Solvency
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Solvency
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Author : Arne Sandstrom
language : en
Publisher: CRC Press
Release Date : 2005-09-19
Solvency written by Arne Sandstrom and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-09-19 with Mathematics categories.
Until now there were no published analyses of the recent solvency work conducted in Europe, specifically the risk categories proposed by the International Actuarial Association (IAA). Answering the insurance industry's demand in the wake of the EU Solvency II project, Solvency: Models, Assessment and Regulation provides a concrete summary and review of solvency and inspires additional work in the field. Following an introduction to the concept, the first section of the book provides a historical review of solvency, detailing solvency regulation and accounting within the EU. A review of the steps leading to Solvency II looks at accounting, supervision, the actuarial field, the first phase of Solvency II, international approaches to banking, and the solvency systems of 12 major nations. The second section explores the current basis for solvency modeling, focusing on the valuation of assets and liabilities, dependency and various conservative approaches, as well as a baseline and benchmark approach. This section also provides examples of risk structure and the effects of diversification. The final section discusses groups and internal modeling as it relates to EU Solvency II. It addresses insurance groups, financial conglomerates, reinsurance, the importance of internal modeling and stress testing, and the current state of the second phase of EU Solvency II.
Solvency In Financial Accounting
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Author : Julie E. Margret
language : en
Publisher: Routledge
Release Date : 2011-12-22
Solvency In Financial Accounting written by Julie E. Margret and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-22 with Business & Economics categories.
This book examines the notion of solvency at law and in accounting; and reveals inconsistent ways of determining solvency therein. Solvency is a critical commercial financial attribute. Quantifying solvency has been of concern to many across time, particularly with regard to business continuity. This study demonstrates that conventional financial statements are deficient in establishing the financial state of an entity, and equally lacking in quantifying its state of solvency. The book contributes to the literature by drawing on real-world observations of how the meshing of commercial and legal foundations creates the environment in which accounting must serve. The aim of this work is to provide insights into what changes to existing financial reporting systems might assist business in mitigating unexpected business failures and the criticism of accounting in the aftermath. Drawing mainly on major Australian cases, links highlight associations between the language of accounting and the data in financial statements; and situations that may be generalised - that have international significance. Hence, this work is relevant to the interests of a wide range of readers. It is also important from a public policy perspective as regulators grapple with a commercial environment heavily influenced by sometimes perceived scandalous corporate activity. Solvency is a topical and ongoing issue for business and financial accounting.
Executive S Guide To Solvency Ii
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Author : David Buckham
language : en
Publisher: John Wiley & Sons
Release Date : 2010-11-02
Executive S Guide To Solvency Ii written by David Buckham and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-02 with Business & Economics categories.
A straightforward guide to the evolution, benefits, and implementation of Solvency II Providing a guide to the evolution, practice, benefits, and implementation of Solvency II, Executive′s Guide to Solvency II deftly covers this major European regulation which ensures that insurers can meet their risk–based liabilities over a one–year period to a 99.5% certainty. Part of the Wiley and SAS Business series, this book will guide you through Solvency II, especially if you need to understand the subtleties of Solvency II and risk–based capital in basic business language. Among the topics covered in this essential book are: Background to Solvency II Learning from the Basel Approach The Economic Balance Sheet Internal Models People, Process, and Technology Business Benefits of Solvency II Executive′s Guide to Solvency II has as its aim an explanation for executives, practitioners, consultants, and others interested in the Solvency II process and the implications thereof, to understand how and why the directive originated, what its goals are, and what some of the complexities are. There is an emphasis on what in practice should be leveraged upon to achieve implementation, specifically data, processes, and systems, as well as recognition of the close alignment demanded between actuaries, the risk department, IT, and the business itself.
Liquidity At Risk Joint Stress Testing Of Solvency And Liquidity
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Author : Rama Cont
language : en
Publisher: International Monetary Fund
Release Date : 2020-06-05
Liquidity At Risk Joint Stress Testing Of Solvency And Liquidity written by Rama Cont 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 2020-06-05 with Business & Economics categories.
The traditional approach to the stress testing of financial institutions focuses on capital adequacy and solvency. Liquidity stress tests have been applied in parallel to and independently from solvency stress tests, based on scenarios which may not be consistent with those used in solvency stress tests. We propose a structural framework for the joint stress testing of solvency and liquidity: our approach exploits the mechanisms underlying the solvency-liquidity nexus to derive relations between solvency shocks and liquidity shocks. These relations are then used to model liquidity and solvency risk in a coherent framework, involving external shocks to solvency and endogenous liquidity shocks arising from these solvency shocks. We define the concept of ‘Liquidity at Risk’, which quantifies the liquidity resources required for a financial institution facing a stress scenario. Finally, we show that the interaction of liquidity and solvency may lead to the amplification of equity losses due to funding costs which arise from liquidity needs. The approach described in this study provides in particular a clear methodology for quantifying the impact of economic shocks resulting from the ongoing COVID-19 crisis on the solvency and liquidity of financial institutions and may serve as a useful tool for calibrating policy responses.
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.
Handbook Of Solvency For Actuaries And Risk Managers
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Author : Arne Sandström
language : en
Publisher: CRC Press
Release Date : 2016-04-19
Handbook Of Solvency For Actuaries And Risk Managers written by Arne Sandström and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-19 with Business & Economics categories.
Reflecting the author's wealth of experience in this field, Handbook of Solvency for Actuaries and Risk Managers: Theory and Practice focuses on the valuation of assets and liabilities, the calculation of capital requirement, and the calculation of the standard formula for the European Solvency II project.The first three sections of the book examin
Classical Insurance Solvency Theory
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Author : J. David Cummins
language : en
Publisher: Springer Science & Business Media
Release Date : 1988-05-31
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 1988-05-31 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.
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.
Solvency Compendium
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Author :
language : en
Publisher: Andrew Smith
Release Date : 2008-07
Solvency Compendium written by and has been published by Andrew Smith this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-07 with categories.
A solvency opinion provides assurance to a company's Board of Directors and/or the lenders that the transaction will not likely subject the Company and its unsecured and other creditors to undue financial distress. Houlihan will undertake a solvency opinion engagement for companies involved in highly leveraged transactions. Examples include leveraged buyouts, leveraged recapitalizations, leveraged dividends or other such situations where there may be minimal equity involved. Houlihan has also completed solvency opinions for spin-off transactions in conjunction with capital restructuring and significant debt refinancing.The Federal Bankruptcy Code defines "insolvent" as the condition in which the total of a person's debts exceeds the value of its property at a fair valuation. Recent case law suggests that the fair valuation of property is its value on a going-concern basis. A solvency letter expresses an independent expert opinion on a borrower's ability to remain solvent under the burden of additional liability, to pay debts as they mature, and to continue operations as a going-concern in dynamic economic conditions.In connection with a leveraged recapitalization, interested parties such as new secured lenders and sellers will often, due to fraudulent conveyance concerns, seek an independent determination and opinion as to the impact of the acquisition debt on working capital, cash flow, and equity value. Houlihan is highly familiar with the Tests of Capitalization and Solvency and is able to efficiently and cost-effectively provide analysis that provides a layer of comfort to interested parties.
Solvency Ii
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Author : Gabrielle O'Donovan
language : en
Publisher: Routledge
Release Date : 2017-03-02
Solvency Ii written by Gabrielle O'Donovan and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-02 with Business & Economics categories.
With the Solvency II deadline approaching, and full implementation expected from January 2016, affected entities are at varying states of readiness with embedding Solvency II into everyday practices becoming a major focus. Programme stakeholder communications needs to be robust to secure compliance and buy-in on both internal and external fronts. If your CEO fails to communicate to the markets your organization's ability to deliver on the EU Directive, or if a local Regulator finds that your Board has failed to embed a risk culture that is aligned with Solvency II, your ability to operate in the Solvency II world will be questioned. Solvency II: Stakeholder Communications and Change explains how to negate such risks. Gabrielle O'Donovan demonstrates how to approach stakeholder communications and change management in a structured and disciplined way, framed by the EU Directive's governance requirements. She demonstrates how to use a variety of tools and techniques to engage people with change and embed new ways of doing things. She reveals how to embed risk consciousness into your culture, helping you secure Solvency II approval and operate successfully in the Solvency II world. Based on the author's original research and the latest industry developments, Solvency II: Stakeholder Communications and Change is well-structured, readable and above all essential for all involved in Solvency II implementation.