On course for success

Understanding Insurance and Reinsurance Precepts Good and Proper


Insurance is a relatively well-known concept in most markets even amongst those not very well skilled in the practice of business. However even people working in the industry tend to be ignorant of its underlying principles and what makes an insurance market successful and efficient or unsuccessful and expensive. In addition many people do not understand reinsurance, which although it is a relatively simple concept to understand has some practices and technicalities that can be quite complex. This is true especially for those still new to insurance or reinsurance.

This two to three-day workshop is aimed at helping participants with one to five years insurance experience understand practical, important and foundational principles relating to the different types of insurance and reinsurance practice.

We will consider how treaties can be structured and used in the market, and most importantly the thought processes behind such practices.



Understand and have worked through examples of the following:

  • The concept of insurance, its history, development and main market centers today
  • Key underlying concepts that make insurance successful
  • The market players: clients, brokers / Agents; Insurers; RI brokers; Reinsurers
  • The markets’ structure
  • The contract of insurance how it is structured and what each part does
  • The structure of the industry and business what each role plays
  • Reinsurance
  • Regulator


Steve Murphy

has had more than 30 years in Senior Management experience first as a Senior Manager with the prestigious Munich Reinsurance Group, then with the world’s 4th largest reinsurance group, Hanover Re, where he was first a General Manager, then Chief Executive of its largest subsidiary for over 18 years.

His credentials involve having turned the smallest of its offices with revenues of only US$10million into its largest, with revenues exceeding US$375million.

His Corporate experience extends from the entrepreneurial activity of starting a business with himself and a partner through to the corporate world and the strategic leadership functions of a group of over 250 staff involving some 30 different business. These were transacted in 25 different currencies, and nations as diffuse as Egypt, Ghana, United Kingdom, Germany, France Holland, Kenya, Mauritius, Tunisia, Morocco, Israel and South Africa.

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