Insurance guarantee schemes (IGSs) aim to protect policyholders from the costs of insurer insolvencies. However, IGSs … can also reduce the incentives of insurers to conduct appropriate risk management. We investigate the risk-taking behavior … of a stock insurer under insurance guarantee schemes with two di fferent fi nancing alternatives: a flat-rate premium …

Low interest rates are becoming a threat to the stability of the life insurance industry, especially in countries such … investment returns of a stylized life insurance business portfolio in a multi-period setting. Based on empirically calibrated …

risk disclosure practices in annual reports of European primary insurers in the Dow Jones Stoxx 600 Insurance Index between … disclosure and insurance companies' characteristics such as size, risk, profitability, ownership dispersion, cross-listing, home … country, and type of insurance sold, to draw inferences regarding motives for enhanced risk disclosure based on positive …

Pursuant to art. 45 of the Solvency II Framework Directive, all insurance undertakings will be obliged to conduct an … "Own Risk and Solvency Assessment" (ORSA). ORSA's relevance is not limited only to the second pillar of Solvency II, where … hitherto been only very roughly defined. Since it is for the undertaking to determine its own specific risk profile and to …

Historical evidence like the global financial crisis from 2007-09 highlights that sector concentration risk can play an … II consider only name concentration risk explicitly in their solvency capital requirements for asset concentration risk … and neglect sector concentration risk. We show by means of US insurers' asset holdings from 2009 to 2018 that substantial …

Insurance guarantee schemes (IGSs) aim to protect policyholders from the costs of insurer insolvencies. However, IGSs … can also reduce the incentives of insurers to conduct appropriate risk management. We investigate the risk-taking behavior … of a stock insurer under insurance guarantee schemes with two different financing alternatives: a flat-rate premium …

We build on Peter et al. (2017) who examined the benefit of testing frequency risk under various information regimes …. We first consider testing only severity risk, and whether the principle of indemnity, i.e. the usual contract term that … excludes claims payments above the resulting insured loss, affects the insurance contracts offered and purchased. Under …

risk disclosure practices in annual reports of European primary insurers in the Dow Jones Stoxx 600 Insurance Index between … disclosure and insurance companies' characteristics such as size, risk, profitability, ownership dispersion, cross-listing, home … country, and type of insurance sold, to draw inferences regarding motives for enhanced risk disclosure based on positive …