Relevant bibliographies by topics / Insurance reserve

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Academic literature on the topic 'Insurance reserve'

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Published: 28 May 2022
Last updated: 30 May 2022

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Journal articles on the topic "Insurance reserve"

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ARIASIH, MADE PUTRI, KETUT JAYANEGARA, I. NYOMAN WIDANA, and I. PUTU EKA N. KENCANA. "PENENTUAN CADANGAN PREMI UNTUK ASURANSI PENDIDIKAN." E-Jurnal Matematika 4, no. 1 (January 30, 2015): 14. http://dx.doi.org/10.24843/mtk.2015.v04.i01.p082.

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This aims of this research is determine the insurance premium reserve for education with retrospective calculations and determine the premium reserves who acquired during the period of guarantee for insurance education. This research observes the premium reserve for persons aged 40 years with a coverage period of 17 years. The secondary data used is an education insurance data product from the insurance company that issued the insurance product. Premium reserve is determined by using the retrospective calculation, the calculation using the annuity value, net single premium value, net annual premiums, the value of net monthly premium, CSO 1980 mortality and fixed interest rate at 9%. Retrospective calculations produce a faster value backup and sequentially in each year. The results showed that the premium reserve with retrospective calculation should be close up to the cash price owned by insurance company and must be the same at the end of the insurance period is Rp 7.000.000,00.
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Bachyurah, Bachyurah, Ikhsan Maulidi, Intan Syahrini, and Nurmaulidar Nurmaulidar. "ANALISIS CADANGAN MANFAAT DENGAN MENGGUNAKAN METODE RETROSPEKTIF PADA ASURANSI JIWA BERJANGKA." STATMAT : JURNAL STATISTIKA DAN MATEMATIKA 2, no. 1 (January 30, 2020): 1. http://dx.doi.org/10.32493/sm.v2i1.3884.

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The insurance company is a company that protects its customers from unwanted events in the future. A life insurance company should prepare a benefit reserve funds to be given to customers if the customers experience a risk of death in the future. Therefore, the insurance company must manage the benefit reserves so that the company does not have a loss. The purposes of this study are to calculate both the amount of annual net premiums and the amount of benefit reserves in term life insurance. The method used to calculate the value of the benefit reserve was a retrospective method. The results of the calculation of annual net premiums for large annual premiums for expenditures that are greater than those greater for the same period. While the value of insurance reserves will continue to increase at the beginning of the insurance contract begins and the value of insurance reserves will continue to increase towards 0 at the end of the insurance contract. This is because at the beginning of the company insurance payments obtained from annual net premium payments will be greater than the amount of benefits that must be approved.
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Daryanto, Wiwiek Mardawiyah, and Wawan Rahardianto. "Measuring the Financial Health Performance of Life Insurance Company in Indonesia: Case Study During the Period of Before and After the Implementation of Peraturan Otoritas Jasa Keuangan, Nomor 71 /Pojk.05/2016." International Journal of Business Studies 3, no. 2 (December 18, 2019): 64–71. http://dx.doi.org/10.32924/ijbs.v3i2.125.

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Insurance is simply a risk management by transferring the risk of potential loss to an insurance company. By allowing risk to be spread among a large group of people, everyone will take benefits from insurance. Therefore, selecting strong insurance company is important to make sure that your sum assured or claim will be paid according to the policy term and condition. This research aims to measure, analyze, and compare the financial health performance of public listed life insurance companies in Indonesia namely PT Prudential Life Assurance (PLA) and PT AIA Financial (AIA) from 2013 to 2018 (temporary unaudited) by using 5 financial health aspects such as Solvability Level, Technical Reserve, Investment Adequacy, Equity and Guarantee Fund as regulate by The Financial Services Authority (Otoritas Jasa Keuangan – OJK) through POJK No.71/POJK.05/2016. This research is using descriptive analysis and paired t-test to validate the differences of financial aspects during the period of before (2013-2015) and after (2016-2018) the regulation issued. The results of this study show that PLA was performing the best for solvability level, equity and guarantee fund. And PLA must enhance the performance strategy for technical reserve by gaining more premium reserves, reserve claims, reserves on PAYDI and for investment adequacy need to add more non-investment cash saving in banks reserve with the adequacy amount higher than PLA technical reserves.
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Gláserová, Jana. "Specifics of the Unearned Premium Reserve in the Accounting of Commercial Insurance Companies." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 62, no. 6 (2014): 1271–77. http://dx.doi.org/10.11118/actaun201462061271.

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Commercial insurance companies are liable to create, on the basis of risks arising from the fulfillment of the object of their activity, technical reserves, which are used to cover liabilities arising to insurance companies from insurance and reinsurance activity. The paper focuses on the technical reserve which is, in accordance with the accounting-legal regulation, created obligatorily in commercial insurance companies – it is the unearned premium reserve.The paper explores the role and place of this technical reserve in the accounting of the commercial insurance companies based on the analysis of its substance, i.e. the objective definition. The paper is based on the methodology of the accounting, evaluation and methods of determining the amount of the technical reserve which will affect the income from operations as well as income tax base of commercial insurance companies. The paper also studied the method of reporting of unearned premium reserve in accounting according to Czech accounting legislation in comparison with International Accounting Standards (IAS/IFRS). The aim of this paper is to determine the impacts of the creation and application of the unearned premium reserve on some important items of the financial statements, which are mainly the income of operations, equity capital and balance sheet as well as to identify the impacts of different reporting of this reserve according to Czech accounting legislation and in accordance with IAS/IFRS. Performing the analysis of the accounting-legal regulation of the unearned premium reserve in the insurance companies, the analysis of the method of accounting of this reserve and also the comparison of reporting of this reserve according to both mentioned regulations is a prerequisite for the fulfillment of the aim.
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Sugiharto, Toto, Novita Sulistiowati, and Rina Nofiyanti. "THE RELATIONSHIPS BETWEEN THE FINANCIAL HEALTH AND FINANCIAL PERFORMANCE OF LIFE INSURANCE FIRMS: AN EMPIRICAL EVIDENCE FROM INDONESIA." Jurnal Ilmiah Ekonomi Bisnis 24, no. 3 (2019): 215–24. http://dx.doi.org/10.35760/eb.2019.v24i3.2238.

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Financial performance is of importance for life insurance firms. It is affected by various factors including financial health which is measured by risk-based capital, technical reserve and equity. The study aims at analyzing the effect of these financial health measures on the financial performance of life insurance firms. Secondary data which include financial performance (i.e., return on assets), risk-based capital, technical reserve and equity of thirty three life insurance firms for the periods of 2011-2016 was used. Panel data regression analysis was performed to analyze the obtained data. Financial performance was affected by risk-based capital, technical reserves and equity in different directions. Financial performance of life insurance firms increases with low risk-based capital and technical reserves, but decreases with high equity.
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DEWI, NI LUH PUTU RATNA, I. NYOMAN WIDANA, and DESAK PUTU EKA NILAKUSMAWATI. "PENENTUAN CADANGAN PREMI UNTUK ASURANSI JOINT LIFE." E-Jurnal Matematika 5, no. 1 (January 30, 2016): 32. http://dx.doi.org/10.24843/mtk.2016.v05.i01.p118.

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Premium reserve is a number of fund that need to be raised by insurance company in preparation for the payment of claims. This study aims to get the formula of premium reserve as well as the value of the premium reserve for joint life insurance by using retrospective calculation method. Joint life insurance participants in this study are limited to 2 people. Calculations in this study is using Indonesian Mortality Table (TMI) 2011, joint life mortality tables, commutation tables, value of annuities, value of single premiums and constant annual premium and using constant interest rates of 5%. The results showed that by using age of the participant insurance joint life of x = 50 and y = 45 years and the premium payment period of t = 10 years, we obtained that the value of premium reserve from the end of the first year until the end of the 11th year has increased every year, while the value of premium reserves from the end of the 12th year and so on until a lifetime has decreased every year.
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England, P. D., and R. J. Verrall. "Stochastic Claims Reserving in General Insurance." British Actuarial Journal 8, no. 3 (August 1, 2002): 443–518. http://dx.doi.org/10.1017/s1357321700003809.

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ABSTRACTThis paper considers a wide range of stochastic reserving models for use in general insurance, beginning with stochastic models which reproduce the traditional chain-ladder reserve estimates. The models are extended to consider parametric curves and smoothing models for the shape of the development run-off, which allow extrapolation for the estimation of tail factors. The Bornhuetter-Ferguson technique is also considered, within a Bayesian framework, which allows expert opinion to be used to provide prior estimates of ultimate claims. The primary advantage of stochastic reserving models is the availability of measures of precision of reserve estimates, and in this respect, attention is focused on the root mean squared error of prediction (prediction error). Of greater interest is a full predictive distribution of possible reserve outcomes, and different methods of obtaining that distribution are described. The techniques are illustrated with examples throughout, and the wider issues discussed, in particular, the concept of a ‘best estimate’; reporting the variability of claims reserves; and use in dynamic financial analysis models.
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SAEFULOH, SANI, I. NYOMAN WIDANA, and LUH PUTU IDA HARINI. "PERHITUNGAN PREMI TAHUNAN TIDAK KONSTAN DAN CADANGAN BENEFIT ASURANSI LAST SURVIVOR DWIGUNA." E-Jurnal Matematika 9, no. 2 (May 26, 2020): 104. http://dx.doi.org/10.24843/mtk.2020.v09.i02.p286.

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Last Survivor Insurance is life insurance for two or more participants with premiums paid until the death of the last participant. This study discusses last survivor endowment insurance for two participants in a married couple. Compensation is paid after the second person dies or both stills alive after the end of a contract. The purpose of this study is to determine the value of non-constant annual premium and benefits reserves in the last survivor endowment insurance. The equivalence principle is used for calculation of premiums. Furthermore, the benefit reserve formula is determined using a prospective method. The value of the benefit reserve will continue to increase as long as premium payments are still being made.
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Boyer, M. Martin, Elijah Brewer, and Willie Reddic. "The Association between Complexity and Managerial Discretion in the Property and Casualty Insurance Industry." Quarterly Journal of Finance 09, no. 03 (July 2019): 1950008. http://dx.doi.org/10.1142/s2010139219500083.

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This paper investigates whether the setting of loss reserves depends on an insurer’s complexity, which is defined by the number of business lines an insurer underwrites and on the insurer’s expertise in those lines. Our results suggest that insurers with higher levels of complexity tend to over-reserve. We also find that, as complexity increases, insurers that are financially weak and smooth their earnings, tend to under-reserve (i.e., bias their loss reserves upward). Further, we find that as complexity increases, insurers with high tax liabilities tend to bias their loss reserves downward (i.e., over-reserve), suggesting that tax strategies are important issues for insurers. An insurer’s degree of complexity is particularly salient when determining the extent to which loss reserves can be aggressively set.
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Felice, Massimo De, and Franco Moriconi. "Claim Watching and Individual Claims Reserving Using Classification and Regression Trees." Risks 7, no. 4 (October 12, 2019): 102. http://dx.doi.org/10.3390/risks7040102.

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We present an approach to individual claims reserving and claim watching in general insurance based on classification and regression trees (CART). We propose a compound model consisting of a frequency section, for the prediction of events concerning reported claims, and a severity section, for the prediction of paid and reserved amounts. The formal structure of the model is based on a set of probabilistic assumptions which allow the provision of sound statistical meaning to the results provided by the CART algorithms. The multiperiod predictions required for claims reserving estimations are obtained by compounding one-period predictions through a simulation procedure. The resulting dynamic model allows the joint modeling of the case reserves, which usually yields useful predictive information. The model also allows predictions under a double-claim regime, i.e., when two different types of compensation can be required by the same claim. Several explicit numerical examples are provided using motor insurance data. For a large claims portfolio we derive an aggregate reserve estimate obtained as the sum of individual reserve estimates and we compare the result with the classical chain-ladder estimate. Backtesting exercises are also proposed concerning event predictions and claim-reserve estimates.
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Dissertations / Theses on the topic "Insurance reserve"

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Chen, Huijun. "Automobile insurance claim reserve modeling." Thesis, McGill University, 2013. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=119758.

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This thesis describes a model for predicting individual claim losses and estimating the capital reserve for the automobile portfolio of a large Canadian insurance company. Depending on the nature of a claim, its settlement can involve medical costs, rehabilitation costs, income compensation costs, optional coverage costs, and even death benefit coverage. Any combination of these costs can occur, and the dependence between them must be accounted for. To this end, a two-level hierarchical structure is adopted. First, a multinomial logistic model is used to predict the combination of costs associated to a claim. The claim severity is then modeled as a function of this composition. A Log-Normal model is used to predict different types of loss; claimant information, accident information, medical and legal report information serve as explanatory variables. The dependence between medical, rehabilitation and income loss is characterized by a Gumbel copula. A Bayesian framework with Markov Chain Monte Carlo sampling is adopted to estimate jointly the copula regression model parameters. Simulations are carried out to obtain prediction of individual loss, the distribution of total portfolio loss and the capital reserve.
Ce mémoire décrit un modèle de prévision des coûts d'indemnisation des particuliers et l'estimation de la réserve de trésorerie du portefeuille automobile d'une grande compagnie d'assurance canadienne. Selon la nature d'une réclamation, son règlement peut comporter des frais médicaux, des frais de réadaptation, une compensation pour perte de revenus, le paiement d'avantages facultatifs, voire même une prestation pour décès. Toute combinaison de ces coûts est susceptible de se produire et leur dépendance doit être prise en compte. Une structure hiérarchique à deux niveaux est adoptée à cet effet. Un modèle logistique multinomial permet d'abord de prédire la structure decoût associée à une réclamation. La gravité des sinistres est ensuite modélisée en fonction de cette structure. Un modèle log-normal permet de prédire divers types de coûts ; des renseignements sur l'assuré, la nature du sinistre, les rapports légaux et médicaux servent de variables explicatives. Une copule de Gumbel caractérise la dépendance entre les frais médicaux, les frais de réhabilitation et la compensation pour perte de revenus. Un cadre bayésien avec échantillonnage par chaîne de Markov Monte-Carlo conduit à une estimation conjointe des paramètres du modèle de régression avec copule. Des simulations permettent de prédire le coût total d'une réclamation ou du portefeuille,ainsi que la réserve de trésorerie.
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Magee, David Douglas. "Comparative analysis of neural networks and traditional actuarial methods for estimating casualty insurance reserve liability /." Digital version accessible at:, 1999. http://wwwlib.umi.com/cr/utexas/main.

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Zimmermann, Pavel. "General Insurance Reserve Risk Modeling Based on Unaggregated Data." Doctoral thesis, Vysoká škola ekonomická v Praze, 2004. http://www.nusl.cz/ntk/nusl-77092.

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Recently the eld of actuarial mathematics has experienced a large development due to a signi cant increase of demands for insurance and nancial risk quanti cation due to the fact that the implementation of a complex of rules of international reporting standards (IFRS) and solvency reporting (Solvency II) has started. It appears that the key question for solvency measuring is determination of probability distribution of future cash ows of an insurance company. Solvency is then reported through an appropriate risk measure based e.g. on a percentile of this distribution. While as present popular models are based solely on aggregated data (such as total loss development from a certain time period), the main objective of this work is to scrutinize possibilities of modelling of the reserve risk (i.e. roughly said, the distribution of the ultimate incurred value of claims that have already happened in the past) based directly on individual claims. These models have not yet become popular and to the author's knowledge an overview of such models has not been published previously. The assumptions and speci cation of the already published models were compared to the practical experience and some inadequacies were pointed out. Further more a new reserve risk model was constructed which is believed to have practically more suitable assumptions and properties than the existing models. Theoretical aspects of the new model were studied and distribution of the ultimate incurred value (the modelled variable) was derived. An emphasis was put also on practical aspects of the developed model and its applicability in the case of industrial use. Therefore some restrictive assumptions which might be considered realistic in variety of practical cases and which lead to a signi cant simpli cation of the model were identi ed throughout the work. Furthermore, algorithms to reduce the number of the necessary calculations were developed. In the last chapters of the work, an e ort was devoted to the methods of the estimation of the considered parameters respecting practical limitations (such as missing observations at the time of modelling). For this purpose, survival analysis was (amongst other methods) applied.
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Moerup, Casper Jacob. "Prediction of claim cost in general insurance." Master's thesis, Instituto Superior de Economia e Gestão, 2019. http://hdl.handle.net/10400.5/18176.

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Mestrado em Actuarial Science
O trabalho seguinte foi realizado durante uma colocação de estágio na If Industrial P & C Insurance, em Estocolmo, na Suécia. Este relatório destaca e discute algumas das diferenças entre o seguro industrial e privado e percorre o processo de “Análise do Ano Normal”. A análise avalia os dados das reivindicações com o objetivo de projetar as perdas em um ano no futuro. A Teoria do Risco Colectivo e a Estimação da Máxima Verossimilhança são utilizadas para obter uma estimativa da gravidade das reivindicações. Além disso, as reservas são estimadas usando o método Chain-ladder. A seção final do relatório descreve uma análise de sensibilidade de um modelo para as reservas de ajuste de sinistros. Esta análise mostra o impacto da introdução de dois novos parâmetros, o que explica a parte já desenvolvida das reivindicações abertas.
The following work was carried out during an internship placement at If Industrial P&C Insurance in Stockholm, Sweden. This report highlights and discusses some of the differences between Industrial and Private insurance and walks through the “Normal Year Analysis”-procedure. The analysis assesses the claims data with the goal of projecting the losses one year into the future. Collective Risk Theory and Maximum Likelihood Estimation is used to obtain an estimate of the severity of the claims. In addition, the reserves are estimated, using the Chain-ladder method. The final section of the report describes a sensitivity analysis of a model for the Claims Adjustment Reserves. This analysis shows the impact of introducing two new parameters, which accounts for the already developed part of the open claims.
info:eu-repo/semantics/publishedVersion
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Chan, Chi-yiu, and 陳志銚. "The application of insurance theory to power system operating reserve market." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2003. http://hub.hku.hk/bib/B3124399X.

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Yang, Lin. "Linear robust H-infinity stochastic control theory on the insurance premium-reserve processes." Thesis, University of Liverpool, 2015. http://livrepository.liverpool.ac.uk/2037227/.

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This thesis deals with the stability analysis of linear discrete-time premium-reserve (P-R) systems in a stochastic framework. Such systems are characterised by a mixture of the premium pricing process and the medium- and long- term stability in the accumulated reserve (surplus) policy, and they play a key role in the modern actuarial literature. Although the mathematical and practical analysis of P-R systems is well studied and motivated, their stability properties have not been studied thoughtfully and they are restricted in a deterministic framework. In Engineering, during the last three decades, many useful techniques are developed in linear robust control theory. This thesis is the first attempt to use some useful tools from linear robust control theory in order to analyze the stability of these classical insurance systems. Analytically, in this thesis, P-R systems are first formulated with structural properties such that time-varying delays, random disturbance and parameter uncertainties. Then as an extension of the previous literature, the results of stabilization and the robust H-infinity control of P-R systems are modelled in stochastic framework. Meanwhile, the risky investment impact on the P-R system stability condition is shown. In this approach, the potential effects from changes in insurer's investment strategy is discussed. Next we develop regime switching P-R systems to describe the abrupt structural changes in the economic fundamentals as well as the periodic switches in the parameters. The results for the regime switching P-R system are illustrated by means of two different approaches: markovian and arbitrary regime switching systems. Finally, we show how robust guaranteed cost control could be implemented to solve an optimal insurance problem. In each chapter, Linear Matrix Inequality (LMI) sufficient conditions are derived to solve the proposed sub-problems and numerical examples are given to illustrate the applicability of the theoretical findings.
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Veprauskaite, Elena. "Reserving, reinsurance and earnings management : evidence from the United Kingdom's property-liability insurance market." Thesis, University of Bath, 2013. https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.575508.

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This thesis examines the joint impact of earnings management incentives (i.e., income smoothing, solvency management and tax management) and reinsurance, together with other institutional factors, on the magnitude and direction of claim (loss) reserves errors in the UK’s property-liability insurance industry. Two reserve error definitions, found in literature, are employed to conduct the analysis. Furthermore, a panel data generalised methods of moments (GMM) estimator is employed to incorporate the dynamic nature of current and past loss reserving errors. Using the GMM estimator in a panel of 151 firms over a period from 1991 and 2005, the study finds support for the conclusions of some prior studies but also inconsistencies with other previous research. The present study finds that the inferences drawn from empirical analyses can be influenced by the definition of loss reserving errors and to some extent how other incentive variables are defined. The results of this study suggest that discretionary loss reserving behaviour tends to persist from one year to another. Therefore, ignoring the dynamic nature of loss reserving errors could lead to biased and unreliable conclusions. The empirical results of this study also find that property-liability insurance managers manipulate claims reserves in order to smooth company’s earnings across accounting periods. Furthermore, empirical evidence is found which indicates that high levels of reinsurance ceded help to reduce the incidence of error in loss reserves. Contrary to expectations, the evidence presented in this thesis suggests that highly solvent insurers under-estimate their claims liabilities. However, no empirical support is found to indicate that insurers over-reserve in order to reduce and/or postpone period tax liabilities. The study also produced mixed results regarding the relation between the type of reinsurance cover used and claim reserve errors. Nevertheless, the empirical results show that firm-specific effects, such as company size and product mix, can have effect on the accuracy of insurers’ reserves. Finally, as this study gives an important insight on discretionary loss reserve manipulation, its conclusions could be of interest and relevance to the business decisions of investors, policyholders, regulators, and other interested parties (e.g., credit rating agencies and accounting standard settlers).
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Li, R. "Control theory for classes of nonlinear systems with application in insurance premium-reserve model." Thesis, University of Liverpool, 2017. http://livrepository.liverpool.ac.uk/3007605/.

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Chigiji, Kudzai. "Determinants of loss reserve errors: evidence from the general insurance market in South Africa." Master's thesis, University of Cape Town, 2018. http://hdl.handle.net/11427/29083.

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A loss reserve is the estimated liability for unpaid claims on all losses that occurred prior to the balance sheet date. The loss reserve is the most significant liability on the balance sheet of a general insurance company, often driving its overall financial performance. The loss reserve is calculated to determine the claims liability for published accounts, internal accounts, statutory accounts, business plans and budgets. It is also required for purposes of pricing and in case of a merger or acquisition. The purpose of the loss reserve can affect the methodology used as well as the extent of over-reserving or under-reserving. Additionally, under-reserving and over-reserving can be driven by the intent to smooth the inome of the general insurer, to mask financial weakness or to defer taxes. This study examines the loss reserve errors in the South African general insurance industry. The study estimates the loss reserve errors using annual firm level data on 79 general insurance companies from 2007 to 2014. The study then proceeds to examine the hypothesised effect of firm level characteristics on the estimated loss reserve errors within a panel data framework. The panel data regression models are estimated using the ordinary least squares technique, the random effects technique and the fixed effects technique. The findings suggest that South African general insurance industry is characterised by over-reserving. Specifcally, approximately two-thirds of the sample reported incidence of over-reserving. The results of the panel data regression analysis indicate that tax shield, financial weakness and premium growth are the significant drivers of reserve errors in the market. Tax shield was found to have a positive relationship with loss reserve errors, whereas financial weakness and growth were found to have an inverse relationship with loss reserve errors. Business line diversification and reinsurance were not found to be significant variables in the model. The management of South African general insurers and regulation of the industry should be directed towards ensuring that general insurers do not manipulate reserves to defer taxes, fund growth through more competitive premiums, or manipulate the perceived financial strength. Additionally, this study identified issues relating to the quality of loss reserve information supplied to the regulator. There is scope for improving the quality and consistency of the loss reserve data supplied to the regulator by the general insurers.
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Balau, Eunice Alexandra Madeira. "Premiums and reserves in life insurance policies : the worst-case scenario and Solvency II." Master's thesis, Instituto Superior de Economia e Gestão, 2014. http://hdl.handle.net/10400.5/7832.

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Mestrado em Ciências Actuariais
As reservas de capital representam um instrumento fundamental no processo de gestão de risco das empresas de seguros, sendo utilizadas no cálculo do capital económico e regulamentar. Como o valor das reservas e dos prémios é fortemente influenciado pelos pressupostos atuariais utilizados, a escolha adequada das bases técnicas é um dos temas de principal interesse para as Companhias de Seguros e para as Entidades Reguladoras. O principal objetivo deste trabalho é o estudo de um método de construção de cenários biométricos para o cálculo de reservas e prémios, adotando uma posição conservadora em relação às bases técnicas de segunda ordem, seguindo a orientação de dois trabalhos fundamentais neste domínio, Christiansen (2010) e Milbrodt and Stracke (1997). Este cenário é determinado através da resolução de um problema de maximização da reserva prospetiva que nos permite definir as bases biométricas de primeira ordem que representam o pior caso do ponto de vista do Segurador. As apólices do ramo vida são descritas pelo modelo Markoviano de estados múltiplos, sendo as reservas prospetivas calculadas recorrendo à equação de Thiele. O novo regime de solvência da União Europeia, Solvência II, também recorre à noção de piores cenários, por forma a quantificar os requisitos de capitais no ramo vida, embora com uma definição diferente. Assim, um objetivo adicional, e também importante, deste trabalho é procurar integrar o método estudado no enquadramento estabelecido pelo projeto Solvência II.
Reserves are a fundamental tool in insurance risk management since they are used to determine the economic or regulatory capital required for insurers to remain solvent. As the values of reserves and premiums are strongly dependent on the actuarial assumptions used, the choice of the adequate elements of the technical basis is a major concern of both regulators and insurance companies. The main purpose of this work is to study a method for the construction of biometric worst-case scenarios that allow premiums and reserves to be on the safe side with respect to given confidence bands for the biometric second-order basis, following the essential works of Christiansen (2010) and Milbrodt and Stracke (1997). This scenario is obtained by solving a maximization problem for the prospective reserve that allows one to find the worst-case biometric valuation basis from the insurer's point of view. In life insurance, policies are often described by the multi-state Markov model of life contingencies and the prospective reserves computed using Thiele's equation. The new solvency regime of the European Union, Solvency II, also uses worst-case scenarios, although constructed in a different way, in order to quantify the solvency capital requirements for life insurance business. Thus, a further important purpose of this thesis is to integrate the method in study under the Solvency II framework.
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Books on the topic "Insurance reserve"

1

United States. General Accounting Office. Accounting and Information Management Division. Reserve ratio. Washington, D.C: The Office, 1995.

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Compliance Review Committee for a Review of the South Carolina Insurance Reserve Fund. Compliance Review Committee for a Review of the South Carolina Insurance Reserve Fund: Final report. Columbia, S.C: State Reorganization Commission, 1996.

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Naab, Bryan. An audit, Unemployment Reserve Fund, Department of Workforce Development. Madison, Wisconsin: Wisconsin Legistative Audit Bureau, 2002.

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United Nations. Economic Commission for Latin America and the Caribbean. Economic Development Division and Deutsche Gesellschaft für Technische Zusammenarbeit, eds. Insurance underwriter or financial development fund: What role for reserve pooling in Latin America? Santiago, Chile: Naciones Unidas, CEPAL, Development Studies Unit, Economic Development Division, 2006.

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South Carolina. General Assembly. Legislative Audit Council. Report to the General Assembly: A review of the South Carolina Insurance Reserve Fund. Columbia, S.C: The Council, 1995.

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Eichengreen, Barry J. Insurance underwriter or financial development fund: What role for reserve pooling in Latin America? Cambridge, Mass: National Bureau of Economic Research, 2006.

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United States. Department of Defense. Office of the Secretary of Defense, National Defense Research Institute (U.S.), and Rand Corporation, eds. Healthcare coverage and disability evaluation for reserve component personnel: Research for the 11th Quadrennial Review of Military Compensation. Santa Monica, Calif: Rand Corporation, 2012.

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Gainer, William J. Unemployment insurance: Issues relating to reserve adequacy and trust fund solvency : statement of William J. Gainer, Associate Director, Human Resources Division, before the Subcommittee on Public Assistance and Unemployment Compensation, Committee on Ways and Means, House of Representatives. [Washington, D.C.?]: U.S. General Accounting Office, 1987.

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United States. Congress. House. Committee on Public Works and Transportation. Subcommittee on Aviation. War risk insurance and the Civil Reserve Air Fleet program: Hearings before the Subcommittee on Aviation of the Committee on Public Works and Transportation, House of Representatives, One Hundred Second Congress, second session, April 7; May 28, 1992. Washington: U.S. G.P.O., 1992.

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Aizenman, Joshua. Reserve requirements on sovereign debt in the presence of moral hazard--on debtors or creditors? Cambridge, MA: National Bureau of Economic Research, 1999.

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Book chapters on the topic "Insurance reserve"

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Heerden, Chris van. "Life Insurance Reserve Securitization." In Structured Products and Related Credit Derivatives, 493–502. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2015. http://dx.doi.org/10.1002/9781119197836.ch21.

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Koller, Michael. "Cash Flows and the Mathematical Reserve." In Stochastic Models in Life Insurance, 29–52. Berlin, Heidelberg: Springer Berlin Heidelberg, 2012. http://dx.doi.org/10.1007/978-3-642-28439-7_4.

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Butsic, Robert P. "Determining the Proper Interest Rate for Loss Reserve Discounting." In Managing the Insolvency Risk of Insurance Companies, 249–61. Dordrecht: Springer Netherlands, 1991. http://dx.doi.org/10.1007/978-94-011-3878-9_9.

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He, Yongming, and Xinguo Xi. "Influence of New Accounting Standard to Reserve for Property Insurance Companies." In Advances in Intelligent and Soft Computing, 561–67. Berlin, Heidelberg: Springer Berlin Heidelberg, 2012. http://dx.doi.org/10.1007/978-3-642-27948-5_74.

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Soloviev, Vladimir, and Vadim Feklin. "Non-life Insurance Reserve Prediction Using LightGBM Classification and Regression Models Ensemble." In Cyber-Physical Systems: Intelligent Models and Algorithms, 181–88. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-95116-0_15.

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von Weizsäcker, Carl Christian, and Hagen M. Krämer. "Public Debt." In Saving and Investment in the Twenty-First Century, 137–99. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-75031-2_6.

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AbstractMore than a third of private wealth in the OECD plus China region consists of entitlements to public retirement benefits. If the state covered these future obligations using a reserve fund, an insoluble problem of investment would arise. It is only by doing without reserve funds that the twenty-first century welfare state is compatible with price stability at non-negative real interest rates. In calculating government obligations according to the ADL method, statistical offices acknowledge the implicit public debt deriving from the retirement system. Systems of public health insurance and public nursing care insurance also generate considerable implicit public debt and corresponding private wealth. The TRILL system advocated by Robert Shiller can make an important contribution to stabilize the high public debt that will be necessary in the future at low real interest rates. We undertake an empirical estimation of the level of public debt in the OECD plus China region. To determine explicit public debt, we use data on net public debt from the International Monetary Fund. Implicit public debt is mainly comprised of the state’s capitalized financial obligations deriving from the public retirement system and public health insurance. Some statistical offices publish data on the retirement benefit entitlements that have accrued within social security systems. This data provides an important basis for our calculations. We estimate that total public debt in the OECD plus China region is equivalent to more than 600% of total annual consumption in the region.
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Gilbert, R. Alton. "Federal Reserve Lending to Banks that Failed: Implications for the Bank Insurance Fund." In The Causes and Costs of Depository Institution Failures, 93–117. Dordrecht: Springer Netherlands, 1995. http://dx.doi.org/10.1007/978-94-011-0663-4_5.

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Straub, Erwin. "Reserves." In Non-Life Insurance Mathematics, 102–15. Berlin, Heidelberg: Springer Berlin Heidelberg, 1988. http://dx.doi.org/10.1007/978-3-662-03364-7_7.

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Gerber, Hans U. "Net Premium Reserves." In Life Insurance Mathematics, 59–73. Berlin, Heidelberg: Springer Berlin Heidelberg, 1997. http://dx.doi.org/10.1007/978-3-662-03460-6_6.

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Gerber, Hans U. "Net Premium Reserves." In Life Insurance Mathematics, 59–73. Berlin, Heidelberg: Springer Berlin Heidelberg, 1995. http://dx.doi.org/10.1007/978-3-662-03153-7_6.

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Conference papers on the topic "Insurance reserve"

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Irizepova, Margarita. "Compulsory Health Insurance Local Funds Reserve System Problems." In International Scientific Conference "Competitive, Sustainable and Secure Development of the Regional Economy: Response to Global Challenges" (CSSDRE 2018). Paris, France: Atlantis Press, 2018. http://dx.doi.org/10.2991/cssdre-18.2018.5.

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Puinko, L. E. "CUSTOMS ADMINISTRATIONS IN A GLOBALIZING WORLD: NEED FOR INTERACTION." In Problems and mechanisms of implementation of national priorities of socio-economic development of Russia. Khabarovsk State University of Economics and Law, 2020. http://dx.doi.org/10.38161/978-5-7823-0740-0-2020-078-085.

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Insurance products in the field of personal insurance, currently offered by insurance companies are diverse. In the Khabarovsk territory, the population is wary of voluntary personal insurance, including due to the level of income and standard of living. One of the directions of development of the insurance market is the integration of insurance products into the reserve financial savings of citizens, and there are prerequisites for this development in the region
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David, A., and G. P. Carson. "Reserve and Price Security: An Analysis of New Insurance Plans." In Symposium on Energy, Finance, and Taxation Policies. Society of Petroleum Engineers, 1988. http://dx.doi.org/10.2118/18511-ms.

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Suwardi, Desnu Anggara, and Yogo Purwono. "The Analysis of Motor Vehicle Insurance Claim Reserve Using Robust Chain Ladder." In 5th Global Conference on Business, Management and Entrepreneurship (GCBME 2020). Paris, France: Atlantis Press, 2021. http://dx.doi.org/10.2991/aebmr.k.210831.031.

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Zariņa, Ilze, Irina Voronova, and Gaida Pettere. "Internal model for insurers: possibilities and issues." In Contemporary Issues in Business, Management and Economics Engineering. Vilnius Gediminas Technical University, 2019. http://dx.doi.org/10.3846/cibmee.2019.026.

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Purpose – solvency II framework regulates how much capital the European Union insurance companies must hold. The amount of necessary capital can be calculated using a standard formula or an internal model. On the basis of the review of other authors’ empirical research, the present paper aim at identifying factors that influence necessary capital and propos-ing necessary areas of improvement for the methodology of an internal capital model. Research methodology – to conduct the paper, the authors have used the extended literature review. Analytical methods and comparative methods have been used for the Baltic non-life insurance market analysis. Findings – the Baltic market does not use an internal model even for a major risk – premium and reserve risks. A review of the current literature findings shows that the main weakness of the standard formula is risk aggregation. Research limitations – identified factors apply to non-life insurance companies under the Solvency II framework with a focus on reserve risk. Practical implications – factors are identified that should be implemented in the internal model methodology. The paper will help avoid using internal models as only a modern risk management tool and improve risk profile accuracy. Originality/Value – improvements of the internal model methodology are proposed based on a literature review. The au-thors have identified the main directions, issues and improvement possibilities for reaching modern risk management.
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Putra, Ariandy Dena, and Bona C. Siahaan. "Implementation of a Quantile Regression Model for the Loss Reserve of Vehicle Insurance Company XYZ." In Proceedings of the 12th International Conference on Business and Management Research (ICBMR 2018). Paris, France: Atlantis Press, 2019. http://dx.doi.org/10.2991/icbmr-18.2019.38.

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Sinaga, Ramson. "An Influence Of Psak 28, 36, a 62 Implementation To The Technical Reserve And Underwriting Revenue In General Insurance." In International Conference on Economics and Banking. Paris, France: Atlantis Press, 2015. http://dx.doi.org/10.2991/iceb-15.2015.32.

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Ewins, Peter J. "Protected Areas and Pipelines in Canada: Balancing Natural Values With Development at the Landscape Level — The Conservation First Principle." In 2002 4th International Pipeline Conference. ASMEDC, 2002. http://dx.doi.org/10.1115/ipc2002-27276.

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“Sustainable Development” is now a widely accepted concept, yet there are surprisingly few concrete examples of it in practice. The pipeline industry operates at broad landscape and regional levels, and now has the opportunity to provide a strong lead in showcasing how society can benefit from major new energy pipelines while not significantly compromising natural and cultural values. To achieve this requires adoption of a fundamental proactive, ecosystem-based principle — the “Conservation First Principle”. In Canada this principle, first stated by Hummel [1], is that “there should be no new or expanded large-scale industrial development until a network of protected areas is reserved which adequately represents the natural region(s) affected by that development”. This approach is not new (e.g., the 1992 commitment by all levels of Canada’s governments to complete such protected areas networks), but it is more urgently needed now in an energy-rich frontier nation like Canada to truly safeguard our natural and cultural values while developing new energy corridors. It is a precautionary approach, akin to an insurance policy we would all be familiar with at a personal level. By identifying key natural habitats in each natural region (areas of similar bio-physical characteristics — there are 486 terrestrial natural regions in Canada), and using sophisticated GIS-based gap analysis, working with local communities, industry and governments, a network of protected areas can be identified and then reserved for legal protection. This network then adequately protects a representative sample of habitats, biodiversity and ecosystem processes in each natural region before or simultaneous with development proposals and approvals. The development of natural gas reserves in the Mackenzie Valley provides all stakeholders with a timely high-profile opportunity to showcase this balanced approach. The NWT’s Protected Areas Strategy provides the widely-supported community-led process to identify and then reserve key cultural and ecological areas in tandem with gas pipeline development. Investors, industry, governments, local communities and the general public all seek the greater certainty and security that such advance planning and balancing provides. The knowledge that certain key areas are off-limits to future development, and that other areas (the largest portion of each natural region) are assigned for sensitive industrial development, sets the stage for a more secure, stable future, in which all values are accommodated satisfactorily. In the push for greater energy security, the pipeline and oil and gas industry should now embrace the Conservation First Principle in energy developments across Canada’s lands and oceans, most immediately as it plans for a major gas pipeline in the Mackenzie Valley.
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Raeva, E., and V. Pavlov. "Planning outstanding reserves in general insurance." In APPLICATION OF MATHEMATICS IN TECHNICAL AND NATURAL SCIENCES: 9th International Conference for Promoting the Application of Mathematics in Technical and Natural Sciences - AMiTaNS’17. Author(s), 2017. http://dx.doi.org/10.1063/1.5007381.

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DOAN, Mai Thi, and Sergey I. DUKHNO. "INVESTIGATION OF POSSIBLE ORGANIZATIONAL CHANGES TO THE HEALTH INSURANCE SYSTEM IN VIETNAM." In International Scientific Conference „Contemporary Issues in Business, Management and Economics Engineering". Vilnius Gediminas Technical University, 2021. http://dx.doi.org/10.3846/cibmee.2021.640.

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Purpose – to identify the prerequisites for organizational changes of the emerging health insurance system in Vietnam. Research methodology - comparative analysis, statistical analysis, case study. Findings – the obligatory health insurance in Vietnam performs its functions only partially. There is still high level of out-of-pocket spending on medical services. First we identified one of the most important challenges to the health insurance system in Vietnam, namely, the population aging. Secondly, we identified and analyzed and the prerequisites (the pre-existing conditions), which can become the basis for the reorganization of the existing health insurance system without major reforms: (1) the cultural values of Asian society, which allow to build a community-based type model of living for the elderly on the basis of “equal with equal”; (2) technological advances in medicine that extend the healthy life of the elderly, (3) trust in traditional medicine, which allows widen the coverage of the poorest “elderly households”. Practical implications - the results of the study require attention from the government and insurance providers when rethinking of organizing process for mandatory medical insurance. Originality/Value – we have identified the ways of possible organizational changes for the health insurance system, making the most of the existing prerequisites. This can help to get closer to the goal of full coverage with health insurance services while achieving a positive social effect. The identified internal reserves make it possible to imple- ment organizational changes without major reforms of the established health insurance system. No studies have been conducted in this perspective.
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Reports on the topic "Insurance reserve"

1

Fleming, G. Ready Reserve Mobilization Income Insurance Program (RRMIIP) Procedures,. Fort Belvoir, VA: Defense Technical Information Center, July 1996. http://dx.doi.org/10.21236/ada316009.

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Eichengreen, Barry. Insurance Underwriter or Financial Development Fund: What Role for Reserve Pooling in Latin America? Cambridge, MA: National Bureau of Economic Research, August 2006. http://dx.doi.org/10.3386/w12451.

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O'Leary, Christopher J. States Lack Adequate Unemployment Insurance Reserves. W.E. Upjohn Institute for Employment Research, 2020. http://dx.doi.org/10.17848/pb2020-22.

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O’Leary, Christopher J., and Kenneth J. Kline. State Unemployment Insurance Reserves Are Not Adequate. W.E. Upjohn Institute, March 2020. http://dx.doi.org/10.17848/wp20-321.

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Wei, Gary, Emma Fan, and Anqian Huang. From Pandemic to Greater Resilience: Enhancing Disaster Risk Financing in the People’s Republic of China. Asian Development Bank, March 2022. http://dx.doi.org/10.22617/wps220090-2.

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The paper proposes five market-based parametric insurance pilot schemes to enhance the PRC’s public finance capacity for disaster risk response, to soften budget shocks, and to bolster long-term fiscal stability and resilience. The paper highlights the inadequacy of public finance instruments—such as fiscal reserves, contingent credit arrangements, and traditional indemnity insurance—to manage the contingent liabilities that disasters represent. It also discusses the effects of disasters on economies, societies, and global supply chains, particularly in the context of climate change.
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Bradford, David, and Kyle Logue. The Influence of Income Tax Rules on Insurance Reserves. Cambridge, MA: National Bureau of Economic Research, January 1997. http://dx.doi.org/10.3386/w5902.

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Calvo, Guillermo, Alejandro Izquierdo, and Rudy Loo-Kung. Optimal Holdings of International Reserves: Self-Insurance against Sudden Stop. Cambridge, MA: National Bureau of Economic Research, July 2012. http://dx.doi.org/10.3386/w18219.

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O'Leary, Christopher J., and Kenneth J. Kline. Are State Unemployment Insurance Reserves Sufficient for the Next Recession? W.E. Upjohn Institute, April 2016. http://dx.doi.org/10.17848/wp16-257.

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