V The Verification of Technical Reserves in Non-Life Insurance

1971 ◽  
Vol 20 (01) ◽  
pp. 51-53
Author(s):  
C. M. Stewart
Keyword(s):  
Life Insurance ◽  
Risk Groups ◽  
Insurance Companies ◽  
Life Assurance ◽  
Careful Scrutiny ◽  
Sufficient Detail ◽  
Satisfactory Method ◽  
Claim Frequency ◽  
The Government ◽  
Do So

The reader of this note will know well the method used in the U.K. for the verification of technical reserves (i.e. the net liability) in life assurance. The net liability must be calculated by a qualified actuary and the methods and bases used must be described in sufficient detail in Schedule 4 of The Insurance Companies (Accounts and Forms) Regulations 1968 for their suitability to be apparent from a careful scrutiny of these and the other financial statistics submitted in accordance with the Regulations. As the data are made public, this scrutiny can be made not only by the Government Actuary in advising the supervisory authorities at the Department of Trade and Industry, but also by any other qualified actuary who cares to do so, which is an equally important discipline. Under this system, the maximum freedom can be allowed to the company and its actuary, but there has hitherto been no equally satisfactory method available for the objective scrutiny of non-life technical reserves. However, the new Claim Frequency Analyses and Claim Settlement Analyses prescribed in Parts II and III of Schedule 3 to the 1968 Regulations should go a long way towards remedying this deficiency. These analyses are to be supplied separately for each class of insurance in each of a company's main markets, and separately for such risk groups within each class as the company decides to be appropriate.

The Effect of Investments and Risk Based Capital (RBC) of Tabarru Funds on Company (Case Study of Sharia Insurance in Indonesia for 2014-2019)

2020 ◽  
Vol 8 (1) ◽  
pp. 87-97
Author(s):  
Nana Diana ◽  
Tati Apriani
Keyword(s):  
Life Insurance ◽  
Statistical Tests ◽  
Linear Regression Analysis ◽  
Sampling Technique ◽  
Multiple Linear Regression Analysis ◽  
Insurance Companies ◽  
Coefficient Of Determination ◽  
Verification Method ◽  
Investment Returns ◽  
The Government

This study aims to examine the influence of investment returns and Risk Based Capital (RBC) Tabarru Funds to the profit of sharia life insurance in Indonesia from 2014-2019. This study The type of this research is quantitative research with descriptive verification as a method. This research method uses descriptive verification method with quantitative approach. The data used in this study were sourced from the financial statements of Islamic life insurance companies in Indonesia for the 2014-2019 period. Then the data obtained were analyzed using multiple linear regression analysis and hypothesis testing consisting of t test and f test with the help of SPSS 21 software. The sampling technique uses non probability sampling with purposive sampling technique. Based on the results of the study it can be seen that the development of investment returns on Sharia Life Insurance in Indonesia has fluctuated and even suffered losses. While the development of Risk Based Capital (RBC) has increased and decreased but overall above 120% as determined by the government. Likewise, the profits earned in each year fluctuate. The results of statistical tests show that investment results partially have a positive effect on profit and Risk Based Capital (RBC) of Tabarru funds partially has a negative effect on profit. Simultaneously investment return and Risk Based Capital (RBC) affect on profit. In addition, the results of the coefficient of determination (R2) were obtained which obtained a value of 81%. This shows that the variable investment returns and Risk Based Capital (RBC) can affect earnings by 81% and the remaining 19% is influenced by other variables not used in this study.

scholarly journals Life insurance company efficiency: best method and proxies

2018 ◽  
Vol 9 (1) ◽  
pp. 6-19 ◽  
Author(s):  
William Wise
Keyword(s):  
Life Insurance ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Critical Feature ◽  
Life Insurer ◽  
Financial Outcome ◽  
Do So

Life insurance is a very important segment of the economy of most countries as demonstrated by the investments, premium revenue and numbers employed. Hence, it is paramount to determine accurately how well life insurance companies (LICs) perform and how viable they are for the benefit of both other industries and national economies.Three papers that investigate LIC efficiency directly analyze how efficiency affects LIC profits. One critical feature is that they show that the inefficiency of LICs can greatly affect their (financial) outcome and ultimately their survivorship. Thus, said research clearly indicates that life insurer efficiency is a crucial area to investigate and assess and that it could greatly enhance the ability to properly monitor and inspect the life insurers.This article co-ordinates information regarding life insurance efficiency studies to help researchers learn which approaches, methods and output/input proxies to use. While some papers do so for some of the aspects that are important and necessary for life insurance efficiency studies, this is the first to deal with said aspects together. More specifically, this paper especially considers and evaluates the different methods and output proxies used in life insurance efficiency studies, as they seem to be the elements where the most disagreement exists between researchers. In addition, this article is unique in examining how input (proxy) prices are used in life insurance efficiency studies.

scholarly journals On Legislation as to Life Insurance and Life Insurance Companies

1871 ◽  
Vol 16 (2) ◽  
pp. 77-98 ◽  
Author(s):  
T. B. Sprague
Keyword(s):  
United States ◽  
United Kingdom ◽  
Life Insurance ◽  
United States Of America ◽  
The United States ◽  
Insurance Companies ◽  
The Past ◽  
Life Assurance ◽  
The United Kingdom ◽  
The Law

The past session of Parliament has witnessed the passing of an Act for the regulation of Life Assurance Companies in the United Kingdom, which, while introducing great changes in the law, still stops very far short of the system of legislation which has been for several years in operation in a few of the United States of America, and which is warmly approved of and urgently recommended for adoption by some persons in this country. The present may therefore be considered a fitting time for reviewing what has been done and considering whether any further legislation is desirable, and if any, of what nature it should be.

Some Notes on Laws affecting Policies of Life Assurance

1891 ◽  
Vol 29 (5) ◽  
pp. 381-419
Author(s):  
William Kent Lemon
Keyword(s):  
Life Insurance ◽  
Insurance Companies ◽  
Inaugural Address ◽  
Life Assurance ◽  
Legal Questions

In response to the suggestion of our President, in his inaugural address for the present session, I commenced to put together some notes which seemed suitable for a paper to be read before one of the provincial institutes. In this I proposed to deal with some practical legal questions which are encountered by officials engaged in various positions outside the head offices of life insurance companies.

The Actuarial Practices of British Insurance Companies in Peripheral Markets: The Case of Spain (1890–1936)

2015 ◽  
Vol 17 (2) ◽  
pp. 237-264 ◽  
Author(s):  
JERÒNIA PONS PONS ◽  
PABLO GUTIÉRREZ GONZÁLEZ
Keyword(s):  
World War Ii ◽  
Life Insurance ◽  
Statistical Information ◽  
Spanish Population ◽  
Insurance Companies ◽  
World War ◽  
Death Rates ◽  
Foreign Companies ◽  
Spanish Influenza ◽  
Life Assurance

The backwardness of actuarial techniques in Spain and the lack of Spanish mortality tables had a bearing on the development of life insurance in Spain. The actuaries of the domestic and foreign companies operating in this country used other countries’ mortality tables, corrected upwards, to draw up their policies. With actuarial reports from the Gresham Life Assurance Society, established in Spain in the 1890s, the difficulties actuaries had to confront to adjust expectations to Spanish reality can be followed for decades. On the basis of statistical information from 1896 to 1937, a comparison is made between expected and actual death rates. Furthermore, the information from this company enables a comparison with other countries in which it operated (more developed and less developed than Spain) and with the profit and loss results of other domestic and foreign companies operating in the country. Moreover, the problems caused for actuaries by unforeseen events that affected the Spanish population in particular, such as the “Spanish Influenza” or the Civil War, can also be studied. On the basis of this valuable documentation, certain patterns of the difficulties faced by actuaries operating in economically backward countries before World War II can be established.

Life Insurance Potential in India: An Economic Approach

2002 ◽  
Vol 6 (2) ◽  
pp. 11-18
Author(s):  
Ashok Thampy ◽  
S. Sitharamu
Keyword(s):  
Life Insurance ◽  
Business Strategy ◽  
Insurance Coverage ◽  
Insurance Companies ◽  
Public Confidence ◽  
Insurance Sector ◽  
The People ◽  
Building Activities ◽  
The Government ◽  
The Individual

The market for life insurance in India has evolved in the context of the specific socio-economic and political environment that existed over the years. Prior to nationalisation, although the insurance business had grown considerably, it remained an essentially urban phenomena. This limited spread of life insurance was also marked by many malpractices, deficiencies and frequent liquidation of insurance companies, shaking public confidence in purchasing insurance. The objectives of nationalisation were to spread insurance coverage, to provide a stable environment thus increasing the confidence of the people in insurance, and to harness the resources generated for nation building activities as determined by the government. The purpose of this paper is to estimate the size of the individual life insurance market that exists in India. In this study, we have not provided an estimate of the potential for group life insurance. It is hoped that these estimates will help to plan the business strategy and set goals in the life insurance sector.

The effect of size and other economic factors on the expense rate behaviour of UK life insurance companies

1983 ◽  
Vol 110 (2) ◽  
pp. 383-388 ◽  
Author(s):  
P. D. Praetz
Keyword(s):  
Size Effect ◽  
Life Insurance ◽  
Insurance Companies ◽  
Economic Factors ◽  
Relevant Research ◽  
Empirical Results ◽  
Life Assurance ◽  
Control Output ◽  
Rate Behaviour ◽  
Strong Size Effect

This paper finds a strong size effect for the total business of 106 U.K. life companies from the 1981–82 Insurance Directory and Year Book.The industry is regulated by the 1982 Insurance Companies Act which consolidated earlier legislation. This does not control output or prices of firms but many other items including investment. The industry is not highly concentrated with the five largest firms in 1980 with 30% of premiums. In 1980, total ordinary branch premiums amounted to £5.8 billion.Section 2 surveys briefly some relevant research, while §3 discusses the data and size and other economic factors for life assurance firms. Section 4 discusses the empirical results while §5 has a brief conclusion.

Life insurance company takeovers. A Report by a Working Party of the Life Assurance Joint Committee of the Institute of Actuaries and the Faculty of Actuaries, 15 October 1993

1994 ◽  
Vol 121 (1) ◽  
pp. 199-258 ◽  
Author(s):  
E. B. O. Sherlock ◽  
H. W. Froggatt ◽  
N. R. Gillott ◽  
R. M. Harvey ◽  
J. A. Jenkins ◽  
...  
Keyword(s):  
Life Insurance ◽  
Conflicts Of Interest ◽  
Working Party ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Life Assurance ◽  
Guidance Note ◽  
The Way

AbstractThe working party was required to establish what actuarial information is needed by the financial world for the proper evaluation of a bid for a quoted insurance company, and, in the light of these findings, to consider what may be required in the way of guidance to actuaries. The report considers the issuesw hich occur when life insurance companies aresu bject to takeovers and to other changes of ownership. The Takeover Code has many implications in such situations and these are discussed fully, particularly any conflicts of interest and the independence or otherwise of the actuaries involved. The interests of policyholders are considered and advice is proffered to actuaries. A Guidance Note is being issued.

scholarly journals Thai Non-Life Insurance Companies’ Finances and the Historic 2011 Floods

2021 ◽  
Vol 8 (1) ◽  
pp. 6-10
Author(s):  
Kanitsorn Terdpaopong ◽  
Robert Rickards
Keyword(s):  
Life Insurance ◽  
Performance Metrics ◽  
Financial Information ◽  
Insurance Companies ◽  
Inferential Statistics ◽  
Starting Point ◽  
Insurance Firms ◽  
The Government

The devastating floods in Thailand caused the country's fifth-costliest disaster in the last 31 years Many companies suffered in every facet. As a result, Thai non-life insurance firms lost $4.1 billion. Focusing on improvements in their main performance metrics, this article studies the financial implications of floods for those businesses. The financial information of the Thai non-life insurance is taken from three different periods; 2008 – 2010 (prior to the foods), 2011 (the floods year), and 2012 – 2014 (post floods). Descriptive and inferential statistics reflect variances in non-life insurance companies where the flooding had a devastating effect on them. This study serves as a starting point for Thai insurance firms, the government, and potential researchers.

Sign in / Sign up

Export Citation Format

Share Document