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It is widely recognized that ?market failure? prevents efficient risk sharing in natural disaster insurance. As a consequence, many countries adopted institutional frameworks presenting public sector participation, often praised as public-private partnerships. We define risk selection as a...
Persistent link: https://www.econbiz.de/10010276887
The Munich Re was founded in 1880 and is from the very start till this day one of the leading insurance companies in the world. Despite its long and successfull existance the company’s history has not been reported yet in a way that fulfilled scientific criteria. This paper can be seen as a...
Persistent link: https://www.econbiz.de/10010427564
positive. Next, we show that a judicious combination of deposit insurance and reinsurance eliminates all non …
Persistent link: https://www.econbiz.de/10011753322
the occurrence of a natural disaster, the reconstruction can be financed with catastrophe bonds (CAT bonds) or reinsurance … process from the two sides of the contract, the reinsurance and the capital markets, and from the historical data. The results … demonstrate that, under specific conditions, the financial strategy of the government, a mix of reinsurance and CAT bond, is …
Persistent link: https://www.econbiz.de/10010274132
With the establishment of the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in May 2002 Germany followed the trend towards integrated financial supervision. The main reason for unification of supervision is the growing integration of financial sectors leading to the blurring of...
Persistent link: https://www.econbiz.de/10010297360
Die Solvency II Standardformel erlaubt zusätzlich zum Ansatz einer Verlust- absorbierung durch Rückstellungen auch den Ansatz einer Verlustabsorbierung durch latente Steuern. Die Verlustabsorbierung durch latente Steuern hängt davon ab, wie werthaltig aktivierte latente Steuern in einer...
Persistent link: https://www.econbiz.de/10012317976
On May 1, 2004, ten countries in Central, Eastern and Southern Europe will become full members of the EU. The parliaments and monetary authorities of the ten accession countries have already to a large extent adapted their legal and institutional structures to the new Europe-wide environment....
Persistent link: https://www.econbiz.de/10011689912
Versicherungsunternehmen haben bei der Auswahl ihrer Vermögensanlagen die gesetzlichen Restriktionen des Versicherungsaufsichtsgesetzes einzuhalten. Neben einer strukturierten Darstellung der zahlreichen Regulierungstatbestände werden aus Sicht der Finanzierungstheorie sowie den empirischen...
Persistent link: https://www.econbiz.de/10010316234
Coming (great) events cast their (long) shadow before. As the financial crisis gave birth to the creation of the European System of Financial Supervision (ESFS), the imminent Brexit now serves as an impulse to rather extensively reorganize it. Pursuant to the preferences of the Commission-as...
Persistent link: https://www.econbiz.de/10011743306
Persistent link: https://www.econbiz.de/10010298861