Buckham / Wahl / Rose Executive's Guide to Solvency II

1. Auflage 2010
ISBN: 978-0-470-92568-3
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 208 Seiten, E-Book

Reihe: SAS Institute Inc

A straightforward guide to the evolution, benefits, andimplementation of Solvency II
Providing a guide to the evolution, practice, benefits, andimplementation of Solvency II, Executive's Guide toSolvency II deftly covers this major European regulationwhich ensures that insurers can meet their risk-basedliabilities over a one-year period to a 99.5% certainty. Partof the Wiley and SAS Business series, this book will guide youthrough Solvency II, especially if you need to understand thesubtleties of Solvency II and risk-based capital in basicbusiness language. Among the topics covered in this essential bookare:
* Background to Solvency II
* Learning from the Basel Approach
* The Economic Balance Sheet
* Internal Models
* People, Process, and Technology
* Business Benefits of Solvency II
Executive's Guide to Solvency II has as itsaim an explanation for executives, practitioners, consultants, andothers interested in the Solvency II process and the implicationsthereof, to understand how and why the directive originated, whatits goals are, and what some of the complexities are. There is anemphasis on what in practice should be leveraged upon to achieveimplementation, specifically data, processes, and systems, as wellas recognition of the close alignment demanded between actuaries,the risk department, IT, and the business itself.

Autoren/Hrsg.

Buckham, David

Wahl, Jason

Rose, Stuart

Inhaltsverzeichnis

Preface.
Acknowledgments.
Chapter 1: The Evolution of Insurance.
Risk Perception.
Early Risk Instruments.
Role of Insurance in Economic Growth and Prosperity.
Conclusion.
Chapter 2: Insurers' Risks.
Insurable and Uninsurable Events.
Risk Taxonomy.
Underwriting Risk.
Market Risk.
Credit Risk.
Operational Risk.
Liquidity Risk.
Risk Transfer and Mitigation.
Conclusion.
Chapter 3: Solvency II Chronology.
Need for Insurance Regulations.
Why Do Insurers Fail?
Causes of Failure.
Initial Solvency Directives.
Process of the Solvency II Project.
Conclusion.
Chapter 4: Learning from the Basel Approach.
Regulation in Context of the Credit Crisis.
Evolution of Banking Regulation.
Application to Solvency II: Regulation.
Application to Solvency II: Business Logic.
Lessons from the Credit Crisis.
Conclusion.
Chapter 5: The Solvency II Directive in Brief.
What Is Solvency II?
Solvency II Is Principles Based.
Partial and Internal Models.
Economic Capital.
The Economic Balance Sheet.
Structure of the Directive.
Conclusion.
Chapter 6: The Economic Balance Sheet.
Total Balance Sheet Approach.
Quantitative Stipulations of the Level 1 Text.
The Standard Formula.
Non-Life Underwriting Risk Module.
Market Risk Module.
Default Risk Module.
Conclusion.
Chapter 7: Internal Models.
Complexity of Implementation.
Definition and Scope of Internal Models.
Internal Models Application.
Tests and Standards.
Conclusion.
Chapter 8: People, Process, and Products.
Key to a Successful Solvency II Project.
People.
Process.
Technology.
Data Management.
Risk Analysis.
Reporting.
Conclusion.
Chapter 9: Business Benefits.
Regulation Past and Present.
Benefits of an Enterprise Data Management Framework.
Benefits of an Economic Balance Sheet.
Benefits in Perspective.
Benefits beyond Solvency II.
Conclusion.
Notes.
Glossary.
Selected References.
About the Authors.
Index.

Über Autor(innen)

David Buckham is the founder and president of MonocleSolutions, an international risk assessment and optimizationcompany that provides various products and consulting services byway of intellectual property.
Jason Wahl is head of research at Monocle Solutions. Hisareas of interest include regulation of financial institutions andfinancial stability.
Stuart Rose is Global Insurance Marketing Manager at SASInstitute, a market-leading business intelligence and analyticssoftware vendor. He has worked for a variety of software vendorswhere he was responsible for marketing, product management, andapplication development.