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Dynamic financial analysis (DFA) is method for assessing the risks of an insurance company using a holistic model as opposed to traditional actuarial analysis, which analyzes risks individually. Specifically, DFA reveals the dependencies of hazards and their impacts on the insurance company's financial well being as a whole such as business mix ...
The Model Audit Rule 205, Model Audit Rule, or MAR 205 are the commonly applied terms for the Annual Financial Reporting Model Regulation. [1] Model Audit Rule is a financial reporting regulation applicable to insurance companies, and borrows significantly from the Sarbanes Oxley Act of 2002 (see ‘key sections’ below).
This cost is then allocated to each business line of an investment bank (usually as a contra revenue). This allocated cost is called the "CVA Charge". A Credit valuation adjustment ( CVA ), [ a ] in financial mathematics , is an "adjustment" to a derivative's price, as charged by a bank to a counterparty to compensate it for taking on the ...
The term "underwriting" derives from the Lloyd's of London insurance market. Financial backers (or risk takers), who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
Bancassurance encompasses a variety of business models. These business models generally fall into three categories: Integrated models (where the bancassurance activity is closely tied to the banking business). Advice-based models (where there is less integration and the distribution is based on using professional insurance advisers to sell to ...
Risk-based cost of insurance. This is the full actuarial rate calculated by FEMA under the new risk plan based on expected losses. Due to state subsidies, most policyholders pay below this amount.
X-Value Adjustment (XVA, xVA) is an umbrella term referring to a number of different “valuation adjustments” that banks must make when assessing the value of derivative contracts that they have entered into.
In actuarial science and applied probability, ruin theory (sometimes risk theory [1] or collective risk theory) uses mathematical models to describe an insurer's vulnerability to insolvency/ruin. In such models key quantities of interest are the probability of ruin, distribution of surplus immediately prior to ruin and deficit at time of ruin.