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- How to deal with volatility under Solvency II
Volume 2019 : 1
Insurtech, wat brengt de toekomst ons binnen de verzekeringssector?
Digitalisering: Wat is de impact op verzekeringsproducten en distributienetten?
Forget about Peer to Peer, the Future of Insurance is Invisible and Parametric
Insurtech: des bisounours dans la pépinière ou Alien chez les assureurs?
The Vision of the National Bank of Belgium on Sustainable Finance
Report of the colloquium
Report of the panel debate
Introductory speech
The risk-free rate term structure in Solvency II
Volatility Adjustment: Regulatory and Supervisory aspectst ,
How to deal with volatility under Solvency II
Discounting under Solvency II – Reflections from a company perspective
Solvency II long-term guarantee measures
A framework for evaluating the future performance of actively managed mutual funds with the European Economic and Monetary Union (EMU) universe as a testcase
Insurtech, wat brengt de toekomst ons binnen de verzekeringssector?
Digitalisering: Wat is de impact op verzekeringsproducten en distributienetten?
Forget about Peer to Peer, the Future of Insurance is Invisible and Parametric
Insurtech: des bisounours dans la pépinière ou Alien chez les assureurs?
The Vision of the National Bank of Belgium on Sustainable Finance
Report of the colloquium
Report of the panel debate
Introductory speech
The risk-free rate term structure in Solvency II
Volatility Adjustment: Regulatory and Supervisory aspectst ,
How to deal with volatility under Solvency II
Discounting under Solvency II – Reflections from a company perspective
Solvency II long-term guarantee measures
A framework for evaluating the future performance of actively managed mutual funds with the European Economic and Monetary Union (EMU) universe as a testcase
Jaar
2019
Volume
2019
Nummer
1
Pagina
67
Taal
Engels
Rechtscollege
Referentie
D. DE LEVAL, “How to deal with volatility under Solvency II”, BFW 2019, nr. 1, 67-79
Samenvatting
Solvency II is the prudential regime applicable to all EU insurance companies since January 2016. The Solvency II ratio compares the own funds available with the risks an insurer is exposed to, also called the Solvency Capital Requirement (or SCR, which is calibrated at the value-at-risk 99.5% over a one-year horizon). It ensures that an undertaking with a ratio higher than 100% does not default over the coming year with a probability of more than 0.5%. The valuation underlying the own funds and the stressed scenarios underlying the SCR calculations are based on market consistency. The advantage is the clear link to up to date economic and financial assumptions applied in a consistent way to all insurers, which gives supervisors early warnings on insurers in distressed situations. The disadvantage is the resulting excessive volatility, especially for long-term insurance business, that could hamper financial stability and long-term products offering. The purpose of this article is to contribute to the reflexions to the long-term guarantee review and equity risk measures from EIOPA by 2021 to find an appropriate balance between policyholder protection and proper functioning of the financial and insurance markets.
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