SOLVENCY II TECHNICAL PROVISIONS FOR GENERAL INSURERS

Solvency II for property-casualty insurers (II)

be geared to modern requirements. Unlike the present solvency regime, Solvency II is designed to reflect a prospective and risk-oriented economic view. It will be based on a total balance sheet approach and harmonised with accounting rules and regulations. Assets and liabilities will consistently be recognised at market values. In principle, IFRS provisions can be used as a basis for valuing th...

Solvency II

The insurance industry needs to be regulated to protect policyholders. This is the main objective of the Solvency II directive – the new insurance regulations for the European Economic Area. In short, it requires insurance companies to act responsibly with the money they have been entrusted with. It is estimated that implementing Solvency II will cost 2-3 billion Euro. It has the potential to c...

Part A—general Provisions

81. General .................................................. 8101 83. Masters and officers ........................... 8301 85. Pilots ...................................................... 8501 87. Unlicensed personnel ......................... 8701 89. Small vessel manning ......................... 8901 91. Tank vessel manning standards ...... 9101 93. Great Lakes pilotage ....................

Risk- and value-based management for non-life insurers under solvency constraints

The aim of this paper is to study optimal riskand value-based management decisions regarding a non-life insurer’s investment strategy by maximizing shareholder value based on preference functions, while simultaneously controlling for the ruin probability. We thereby extend previous work by explicitly accounting for the policyholders’ willingness to pay depending on their risk sensitivity based ...

Biometric Solvency Risk for Portfolios of General Life Contracts (II) The Markov Chain Approach