Reinsurance and Liquidity: Evidence from the United Kingdom General Insurance Industry

2015 ◽  
Vol 41 (2) ◽  
pp. 307-324 ◽  
Author(s):  
Hui-Hsuan Liu ◽  
Yung-Ming Shiu ◽  
Tsung-Chi Liu
Keyword(s):  
United Kingdom ◽  
Insurance Industry ◽  
The United Kingdom ◽  
General Insurance

Use of Dynamic Financial Analysis and Financial Condition Reporting by United Kingdom General Insurers

2006 ◽  
Vol 1 (1) ◽  
pp. 79-101 ◽  
Author(s):  
Y. Shiu ◽  
P. Moles
Keyword(s):  
United Kingdom ◽  
Financial Analysis ◽  
Insurance Industry ◽  
Financial Condition ◽  
Guidance Note ◽  
The United Kingdom ◽  
General Insurance ◽  
Survey Results ◽  
Dynamic Financial Analysis ◽  
Scenario Testing

ABSTRACTThis paper presents the findings of a survey of the current Dynamic Financial Analysis (DFA)/Financial Condition Report (FCR) practices in the United Kingdom general insurance industry. 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. The survey results revealed: (1) that the use of DFA techniques in the industry was limited; (2) that scenario testing was the most frequently used technique; (3) that the most common DFA application was the evaluation of reinsurance programmes; (4) that less than ten scenarios were run regularly; (5) that inflation was the most frequently modelled economic variable; (6) that the capability of asset modelling of general insurers was restricted; (7) that the most common method of liability modelling was to use all in force policies in aggregate; (8) that the most common projection periods in DFA and business planning were three years; (9) that the main reason for not using DFA techniques and producing FCR was lack of need; and (10) that views on whether a Guidance Note on FCR specifically for general insurers should be introduced differed.

History of Life Assurance in the United Kingdom (Continued)

1886 ◽  
Vol 26 (2) ◽  
pp. 120-132 ◽  
Author(s):  
Cornelius Walford
Keyword(s):  
United Kingdom ◽  
Insurance Company ◽  
Life Assurance ◽  
The United Kingdom ◽  
General Insurance ◽  
Bank Of England ◽  
History Of ◽  
Friendly Societies

Globe Insurance Company.—Early in the year 1799 a plan was laid before Mr. Pitt for forming a Chartered Insurance Office, for granting Insurance against Fire, and for Insurance of Lives; for buying and selling Annuities, and for receiving deposits from Friendly Societies, and the Industrial Classes: to be called the Globe or General Insurance Office. It was understood that the plan received that Minister's approval, and a Bill was introduced to Parliament embodying these objects. The measure encountered some opposition. In the first place, the Bank of England objected to the Deposit branch, and the clauses relating thereto were accordingly struck out. Then it was opposed by several of the Insurance Offices; but the Bill finally passed through both Houses, and received the Royal Assent.

Some financial aspects of a general insurance company

1981 ◽  
Vol 108 (2) ◽  
pp. 119-209 ◽  
Author(s):  
W. M. Abbott ◽  
T. G. Clarke ◽  
W. R. Treen
Keyword(s):  
Financial Management ◽  
Insurance Industry ◽  
Capital Requirements ◽  
Insurance Company ◽  
Research Committee ◽  
The United Kingdom ◽  
General Insurance ◽  
The Subject ◽  
Financial Concern ◽  
Blue Print

1.1 In recent years, the United Kingdom members of the actuarial profession have become increasingly involved in the general insurance industry and therefore the Institute decided that the subject of general insurance should be included in its syllabus from 1977.1.2 Prior to 1977 there were a number of papers and articles, written for either the General Insurance Study Group or the Research Committee, on various subjects related to general insurance. These papers and articles have not always had a wide circulation, although they have been deposited in the library at Staple Inn.1.3 Most of these papers were of an explanatory or technical nature. In the authors' opinion, the actuary has a much wider rôle in general insurance than the technical one of estimating the liabilities of claims. In fact, the actuary should be able to provide a blue-print or framework for the financial management of a general insurance company.1.4 A general insurance company is a financial concern; therefore the actuarial profession should have a rôle to play. In describing the financial concern, the actuary is required to chart the waters linking profitability, solvency, growth, reserving basis, dividend policy and capital requirements. As the second half of this paper will show, these items are inter-linked and decisions on one should not be taken in isolation as they will have repercussions on one or more of the other items.

Recent developments in the United Kingdom. National report for the United Kingdom to the 24th International Congress of Actuaries, Montreal, 31 May – 5 June 1992

1992 ◽  
Vol 119 (3) ◽  
pp. 569-580
Author(s):  
J. J. McCutcheon ◽  
P. J. Shelley
Keyword(s):  
United Kingdom ◽  
International Congress ◽  
Sickness Insurance ◽  
Future Developments ◽  
Life Assurance ◽  
The United Kingdom ◽  
General Insurance ◽  
Recent Growth ◽  
National Report ◽  
Recent Developments

SummaryThe Report begins by discussing the origins of the actuarial profession in the United Kingdom and the recent growth in its size.The aim of the Report is to describe the more significant recent developments which affect the actuarial profession in the U.K. These developments are discussed under the following headings:Planning,Education,Life assurance,Pensions,General insurance,Relationships with actuaries overseas,Groupe Consultatif,Mortality and sickness insurance statistics,Investment indices.Within each heading there is a discussion of current topics and, where appropriate, of possible future developments.

Sign in / Sign up

Export Citation Format

Share Document