts and analysis

Magalies Water

GRAP training

The course was practical, informative and relevant

View All Reviews

FAQs – Asset Liability Management for Insurance Industry

Master duration matching, cash flow modeling, regulatory capital requirements, and interest rate risk hedging to align asset-liability portfolios and protect solvency in the insurance sector.

What topics are covered in the Asset Liability Management for Insurance Industry course?

The course covers insurance asset-liability management (ALM) frameworks, cash flow matching, duration and convexity analysis, solvency regulatory requirements (such as SAM), liquidity risk management, and investment portfolio optimization for insurers.

Who should attend this Asset Liability Management for Insurance training?

This training is designed for actuaries, risk managers, chief investment officers (CIOs), chief financial officers (CFOs), portfolio managers, compliance officers, and finance professionals operating within life and non-life insurance sectors.

How does this course help insurers align asset portfolios with liability structures?

Delegates learn practical techniques to match the duration, currency, and cash flow profiles of investment assets with policyholder liabilities, minimizing reinvestment risk and protecting insurer solvency.

Will delegates learn how to navigate regulatory solvency frameworks?

Yes. The curriculum explores meeting Solvency Assessment and Management (SAM) or equivalent regulatory capital requirements, stress testing balance sheets, and managing capital adequacy ratios under market volatility.

Does the masterclass address interest rate risk and hedging strategies?

Yes. Practical sessions cover evaluating interest rate risk sensitivities, using derivatives for balance sheet hedging, managing yield curve shifts, and optimizing investment returns within strict risk appetite limits.

Why is robust asset-liability management critical for insurance companies?

Effective ALM ensures insurance firms maintain sufficient liquidity to honor policyholder claims, comply with stringent regulatory standards, protect investment capital, and ensure long-term financial stability.

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Asset Liability Management for Insurance Industry

Master IFRS 17-Era ALM: Cash Flows, Risk, SAM/Solvency II Regulation, and Practical Case Studies

Course Objectives

Who should attend?

Course Outline

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Course Introduction

Course Objectives

Who should attend?

Training Methodology

Training Outline

Course Categories

Course Registration Guide

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Success Stories

IFRS Updates Trainings

Financial Analysis, Modelling and Forecasting

Mastering Payroll Preparation, Analysis, and Management

Financial Analysis, Modelling and Forecasting

GRAP training

FAQs – Asset Liability Management for Insurance Industry

Related Courses

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