New risk-based capital standars in the European Union : a proposal based on empirical data

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<title>New risk-based capital standars in the European Union</title>
<subTitle>: a proposal based on empirical data</subTitle>
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<titleInfo type="alternative">
<title>Risk management and insurance review</title>
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<name type="personal" usage="primary" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080147648">
<namePart>Schmeiser, Hato</namePart>
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<dateIssued encoding="marc">2004</dateIssued>
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<abstract>In response to criticism concerning the current solvency system, the European Commision  is developing new rules for insurance companies operating in the members states of the European Union (EU). Under this so-called Solvency II concept, an insurer is allowed to verify its solvency using an internal risk management model previously approved by the regulatory authority. In this article we develop such an internal risk management approach for property- liability insurers that is based on dynamic finantial analysis (DFA). The proposed concept uses a simulation technique and models the central risk factors from the investment and underwriting areas of an insurance company. On the basis of the data provided by a German insurer, the ruin probalities under different scenarios and varying planning horizons are calculated </abstract>
<note type="statement of responsibility">Hato Schmeiser</note>
<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080567613">
<topic>Unión Europea</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080590567">
<topic>Empresas de seguros</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080602642">
<topic>Modelos de simulación</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080558970">
<topic>Inversiones</topic>
</subject>
<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080545260">
<topic>Riesgos</topic>
</subject>
<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080547271">
<topic>Finanzas</topic>
</subject>
<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080552701">
<topic>Solvencia</topic>
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<title>Risk management and insurance review</title>
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<publisher>New York : The American Risk and Insurance Association</publisher>
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<part>
<text>Vol. 7, nº 1 Spring 2004 ; p. 41-52</text>
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