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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: | Sep-2006 | 上傳時間: | 22-Jan-2015 | 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 |
Appears in Collections: | 期刊論文 |
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