The valuation of general insurance companies

1990 ◽  
Vol 117 (3) ◽  
pp. 597-669 ◽  
Author(s):  
J. P. Ryan ◽  
K. P. W. Larner
Keyword(s):  
Future Development ◽  
Stochastic Modelling ◽  
Theoretical Framework ◽  
Insurance Companies ◽  
Single Line ◽  
Insurance Company ◽  
General Insurance ◽  
The Future ◽  
Selection Of

AbstractThe paper presents a theoretical framework for the valuation of a general insurance company to actuaries, but also aims to provide reference work for non-actuarial users of appraised values. It distinguishes between the price that may be paid for an insurance operation from what may be called the economic or appraised value. The paper describes the elements of the appraised value calculation, selection of parameters, the uses of such evaluations and explores the future development into explicit stochastic modelling rather than the implicit methodology. Theoretical and practical considerations are illustrated and example valuations of a single line insurer are given.

Managing uncertainty in a general insurance company

1990 ◽  
Vol 117 (2) ◽  
pp. 173-277 ◽  
Author(s):  
C. D. Daykin ◽  
G. B. Hey
Keyword(s):  
Computer Model ◽  
Flow Model ◽  
Insurance Companies ◽  
Simulation Methods ◽  
Insurance Company ◽  
Practical Applications ◽  
General Insurance ◽  
Alternative Approaches ◽  
The Impact

AbstractA cash flow model is proposed as a way of analysing uncertainty in the future development of a general insurance company. The company is modelled alongside the market in aggregate so that the impact of changes in premium rates relative to the market can be assessed. An extensive computer model is developed along these lines, intended for use in practical applications by actuaries advising the management of genera1 insurance companies. Simulation methods are used to explore the consequences of uncertainty, particularly in regard to inflation and investments. Some comments are made on the role of actuaries in general insurance. Alternative approaches to describing the behaviour of an insurance firm in the market are considered.

Determinants of United Kingdom General Insurance Company Performance

2004 ◽  
Vol 10 (5) ◽  
pp. 1079-1110 ◽  
Author(s):  
Y. Shiu
Keyword(s):  
United Kingdom ◽  
Panel Data ◽  
Performance Measures ◽  
Panel Data Analysis ◽  
Ordinary Least Squares ◽  
Insurance Companies ◽  
Company Performance ◽  
Insurance Company ◽  
Data Set ◽  
General Insurance

ABSTRACTDynamic financial analysis has become one of the important tools that actuaries use to model the underwriting and investment operations of insurance companies. The first step in carrying out the analysis is to investigate the most important factors affecting company performance. This paper identifies the determinants of the performance of United Kingdom general insurance companies using a panel data set consisting of economic data and Financial Services Authority/Department of Trade and Industry returns over the period 1986 to 1999. Three performance measures are used to capture different aspects of insurance operations. These measures are related to a number of economic and firm specific variables, chosen on the basis of relevant theory and literature. An ordinary least squares regression model and two panel data models are estimated for each of three performance measures. This paper also addresses several important econometric problems that are usually ignored in applied work in the context of panel data analysis. Based on the empirical results, this study finds that liquidity, unexpected inflation, interest rate level and underwriting profits are statistically significant determinants of the performance of U.K. general insurers.

scholarly journals PENERAPAN METODE BAYES DALAM MENGESTIMASI PREMI KREDIBILITAS PADA ASURANSI UMUM

2021 ◽  
Vol 10 (4) ◽  
pp. 241
Author(s):  
RAIN FERNANDO BANGUN ◽  
I NYOMAN WIDANA ◽  
DESAK PUTU EKA NILAKUSMAWATI
Keyword(s):  
Empirical Bayes ◽  
Theory Model ◽  
Credibility Theory ◽  
Insurance Companies ◽  
Insurance Premiums ◽  
General Insurance ◽  
The Future

Determination of insurance premiums is very important the calculation must be done carefully so that there is experience losses. The purpose of this research is to find out the application of empirical Bayes credibility theory Model 1 and estimate of the credibility premium on general insurance. A method that can help in overcoming these problems, that is empirical Bayes credibility theory Model 1, results of the estimated credibility premium credibility (in Euros) for insurance companies Alianz, Csob, Generali, Koop, Unisqa, and Wusten respectively as follows: 46.774811, 7.801307, 10.368991, 58.812250, 6.703035, and 5.091605.  These results, the average claim is greater than the credibility premium, so that insurance companies can reserve premiums for the future.

scholarly journals The Development of Overseas Education in the New Era of China

2020 ◽  
Vol 4 (1) ◽  
pp. 1
Author(s):  
Zhuoyuan Zhang ◽  
Huaiyin Hou
Keyword(s):  
Study Abroad ◽  
International Education ◽  
Future Development ◽  
Development Trend ◽  
New Era ◽  
The Future ◽  
Return Home ◽  
Overseas Education ◽  
Different Characteristics ◽  
Selection Of

The development of overseas education in the new era of China can be divided into four stages, each of which has different characteristics. The achievements of the development of China’s overseas education are as following: first, persisting in the overall idea of “supporting study abroad, encouraging return home and freedom of coming and going”; second, the number of students of overseas education keeps rising; third, the selection of overseas education is gradually diversified. The future development trend of overseas education is shown as: the return boom is in the ascendant; the “domestic overseas education” is gradually developing; and China’s international education ushers in the climax.

scholarly journals Analisis Efisiensi Asuransi Umum Syariah di Indonesia Tahun 2013-2015: Aplikasi Metode Data Envelopment Analysis (DEA)

2017 ◽  
Vol 4 (9) ◽  
pp. 757
Author(s):  
Yulia Wahyu Ningsih ◽  
Noven Suprayogi
Keyword(s):  
Data Envelopment Analysis ◽  
Insurance Companies ◽  
Scale Efficiency ◽  
Data Envelopment ◽  
Insurance Company ◽  
Average Value ◽  
General Insurance ◽  
Decision Making Unit ◽  
Dea Analysis ◽  
Input Variables

This study aims to analyze the efficiency of sharia general insurance companies in Indonesia. The input variables used are total assets, expenses, and payment of claims, while the output variable is the income and tabarru’ funds. The method were used to measure the level of efficiency is the Data Envelopment Analysis (DEA) with the assumption of Variable Return to Scale (VRS) with input and output orientation. The samples are 12 sharia general insurance companies during 2013-2015. The results of the study indicate that the average result of DEA analysis for the entire DMU (Decision Making Unit) has not been efficient. The average value of economic efficiency (CRS) by 0.978, technically efficiency (VRS) for 0.925, and scale efficiency for 0.945. Source of inefficiency sharia insurance company is the scale of operations and management of input to output is not optimal.

scholarly journals Early Warning System Analysis of General Insurance Companies

2021 ◽  
Author(s):  
Amandhita Pratiwi Hidayah Ndaru ◽  
Yuli Soesetio
Keyword(s):  
Early Warning ◽  
Financial Services ◽  
Early Warning System ◽  
System Analysis ◽  
Warning System ◽  
Test Methods ◽  
Insurance Companies ◽  
Company Performance ◽  
Insurance Company ◽  
General Insurance

This research aimed to examine the effect of an Early Warning System on insurance company performance. The sample included insurance companies listed on The Financial Services Authority (OJK) in 2016-2018. Fifty samples were obtained through purposive sampling. Data were analysed using regression. The results showed that the loss ratio, liquidity ratio, technical reserve ratio and age of the insurance company affected their performance, but not consistently across the three regression test methods. Meanwhile, the retention ratio did not affect the performance of insurance companies consistently. These results suggest that Indonesian insurance companies having a tendency to prioritize public trust to increase the insurance business. Keywords: Early Warning System, Insurance Company Performance, Indonesia General Insurance

scholarly journals Formation of the optimal portfolio of insurer’s services of the voluntary types of insurance

2016 ◽  
Vol 7 (1) ◽  
pp. 45-51 ◽  
Author(s):  
Valentyna Levchenko ◽  
Myroslav Ostapenko
Keyword(s):  
Portfolio Optimization ◽  
Optimization Model ◽  
Optimization Problem ◽  
Optimal Portfolio ◽  
Optimal Structure ◽  
Insurance Companies ◽  
Insurance Company ◽  
Strategic Decisions ◽  
General Insurance ◽  
Insurance Portfolio

The article studies the possibility of using optimization modelling to form the optimal structure of insurance services’ portfolio of insurance companies. Based on the data of net insurance payments and profitability of the voluntary types of insurance in 2005-2015, the authors conducted their analysis according to the possibility to be included in the general insurance portfolio of the insurance company. The optimization model is based on the approach developed by G. Markowitz. The formation of insurance services portfolio is conducted by solving the optimization problem to maximize the portfolios’ profitability or to minimize the portfolio’s risks. The obtained results can be used in making strategic decisions by the management regarding the development of insurance companies. Keywords: insurance company, insurance service, insurance portfolio, portfolio optimization

scholarly journals STOCHASTIC MODELLING OF CASH FLOW FOR PERSONAL INSURANCE FUND USING THE CLOUD DATA STORAGE

2018 ◽  
pp. 153-162
Author(s):  
Kseniia Bazilevych ◽  
Mary Mazorchuk ◽  
Yurii Parfeniuk ◽  
Viktoriia Dobriak ◽  
Ievgen Meniailov ◽  
...  
Keyword(s):  
Data Storage ◽  
Cash Flow ◽  
Stochastic Modelling ◽  
Cash Flows ◽  
Insurance Companies ◽  
Estimation Accuracy ◽  
Insurance Fund ◽  
Insurance Company ◽  
Cloud Data ◽  
Cloud Data Storage

In this paper the model and applied information system are proposed for modelling cash flow of insurance funds with use cloud data storage. Cash flow valuation is performed taking into account contextual characteristics of an insured under conditions of stochastic uncertainty. The proposed insurance cash flow model of the financial fund of insurance company allow to account the financial solvency probability based on the analysis of contextual properties of insureds, that increase the estimation accuracy of the modeling cash flows. Also, the model takes into account insurance bonus non-payment during the insurance company operation. In this paper, we propose a structure of an informational system, which is called “Insurance Life”. This system supports downloading and uploading data with the cloud service pCloud according to safety requirements of data. The main results of the research are introduced into practice of the operation of insurance companies in forms of software applications and results of calculations.

scholarly journals Job Satisfaction of the Employees of the General Insurance Companies in Bangladesh

2016 ◽  
Vol 5 (1) ◽  
pp. 7-18
Author(s):  
Mohammad Jashim Uddin ◽  
Md. Masud Chowdhury ◽  
Masuma Yasmin ◽  
Aklima Akter
Keyword(s):  
Job Satisfaction ◽  
Job Security ◽  
Insurance Companies ◽  
Primary Data ◽  
Insurance Company ◽  
General Insurance ◽  
Team Spirit ◽  
Positive Feelings ◽  
Strongly Agree ◽  
Negative Feelings

This study investigates the employees’ job satisfaction of general insurance companies in Bangladesh. A questionnaire was utilized to collect primary data from both public and private general insurance companies. The first part of the questionnaire comprises of the demographic profile of the respondents and the last part indicates the key measuring variables on a Likert scale ranging from 5 (strongly agree) to 1 (strongly disagree) of job satisfaction. The total number of respondents for this study was 385. 74.80 percent of the total respondents have taken from the private general insurance companies, and the remaining percentage from the public general insurance company. 70 percent of the total respondents were male respondents, and 30 percent of the total respondents were female respondents. Factor analysis and correlation matrix have been conducted to analyze the collected data. This study postulates that employees of general insurance companies have positive as well as negative feelings. Three factors reflect positive feelings toward their jobs. These factors are pay and promotional potential, the well-organized chain of command and general working condition. On the other hand, two factors are responsible for negative feelings. These factors are poor team spirit and poor job security. This paper also advocates some recommendations to maximize the positive feelings and to minimize the negative. The proper higher authority should ensure participating decision method to take any decision, the fair delegation, and direct relationship with sub-ordinates to enhance the team spirit for minimizing the dissatisfaction of the employees and should ensure the job security of the employees to get their best effort to achieve the organizational goal.

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