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題名 Empirical Evidence on the Use of Dynamic Solvency Testing and Financial Condition Reporting in the United Kingdome Life Insurance Industry
作者 許永明
Shiu, Yung-Ming;Moles, Peter;Adams, Andrew;Chan, Chia-Chung
貢獻者 風管系
日期 2006-09
上傳時間 22-Jan-2015 16:13:00 (UTC+8)
摘要 To gain insight into the use of Dynamic Solvency Testing (DST) and Financial Condition Reporting (FCR), a questionnaire was distributed to Appointed Actuaries in United Kingdom life offices. The response rate of the main survey was 76%. An independent-samples t-test for non-respondent bias was conducted and the results suggest that the respondent sample is representative of the survey population. Results from the 62 firms responding revealed: (1) Scenario testing was the most commonly used DST techniques. (2) Most life offices regularly run less than ten scenarios in scenario testing. (3) Most life offices reported using a five-year forecast period in DST. (4) The two most commonly seen difficulties are: difficulties in communicating complex issues to non-specialists, and how to present extremely adverse scenarios without causing undue concern. (5) Nearly all life offices use FCR. (6) Guidance Note 2 is generally considered acceptable. (7) Compared with the results reported by previous studies, the use of DST techniques is now more common in life offices. (8) There is a significant difference in DST/FCR practices between with-profits and non-profit offices.
關聯 Annals of Actuarial Science,1(2),359-392.
資料類型 article
DOI http://dx.doi.org/10.1017/S1748499500000208
dc.contributor 風管系
dc.creator (作者) 許永明zh_TW
dc.creator (作者) Shiu, Yung-Ming;Moles, Peter;Adams, Andrew;Chan, Chia-Chung
dc.date (日期) 2006-09
dc.date.accessioned 22-Jan-2015 16:13:00 (UTC+8)-
dc.date.available 22-Jan-2015 16:13:00 (UTC+8)-
dc.date.issued (上傳時間) 22-Jan-2015 16:13:00 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/73111-
dc.description.abstract (摘要) To gain insight into the use of Dynamic Solvency Testing (DST) and Financial Condition Reporting (FCR), a questionnaire was distributed to Appointed Actuaries in United Kingdom life offices. The response rate of the main survey was 76%. An independent-samples t-test for non-respondent bias was conducted and the results suggest that the respondent sample is representative of the survey population. Results from the 62 firms responding revealed: (1) Scenario testing was the most commonly used DST techniques. (2) Most life offices regularly run less than ten scenarios in scenario testing. (3) Most life offices reported using a five-year forecast period in DST. (4) The two most commonly seen difficulties are: difficulties in communicating complex issues to non-specialists, and how to present extremely adverse scenarios without causing undue concern. (5) Nearly all life offices use FCR. (6) Guidance Note 2 is generally considered acceptable. (7) Compared with the results reported by previous studies, the use of DST techniques is now more common in life offices. (8) There is a significant difference in DST/FCR practices between with-profits and non-profit offices.
dc.format.extent 185 bytes-
dc.format.mimetype text/html-
dc.relation (關聯) Annals of Actuarial Science,1(2),359-392.
dc.title (題名) Empirical Evidence on the Use of Dynamic Solvency Testing and Financial Condition Reporting in the United Kingdome Life Insurance Industry
dc.type (資料類型) articleen
dc.identifier.doi (DOI) 10.1017/S1748499500000208en_US
dc.doi.uri (DOI) http://dx.doi.org/10.1017/S1748499500000208 en_US