In a multi-dimensional risk model with dependent lines of business, we propose to allocate capital with respect to the minimization of some risk indicators. These indicators are sums of expected penalties due to the insolvency of a branch while the global reserve is either positive or negative. Explicit formulas in the case of two branches are obtained for several models (independent exponentia...

In addition to its primary role of providing financial protection for other industries the insurance industry also serves as a medium for fund mobilization. In spite of the harsh economic environment in Nigeria, the insurance industry has been crucial to the consummation of business plans and wealth creation.  However, the continued downturn experienced by many countries, in the last decade, se...

In this preliminary ruling (C-73/20), the Court of Justice European Union (CJEU) faces again (as did in former case law), issue what law is applicable to detrimental acts within course a cross border insolvency proceeding. On occasion, CJEU analyses how and when, –according EU Private International Law (EU PIL) at hand for those proceedings, i.e.: lex spe-cialis (articles 4 13 Insolvency Regula...

A The auxiliary problem 1 A.1. Notation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 A.2. Immediate liquidation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 A.3. Value of a barrier strategy . . . . . . . . . . . . . . . . . . . . . . . . . . 3 A.4. The optimal barrier . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 A.5. Verification . . . . ...