The objective of this subject is to deepen theoretically and conceptually in specific aspects related to the life insurance activity for the assessment of solvency and, specifically, the profitability of an insurance company. The target is to provide students with the ability to efficiently solve and understand any aspect of actuarial practice related to these aspects using the most recent statistical-mathematical tools and models. In order to achieve this fundamental objective, the student, at the end of the course must have reached a series of knowledge, skills and attitudes that are detailed below: CAPABILITIES - Know the actuarial valuation criteria in life insurance. - Ability to measure and assess the solvency of life insurance entities. - Ability to use "profit testing" as a model for profitability analysis in companies. - Ability to perform sensitivity analysis using accounting data and projections. - Ability to make future projections of income and expenses through different methodologies for assessment with the solvency criteria II. - Ability for analysis and synthesis. - Ability to organize and plan work. - Ability to solve complex problems of usual actuarial practice. - Teamwork. - Enhance the ability of oral and written expression. - Ability to communicate with experts from other areas. - Ethical commitment.

1 PROFIT TESTING. 2 BEST ESTIMATE ASSUMPTION AND DISCOUNT CURVE - NON MARKET ASSUMPTIONS: LAPSE, PUP, MORTALITY, LONGEVITY - MARKET ASSUMPTION: ECONOMIC SCENARIOS AND DISCOUNT CURVES 3 MARKET CONSISTENT EMBEDDED VALUE (MCEV) - CFO FORUM PRINCIPLES - VIF: PVFP, TVOG, FCRC, CRNHR - FREE SURPLUS. 4 MARKET VALUE BALANCE SHEET (MVBS) - MARKET VALUE LIABILITY AND COMPONENTS - MARKET VALUE ASSET - RISK MARGIN 5 MOVEMENT ANALYSIS AND RECONCILIATION BETWEEN MCEV Y MVBS. 6 INTRODUCTION TO IFRS 17: VALUATION OF INSURANCE CONTRACTS AND COMPONENTS

Theoretical classes with support material available on the University Web (guides / power points and exercises, basic bibliography and complementary material to deepen in those topics in which the students are most interested). The fundamental theoretical and practical concepts of the subject that the student must acquire will be developed, and will solve exercises by the teacher, encouraging the active participation of students in the resolution of the same (both individually and as a team).