South Africa assumes a significant position in the insurance landscape of Africa. The present research based upon qualitative and quantitative analysis, shows that it shows the characteristics of a Complex Adaptive System. In addition, a statistical analysis of risk measures through Value at risk and Conditional tail expectation is carried out to show how an individual insurance company copes u...

THE JOURNAL OF DERIVATIVES 1 The notion of extreme movements in asset prices is implicit in current risk management practices. Capital adequacy assumes a threshold that classifies observed changes in market risk factors either as extreme or ordinary. A probability is first chosen to measure the “extremeness” of events that may affect a particular portfolio. This probability then determines the ...