scholarly journals Premium Risk Net of Reinsurance: From Short-Term to Medium-Term Assessment

Risks ◽  
2019 ◽  
Vol 7 (3) ◽  
pp. 72
Author(s):  
Antonio Pallaria ◽  
Nino Savelli
Keyword(s):  
Risk Model ◽  
Risk Mitigation ◽  
Solvency Ii ◽  
Medium Term ◽  
Short Term ◽  
Life Insurers ◽  
Actuarial Risk ◽  
The Impact ◽  
Solvency Ratio ◽  
Premium Risk

Solvency II requirements introduced new issues for actuarial risk management in non-life insurance, challenging the market to have a consciousness of its own risk profile, and also investigating the sensitivity of the solvency ratio depending on the insurance risks and technical results on either a short-term and medium-term perspective. For this aim, in the present paper, a partial internal model for premium risk is developed for three multi-line non-life insurers, and the impact of some different business mixes is analyzed. Furthermore, the risk-mitigation and profitability impact of reinsurance in the premium risk model are introduced, and a global framework for a feasible application of this model consistent with a medium-term analysis is provided. Numerical results are also figured out with evidence of various effects for several portfolios and reinsurance arrangements, pointing out the main reasons for these differences.

Performance Funding Policy Effects on Community College Outcomes: Are Short-Term Certificates on the Rise?

2017 ◽  
Vol 46 (1) ◽  
pp. 3-39 ◽  
Author(s):  
Amy Y. Li ◽  
Alec I. Kennedy
Keyword(s):  
Postsecondary Education ◽  
Performance Metrics ◽  
State Level ◽  
Cost Effective ◽  
Performance Funding ◽  
Funding Policy ◽  
Level Control ◽  
Medium Term ◽  
Short Term ◽  
The Impact

Objective: Performance funding (PF) policies allocate a portion of state funding to colleges based on student outcomes. This study is the first to account for policy type and design differences, and explores the impact of performance funding on three levels of credential completions: short-term certificates, medium-term certificates, and associate’s degrees. Method: We create a panel dataset of 751 two-year colleges from years 1990 to 2013 using data from the Integrated Postsecondary Education Data System. We conduct a series of analyses using difference-in-differences with the inclusion of college- and state-level control variables. Results: We find that, on average, performance funding produces no significant changes in completions of any of the three credentials. Policy types characterized by a greater proportion of funding tied to the base budget, mission differentiation in performance metrics, inclusion of underrepresented student metrics, and longer periods of operating years produce an increase in short-term certificates, no significant change in medium-term certificates, and a decrease in associate’s degrees. Contributions: This study’s findings suggest that because awarding more short-term certificates is a relatively quick and cost-effective way to capture performance funds, colleges might be engaging in a path of least resistance by churning out short-term certificates and redirecting focus away from associate’s degrees, which is concerning given that short-term certificates generally offer limited labor market benefits compared to medium-term certificates and associate’s degrees. Our results also underscore the importance of policy designs in explaining differential impacts on credential completion.

Comparing Solvency II and Life and General Insurance Capital approaches to capital determination of a life portfolio in the presence of stress scenarios

2018 ◽  
Vol 13 (1) ◽  
pp. 36-66
Author(s):  
Kangjing Tan ◽  
Aaron Bruhn
Keyword(s):  
Risk Management ◽  
Solvency Ii ◽  
Capital Requirements ◽  
Life Insurers ◽  
General Insurance ◽  
Pillar Structure ◽  
Matching Adjustment ◽  
The Impact ◽  
Capital Intensive

AbstractThe European-centric Solvency II and Australian-centric Life and General Insurance Capital regimes are two examples of risk-based approaches to capital determination and risk management for life insurers. Both consist of a three-pillar structure covering capital, risk management and disclosure requirements. We apply the capital requirements of each regime to three synthetic sets of insurance policies, including a risk, annuity and combined portfolios, and consider the impact on capital arising from three separate and relatively severe stress events. Results highlight the relatively capital intensive nature of annuities, the differences between different capital regimes, the significance of solvency II’s matching adjustment and the robustness of each regime to both pandemic and economic stresses. Results also highlight the nature of diversification benefits from within each capital regime, on overall capital requirements.

scholarly journals Long-term stochastic risk models: the sixth generation of modern actuarial models?

2021 ◽  
Vol 26 ◽  
Author(s):  
Bill Curry
Keyword(s):  
Risk Management ◽  
Value At Risk ◽  
Risk Model ◽  
Simulation Models ◽  
Life Insurers ◽  
Sixth Generation ◽  
Actuarial Risk ◽  
The Uk ◽  
Stochastic Risk

Abstract This paper discusses the use of modelling techniques for the purpose of risk management within life insurers. The key theme of the paper is that life insurance is long-term business and carries with it long-term risks, yet much of modern actuarial risk management is focussed on short-term modelling approaches. These typically include the use of copula simulation models within a 1-year Value-at-Risk (VaR) framework. The paper discusses the limitations inherent within the techniques currently used in the UK and discusses how the focus of the next generation of actuarial models may be on long-term stochastic projections. The scope of the paper includes a discussion of how existing techniques, together with new approaches, may be used to develop such models and the benefits this can bring. The paper concludes with a practical example of how a long-term stochastic risk model may be implemented.

scholarly journals Assessing the Impact of Disruptive Events on Port Performance and Choice: The Case of Gothenburg

2021 ◽  
Vol 9 (2) ◽  
pp. 145
Author(s):  
Martin Svanberg ◽  
Henrik Holm ◽  
Kevin Cullinane
Keyword(s):  
Performance Metrics ◽  
Automatic Identification ◽  
Identification System ◽  
Container Port ◽  
Medium Term ◽  
Short Term ◽  
Labour Dispute ◽  
Container Ports ◽  
The Impact ◽  
The Relationship

This paper assesses the impact of a major disruptive event at the port of Gothenburg, Scandinavia’s largest container port. Automatic Identification System (AIS) data is analyzed, in combination with official port statistics on container handling in the four main container ports in Sweden, from 2014–2018. Particular attention is paid to the relationship between container volumes handled and calculated performance metrics at the specific times of the intense labour dispute at the port of Gothenburg during the periods Q2 (2016) and Q4 (2016)–Q2 (2017). The paper concludes that the decline in container volumes handled at Gothenburg over the period is specifically due to fewer ships calling at the port following each of the intense periods of the labour dispute. It is also concluded that the effect on competitor ports in the region were significant in terms of both increased volumes of gateway container traffic and the resulting short-term and medium term impacts on both port user profiles and port efficiency levels.

scholarly journals Nigeria

2020 ◽  
Vol 20 (142) ◽  
Author(s):  
Keyword(s):  
Exchange Rate ◽  
Health Spending ◽  
Flexible Exchange Rate ◽  
Balance Of Payments ◽  
Fiscal Consolidation ◽  
Medium Term ◽  
Short Term ◽  
Financing Gap ◽  
Fiscal Space ◽  
The Impact

This paper presents Nigeria’s Request for Purchase Under the Rapid Financing Instrument (RFI). The authorities’ immediate actions to respond to the crisis are welcome. The short-term focus on fiscal accommodation would allow for higher health spending and help alleviate the impact of the crisis on households and businesses. Steps taken toward a more unified and flexible exchange rate are also important and unification of the exchange rate should be expedited. Once the coronavirus disease 2019 crisis passes, the focus should remain on medium-term macroeconomic stability, with revenue-based fiscal consolidation essential to keep Nigeria’s debt sustainable and create fiscal space for priority spending. Implementation of the reform priorities under the Economic Recovery and Growth Plan, particularly on power and governance, remains crucial to boost growth over the medium term. The emergency financing under the RFI will provide much needed liquidity support to respond to the urgent balance of payments needs. Additional assistance from development partners will be required to support the government’s efforts and close the large financing gap.

scholarly journals Impact Of Union Budget On Indian Stock Market

2015 ◽  
Vol 2 (11) ◽  
pp. 21 ◽  
Author(s):  
Divya Verma Gakhar ◽  
Neha Kushwaha ◽  
Vinita Ashok
Keyword(s):  
Stock Market ◽  
T Test ◽  
Medium Term ◽  
Short Term ◽  
Statistical Tools ◽  
F Test ◽  
Indian Stock Market ◽  
The Impact ◽  
Paired T Test

This paper analyzes the impact of Union budget on NSE’s CNX NIFTY Index. The impact is measured in terms of daily average returns and volatility over the short term, medium term and long term period in pre and post budget period. The data has been collected for five budget periods from 2011 to 2015. The statistical tools used are paired T-test and F-test. Paired T-test is conducted on average returns and F-test is conducted on variances over the period i.e., 3, 10 and 30 days in pre and post budget period. The maximum impact of budget is seen in short term then it gradually decreases in medium term and finally diminishes in the long term. The implication of this paper is that the investor should fear from investing in the stock market around the budget period.

PRACTICAL ASPECTS OF APPLICATION OF METEOROLOGICAL WEATHER PREDICTION MODELS FOR THE NEED OF AGRICULTURAL SECTOR OF ECONOMY

2017 ◽  
Author(s):  
Mykhailo Frolov ◽  
Keyword(s):  
Negative Impact ◽  
Weather Prediction ◽  
Mesoscale Modeling ◽  
Extreme Weather Events ◽  
Weather Research And Forecasting ◽  
Forecasting Model ◽  
Medium Term ◽  
Short Term ◽  
The Impact ◽  
Weather Research

Different aspects of the application of short-term and long-term meteorological forecasting in the work of agricultural companies of different scales were investigated in this paper. Systematic assessment and consideration of weather factors in the work of agricultural companies of various scales is very important on the way to effective management and increase profits, especially in today's climate change. The use of existing global meteorological models does not always allow to obtain a detailed and qualitative forecast for individual areas, which is important for assessing the impact of weather on crops. The advantages of using the mesoscale Weather Research and Forecasting Model (WRF) for agricultural companies are considered. The results of short-term and medium- term WRF modeling can be used by agricultural campaigns to assess the potential negative impact of weather conditions on crops, as well as in preventive decisions to reduce the negative impact of extreme weather events on crops. The problem of the need for significant computing resources for mesoscale modeling can be solved by using commercial Cloud platforms, which are more cost-effective than purchasing high-performance computer systems (HPC). The scheme of application of short-term and medium-term weather forecasting in agricultural companies by realization of mesoscale modeling with Weather Research and Forecasting Model (WRF) and with application of cloud technologies was developed. The result of the proposed scheme are graphic products of meteorological quantities and weather maps of the modeling area (where crops are located), which is a ready product for analysis by agricultural companies for further agricultural and technical decision making process.

scholarly journals Impact of CAP’s pillars on Romanian rural employment

2009 ◽  
Vol 3 (5-6) ◽  
pp. 75-80 ◽  
Author(s):  
Maria Vincze ◽  
Kinga Kerekes
Keyword(s):  
Rural Areas ◽  
Labour Force ◽  
Agricultural Activities ◽  
Medium Term ◽  
Short Term ◽  
Rural Employment ◽  
The Poor ◽  
Term Evolution ◽  
The Impact

This paper aims to clarify the direction of change in rural employment on short- and medium term in Romania, while CAP regulations are being introduced and the global economic crisis emerges. First we put into evidence the decrease of the role of agriculture as buffer for unemployment and the poor contribution of non-agricultural activities to provide employment for rural residents.Then we analyse the main characteristics of the rural labour force. Finally we synthesize the opinions expressed by 33 consultants (working at the Offices for Agricultural Consultancy from different counties in Transylvania) about the estimated short term evolution of rural employment and the impact of CAP on Romanian rural areas.

Maternal antibiotic prophylaxis affects Bifidobacterium spp. counts in the human milk, during the first week after delivery

2019 ◽  
Vol 10 (2) ◽  
pp. 155-163 ◽  
Author(s):  
M. Padilha ◽  
J.M. Iaucci ◽  
V.P. Cabral ◽  
E.M.A. Diniz ◽  
C.R. Taddei ◽  
...  
Keyword(s):  
Human Milk ◽  
Antibiotic Prophylaxis ◽  
University Hospital ◽  
Medium Term ◽  
Short Term ◽  
Milk Samples ◽  
Total Dna ◽  
The University ◽  
The Impact ◽  
Total Bacteria

Human milk is an important source of microorganisms for infant gut colonisation. Although the maternal antibiotic prophylaxis is an important strategy to prevent maternal/neonatal sepsis, it has to be investigated how it may affect the human milk microbiota, especially the genus Bifidobacterium, which has been associated to health benefits. Here, we investigated the impact of the maternal antibiotic prophylaxis on the human milk Bifidobacterium spp. and total bacteria counts, in the first week (short-term) and first month (medium-term) after delivery. Human milk samples were collected from 55 healthy lactating women recruited from the University Hospital of the University of São Paulo at days 7±3 and 30±4 after vaginal delivery. Twenty one volunteers had received maternal antibiotic prophylaxis (MAP group) and 34 had not received MAP (no-MAP group) during or after labour. Total DNA was isolated from milk samples, and the bacterial counts were estimated by quantitative PCR (qPCR). We found lower levels of Bifidobacterium in the MAP group in the first week after delivery (median = 2.1 vs 2.4 log of equivalent cells/ml of human milk, for MAP and no-MAP groups, respectively; P=0.01), although there were no statistical differences in total bacteria count. However, no differences were found in Bifidobacterium counts between the groups at day 30±4 (median = 2.5 vs 2.2 log of equivalent cells/ml of human milk, for MAP and no-MAP groups, respectively; P=0.50). Our results suggest that MAP has a significant impact on Bifidobacterium counts in human milk, reducing this population in the first week after delivery. However, throughout the first month after delivery, the Bifidobacterium counts tend to recover, reaching similar counts to those found in no-MAP group at day 30±4 after delivery.

One-to-One Technology and Student Outcomes: Evidence From Mooresville’s Digital Conversion Initiative

2018 ◽  
Vol 41 (1) ◽  
pp. 79-97 ◽  
Author(s):  
Marie Hull ◽  
Katherine Duch
Keyword(s):  
Student Outcomes ◽  
Student Behavior ◽  
Wireless Internet ◽  
Medium Term ◽  
Short Term ◽  
Digital Conversion ◽  
Laptop Program ◽  
Math Scores ◽  
One To One ◽  
The Impact

This article uses a difference-in-differences strategy to evaluate the impact of a one-to-one laptop program. Teaching practices changed with the introduction of the program, and the district worked to make wireless Internet more accessible in the community. We find that while short-term impacts of the program were statistically insignificant, math scores improved by 0.13 standard deviations in the medium term. Time spent on homework stayed constant, but students spent more of their homework time using a computer. We also investigate the impact of the program on other measures of student behavior as well as heterogeneity in impacts. A limitation of this study is that we cannot distinguish which aspects of the program were most important in improving student outcomes.

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