Φερεγγυότητα των ασφαλιστικών εταιρειών στον κλάδο ζωής
Πουλαντζάκλη, Ιωάννα Η.
The study below concerns the need of identifying and quantifying the exposure of insurance companies to their risk. Firstly, the study provides the meaning of solvency, ie the ability of insurance companies to respond to the obligations arising through risk taking. Furthermore, a historical review is given in order to recognize the organizations and the studies that had an important role in the introduction and the establishment of the institution of solvency. In this review, the importance of Basel is emphasized, as it is the basis to build the meaning of solvency of the insurance companies. Basel provides rules regarding the quantification of capital adequacy in order to help the supervision authorities of the banks. Respectively, these rules are used in order to determine the capital adequacy of the insurance companies, taking into consideration the risk of the insurance factor. The adoption of the three pillars of Basel is the most important step in identifying the risks faced by an insurance company and the need for qualitative and quantitative assessment. In addition, reaching the present, the regulatory framework regarding the supervision and the capital adequacy calculation is examined, in accordance with the instructions of Solvency II. The methods of calculating the minimum capital requirement and the required solvency capital are also analyzed. Particular reference is made to the article of Olivieri A. and Pitacco E. (2007], the Swiss Solvency Test (2006], and the article of Ballotta et al. (2006). In order to understand the methods used by the above articles, detailed numerical examples are provided for the methods of the Swiss Solvency Test and the article of Ballotta et al.