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Die Regelung und Praxis der Aufsicht der beruflichen Vorsorge in den untersuchten Ländernergeben kein einheitliches Bild. Trotzdem sind Trends festzustellen, die auch für dieSchweiz von Interesse sind. Einer dieser Trends ist eine Aufsichtsintegration, wonach dieLebensversicherer, Banken und...
Persistent link: https://www.econbiz.de/10009305243
Die deutschsprachigen Versicherungsmärktestehen vor alten undneuen Herausforderungen, die imUmfeld der Finanz- und Wirtschaftskriseimmer noch zunehmen. Langfristigprägende Entwicklungen wiezum Beispiel im soziodemografischenBereich, aber auch aktuelleEntwicklungen wie Veränderungendes...
Persistent link: https://www.econbiz.de/10009305244
Die Finanzkrise erschütterte die globale Wirtschaft. Traditionsreiche Finanzinstituteund ganze Volkswirtschaften standen am Rande des finanziellen Abgrundes.Staatliche Hilfspakete haben den Kollaps des Systems zwar bisherverhindert, aber damit eine grosse Hypothek für die Zukunft...
Persistent link: https://www.econbiz.de/10009305245
Life insurers often claim that the life settlement industry reduces theirsurrender profits and leads to an adverse shift in their portfolio of insuredrisks, i.e., bad risks remain in the portfolio instead of surrendering.In this paper, we aim to quantify the effect of altered...
Persistent link: https://www.econbiz.de/10005861403
In this paper, we first discuss the characteristics and major benefits of the Swissrisk-based capital standards for insurance companies (Swiss Solvency Test), introduced in 2006. As the insurance industry is one of the largest institutional investors in Switzerland, changes to its asset and...
Persistent link: https://www.econbiz.de/10005861404
The aim of this paper is to examine the impact of capital and risk transfer instruments on diversification and insolvency risk in a parent-subsidiary relationship. To better assess the effects, we compare this setting to the case of a holding company and an integrated financial group. In the...
Persistent link: https://www.econbiz.de/10005861407
The aim of this paper is to develop an alternative approach for assessing an insurer’s solvency as a proposal for a standard model for Solvency II. Instead ofderiving minimum capital requirements—as it is done in solvency regulation—our model provides company-specific minimum standards for...
Persistent link: https://www.econbiz.de/10005861466
The aim of this article is to identify fair equity-premium combinations for non-lifeinsurers that satisfy solvency capital requirements imposed by regulatory authorities. In particular, we compare target capital erived using the value at risk concept as planned for Solvency II in the European...
Persistent link: https://www.econbiz.de/10005861470
In recent years, industry loss warranties (ILWs) have become increasingly popular in the reinsurance market. The defining feature of ILW contracts is their dependence on an industry loss index. The use of an index reduces moral hazard and generally results in lower prices compared to...
Persistent link: https://www.econbiz.de/10005861474
Die Dynamische Finanzanalyse (DFA) hat sich in den vergangenen Jahren zu einemwichtigen Instrument zur Analyse der Finanzlage eines Versicherungsunternehmens entwickelt.Trotz der zunehmenden Verbreitung der DFA in der Praxis und zahlreicher Abhandlungenin der wissenschaftlichen Literatur gibt es...
Persistent link: https://www.econbiz.de/10005861475