On The Measurement Of Solvency Of Insurance Companies
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On The Measurement Of Solvency Of Insurance Companies
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Author : Craig Thorburn
language : en
Publisher: World Bank Publications
Release Date : 2004
On The Measurement Of Solvency Of Insurance Companies written by Craig Thorburn and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Finance categories.
On The Measurement Of Solvency Of Insurance Companies
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Author : Craig C. Thorburn
language : en
Publisher:
Release Date : 2016
On The Measurement Of Solvency Of Insurance Companies written by Craig C. Thorburn and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Solvency - both as an economic requirement in the market and as a regulatory and supervisory tool - is critical to all insurance markets. Current market conditions, coupled with expected institutional changes, will place particular burdens on emerging and developing markets. Institutional solvency, effective risk management within companies, effective supervisory oversight, and the development of market disciplines are all linked. Thorburn proposes that the effective implementation of the emerging regime needs a careful and diligent phased process of capacity-building. The first priorities are identified as a strong supervisor, a basic solvency margin requirement, and the initiation of efforts to gather appropriate data sets. This can be followed by advancing development of more sophisticated solvency regulation, increased use of technical expertise, and increased use of market disciplines as the community and financial markets become more able to exercise such discipline.This paper - a product of the Financial Sector Operations and Policy Department - is part of a larger effort in the department to study the influence of insurance sector developments in emerging and developing economies.
On The Measurement Of Solvency Of Insurance Companies
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Author : Craig Thorburn
language : en
Publisher:
Release Date : 2013
On The Measurement Of Solvency Of Insurance Companies written by Craig Thorburn and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Solvency-both as an economic requirement in the market and as a regulatory and supervisory tool-is critical to all insurance markets. Current market conditions, coupled with expected institutional changes, will place particular burdens on emerging and developing markets. Institutional solvency, effective risk management within companies, effective supervisory oversight, and the development of market disciplines are all linked. The author proposes that the effective implementation of the emerging regime needs a careful and diligent phased process of capacity-building. The first priorities are identified as a strong supervisor, a basic solvency margin requirement, and the initiation of efforts to gather appropriate data sets. This can be followed by advancing development of more sophisticated solvency regulation, increased use of technical expertise, and increased use of market disciplines as the community and financial markets become more able to exercise such discipline.
Insurance Solvency Supervision Oecd Country Profiles
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2002-04-03
Insurance Solvency Supervision Oecd Country Profiles written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-04-03 with categories.
This publication synthesises contributions made by the 30 OECD countries on national regulation of insurance solvency supervision, its practical organisation and the measures taken when difficulties arise. It also contains a comparative analysis of the various systems of solvency supervision.
Policy Issues In Insurance Assessing The Solvency Of Insurance Companies
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2003-07-23
Policy Issues In Insurance Assessing The Solvency Of Insurance Companies written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-07-23 with categories.
This book presents an in-depth analysis on the assessment and the management of the major technical and financial risks insurance companies have to face.
Value Oriented Risk Management Of Insurance Companies
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Author : Marcus Kriele
language : en
Publisher: Springer Science & Business Media
Release Date : 2014-01-14
Value Oriented Risk Management Of Insurance Companies written by Marcus Kriele and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-14 with Business & Economics categories.
Value- and risk-oriented management is a holistic method of managing businesses. In this book both actuarial methods and methods pertaining to classical internal control and classical risk management are used. Therefore the approach taken is necessarily interdisciplinary. Indeed, there is a new dynamically developing field for actuaries as a result of the emphasis now on the measurement of risk. This book provides the required basic knowledge for this subject from an actuarial perspective. It enables the reader to implement in practice a risk management system that is based on quantitative methods. With this book, the reader will additionally be able to critically appraise the applicability and the limits of the methods used in modern risk management. Value-oriented Management of Risk in Insurance focuses on risk capital, capital allocation, performance measurement and value-oriented management. It also makes a connection to regulatory developments (for example, Solvency II). The reader should have a basic knowledge of probability and familiarity with mathematical concepts. It is intended for working actuaries and quantitative risk managers as well as actuarial students.
Macroprudential Solvency Stress Testing Of The Insurance Sector
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Author : Mr.Andreas A. Jobst
language : en
Publisher: International Monetary Fund
Release Date : 2014-07-22
Macroprudential Solvency Stress Testing Of The Insurance Sector written by Mr.Andreas A. Jobst and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-22 with Business & Economics categories.
Over the last decade, stress testing has become a central aspect of the Fund’s bilateral and multilateral surveillance work. Recently, more emphasis has also been placed on the role of insurance for financial stability analysis. This paper reviews the current state of system-wide solvency stress tests for insurance based on a comparative review of national practices and the experiences from Fund’s FSAP program with the aim of providing practical guidelines for the coherent and consistent implementation of such exercises. The paper also offers recommendations on improving the current insurance stress testing approaches and presentation of results.
Classical Insurance Solvency Theory
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Author : J. David Cummins
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Classical Insurance Solvency Theory written by J. David Cummins and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
The problem of solvency is, in fact, as old as insurance. The history of the industry knows many ways to meet the risks involved with underwriting, such as spreading the risk portfolio (Cato, Senior already applied it), risk selection, reserve funds, reinsurance, etc. Whilst these measures too often proved ineffective, the establish ment of legislative control and public supervision ensued. However, not until the last few decades has the solvency issue become an ob ject of intensive studies, very much thanks to the progress of related empirical and theoretical knowledge, and in the under standing of the concerned complicated processes. The research activities have grown extensively in many countries in recent years. The more the studies advance the more new relevant aspects are detected and a great variety of alternative proposals have come up for discussion. Therefore, it has become necessary to attempt a survey of the whole problem area in order to be able to place the quite numerous pieces of knowledge in their proper context, and also, among other things, to avoid the pitfalls of handling isolated problems omitting vital tie-ins to the environment. Many of the rele vant problems and subproblems are still lacking adequate and well tested solutions. Therefore, a survey of the whole problem area can also hopefully serve as guidance for future research efforts.
Solvency Ii In The Insurance Industry
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Author : Maria Heep-Altiner
language : en
Publisher: Springer
Release Date : 2019-02-22
Solvency Ii In The Insurance Industry written by Maria Heep-Altiner and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-22 with Business & Economics categories.
This book illustrates the EU-wide Solvency II framework for the insurance industry, which was implemented on January 1, 2016, after a long project phase. Analogous to the system for banks, it is based on three pillars and the authors analyze the complete framework pillar by pillar with a consistent data model for a non-life insurer, which was developed by the Research Group Financial & Actuarial Risk Management (FaRis) at the Institute for Insurance Studies of the TH Köln - University of Applied Sciences. The book leverages the long-standing and close cooperation between the University of Limerick (Ireland) and the Institute for Insurance Studies at TH Köln - University of Applied Sciences (Germany).
Identifying Scenarios For The Own Risk And Solvency Assessment Of Insurance Companies
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Author : Philipp Aigner
language : en
Publisher:
Release Date : 2023
Identifying Scenarios For The Own Risk And Solvency Assessment Of Insurance Companies written by Philipp Aigner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
Most insurers in the European Union determine their regulatory capital requirements based on the standard formula of Solvency II. However, there is evidence that the standard formula inaccurately reflects insurers' risk situation and may provide misleading steering incentives. In the second pillar, Solvency II requires insurers to perform a so-called “Own Risk and Solvency Assessment” (ORSA). In their ORSA, insurers must establish their own risk measurement approaches, including those based on scenarios, in order to derive suitable risk assessments and address shortcomings of the standard formula. The idea of this paper is to identify scenarios in such a way that the standard formula in connection with the ORSA provides a reliable basis for risk management decisions. Using an innovative method for scenario identification, our approach allows for a simple but relatively precise assessment of marginal and even non-marginal portfolio changes. We numerically evaluate the proposed approach in the context of market risk employing an internal model from the academic literature and the Solvency Capital Requirement (SCR) calculation under Solvency II.