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Solvency prediction for property-liability insurance companies : evidence from the financial crisis

Recurso electrónico / electronic resource
Registro MARC
Tag12Valor
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040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
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1001 ‎$0‎MAPA20150005236‎$a‎Rauch, Jannes
24510‎$a‎Solvency prediction for property-liability insurance companies‎$b‎: evidence from the financial crisis‎$c‎Jannes Rauch, Sabine Wende
520  ‎$a‎The financial crisis of 2008 generated sizeable losses in the financial sector around the world. Because regulators are used for predicting insurers' financial strength in order to detect financially distressed firms as early as possible, we question how reliably regulators can forecast financial strength, especially during a financial crisis. We use the company-level data of German property-liability insurers from 2004 to 2011 to examine factors that affect the insurer's regulatory solvency ratio. Furthermore, we develop a prediction model to classify the insurers regarding their financial strength. We show that, in particular, the lagged solvency ratio can be used to predict the future regulatory solvency ratio irrespective of the economic conditions. Thus, our results imply that German regulators are able to detect insurers in financial distress early enough to take appropriate actions to protect policyholders' interests. Our results do not support the adoption of tighter regulations or higher capital requirements.
650 4‎$0‎MAPA20080624934‎$a‎Seguro de daños patrimoniales
650 4‎$0‎MAPA20080552701‎$a‎Solvencia
650 4‎$0‎MAPA20080590567‎$a‎Empresas de seguros
650 4‎$0‎MAPA20080601324‎$a‎Entidades financieras
650 4‎$0‎MAPA20080606954‎$a‎Legislación de seguros
650 4‎$0‎MAPA20080579814‎$a‎Crisis financiera
650 4‎$0‎MAPA20080612023‎$a‎Predicciones económicas
650 4‎$0‎MAPA20080586294‎$a‎Mercado de seguros
651 1‎$0‎MAPA20080637996‎$a‎Alemania
7001 ‎$0‎MAPA20100031322‎$a‎Wende, Sabine
7730 ‎$w‎MAP20077100215‎$t‎Geneva papers on risk and insurance : issues and practice‎$d‎Geneva : The Geneva Association, 1976-‎$x‎1018-5895‎$g‎05/01/2015 Volumen 40 Número 1 - enero 2015 , p. 47-65