Own Risk and Solvency Assessment (ORSA) & Enterprise Risk Management (ERM)

Bucureşti 14 November 2016 - 15 November 2016

Trainer: Luís Portugal


The workshop aims to enable an understanding of the ERM and the ways to implement it, leading its participants to understand:

• What is the ERM

• What are the major ERM components

• How can we implement ERM in insurance companies

The workshop will have 10 hours with a strong practical component and a permanent tutorship.

Target group

Board of Directors, Managers, Chief Risk Officers, Chief Financial Officers, Human Resources Directors, Internal Audits, Actuaries, Compliance Departments, Technical and Financial Areas and IT departments and any person involved or with interest in understanding what is Enterprise Risk Management.

Course objectives

Acquiring of knowledges  regarding ORSA model, using the tools and methods of the ERM process.


1. Insurer’s Risks and Risk Framework
2. What is ERM and Why Shall We Have It
3. The Major ERM Components
• Corporate Governance
• Product Management
• Portfolio Management
• Risk Transfer
• Information Systems
• Stakeholders Management
4. Implementing ERM
• How to Choose the Best Approach
• Gap Analysis and Strategic Planning
• Governance Structure
• Risk Concepts and the Risk Model
• Risk Appetite Statement
• Risk Control, Risk Mitigation and Risk Budgeting
• Reporting and Monitoring (ORSA)
• Creation of a Risk Culture and Stakeholders Communication
• Product Design, Underwriting and Claims
• Capital Management


The workshop will be held by Luís Portugal. Partner and Managing Director of ACTUARIAL Group. He is specialized in conducting consulting work to insurers and also Lecturer at the University of Barcelona and a Researcher at the University  of Liverpool. Luís Portugal was CEO of two insurance companies, director of the Portuguese Association of Insurers and Chairman of the Portuguese Institute of Actuaries.  He was Consulting/Appointed/Audit Actuary and Risk Manager on more than forty insurers.

Duration / Period

The program will last 10 hours and will take place on November 14, from 9 am to 4 pm, and November 15, 2016 from 9 am to 1 pm.


The investment for this program is of 370 Euro + VAT/participant and includes: course materials, coffee break, lunch and participation certificate.


At the above fee the following discount will be granted:

  • 5% for registration and payment of the fee until the 6th of October 2016;
  • 5% for the registration of at least 2 persons from the same organization.

The discounts can be cumulated.

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