Asset-liability Management Challenges Facing the Life Insurance Industry
Author: Stephen W. Forbes
Publisher:
Published: 2003
Total Pages: 117
ISBN-13:
DOWNLOAD EBOOKRead and Download eBook Full
Author: Stephen W. Forbes
Publisher:
Published: 2003
Total Pages: 117
ISBN-13:
DOWNLOAD EBOOKAuthor: Eric Briys
Publisher: John Wiley & Sons
Published: 2001-06-29
Total Pages: 184
ISBN-13:
DOWNLOAD EBOOKAn in-depth look at the increasingly significant convergence between the insurance industry and the capital markets. This important publication, by two premier financial experts, explores the unique convergence of finance and insurance. The book covers the basics of property-casualty insurance, securitizing insurance risks, looks at life insurance in the United States and ALM in insurance. It addresses the questions and concerns of investment banks, brokerage firms and the insurance/reinsurance sector itself, examines ongoing trends and issues, and how current market pressures on insurance companies do not just create challenges but actually point the way to future promising developments.
Author: Edward I. Altman
Publisher: Irwin Professional Publishing
Published: 1996
Total Pages: 387
ISBN-13: 9780786304639
DOWNLOAD EBOOKAuthor: Marine Corlosquet-Habart
Publisher: John Wiley & Sons
Published: 2015-08-05
Total Pages: 166
ISBN-13: 111918455X
DOWNLOAD EBOOKThis book introduces ALM in the context of banks and insurance companies. Although this strategy has a core of fundamental frameworks, models may vary between banks and insurance companies because of the different risks and goals involved. The authors compare and contrast these methodologies to draw parallels between the commonalities and divergences of these two services and thereby provide a deeper understanding of ALM in general.
Author:
Publisher:
Published: 1993
Total Pages: 114
ISBN-13:
DOWNLOAD EBOOKAuthor: Jean-Paul Laurent
Publisher: Springer
Published: 2016-05-02
Total Pages: 263
ISBN-13: 3319297767
DOWNLOAD EBOOKFocusing on life insurance and pensions, this book addresses various aspects of modelling in modern insurance: insurance liabilities; asset-liability management; securitization, hedging, and investment strategies. With contributions from internationally renowned academics in actuarial science, finance, and management science and key people in major life insurance and reinsurance companies, there is expert coverage of a wide range of topics, for example: models in life insurance and their roles in decision making; an account of the contemporary history of insurance and life insurance mathematics; choice, calibration, and evaluation of models; documentation and quality checks of data; new insurance regulations and accounting rules; cash flow projection models; economic scenario generators; model uncertainty and model risk; model-based decision-making at line management level; models and behaviour of stakeholders. With author profiles ranging from highly specialized model builders to decision makers at chief executive level, this book should prove a useful resource to students and academics of actuarial science as well as practitioners.
Author: Thomas S.Y. Ho
Publisher:
Published: 2012
Total Pages:
ISBN-13:
DOWNLOAD EBOOKRisk management techniques used in banks and trading floors are generally not applicable to insurance companies. Risk measures and risk monitoring approaches must be developed to respond to the challenges to the insurance industry. This paper describes the current risk management practices for both life and general insurance businesses, and proposes the corporate model approach that extends the present approaches to provide corporate management solutions, enterprise risk management in particular, for insurers.
Author: J. David Cummins
Publisher: Springer Science & Business Media
Published: 2012-12-06
Total Pages: 379
ISBN-13: 1461550459
DOWNLOAD EBOOKMajor challenges for life insurance companies have been posed by an unprecedented wave of mergers and acquisitions in the insurance industry and the emergence of non-traditional competitors such as banks, mutual fund companies and investment advisory firms. This is the first book to analyze the determinants of firm performance in the life insurance industry by identifying the `best practices' employed by leading insurers to succeed in this dynamic business environment. The book draws upon data from insurer financial statements as well as upon an extensive survey of life insurer management practices and strategic choices in distribution systems, information technology, mergers and acquisitions, human resources and financial strategies. Generic strategies such as cost leadership, customer focus, and product differentiation are analyzed as well as strategic practices specific to the insurance industry. Best practices are identified by measuring the economic efficiency of insurers and by comparing firms across the industry. Both cost and revenue efficiency are measured relative to best practice efficient frontiers consisting of the industry's dominant life insurance firms. Economies of scale and the effects of mergers and acquisitions on efficiency are also analyzed. Financial strategies are examined with specific reference to pricing policy, valuation of assets and liabilities, and the current state of firm-level risk management systems. The benchmarks established are the result of extensive fieldwork that identifies key financial risks and methodologies to both measure and manage them at the firm level. The results discussed in the book indicate that firm performance is significantly correlated with management practices and strategic choices. Thus, life insurers can improve profitability by adopting optimal combinations of strategies. The book contains important new material on the effects of strategic choices in product distribution systems, information technology, mergers and acquisitions, human resources, and financial risk management policies. In the area of efficiency, the methodology provides a new approach for identifying peer groups of insurers and measuring the performance of individual insurers relative to their peer group. On the topics of risk and pricing, new insights are offered relative to current methodologies and in regard to areas where improvement is clearly warranted. The book concludes with an analysis of the future opportunities and challenges in the life insurance industry facing managers, and the strategic options available to them to cope with these changes.
Author: Leo M. Tilman
Publisher: Euromoney Books
Published: 2003
Total Pages: 386
ISBN-13: 9781843741244
DOWNLOAD EBOOKAs a guide to Assel/Liability Management (ALM) across financial institutions, this book is useful in developing consistent frameworks for risk management.
Author: Nigel Davies
Publisher: International Monetary Fund
Published: 2003-07-01
Total Pages: 45
ISBN-13: 1451856008
DOWNLOAD EBOOKThis paper explores insurance as a source of financial system vulnerability. It provides a brief overview of the insurance industry and reviews the risks it faces, as well as several recent failures of insurance companies that had systemic implications. Assimilation of banking-type activities by life insurers appears to be the key systemic vulnerability. Building on this experience and the experience gained under the FSAP, the paper proposes key indicators that should be compiled and used for surveillance of financial soundness of insurance companies and the insurance sector as a whole.