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Hato Schmeiser - One of the best experts on this subject based on the ideXlab platform.

  • Asset-liability management for long-term Insurance Business
    European Actuarial Journal, 2018
    Co-Authors: Hansjörg Albrecher, Daniel Bauer, Paul Embrechts, Damir Filipović, Pablo Koch-medina, Ralf Korn, Stéphane Loisel, Antoon Pelsser, Frank Schiller, Hato Schmeiser
    Abstract:

    This is a summary of the main topics and findings from the Swiss Risk and Insurance Forum 2017. That event gathered experts from academia, Insurance industry, regulatory bodies, and consulting companies to discuss past and current developments as well as future perspectives in dealing with asset-liability management for long-term Insurance Business. Topics include valuation, innovations in Insurance products, investment, and modelling aspects.

  • Asset-liability management for long-term Insurance Business
    2018
    Co-Authors: Hansjörg Albrecher, Daniel Bauer, Paul Embrechts, Damir Filipović, Pablo Koch-medina, Ralf Korn, Stéphane Loisel, Antoon Pelsser, Frank Schiller, Hato Schmeiser
    Abstract:

    This is a summary of the main topics and findings from the Swiss Risk and Insurance Forum 2017. That event gathered experts from academia, Insurance industry, regulatory bodies, and consulting companies to discuss past and current developments as well as future perspectives in dealing with asset-liability management for long-term Insurance Business. Topics include valuation, innovations in Insurance products, investment, and modelling aspects. (This abstract was borrowed from another version of this item.)

Thomas Url - One of the best experts on this subject based on the ideXlab platform.

  • Weak Growth Weighs on Private Insurance Business in 2013
    2014
    Co-Authors: Thomas Url
    Abstract:

    The Insurance penetration remained at its low level (5.3 percent) throughout 2013, the consequence of a decline in revenues from life Insurance premium payments and below-average growth in the non-life and accident Insurance Business. With the first contracts falling due and new Business moving at a sluggish rate, revenues from payments into state-aided old age Insurance continued to fall. Persistently low yields from investment effectively prevented the surplus from investment income to grow inspite of an increase in capital investments. Implementation of the EU's "Solvency-II" Directive was postponed to January 2016, although Austria will put into operation some of the measures covered by the second and third pillars of Solvency II already in 2014.

  • Weak Growth Impacts on Private Insurance Business in 2013
    2014
    Co-Authors: Thomas Url
    Abstract:

    The Insurance penetration remained at its low level (5.3 percent) throughout 2013, the consequence of a decline in revenues from life Insurance premium payments and below-average growth in the casualty and accident Insurance Business. With the first contracts falling due and new Business moving at a sluggish rate, revenues from payments into state-aided pension provision schemes continued to fall. Persistently low yields from investment effectively prevented the surplus from investment income to grow inspite of an increase in capital investments. Implementation of the EU's "Solvency II" directive was postponed to January 2016, although Austria will put into operation some of the measures covered by the second and third pillars of Solvency II already in 2014.

  • Low Financial Returns Undermine the Life Insurance Business. Trends in the Austrian Private Insurance Industry in 2011
    2012
    Co-Authors: Thomas Url
    Abstract:

    With a modest increase of premium revenues by 1.1 percent in 2011, growth of Austria's private Insurance companies remained below that of nominal GDP (+5 percent). Performance within the sector was uneven: while premium revenues in property-liability and accident Insurance rose by a hefty 7.2 percent, they fell by a surprisingly strong 7.3 percent in the life Insurance branch. Private health Insurance showed the customary smooth development (+3.6 percent), such that the composition of premium revenues among the three major Insurance branches shifted further towards the non-life Insurance Business. Austria thereby followed the general trend in Europe of receding demand for life Insurance and slowly-expanding non-life Insurance Business. Accordingly, Insurance intensity declined to a ratio of 5.5 percent of GDP in 2011, the lowest reading in more than a decade. Current projections assume this trend to continue in 2012.

Jiřina Bokšová - One of the best experts on this subject based on the ideXlab platform.

Hansjörg Albrecher - One of the best experts on this subject based on the ideXlab platform.

  • Asset-liability management for long-term Insurance Business
    European Actuarial Journal, 2018
    Co-Authors: Hansjörg Albrecher, Daniel Bauer, Paul Embrechts, Damir Filipović, Pablo Koch-medina, Ralf Korn, Stéphane Loisel, Antoon Pelsser, Frank Schiller, Hato Schmeiser
    Abstract:

    This is a summary of the main topics and findings from the Swiss Risk and Insurance Forum 2017. That event gathered experts from academia, Insurance industry, regulatory bodies, and consulting companies to discuss past and current developments as well as future perspectives in dealing with asset-liability management for long-term Insurance Business. Topics include valuation, innovations in Insurance products, investment, and modelling aspects.

  • Asset-liability management for long-term Insurance Business
    2018
    Co-Authors: Hansjörg Albrecher, Daniel Bauer, Paul Embrechts, Damir Filipović, Pablo Koch-medina, Ralf Korn, Stéphane Loisel, Antoon Pelsser, Frank Schiller, Hato Schmeiser
    Abstract:

    This is a summary of the main topics and findings from the Swiss Risk and Insurance Forum 2017. That event gathered experts from academia, Insurance industry, regulatory bodies, and consulting companies to discuss past and current developments as well as future perspectives in dealing with asset-liability management for long-term Insurance Business. Topics include valuation, innovations in Insurance products, investment, and modelling aspects. (This abstract was borrowed from another version of this item.)

Tarek M. Harchaoui - One of the best experts on this subject based on the ideXlab platform.

  • Dealing with the Insurance Business in the Economic Accounts
    Handbook of Insurance, 2000
    Co-Authors: Tarek M. Harchaoui
    Abstract:

    This chapter synthetizes and extends the treatment of the Insurance Business in the system of national accounts, with a focus on the measurement of the production activity. The framework begins with an overall discussion, at the macroeconomic level, on the past and current approaches on the measure of the Insurance Business production activity in the system of national accounts. But this macroeconomic approach of the Insurance Business turns out to be limited in many important respects. In extending the framework, I adopt a more disaggregated approach, making a strong case on the need to understand the behaviour and to measure the activities of the Insurance Business at the level of the line of Business. This approach, overlooked by the existing economic literature, provides many insights in terms of the delineation of insurers’ lines of Business, the measurement of their activities and their interaction within an integrated input-output framework. As a by product, the chapter also discusses issues related to the regional breakdown of insurers’ activities and the unduplicated measure of the Insurance firm’s output.

  • The Economic Performance of the Canadian Insurance Business Scale, Scope and Productivity Measurement *
    1997
    Co-Authors: Tarek M. Harchaoui
    Abstract:

    Network effects have been shown in theory to have implications for a variety of activities. Although previous attempts have introduced the network effect mainly in banking activities, its application to the Insurance Business where each firm has access to a wide network of agents and brokers seems to be a natural extension. This paper formulates a short-run production framework that accounts for network externalities. The application of this framework to the modelling of total factor productivity allows for the distinction between i) scale economies, ii) temporary equilibrium, iii) market structures, and iv) technological change. Based on an incomplete panel data set at the firm level for the period 1985-1995, the results suggest that, with a 2.6 percent average annual growth rate of total factor productivity for life Insurance companies and .8 percent for non-life Insurance companies, the Insurance Business outperformed both goods-producing industries and non-financial services industries. Scale economies represent the major component of these TFP growth rates, followed by technological change, market structures and the temporary equilibrium effect. In general, although total factor productivity growth tends to decline with the size of firms, large firms still display productivity gains.