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World Bank workshop Albania

Updated: Mar 12

For the second time the Albanian Financial Supervisor asked Prime Re Solutions to deliver a Solvency II training; see our news from July 2022. This time it also invited participants from the Albanian insurance market to join.

Here is the compilation of the 3 days event from the World Bank:

The World Bank in cooperation with the Albanian Financial Supervisory Authority (AFSA) organized a three-day workshop on "Technical Provisions of Non-Life Insurance under Solvency II". This event took place in Tirana from February 28 to March 1, 2024, as part of Albania Financial Resilience and Development Project financed by SECO under the F4D Umbrella Program.

The workshop kicked off with an address from the AFSA director, setting the stage for three days of intensive learning for 40 participants including 28 actuaries and finance managers from insurance companies and 12 AFSA participants, including the managers and staff from Risk Management and Insurance Supervision Directorates.

The event featured insightful presentations by two distinguished lecturers and actuaries, Dr. Frank Cuypers, and Simone Dalessi of Prime Re Solutions, Switzerland, offering theoretical concepts and practical applications.

Participants were treated to comprehensive presentations covering a range of topics, including Solvency II technical provisions, the transition from claims to provisions, provisioning risk, methods of provisioning, validation of provisions, and the impact of calendar year effects.

A highlight of the event was the interactive Excel tool provided, offering practical insights into all the concepts discussed. This hands-on approach allowed participants to engage directly with the material, enhancing their comprehension and retention.

Throughout the workshop, exercises and tests were administered, ensuring active involvement from all attendees. This interactive format facilitated deeper learning and provided opportunities for participants to apply their newfound knowledge in real-world scenarios.

Feedback from participants was very positive, with a survey indicating high satisfaction levels. The event was praised for its informative content, engaging delivery, and practical relevance. Overall, the workshop proved to be a valuable resource for insurance professionals, in line with the high-level Solvency II roadmap developed by AFSA with the WBG support.

If you would like some more information please see the following links:

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