Solvency

Author : Arne Sandstrom
Publisher : CRC Press
Page : 448 pages
File Size : 47,6 Mb
Release : 2005-09-19
Category : Mathematics
ISBN : 9781420034882

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Solvency by Arne Sandstrom Pdf

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.

Author : Arne Sandström
Publisher : CRC Press
Page : 1084 pages
File Size : 48,6 Mb
Release : 2016-04-19
Category : Business & Economics
ISBN : 9781439821329

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Handbook of Solvency for Actuaries and Risk Managers by Arne Sandström Pdf

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

Author : J. David Cummins,Richard A. Derrig
Publisher : Springer Science & Business Media
Page : 380 pages
File Size : 52,8 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400925069

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Financial Models of Insurance Solvency by J. David Cummins,Richard A. Derrig Pdf

The First International Conference on Insurance Solvency was held at the Wharton School, University of Pennsylvania from June 18th through June 20th, 1986. The conference was the inaugural event for Wharton's Center for Research on Risk and Insurance. In atten dance were thirty-nine representatives from Australia, Canada, France, Germany, Israel, the United Kingdom, and the United States. The papers presented at the Conference are published in two volumes, this book and a companion volume, Classical Insurance Solvency Theory, J. D. Cummins and R. A. Derrig, eds. (Norwell, MA: Kluwer Academic Publishers, 1988). The first volume presented two papers reflecting important advances in actuarial solvency theory. The current volume goes beyond the actuarial approach to encom pass papers applying the insights and techniques of financial economics. The papers fall into two groups. The first group con sists of papers that adopt an essentially actuarial or statistical ap proach to solvency modelling. These papers represent methodology advances over prior efforts at operational modelling of insurance companies. The emphasis is on cash flow analysis and many of the models incorporate investment income, inflation, taxation, and other economic variables. The papers in second group bring financial economics to bear on various aspects of solvency analysis. These papers discuss insurance applications of asset pricing models, capital structure theory, and the economic theory of agency.

Author : J. David Cummins,Richard A. Derrig
Publisher : Springer Science & Business Media
Page : 184 pages
File Size : 40,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400926776

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Classical Insurance Solvency Theory by J. David Cummins,Richard A. Derrig Pdf

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.

Author : J. David Cummins,Richard A. Derrig
Publisher : Springer Science & Business Media
Page : 408 pages
File Size : 54,7 Mb
Release : 1989-08-31
Category : Business & Economics
ISBN : 0792390180

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Financial Models of Insurance Solvency by J. David Cummins,Richard A. Derrig Pdf

The First International Conference on Insurance Solvency was held at the Wharton School, University of Pennsylvania from June 18th through June 20th, 1986. The conference was the inaugural event for Wharton's Center for Research on Risk and Insurance. In atten dance were thirty-nine representatives from Australia, Canada, France, Germany, Israel, the United Kingdom, and the United States. The papers presented at the Conference are published in two volumes, this book and a companion volume, Classical Insurance Solvency Theory, J. D. Cummins and R. A. Derrig, eds. (Norwell, MA: Kluwer Academic Publishers, 1988). The first volume presented two papers reflecting important advances in actuarial solvency theory. The current volume goes beyond the actuarial approach to encom pass papers applying the insights and techniques of financial economics. The papers fall into two groups. The first group con sists of papers that adopt an essentially actuarial or statistical ap proach to solvency modelling. These papers represent methodology advances over prior efforts at operational modelling of insurance companies. The emphasis is on cash flow analysis and many of the models incorporate investment income, inflation, taxation, and other economic variables. The papers in second group bring financial economics to bear on various aspects of solvency analysis. These papers discuss insurance applications of asset pricing models, capital structure theory, and the economic theory of agency.

Author : Meinrad Dreher
Publisher : Springer
Page : 478 pages
File Size : 51,6 Mb
Release : 2015-03-16
Category : Law
ISBN : 9783662462904

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Treatises on Solvency II by Meinrad Dreher Pdf

The European system of insurance supervision under Solvency II constitutes a parallel to supervision of credit institutions under Basel III. At the heart of this new European insurance supervisory regime are the Solvency II Directive, the attendant regulation, and the EIOPA Regulation. The present volume, "Treatises on Solvency II", includes articles on the bases of European insurance supervision and the associated three pillars of solvency, governance, and disclosure, all viewed predominantly from a legal standpoint.

Author : Ms Gabrielle O'Donovan
Publisher : Gower Publishing, Ltd.
Page : 177 pages
File Size : 44,9 Mb
Release : 2014-08-28
Category : Business & Economics
ISBN : 9781472440921

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Solvency II by Ms Gabrielle O'Donovan Pdf

As the deadline for Solvency II approaches, affected entities will find implementing the required policies into everyday practices becomes a major focus. The second edition of Solvency II: Stakeholder Communications and Change, explains how to prepare for and negate the associated risks. Gabrielle O'Donovan uses her research and the latest industry developments to demonstrate how to approach stakeholder communications and change management in a structured and disciplined way, framed by the EU Directive's governance requirements. She shows how to use a variety of tools and techniques to engage people with change and embed new ways of doing things. She also reveals how to entrench risk consciousness into your culture, helping you secure Solvency II approval and operate successfully in the Solvency II world.

Author : Andrew Smith,Richard Houlihan
Publisher : Andrew Smith
Page : 8 pages
File Size : 52,6 Mb
Release : 2008-07
Category : Electronic
ISBN : 9780615309927

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Solvency Opinions by Andrew Smith,Richard Houlihan Pdf

Solvency Opinions Asolvency opinion, by design, aims to assure the directors of the Company, and/or the lenders in the transaction, that the transaction will not likely subject the Company, and its? other creditors, to undue financial distress. Houlihan Smith

Author : Christoph Aymanns,Carlos Caceres,Christina Daniel,MissLiliana Schumacher
Publisher : International Monetary Fund
Page : 30 pages
File Size : 43,5 Mb
Release : 2016-03-15
Category : Business & Economics
ISBN : 9781513591131

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Bank Solvency and Funding Cost by Christoph Aymanns,Carlos Caceres,Christina Daniel,MissLiliana Schumacher Pdf

Understanding the interaction between bank solvency and funding cost is a crucial pre-requisite for stress-testing. In this paper we study the sensitivity of bank funding cost to solvency measures while controlling for various other measures of bank fundamentals. The analysis includes two measures of bank funding cost: (a) average funding cost and (b) interbank funding cost as a proxy of wholesale funding cost. The main findings are: (1) Solvency is negatively and significantly related to measures of funding cost, but the effect is small in magnitude. (2) On average, the relationship is stronger for interbank funding cost than for average funding cost. (3) During periods of stress interbank funding cost is more sensitive to solvency than in normal times. Finally, (4) the relationship between funding cost and solvency appears to be non-linear, with higher sensitivity of funding cost at lower levels of solvency.

Author : United States. Congress. Senate. Committee on Commerce, Science, and Transportation
Publisher : Unknown
Page : 324 pages
File Size : 40,7 Mb
Release : 1991
Category : Bankruptcy
ISBN : PSU:000018476910

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Insurance Company Solvency by United States. Congress. Senate. Committee on Commerce, Science, and Transportation Pdf

Author : Kristina Loguinova
Publisher : Springer Nature
Page : 384 pages
File Size : 51,5 Mb
Release : 2019-10-17
Category : Law
ISBN : 9783030263577

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A Critical Legal Study of the Ideology Behind Solvency II by Kristina Loguinova Pdf

This book analyzes the impact of Solvency II. In recent years, EU legislators have sought to introduce fundamental reforms. Whether these reforms were indeed fundamental is critically investigated with regard to a post-crisis piece of financial legislation affecting the EU’s largest institutional investors: Solvency II. Namely, the last financial and economic crisis, the worst financial catastrophe of the last decade, revealed that financial law in particular was not sufficiently mature to maintain the existence of a robust and trust-worthy financial system that could protect society from economic decline. The work also makes concrete recommendations on achieving a more sustainable future. As such, it offers a valuable resource for anyone who is interested in the financial system, the EU political economy, insurance, sustainability, and Critical Legal Studies.

Author : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Consumer Protection, and Competitiveness
Publisher : Unknown
Page : 650 pages
File Size : 49,8 Mb
Release : 1993
Category : Business & Economics
ISBN : UCR:31210011562202

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Federal Insurance Solvency by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Consumer Protection, and Competitiveness Pdf

Author : Kim J. Kowalewski,Angelo Mascaro
Publisher : DIANE Publishing
Page : 108 pages
File Size : 42,9 Mb
Release : 1994-05
Category : Electronic
ISBN : 0788108123

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Economic Impact of a Solvency Crisis in the Insurance Industry by Kim J. Kowalewski,Angelo Mascaro Pdf

Examines what would happen to the economy in general & the financial system in particular if the insurance industry experienced a solvency crisis. Includes: how a solvency crisis could arise (catastrophic increases in claims by policyholders; collapse of markets for assets held by the insurance industry; etc.); effects of a solvency crisis on the economy; & options for reducing the risks of a solvency crisis. 9 tables & figures.

Author : Anonim
Publisher : Unknown
Page : 80 pages
File Size : 55,8 Mb
Release : 1994
Category : Bankruptcy
ISBN : MINN:31951D002870547

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The Economic Impact of a Solvency Crisis in the Insurance Industry by Anonim Pdf

Author : Maria Heep-Altiner,Martin Mullins,Torsten Rohlfs
Publisher : Springer
Page : 219 pages
File Size : 50,5 Mb
Release : 2019-02-22
Category : Business & Economics
ISBN : 9783319770604

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Solvency II in the Insurance Industry by Maria Heep-Altiner,Martin Mullins,Torsten Rohlfs Pdf

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).