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Risk-Based Pre-Funding of Guaranty Funds in Life Insurance
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Snorre Lindset
Published/Copyright:
March 1, 2008
This paper analyzes how Value at Risk (VaR), a risk measure, can be used to calculate contributions to a life insurance guaranty fund. The paper shows that this measure can be a first step towards taking risk and solidity into account when determining how much each insurer should contribute to the guaranty fund. VaR focuses on the tail of the distribution and is therefore particularly well suited to take the shortfall risk of the guaranty fund into account.
Published Online: 2008-3-1
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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Articles in the same Issue
- Featured Article
- Joint Life Insurance Policies with Differential Benefits and Premiums to the Policyholders
- Population Growth Rate, Life Expectancy and Pension Program Improvement in China
- Modeling the Cumulative Cases from SARS
- Endowment Assurance Products: Effectiveness of Risk-Minimizing Strategies under Model Risk
- Risk-Based Pre-Funding of Guaranty Funds in Life Insurance
- Effort Allocation of Insurance Agent under Asymmetric Information: An Analytical Approach
- Country Study: Takaful Markets in Selected Asia Countries
- Book Review
- Book Review: Risk Management and Insurance: Perspectives in a Global Economy
