Gatumel, Mathieu - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008
For many assets and liabilities there exist deep and liquid markets so that the market value are reasily observed. However, for non-hedgeable risks, the market value of liabilities must be estimated. The Draft Solvency II Directive suggests in article 75 that the valuation of technical...