Hostname: page-component-cd9895bd7-hc48f Total loading time: 0 Render date: 2024-12-27T20:04:38.687Z Has data issue: false hasContentIssue false
  • English
  • Français

Draft of a System for Solvency Control in Non-Life Insurance*

Published online by Cambridge University Press:  29 August 2014

Ragnar Norberg  and
Bjørn Sundt
Ragnar Norberg
Affiliation:
Institute of Mathematics, University of Oslo
Bjørn Sundt
Affiliation:
Institute of Mathematics, University of Oslo
Rights & Permissions [Opens in a new window]

Abstract

Core share and HTML view are not available for this content. However, as you have access to this content, a full PDF is available via the ‘Save PDF’ action button.

An outline is given of a proposed system for solvency control in non-life insurance that has recently been discussed within a Working Party appointed by the Norwegian supervisory authorities. According to this system the factual technical reserves must at any time be sufficient to meet, with high probability, all future liabilities stipulated by insurance contracts that have either expired or are currently in force. The system is applied to a provisional, simple model that has been fitted to claims data assembled from Norwegian non-life companies. The numerical examples illustrate, inter alia, how the required reserve depends on the volume of the business, the portfolio mix, and the reinsurance cover.

Type
Workshop
Information
ASTIN Bulletin: The Journal of the IAA , Volume 15 , Issue 2 , November 1985 , pp. 149 - 169
Copyright
Copyright © International Actuarial Association 1985

Footnotes

*

A preliminary version of the present paper was presented at the 17th ASTIN Colloquium, Lindau, October 1983. Parts of the present research were performed while the second author was staying at the Norwegian Insurance Supervisory Service, the University of Mannheim, and the University of Copenhagen.

References

Beard, R. E., Pentikäinen, T. and Pesonen, E. (1984) Risk Theory, 3rd ed. Chapman & Hall Ltd., London.CrossRefGoogle Scholar
Harlem, G.et al. (1983) Forsikring i Norge. NOU 1983:52. Universitetsforlaget, Oslo.Google Scholar
Johnsen, T.et al. (1984) Solvenskontroll av skadeforsikringsselskaper. Norwegian Insurance Supervisory Service, Oslo.Google Scholar
Rantala, J. (1982) Solvency of Insurers and Equalization Reserves, Vol. II. Insurance Publishing Company, Helsinki.Google Scholar
Sundt, B. (1983) Parameter estimation in some credibility models. Scandinavian Actuarial Journal 239–255.CrossRefGoogle Scholar