Insurance Company Financial Risk Analysis

Author : Alexander Melnikov
Publisher : CRC Press
Page : 267 pages
File Size : 52,5 Mb
Release : 2004-06-02
Category : Mathematics
ISBN : 9781135437459

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Risk Analysis in Finance and Insurance by Alexander Melnikov Pdf

Historically, financial and insurance risks were separate subjects most often analyzed using qualitative methods. The development of quantitative methods based on stochastic analysis is an important achievement of modern financial mathematics, one that can naturally be extended and applied in actuarial mathematics. Risk Analysis in Finance and Insurance offers the first comprehensive and accessible introduction to the ideas, methods, and probabilistic models that have transformed risk management into a quantitative science and led to unified methods for analyzing insurance and finance risks. The author's approach is based on a methodology for estimating the present value of future payments given current financial, insurance, and other information, which leads to proper, practical definitions of the price of a financial contract, the premium for an insurance policy, and the reserve of an insurance company. Self-contained and full of exercises and worked examples, Risk Analysis in Finance and Insurance serves equally well as a text for courses in financial and actuarial mathematics and as a valuable reference for financial analysts and actuaries. Ancillary electronic materials will be available for download from the publisher's Web site.

Author : Andrew Lacey
Publisher : Createspace Independent Publishing Platform
Page : 214 pages
File Size : 48,6 Mb
Release : 2016-08-06
Category : Electronic
ISBN : 1536926876

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Insurance Company Financial & Risk Analysis by Andrew Lacey Pdf

This book provides professional-level information on how to analyze the financial and business well-being of all types of insurance company, including Lloyd's of London syndicates. The proposed risk-based assessment framework will enable better Credit, Investment, Policy and other decisions, subject to the risk-averse stance of decision-makers.

Author : Alexander Melnikov
Publisher : Chapman and Hall/CRC
Page : 253 pages
File Size : 50,6 Mb
Release : 2004
Category : Business & Economics
ISBN : 1584884290

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Risk Analysis in Finance and Insurance by Alexander Melnikov Pdf

Historically, financial and insurance risks were separate subjects most often analyzed using qualitative methods. The development of quantitative methods based on stochastic analysis is an important achievement of modern financial mathematics, one that can naturally be extended and applied in actuarial mathematics. Risk Analysis in Finance and Insurance offers the first comprehensive and accessible introduction to the ideas, methods, and probabilistic models that have transformed risk management into a quantitative science and led to unified methods for analyzing insurance and finance risks. The author's approach is based on a methodology for estimating the present value of future payments given current financial, insurance, and other information, which leads to proper, practical definitions of the price of a financial contract, the premium for an insurance policy, and the reserve of an insurance company. Self-contained and full of exercises and worked examples, Risk Analysis in Finance and Insurance serves equally well as a text for courses in financial and actuarial mathematics and as a valuable reference for financial analysts and actuaries. Ancillary electronic materials will be available for download from the publisher's Web site.

Author : J. David Cummins,Anthony M. Santomero
Publisher : Springer Science & Business Media
Page : 379 pages
File Size : 46,7 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461550457

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Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management by J. David Cummins,Anthony M. Santomero Pdf

Major challenges for life insurance companies have been posed by an unprecedented wave of mergers and acquisitions in the insurance industry and the emergence of non-traditional competitors such as banks, mutual fund companies and investment advisory firms. This is the first book to analyze the determinants of firm performance in the life insurance industry by identifying the `best practices' employed by leading insurers to succeed in this dynamic business environment. The book draws upon data from insurer financial statements as well as upon an extensive survey of life insurer management practices and strategic choices in distribution systems, information technology, mergers and acquisitions, human resources and financial strategies. Generic strategies such as cost leadership, customer focus, and product differentiation are analyzed as well as strategic practices specific to the insurance industry. Best practices are identified by measuring the economic efficiency of insurers and by comparing firms across the industry. Both cost and revenue efficiency are measured relative to best practice efficient frontiers consisting of the industry's dominant life insurance firms. Economies of scale and the effects of mergers and acquisitions on efficiency are also analyzed. Financial strategies are examined with specific reference to pricing policy, valuation of assets and liabilities, and the current state of firm-level risk management systems. The benchmarks established are the result of extensive fieldwork that identifies key financial risks and methodologies to both measure and manage them at the firm level. The results discussed in the book indicate that firm performance is significantly correlated with management practices and strategic choices. Thus, life insurers can improve profitability by adopting optimal combinations of strategies. The book contains important new material on the effects of strategic choices in product distribution systems, information technology, mergers and acquisitions, human resources, and financial risk management policies. In the area of efficiency, the methodology provides a new approach for identifying peer groups of insurers and measuring the performance of individual insurers relative to their peer group. On the topics of risk and pricing, new insights are offered relative to current methodologies and in regard to areas where improvement is clearly warranted. The book concludes with an analysis of the future opportunities and challenges in the life insurance industry facing managers, and the strategic options available to them to cope with these changes.

Author : Paola De Vincentiis,Francesca Culasso,Stefano A. Cerrato
Publisher : Springer
Page : 447 pages
File Size : 52,5 Mb
Release : 2019-05-23
Category : Business & Economics
ISBN : 9783030165260

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The Future of Risk Management, Volume II by Paola De Vincentiis,Francesca Culasso,Stefano A. Cerrato Pdf

With contributions presented during the Second International Risk Management Conference, this second volume addresses important areas of risk management from a variety of angles and perspectives. The book will cover two separate tracks—financial risk management and risk management and corporate strategies—and will be of interest to academic researchers and students in risk management, banking, and finance.

Author : Paul J. Brehm
Publisher : Guy Carpenter & Company C2007
Page : 291 pages
File Size : 43,6 Mb
Release : 2007
Category : Insurance
ISBN : 0615133568

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Enterprise Risk Analysis for Property & Liability Insurance Companies by Paul J. Brehm Pdf

Author : Annamaria Olivieri,Ermanno Pitacco
Publisher : Springer
Page : 508 pages
File Size : 43,8 Mb
Release : 2015-09-30
Category : Mathematics
ISBN : 9783319213774

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Introduction to Insurance Mathematics by Annamaria Olivieri,Ermanno Pitacco Pdf

This second edition expands the first chapters, which focus on the approach to risk management issues discussed in the first edition, to offer readers a better understanding of the risk management process and the relevant quantitative phases. In the following chapters the book examines life insurance, non-life insurance and pension plans, presenting the technical and financial aspects of risk transfers and insurance without the use of complex mathematical tools. The book is written in a comprehensible style making it easily accessible to advanced undergraduate and graduate students in Economics, Business and Finance, as well as undergraduate students in Mathematics who intend starting on an actuarial qualification path. With the systematic inclusion of practical topics, professionals will find this text useful when working in insurance and pension related areas, where investments, risk analysis and financial reporting play a major role.

Author : Bloomsbury Publishing
Publisher : A&C Black
Page : 242 pages
File Size : 42,9 Mb
Release : 2010-07-01
Category : Business & Economics
ISBN : 9781849300261

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Approaches to Enterprise Risk Management by Bloomsbury Publishing Pdf

Approaches to Enterprise Risk Management is a multi-author book written by leading experts in the field of risk management including Aswath Damodoran, John C. Groth and David Shimko. It is a valuable tool that enables you to assess the potential business threats, both from within your organization and from external sources. It comprises over 25 chapters covering the range of risks your organization might face including financial, strategic, operational risks. It offers you over 20 practical step-by-step guides on the required steps to cope with any detrimental event that could impact on your company's financial health. There are also a range of checklists including Balancing Hedging Objectives with Accounting Rules (FAS 133) , Creating a Risk Register, What Is Forensic Auditing? And Managing and Auditing the Risk of Business Interruption, Captive Insurance Companies: How to Reduce Your Costs, Hedging Credit Risk-Case Studies and Strategies.

Author : Georges Dionne
Publisher : Springer Science & Business Media
Page : 1126 pages
File Size : 43,7 Mb
Release : 2013-12-02
Category : Business & Economics
ISBN : 9781461401551

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Handbook of Insurance by Georges Dionne Pdf

This new edition of the Handbook of Insurance reviews the last forty years of research developments in insurance and its related fields. A single reference source for professors, researchers, graduate students, regulators, consultants and practitioners, the book starts with the history and foundations of risk and insurance theory, followed by a review of prevention and precaution, asymmetric information, risk management, insurance pricing, new financial innovations, reinsurance, corporate governance, capital allocation, securitization, systemic risk, insurance regulation, the industrial organization of insurance markets and other insurance market applications. It ends with health insurance, longevity risk, long-term care insurance, life insurance financial products and social insurance. This second version of the Handbook contains 15 new chapters. Each of the 37 chapters has been written by leading authorities in risk and insurance research, all contributions have been peer reviewed, and each chapter can be read independently of the others.

Author : Marta Borda,Simon Grima,Ilona Kwiecień
Publisher : Springer Nature
Page : 215 pages
File Size : 49,6 Mb
Release : 2020-10-21
Category : Business & Economics
ISBN : 9783030496555

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Life Insurance in Europe by Marta Borda,Simon Grima,Ilona Kwiecień Pdf

This book examines the challenges for the life insurance sector in Europe arising from new technologies, socio-cultural and demographic trends, and the financial crisis. It presents theoretical and applied research in all areas related to life insurance products and markets, and explores future determinants of the insurance industry’s development by highlighting novel solutions in insurance supervision and trends in consumer protection. Drawing on their academic and practical expertise, the contributors identify problems relating to risk analysis and evaluation, demographic challenges, consumer protection, product distribution, mortality risk modeling, applications of life insurance in contemporary pension systems, financial stability and solvency of life insurers. They also examine the impact of population aging on life insurance markets and the role of digitalization. Lastly, based on an analysis of early experiences with the implementation of the Solvency II system, the book provides policy recommendations for the development of life insurance in Europe.

Author : GARP (Global Association of Risk Professionals),Richard Apostolik,Christopher Donohue
Publisher : John Wiley & Sons
Page : 375 pages
File Size : 47,8 Mb
Release : 2015-06-02
Category : Business & Economics
ISBN : 9781119098058

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Foundations of Financial Risk by GARP (Global Association of Risk Professionals),Richard Apostolik,Christopher Donohue Pdf

Gain a deeper understanding of the issues surrounding financial risk and regulation Foundations of Financial Risk details the various risks, regulations, and supervisory requirements institutions face in today's economic and regulatory environment. Written by the experts at the Global Association of Risk Professionals (GARP), this book represents an update to GARP's original publication, Foundations of Banking Risk. You'll learn the terminology and basic concepts surrounding global financial risk and regulation, and develop an understanding of the methods used to measure and manage market, credit, and operational risk. Coverage includes traded market risk and regulation, treasury risk and regulation, and much more, including brand new coverage of risk management for insurance companies. Clear explanations, focused discussion, and comprehensive relevancy make this book an ideal resource for an introduction to risk management. The textbook provides an understanding of risk management methodologies, governance structures for risk management in financial institutions and the regulatory requirements dictated by the Basel Committee on Banking Supervision. It provides thorough coverage of the issues surrounding financial risk, giving you a solid knowledgebase and a practical, applicable understanding. Understand risk measurement and management Learn how minimum capital requirements are regulated Explore all aspects of financial institution regulation and disclosure Master the terminology of global risk and regulation Financial institutions and supervisors around the world are increasingly recognizing how vital sound risk management practices are to both individual firms and the capital markets system as a whole. Savvy professionals recognize the need for authoritative and comprehensive training, and Foundations of Financial Risk delivers with expert-led education for those new to risk management.

Author : Anonim
Publisher : Dr John Chibaya Mbuya
Page : 167 pages
File Size : 41,7 Mb
Release : 2024-06-02
Category : Electronic
ISBN : 9780981426723

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Risk Management Philosophy by Anonim Pdf

Author : Antonio Borghesi,Barbara Gaudenzi
Publisher : Springer Science & Business Media
Page : 139 pages
File Size : 54,6 Mb
Release : 2012-10-06
Category : Business & Economics
ISBN : 9788847025301

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Risk Management by Antonio Borghesi,Barbara Gaudenzi Pdf

Businesses now operate amid a welter of risks that exist at various levels, both inside companies and at the network level. This handbook provides the latest integrated managerial approaches that help protect businesses from adverse events and their effects.

Author : Frank J. Fabozzi
Publisher : John Wiley and Sons
Page : 23 pages
File Size : 48,9 Mb
Release : 2010-12-16
Category : Business & Economics
ISBN : 9780470944806

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Financial Risk Management by Frank J. Fabozzi Pdf

Created by the experienced author team of Frank Fabozzi and Pamela Peterson Drake, Financial Risk Management examines the essential elements of this discipline and makes them accessible to a wide array of readers-from seasoned veterans looking for a review to newcomers needing to get their footing in finance. Financial risk is the exposure of a corporation to an event that can cause a shortfall in a targeted financial measure or value and includes market risk, credit risk, market liquidity risk, operational risk, and legal risk. This material discusses the four key processes in financial risk management: risk identification, risk assessment, risk mitigation, and risk transferring. The process of risk management involves determining which risks to accept, which to neutralize, and which to transfer.

Author : Alexander Melnikov
Publisher : CRC Press
Page : 330 pages
File Size : 53,5 Mb
Release : 2011-04-25
Category : Mathematics
ISBN : 9781420070521

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Risk Analysis in Finance and Insurance, Second Edition by Alexander Melnikov Pdf

Risk Analysis in Finance and Insurance, Second Edition presents an accessible yet comprehensive introduction to the main concepts and methods that transform risk management into a quantitative science. Taking into account the interdisciplinary nature of risk analysis, the author discusses many important ideas from mathematics, finance, and actuarial science in a simplified manner. He explores the interconnections among these disciplines and encourages readers toward further study of the subject. This edition continues to study risks associated with financial and insurance contracts, using an approach that estimates the value of future payments based on current financial, insurance, and other information. New to the Second Edition Expanded section on the foundations of probability and stochastic analysis Coverage of new topics, including financial markets with stochastic volatility, risk measures, risk-adjusted performance measures, and equity-linked insurance More worked examples and problems Reorganized and expanded, this updated book illustrates how to use quantitative methods of stochastic analysis in modern financial mathematics. These methods can be naturally extended and applied in actuarial science, thus leading to unified methods of risk analysis and management.