On the Measurement of Solvency of Insurance Companies: Recent Developments that will Alter Methods Adopted in Emerging Markets
Solvency-both as an economic requirement in the market and as a regulatory and supervisory tool-is critical to all insurance markets. Current market conditions, coupled with expected institutional changes, will place particular burdens on emerging and developing markets. Institutional solvency, effective risk management within companies, effective supervisory oversight, and the development of market disciplines are all linked. The author proposes that the effective implementation of the emerging regime needs a careful and diligent phased process of capacity-building. The first priorities are identified as a strong supervisor, a basic solvency margin requirement, and the initiation of efforts to gather appropriate data sets. This can be followed by advancing development of more sophisticated solvency regulation, increased use of technical expertise, and increased use of market disciplines as the community and financial markets become more able to exercise such discipline.
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dig-okr-10986142092024-08-08T17:38:44Z On the Measurement of Solvency of Insurance Companies: Recent Developments that will Alter Methods Adopted in Emerging Markets Thorburn, Craig SOLVENCY REQUIREMENTS SOLVENCY SUPERVISION SOLVENCY CRITERIA INSURANCE MARKETS EMERGING MARKETS INSTITUTIONAL CHANGE RISK MANAGEMENT SUPERVISORY REGIME OVERSIGHT MARKET DISCIPLINE CAPACITY BUILDING DATA GATHERING REGULATORY ENVIRONMENT TECHNICAL EXPERTISE FINANCIAL MARKETS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING STANDARDS ANNUITY BALANCE SHEET BALANCE SHEETS BANKING SUPERVISION BOND MARKETS BONDS BOOK VALUE CAPITAL REQUIREMENTS CASUALTY INSURANCE CATASTROPHES CONSOLIDATION CONTINGENT LIABILITIES COVERAGE DEFAULT RISK DERIVATIVES DISCLOSURE EARNED PREMIUM EMERGING MARKETS EQUALIZATION EQUITY INVESTMENTS EQUITY RETURNS EUROPEAN CENTRAL BANK FINANCIAL CONGLOMERATES FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL STABILITY GENERAL INSURANCE INCOME INCREASED INSURANCE COVERAGE INDEMNITY INSURANCE INSURANCE BROKER INSURANCE COMPANIES INSURANCE CONTRACTS INSURANCE MARKETS INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE RISK INSURANCE SUPERVISION INSURANCE SUPERVISORS INTANGIBLE ASSETS INTEREST MARGIN INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL HARMONIZATION INTERNATIONAL STANDARDS LAWS LIABILITY MANAGEMENT LIBERALIZATION LIFE INSURERS LOSS RATIO NON-LIFE INSURANCE POLICY RESEARCH POLICYHOLDERS PREMIUMS PRIVATIZATION PROFITABILITY REINSURANCE REINSURANCE COMPANIES REINSURANCE MARKETS REINSURERS RISK MANAGEMENT RISK MANAGEMENT PROCESS RISK MEASUREMENT RISK TRANSFER SECURITIES SOLVENCY SUBSIDIARIES SUPERVISORY AUTHORITIES SVERIGES RIKSBANK TRANSITION ECONOMIES UNDERWRITING VALUATION WORKERS COMPENSATION Solvency-both as an economic requirement in the market and as a regulatory and supervisory tool-is critical to all insurance markets. Current market conditions, coupled with expected institutional changes, will place particular burdens on emerging and developing markets. Institutional solvency, effective risk management within companies, effective supervisory oversight, and the development of market disciplines are all linked. The author proposes that the effective implementation of the emerging regime needs a careful and diligent phased process of capacity-building. The first priorities are identified as a strong supervisor, a basic solvency margin requirement, and the initiation of efforts to gather appropriate data sets. This can be followed by advancing development of more sophisticated solvency regulation, increased use of technical expertise, and increased use of market disciplines as the community and financial markets become more able to exercise such discipline. 2013-06-26T17:20:03Z 2013-06-26T17:20:03Z 2004-02 http://documents.worldbank.org/curated/en/2004/02/2953735/measurement-solvency-insurance-companies-recent-developments-alter-methods-adopted-emerging-markets https://hdl.handle.net/10986/14209 English en_US Policy Research Working Paper;No.3199 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank application/pdf text/plain World Bank, Washington, D.C. |
| institution |
Banco Mundial |
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DSpace |
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Estados Unidos |
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US |
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Bibliográfico |
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En linea |
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dig-okr |
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biblioteca |
| region |
America del Norte |
| libraryname |
Biblioteca del Banco Mundial |
| language |
English en_US |
| topic |
SOLVENCY REQUIREMENTS SOLVENCY SUPERVISION SOLVENCY CRITERIA INSURANCE MARKETS EMERGING MARKETS INSTITUTIONAL CHANGE RISK MANAGEMENT SUPERVISORY REGIME OVERSIGHT MARKET DISCIPLINE CAPACITY BUILDING DATA GATHERING REGULATORY ENVIRONMENT TECHNICAL EXPERTISE FINANCIAL MARKETS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING STANDARDS ANNUITY BALANCE SHEET BALANCE SHEETS BANKING SUPERVISION BOND MARKETS BONDS BOOK VALUE CAPITAL REQUIREMENTS CASUALTY INSURANCE CATASTROPHES CONSOLIDATION CONTINGENT LIABILITIES COVERAGE DEFAULT RISK DERIVATIVES DISCLOSURE EARNED PREMIUM EMERGING MARKETS EQUALIZATION EQUITY INVESTMENTS EQUITY RETURNS EUROPEAN CENTRAL BANK FINANCIAL CONGLOMERATES FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL STABILITY GENERAL INSURANCE INCOME INCREASED INSURANCE COVERAGE INDEMNITY INSURANCE INSURANCE BROKER INSURANCE COMPANIES INSURANCE CONTRACTS INSURANCE MARKETS INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE RISK INSURANCE SUPERVISION INSURANCE SUPERVISORS INTANGIBLE ASSETS INTEREST MARGIN INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL HARMONIZATION INTERNATIONAL STANDARDS LAWS LIABILITY MANAGEMENT LIBERALIZATION LIFE INSURERS LOSS RATIO NON-LIFE INSURANCE POLICY RESEARCH POLICYHOLDERS PREMIUMS PRIVATIZATION PROFITABILITY REINSURANCE REINSURANCE COMPANIES REINSURANCE MARKETS REINSURERS RISK MANAGEMENT RISK MANAGEMENT PROCESS RISK MEASUREMENT RISK TRANSFER SECURITIES SOLVENCY SUBSIDIARIES SUPERVISORY AUTHORITIES SVERIGES RIKSBANK TRANSITION ECONOMIES UNDERWRITING VALUATION WORKERS COMPENSATION SOLVENCY REQUIREMENTS SOLVENCY SUPERVISION SOLVENCY CRITERIA INSURANCE MARKETS EMERGING MARKETS INSTITUTIONAL CHANGE RISK MANAGEMENT SUPERVISORY REGIME OVERSIGHT MARKET DISCIPLINE CAPACITY BUILDING DATA GATHERING REGULATORY ENVIRONMENT TECHNICAL EXPERTISE FINANCIAL MARKETS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING STANDARDS ANNUITY BALANCE SHEET BALANCE SHEETS BANKING SUPERVISION BOND MARKETS BONDS BOOK VALUE CAPITAL REQUIREMENTS CASUALTY INSURANCE CATASTROPHES CONSOLIDATION CONTINGENT LIABILITIES COVERAGE DEFAULT RISK DERIVATIVES DISCLOSURE EARNED PREMIUM EMERGING MARKETS EQUALIZATION EQUITY INVESTMENTS EQUITY RETURNS EUROPEAN CENTRAL BANK FINANCIAL CONGLOMERATES FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL STABILITY GENERAL INSURANCE INCOME INCREASED INSURANCE COVERAGE INDEMNITY INSURANCE INSURANCE BROKER INSURANCE COMPANIES INSURANCE CONTRACTS INSURANCE MARKETS INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE RISK INSURANCE SUPERVISION INSURANCE SUPERVISORS INTANGIBLE ASSETS INTEREST MARGIN INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL HARMONIZATION INTERNATIONAL STANDARDS LAWS LIABILITY MANAGEMENT LIBERALIZATION LIFE INSURERS LOSS RATIO NON-LIFE INSURANCE POLICY RESEARCH POLICYHOLDERS PREMIUMS PRIVATIZATION PROFITABILITY REINSURANCE REINSURANCE COMPANIES REINSURANCE MARKETS REINSURERS RISK MANAGEMENT RISK MANAGEMENT PROCESS RISK MEASUREMENT RISK TRANSFER SECURITIES SOLVENCY SUBSIDIARIES SUPERVISORY AUTHORITIES SVERIGES RIKSBANK TRANSITION ECONOMIES UNDERWRITING VALUATION WORKERS COMPENSATION |
| spellingShingle |
SOLVENCY REQUIREMENTS SOLVENCY SUPERVISION SOLVENCY CRITERIA INSURANCE MARKETS EMERGING MARKETS INSTITUTIONAL CHANGE RISK MANAGEMENT SUPERVISORY REGIME OVERSIGHT MARKET DISCIPLINE CAPACITY BUILDING DATA GATHERING REGULATORY ENVIRONMENT TECHNICAL EXPERTISE FINANCIAL MARKETS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING STANDARDS ANNUITY BALANCE SHEET BALANCE SHEETS BANKING SUPERVISION BOND MARKETS BONDS BOOK VALUE CAPITAL REQUIREMENTS CASUALTY INSURANCE CATASTROPHES CONSOLIDATION CONTINGENT LIABILITIES COVERAGE DEFAULT RISK DERIVATIVES DISCLOSURE EARNED PREMIUM EMERGING MARKETS EQUALIZATION EQUITY INVESTMENTS EQUITY RETURNS EUROPEAN CENTRAL BANK FINANCIAL CONGLOMERATES FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL STABILITY GENERAL INSURANCE INCOME INCREASED INSURANCE COVERAGE INDEMNITY INSURANCE INSURANCE BROKER INSURANCE COMPANIES INSURANCE CONTRACTS INSURANCE MARKETS INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE RISK INSURANCE SUPERVISION INSURANCE SUPERVISORS INTANGIBLE ASSETS INTEREST MARGIN INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL HARMONIZATION INTERNATIONAL STANDARDS LAWS LIABILITY MANAGEMENT LIBERALIZATION LIFE INSURERS LOSS RATIO NON-LIFE INSURANCE POLICY RESEARCH POLICYHOLDERS PREMIUMS PRIVATIZATION PROFITABILITY REINSURANCE REINSURANCE COMPANIES REINSURANCE MARKETS REINSURERS RISK MANAGEMENT RISK MANAGEMENT PROCESS RISK MEASUREMENT RISK TRANSFER SECURITIES SOLVENCY SUBSIDIARIES SUPERVISORY AUTHORITIES SVERIGES RIKSBANK TRANSITION ECONOMIES UNDERWRITING VALUATION WORKERS COMPENSATION SOLVENCY REQUIREMENTS SOLVENCY SUPERVISION SOLVENCY CRITERIA INSURANCE MARKETS EMERGING MARKETS INSTITUTIONAL CHANGE RISK MANAGEMENT SUPERVISORY REGIME OVERSIGHT MARKET DISCIPLINE CAPACITY BUILDING DATA GATHERING REGULATORY ENVIRONMENT TECHNICAL EXPERTISE FINANCIAL MARKETS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING STANDARDS ANNUITY BALANCE SHEET BALANCE SHEETS BANKING SUPERVISION BOND MARKETS BONDS BOOK VALUE CAPITAL REQUIREMENTS CASUALTY INSURANCE CATASTROPHES CONSOLIDATION CONTINGENT LIABILITIES COVERAGE DEFAULT RISK DERIVATIVES DISCLOSURE EARNED PREMIUM EMERGING MARKETS EQUALIZATION EQUITY INVESTMENTS EQUITY RETURNS EUROPEAN CENTRAL BANK FINANCIAL CONGLOMERATES FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL STABILITY GENERAL INSURANCE INCOME INCREASED INSURANCE COVERAGE INDEMNITY INSURANCE INSURANCE BROKER INSURANCE COMPANIES INSURANCE CONTRACTS INSURANCE MARKETS INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE RISK INSURANCE SUPERVISION INSURANCE SUPERVISORS INTANGIBLE ASSETS INTEREST MARGIN INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL HARMONIZATION INTERNATIONAL STANDARDS LAWS LIABILITY MANAGEMENT LIBERALIZATION LIFE INSURERS LOSS RATIO NON-LIFE INSURANCE POLICY RESEARCH POLICYHOLDERS PREMIUMS PRIVATIZATION PROFITABILITY REINSURANCE REINSURANCE COMPANIES REINSURANCE MARKETS REINSURERS RISK MANAGEMENT RISK MANAGEMENT PROCESS RISK MEASUREMENT RISK TRANSFER SECURITIES SOLVENCY SUBSIDIARIES SUPERVISORY AUTHORITIES SVERIGES RIKSBANK TRANSITION ECONOMIES UNDERWRITING VALUATION WORKERS COMPENSATION Thorburn, Craig On the Measurement of Solvency of Insurance Companies: Recent Developments that will Alter Methods Adopted in Emerging Markets |
| description |
Solvency-both as an economic requirement
in the market and as a regulatory and supervisory tool-is
critical to all insurance markets. Current market
conditions, coupled with expected institutional changes,
will place particular burdens on emerging and developing
markets. Institutional solvency, effective risk management
within companies, effective supervisory oversight, and the
development of market disciplines are all linked. The author
proposes that the effective implementation of the emerging
regime needs a careful and diligent phased process of
capacity-building. The first priorities are identified as a
strong supervisor, a basic solvency margin requirement, and
the initiation of efforts to gather appropriate data sets.
This can be followed by advancing development of more
sophisticated solvency regulation, increased use of
technical expertise, and increased use of market disciplines
as the community and financial markets become more able to
exercise such discipline. |
| topic_facet |
SOLVENCY REQUIREMENTS SOLVENCY SUPERVISION SOLVENCY CRITERIA INSURANCE MARKETS EMERGING MARKETS INSTITUTIONAL CHANGE RISK MANAGEMENT SUPERVISORY REGIME OVERSIGHT MARKET DISCIPLINE CAPACITY BUILDING DATA GATHERING REGULATORY ENVIRONMENT TECHNICAL EXPERTISE FINANCIAL MARKETS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING STANDARDS ANNUITY BALANCE SHEET BALANCE SHEETS BANKING SUPERVISION BOND MARKETS BONDS BOOK VALUE CAPITAL REQUIREMENTS CASUALTY INSURANCE CATASTROPHES CONSOLIDATION CONTINGENT LIABILITIES COVERAGE DEFAULT RISK DERIVATIVES DISCLOSURE EARNED PREMIUM EMERGING MARKETS EQUALIZATION EQUITY INVESTMENTS EQUITY RETURNS EUROPEAN CENTRAL BANK FINANCIAL CONGLOMERATES FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL STABILITY GENERAL INSURANCE INCOME INCREASED INSURANCE COVERAGE INDEMNITY INSURANCE INSURANCE BROKER INSURANCE COMPANIES INSURANCE CONTRACTS INSURANCE MARKETS INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE RISK INSURANCE SUPERVISION INSURANCE SUPERVISORS INTANGIBLE ASSETS INTEREST MARGIN INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL HARMONIZATION INTERNATIONAL STANDARDS LAWS LIABILITY MANAGEMENT LIBERALIZATION LIFE INSURERS LOSS RATIO NON-LIFE INSURANCE POLICY RESEARCH POLICYHOLDERS PREMIUMS PRIVATIZATION PROFITABILITY REINSURANCE REINSURANCE COMPANIES REINSURANCE MARKETS REINSURERS RISK MANAGEMENT RISK MANAGEMENT PROCESS RISK MEASUREMENT RISK TRANSFER SECURITIES SOLVENCY SUBSIDIARIES SUPERVISORY AUTHORITIES SVERIGES RIKSBANK TRANSITION ECONOMIES UNDERWRITING VALUATION WORKERS COMPENSATION |
| author |
Thorburn, Craig |
| author_facet |
Thorburn, Craig |
| author_sort |
Thorburn, Craig |
| title |
On the Measurement of Solvency of Insurance Companies: Recent Developments that will Alter Methods Adopted in Emerging Markets |
| title_short |
On the Measurement of Solvency of Insurance Companies: Recent Developments that will Alter Methods Adopted in Emerging Markets |
| title_full |
On the Measurement of Solvency of Insurance Companies: Recent Developments that will Alter Methods Adopted in Emerging Markets |
| title_fullStr |
On the Measurement of Solvency of Insurance Companies: Recent Developments that will Alter Methods Adopted in Emerging Markets |
| title_full_unstemmed |
On the Measurement of Solvency of Insurance Companies: Recent Developments that will Alter Methods Adopted in Emerging Markets |
| title_sort |
on the measurement of solvency of insurance companies: recent developments that will alter methods adopted in emerging markets |
| publisher |
World Bank, Washington, D.C. |
| publishDate |
2004-02 |
| url |
http://documents.worldbank.org/curated/en/2004/02/2953735/measurement-solvency-insurance-companies-recent-developments-alter-methods-adopted-emerging-markets https://hdl.handle.net/10986/14209 |
| work_keys_str_mv |
AT thorburncraig onthemeasurementofsolvencyofinsurancecompaniesrecentdevelopmentsthatwillaltermethodsadoptedinemergingmarkets |
| _version_ |
1807158079847923712 |