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Solvency II in the Insurance Industry

Solvency II in the Insurance Industry PDF Author: Maria Heep-Altiner
Publisher: Springer
ISBN: 3319770608
Category : Business & Economics
Languages : en
Pages : 219

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Book Description
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).

Solvency II in the Insurance Industry

Solvency II in the Insurance Industry PDF Author: Maria Heep-Altiner
Publisher: Springer
ISBN: 3319770608
Category : Business & Economics
Languages : en
Pages : 219

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Book Description
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).

Insurance Regulation in the European Union

Insurance Regulation in the European Union PDF Author: Pierpaolo Marano
Publisher: Palgrave Macmillan
ISBN: 9783319870274
Category : Business & Economics
Languages : en
Pages : 405

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Book Description
This book explores the profound transformation that has taken place in European insurance legislation since January 2016. Expert contributions discuss the changes that have taken place in the supervision of insurance and reinsurance undertakings through an economic risk-based approach. They outline the European insurance market before going on to show how Solvency II and Insurance Distribution Directive (IDD) are expected to generate significant benefits and have a positive impact on all parties involved in the insurance industry, the supervisory authorities and the insured. They also show how Solvency II is likely to benefit the economy as a whole, promoting more efficient allocation of capital and risk in a financial stability framework. This volume will be of interest to academics and researchers in the field of insurance regulation.

The Economics, Regulation, and Systemic Risk of Insurance Markets

The Economics, Regulation, and Systemic Risk of Insurance Markets PDF Author: Felix Hufeld
Publisher: Oxford University Press
ISBN: 0198788819
Category : Business & Economics
Languages : en
Pages : 247

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Book Description
Pt. 1. The economics of insurance and the macroeconomic role of insurance -- What is insurance and how does it differ from general finance? / Christian Thimann -- The macroeconomic role of insurance / Denis Kessler, Amélie de Montchalin, and Christian Thimann -- How the insurance industry manages risk / Denis Duverne and John Hele -- pt. 2. Financial stability and the possibilities of systemic risk -- Risks of life insurers : recent trends and transmission mechanisms / Ralph S.J. Koijen and Motohiro Yogo -- Measuring systemic risk for insurance companies / Viral V. Acharya, Thomas Philippon, and Matthew Richardson -- Measuring interest rate risk in the life insurance sector : the U.S. and the U.K. / Daniel Hartley, Anna Paulson and Richard J. Rosen -- pt. 3. Regulation -- How the insurance industry's asset portfolio responds to regulation / Bo Becker -- Spillover effects of risk regulation on the asset side to asset markets / Andrew Ellul, Chotibhak Jotikasthira, and Christian T. Lundblad -- A regulatory framework for systemic risk in the insurance industry / Felix Hufeld -- pt. 4. Open questions going forward from the insurance sector -- The big questions for the insurance sector : findings from a survey of insurance companies / Luca Pancaldi and Uwe Stegemann

Risk Management for Insurers

Risk Management for Insurers PDF Author:
Publisher:
ISBN: 9781782722229
Category : Insurance
Languages : en
Pages : 362

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Book Description
"The introduction of Solvency II will drastically redesign the supervisory rules for regulatory capital for insurance companies. The insurance industry is therefore in desperate need of an up-to-date risk management book which contains a comprehensive exploration of Solvency II before implementation begins. The resilience of risk management systems in anticipation of Solvency II must be ensured. This updated accessible reference for the whole insurance industry that newly includes: i) More detailed discussion of Solvency II, with its three pillars examined separately; ii) the latest technical guidance from the European Insurance and Occupational Pensions Authority and the European Commission; iii) the impact of risk governance and risk culture; iv) an up-to-date overview of Basel III; and v) the significance of the International Financial Reporting Standards.

Executive's Guide to Solvency II

Executive's Guide to Solvency II PDF Author: David Buckham
Publisher: John Wiley & Sons
ISBN: 0470545720
Category : Business & Economics
Languages : en
Pages : 208

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Book Description
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.

Capital Requirements, Disclosure, and Supervision in the European Insurance Industry

Capital Requirements, Disclosure, and Supervision in the European Insurance Industry PDF Author: Maria Grazia Starita
Publisher: Palgrave Macmillan
ISBN: 9781137390837
Category : Business & Economics
Languages : en
Pages : 312

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Book Description
European insurance companies are facing a range of new challenges and innovations. Solvency II will pose capital requirement, disclosure and supervision issues as it is one of the most important regulatory innovations in the field of insurance in the past 20 years. The wide range of innovations occurring and the number of operators involved through impact studies and assessments have created an atmosphere of great expectation surrounding Solvency II and its implementation. The adoption of a risk-based approach will be one of the most important innovations of the new regulatory framework, determining important issues related to capital requirements and their supervision as well as their disclosure to the market. Capital Requirements, Disclosure, and Supervision in the European Insurance Industry provides an in-depth analysis of Solvency II's issues by combining both a theoretical approach and evidence of the empirical implications and effects on the European insurance industry. This study discusses the new challenges facing insurance companies through the examination of its structure, the rules with which insurance companies operating in Europe have to be compliant, and their implementation. Providing a comprehensive analysis of the risk management practices and supervisory issues in the European insurance industry, it will be of interest to anyone researching or practicing in the field, as well as providing an invaluable resource for students of related degree programs and researchers interested in financial intermediaries and the risk and capital management factors of insurance companies.

Germany

Germany PDF Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1498323715
Category : Business & Economics
Languages : en
Pages : 66

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Book Description
This paper provides an update on the German insurance sector and an analysis of certain key aspects of the regulatory and supervisory regime. It includes an analysis of German practice in relation to selected Insurance Core Principles in the context of a wider discussion of key issues in regulation and supervision. This technical note focuses mainly on recent developments in the sector and key vulnerabilities, including life insurance issues, those vulnerabilities associated with the continuing low interest rate environment; the preparations of the authorities and industry for the implementation of the Solvency II requirements; and the supervisory approach to large insurance groups.

Austria

Austria PDF Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1484375734
Category : Business & Economics
Languages : en
Pages : 17

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Book Description
This Technical Note provides an update on the Austrian insurance industry and an analysis of its regulatory and supervisory regime. The structure of the domestic insurance sector has remained largely stable since the last update. At Q3-2012 there were 50 insurance companies with assets of €108 billion, making up nearly 40 percent of GDP. Although insurance portfolios are largely concentrated in high-quality bonds, they have significant exposure to European banks. Most insurance companies in Austria appear well capitalized under the Solvency I regime. The industry remains profitable though margins have come under some pressure recently.

Life Insurance in Europe

Life Insurance in Europe PDF Author: Marta Borda
Publisher: Springer Nature
ISBN: 3030496554
Category : Business & Economics
Languages : en
Pages : 214

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Book Description
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.

Global Perspectives on Insurance Today

Global Perspectives on Insurance Today PDF Author: Cecelia Kempler
Publisher: Palgrave MacMillan
ISBN:
Category : Business & Economics
Languages : en
Pages : 326

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Book Description
Many risks face the global insurance industry today, including the aging populations of developed countries, competition from other financial institutions, and both disparate and quickly changing regulatory demands, to name a few. The book’s contributors offer their unique perspectives on challenges confronting the insurance industry and how attendant risks can be most effectively managed.