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Capital Markets

Suitable for asset managers investing in, or looking to invest in, ILS.

(Re)insurers

Suitable for conventional and alternative (re)insurance practitioners.

Public Officials

Suitable for public officials looking to transfer sovereign risk more efficiently.

Make More Informed Decisions With The Knowledge Of Insurance-Linked Securities

Boost your career

Whether you are new to ILS or you are an experienced industry practitioner, this course will teach you the fundamentals of Insurance-Linked Securities. The course covers the foundations of ILS, their pricing, and application in real life.

Our Vision
Our Mission
Renowned issue

The gap between economic and insured losses is wide

The protection gap, the difference between economic and insured losses, is a damning reflection on both the (re)insurance market and those responsible for managing risk.

$ 0 bn

Economic losses from natural disasters in 2023. 22% above the 21st century average.

$ 0 bn

Were insured with a disproportionate share coming from developed markets. 31% above the 21st century average.

$ 0 bn

A 69% Protection Gap – rising to 95% in developing countries

Professional development
education

The course

Our course is 100% online. When you sign up, you will have access to the Moodle LMS portal,

allowing you to learn at your own pace, wherever you are in the world.

Online

7 weeks

Fair pricing

3- or 6- month interest free payment plans available

Our UK CPD certified Insurance-Linked Securities post-graduate programme will equip you with the knowledge and develop the skills necessary to work within the ever-evolving world of Alternative Risk Transfer (ART).

You will undertake a programme that takes a theoretical and practical approach to Insurance-Linked Securities (ILS), looking at what they are, how they are used, and the role they play in narrowing the gap between economic and insured losses.

Moreover, you will learn how this uncorrelated asset class offers diversification and Environmental, Social, and Corporate Governance (ESG) benefits to institutional investors. 

Participants in the course have the opportunity to learn from leading professionals in the field of ILS, covering three core topics: ILS from the perspective of fund managers, ILS for (re)insurers, and ILS for sovereign disaster risk management. Within each area, students explore topics such as the pricing of ILS, legal considerations in different jurisdictions, and the role of ILS in reducing the gap between economic losses and insured losses in emerging and frontier markets. 

The Fundamentals of Insurance-Linked Securities (ILS) online course offers a comprehensive educational program that examines ILS from various perspectives. So far, we have successfully trained over 70 students from more than 30 countries, representing diverse sectors such as sovereign risk pools, asset management, and regulatory bodies. Given the broad nature of ILS, these groups often use different terminology, and our course serves as a bridge to overcome this language barrier. 

Recognizing that the ILS sector is still relatively young, we believe in delivering an inclusive course that caters to individuals with varying levels of experience and expertise. Whether participants are seasoned industry professionals looking to expand their knowledge and network, or individuals outside the ILS sector seeking to learn more, our course accommodates all. 

We offer a flexible learning environment with two live lectures per week, supplemented by a video archive of over 24 hours of pre-recorded content. Our platform serves as a comprehensive education hub, offering all the necessary resources on one accessible platform. 

One standout feature of our course is the unparalleled access students gain to esteemed industry professionals. In addition to an investor day, during which four prominent experts share their perspectives on ILS, we invite guest speakers, including renowned ILS lawyers, representatives from sovereign risk pools and leading academics. This unique opportunity allows students to learn directly from experienced practitioners and gain deeper insights from their expertise and real-world experiences. 

Typically, the majority of participants in the ILS market have come from the (re)insurance sector. However, in recent years, there has been a notable shift with sovereign nations increasingly adopting parametric structures. While the (re)insurance and ILS markets have been instrumental in facilitating this transition, there is still room for improvement. The primary challenge lies in education. Are enough people aware of the advantages of risk transfer, particularly in vulnerable regions? And is the insurance sector sufficiently educating these groups about the benefits offered by the (re)insurance and ILS market? 

The answers to these questions remain subject to debate. However, through the Fundamentals of Insurance-Linked Securities (ILS) course, we aim to contribute by educating individuals about the advantages offered by the ILS market. Our course serves as a platform to enhance understanding and knowledge among those interested in exploring the potential benefits of ILS. By raising awareness and imparting knowledge, we hope to play a role in educating individuals about the opportunities derived from the ILS market.

Curriculum
FOR the

Course

  • First ever (and so far the only) global executive education and certification programme in Insurance-Linked Securities (ILS) 
  • 3 online cohorts per annum (mid-January, mid-April & mid-October) and 5-days in-person Swiss summer school on 22-26th July’24
  • Next online group starts: 15th October 2024
  • Duration: 7 weeks, 100% online
  • Commitment: 6-8 hours per week
  • Fee: Gross average monthly wage in the participant’s country (get in touch if in doubt)
  • Inform you on how to use ILS in theory and practice
  • Develop a better understanding of when and why ILS are more suitable than traditional methods of risk transfer
  • Critically evaluate investment projects and opportunities relating to ILS
  • Speak the international language of ILS
  • Why Risk Transfer is so Important;
  • Introduction to Insurance-Linked Securities;
  • ILS Peak perils presentation;
  • Catastrophe Bonds – Case study;
  • Legal issues in ILS;
  • Reading a Reinsurance Tower. Basis Risk between Trigger Types. Bond Spreads. Bond Pricing Fundamentals;
  • Industry Loss and Industry Loss Warranties (ILW);
  • How ILS are used today. Marketplace overview. ILS in investor portfolio;
  • ILS Fund Managers’ Perspective;
  • Pricing: Bottom-up perspective. Top-down perspective. Relative Value (RV). Live demo of ILS Pricing Model;
  • ILS for (re)insurers: Traditional credit risk. Credit risk for (re)insurers. Collateralization. Diversified source of capital. Accessing new territories. 
  • Sovereign Disaster Risk Management: Insurance penetration data. CCRIF. The Pacific Alliance. 
    Pandemic Emergency Financing Facility (PEF). Africa Risk Capacity (ARC); 
  • ILS & ESG;
  • Qualifying Exam, comprising 50 multiple choice questions to be answered within 3 hours time.
  • Kirill Savrassov, MSc., LLB (Hons.), Cert ILS/AMS & Toby Pughe, FCII – founders & co-lecturers
  • Industry leading experts as guest speakers from both the private and public sector at the end of each module.
    To learn more go to Faculty Page

This course is entirely online.

Modules are released weekly and can be undertaken in your own time, wherever you are in the world. This interactive course has been designed for busy professionals and students alike.

When enrolled, you will have access to the Moodle learning portal, and you’ll be able to work at your own pace, whenever and wherever you like.

Upon successful completion of the program, you’ll receive a formal Certificate as proof of your knowledge of the subject and a «Cert ILS» (Certified ILS Specialist) designation to underline your ILS knowledge commitments.

The content of this course has been certified by the CPD Certification Service as conforming to continuing professional development principles and may be applicable to individuals who are members of, or are associated with, UK-based professional bodies. The course has an estimated 60 hours of learning. To learn more on UK CPD click HERE.

To learn more VISIT our CPD Page.

Please Note: Should you wish to claim CPD activity, the onus is upon you. Phoenix CRetro Limited accept no responsibility, and cannot be held responsible, for the claiming or validation of UK CPD hours or points.

Look forward
to see you

the Fundamentals of Insurance-Linked Securities post-graduate course

Formal Certificate
"Cert ILS Specialist" designation on successful course completion
60 CPD hours/points to claim

Next (autumn) online cohort to start on the 15th of october 2024
Time left to join:
Days
Hours
Minutes
To enroll or ask questions
Flag_of_Switzerland.svg
In-person
swiss

Insurance-Linked Securities
Summer school

diploma in ILS & international designation
STARTS 22ND JULY 2024
LAUSANNE-ZURICH-GENEVA
TIME LEFT TO JOIN:
Days
Hours
Minutes
To enroll or ask questions
Geography
and occupation

of our participants

Testimonials
from our alumni and partners

What They Say

Organizations
our alumni & participants

Work for

Industry Cases
examples

some notable Parametric Payouts

African nations to receive insurance payouts from historic drought
African Risk Capacity (ARC) has revealed that Malawi, Mozambique, Zambia and Zimbabwe are likely to receive insurance payouts from the ongoing drought in the region, which is one of the worst in decades.
Click Here
2023 Hurricane season in Caribbean
CCRIF parametric payouts reach $266.8m after $4.9m for 2023 Atlantic storms
Click Here
Tonga 2022
The Pacific Island nation of Tonga will receive a US $8 million payout disbursement from a World Bank arranged catastrophe contingent line of credit, under a Catastrophe-Deferred Drawdown Option, or CAT-DDO.
Click Here
Phillipines 2021
The government of the Philippines has drawn $80 million to help in the recovery from super typhoon Rai (Odette) from the World Bank supported catastrophe contingent line-of-credit it has in place through a Catastrophe-Deferred Drawdown Option arrangement, dubbed the CAT-DDO 4.
Click Here
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