After declining for two years, France’s national economic wealth rose in 2010. Households’ total wealth largely exceeded its level observed before the economic crisis of 2008 due to the increase in land prices.

Purpose – The solvency of insurance companies is closely related to the policyholders, and consequently regulators in Taiwan pay considerable attention to this area. Several studies have demonstrated a close correlation among capital structure, operational risk and profitability. This study...

When Equitable Life went to court in a case concerning the bonus rates it applied to pension policies with guaranteed annuity options, it emphasised that its rules gave it wide discretion in its bonus decisions, an argument that was unsuccessful. This paper considers the constraints on the...

“Economic capital (EC) is in – Value at Risk (VaR) is out!” This statement by James Lam, well known to be the first Chief Risk Officer (CRO) worldwide, at the April 2004 Enterprise Risk Management (ERM) Symposium in Chicago, caused quite a reaction by the attendees. What is EC? Why are...

Purpose – Bodies with responsibilities for paying pensions to individuals face a mortality risk in that the pensioners may prove longer lived than expected. The significant scale and uncertainity of this risk is becoming increasingly clear. Various measures are available to control this risk...