Skandia Annual Report
... The result before tax was SEK -407 million (-4,260). The result for unit linked assurance amounted to SEK 839 million (972), despite a strengthening of technical reserves in the amount of SEK 300 million. Shares in subsidiaries were written down by SEK 2,849 million, which is associated with dividen ...
... The result before tax was SEK -407 million (-4,260). The result for unit linked assurance amounted to SEK 839 million (972), despite a strengthening of technical reserves in the amount of SEK 300 million. Shares in subsidiaries were written down by SEK 2,849 million, which is associated with dividen ...
Information effect of entry into credit ratings market
... trade-off between the two effects defines the boundary of the lowest rating. The model results in multiple equilibrium disclosure policies for rated sellers of higher quality. However, in all equilibria, the payoff of rated sellers is non-decreasing in quality. Also, as the value of information precisi ...
... trade-off between the two effects defines the boundary of the lowest rating. The model results in multiple equilibrium disclosure policies for rated sellers of higher quality. However, in all equilibria, the payoff of rated sellers is non-decreasing in quality. Also, as the value of information precisi ...
Testing Moral Hazard and Tax Benefit Hypotheses: Evidence from
... maintaining a minimum level of pension funding while investing a maximum level of plan assets into risky assets.2 As an interesting contrast, Black (1980) and Tepper (1981) suggest a “max-mini” strategy from a tax benefit perspective and show that a tax arbitrage opportunity exists if sponsors inve ...
... maintaining a minimum level of pension funding while investing a maximum level of plan assets into risky assets.2 As an interesting contrast, Black (1980) and Tepper (1981) suggest a “max-mini” strategy from a tax benefit perspective and show that a tax arbitrage opportunity exists if sponsors inve ...
AON CORP (Form: 10-K, Received: 03/11/2004 16
... In our managing general underwriting business, we provide outsourcing solutions to insurance companies, such as risk selection, premium rating, form design and client service, but we do not assume any underwriting risk. Aon's wholesale brokers and managing general underwriting units offer more than ...
... In our managing general underwriting business, we provide outsourcing solutions to insurance companies, such as risk selection, premium rating, form design and client service, but we do not assume any underwriting risk. Aon's wholesale brokers and managing general underwriting units offer more than ...
International Convergence of Capital Measures and Capital
... Undisclosed reserves..................................................................................14 ...
... Undisclosed reserves..................................................................................14 ...
CREDIT RISK Credit risk modeling theory and applications
... is to deliver what I think are the central themes of the literature, emphasizing “the basic idea,” or the mathematical structure, one must know to appreciate it. After this, I hope the reader will be better at tackling the literature on his or her own. The second purpose of my introductory statistic ...
... is to deliver what I think are the central themes of the literature, emphasizing “the basic idea,” or the mathematical structure, one must know to appreciate it. After this, I hope the reader will be better at tackling the literature on his or her own. The second purpose of my introductory statistic ...
Group Consolidated Financial Statements 2016 (IFRS)
... Items that may not be reclassified to profit or loss Remeasurement of net liability of defined pension plans Deferred taxes relating to items that may not be reclassified Total ...
... Items that may not be reclassified to profit or loss Remeasurement of net liability of defined pension plans Deferred taxes relating to items that may not be reclassified Total ...
US CORNER - Paul, Weiss
... may have given back some approval rights. Each situation will be unique not only because of the circumstances surrounding the borrower but because of the terms of the intercreditor agreement. These agreements are not standardised and will require careful analysis and review because differences in te ...
... may have given back some approval rights. Each situation will be unique not only because of the circumstances surrounding the borrower but because of the terms of the intercreditor agreement. These agreements are not standardised and will require careful analysis and review because differences in te ...
American International Group, Inc.
... Insurance. The Corporate and Other category consists of businesses and items not allocated to our reportable segments. Certain of our management activities, such as investment management, enterprise risk management, liquidity management and capital management, and our balance sheet reporting, are co ...
... Insurance. The Corporate and Other category consists of businesses and items not allocated to our reportable segments. Certain of our management activities, such as investment management, enterprise risk management, liquidity management and capital management, and our balance sheet reporting, are co ...
1 LOWLAND MORTGAGE BACKED SECURITIES 1 BV
... Application has been made to list the euro 538,600,000 Senior Class A1 Mortgage-Backed Floating Rate Notes 2012 due 2044 (the "Senior Class A1 Notes"), the euro 2,799,300,000 Senior Class A2 Mortgage-Backed Fixed Rate Notes 2012 due 2044 (the "Senior Class A2 Notes"), the euro 189,600,000 Mezzanine ...
... Application has been made to list the euro 538,600,000 Senior Class A1 Mortgage-Backed Floating Rate Notes 2012 due 2044 (the "Senior Class A1 Notes"), the euro 2,799,300,000 Senior Class A2 Mortgage-Backed Fixed Rate Notes 2012 due 2044 (the "Senior Class A2 Notes"), the euro 189,600,000 Mezzanine ...
CP11/31 - Mortgage Market Review - updated 1/2/12
... many consumers who could have afforded a mortgage might be constrained to take out a smaller mortgage or to delay house purchase or house move. The Cost Benefit Analysis (CBA) sets out our best estimate of these effects, and of the balance of consumer welfare which might result. It is important to s ...
... many consumers who could have afforded a mortgage might be constrained to take out a smaller mortgage or to delay house purchase or house move. The Cost Benefit Analysis (CBA) sets out our best estimate of these effects, and of the balance of consumer welfare which might result. It is important to s ...
CHINA LIFE INSURANCE CO LTD (Form: 20-F
... The statistical and market share information contained in this annual report has been derived from government sources, including the China Insurance Yearbook 2006, the China Insurance Yearbook 2007, the China Insurance Yearbook 2008 and other public sources. The information has not been verified by ...
... The statistical and market share information contained in this annual report has been derived from government sources, including the China Insurance Yearbook 2006, the China Insurance Yearbook 2007, the China Insurance Yearbook 2008 and other public sources. The information has not been verified by ...
Developing Annuities Markets The Experience of Chile
... a result of valuating assets at book value on their balance sheet, equivalent to the unrealized capital appreciation of the assets. Calce Rule The generally recognized name for the rule that regulates provisioning and capital requirements with respect to annuities written by life insurance companies ...
... a result of valuating assets at book value on their balance sheet, equivalent to the unrealized capital appreciation of the assets. Calce Rule The generally recognized name for the rule that regulates provisioning and capital requirements with respect to annuities written by life insurance companies ...
Draft technical specifications
... SCR.13.1. Principle 1 – Effective Risk Transfer............................................................... 332 SCR.13.2. Principle 2: Economic effect over legal form .................................................. 333 SCR.13.3. Principle 3: Legal certainty, effectiveness and enforceability .. ...
... SCR.13.1. Principle 1 – Effective Risk Transfer............................................................... 332 SCR.13.2. Principle 2: Economic effect over legal form .................................................. 333 SCR.13.3. Principle 3: Legal certainty, effectiveness and enforceability .. ...
Eron Mortgage Study
... of responsibility and possibilities for prevention Pilot testing of the survey, mailed to 520 randomly selected Eron investors Pilot testing of telephone interviews with 30 randomly selected Eron investors Interim data analysis of survey responses and interviews Presentation of an Interim Report, di ...
... of responsibility and possibilities for prevention Pilot testing of the survey, mailed to 520 randomly selected Eron investors Pilot testing of telephone interviews with 30 randomly selected Eron investors Interim data analysis of survey responses and interviews Presentation of an Interim Report, di ...
Are Pension Funds too Important to Fail?
... appropriate policy measures are. The pros and cons of the different policy strategies are analyzed. Alternatively, pension funds may also be too big to save. Literature on pension funds being too important to fail or too big to save is scarce. There is however extensive literature on these questions ...
... appropriate policy measures are. The pros and cons of the different policy strategies are analyzed. Alternatively, pension funds may also be too big to save. Literature on pension funds being too important to fail or too big to save is scarce. There is however extensive literature on these questions ...
Download attachment
... appropriate amounts from the reinsurers. If for example, a reinsurer became insolvent and was unable to pay his share of a claim, the resulting loss would have to be borne by the insurer and not by the insured. 22 Stabilized profit and loss ratios are the important advantages from using reinsurance. ...
... appropriate amounts from the reinsurers. If for example, a reinsurer became insolvent and was unable to pay his share of a claim, the resulting loss would have to be borne by the insurer and not by the insured. 22 Stabilized profit and loss ratios are the important advantages from using reinsurance. ...
Mapping the Moral Compass
... professional notions of the in-house role disengagement (the extent to which people are but also with team orientations and the inclined to morally disengage to behave broader organisational environment. unethically without feeling distress). It is as rich a picture of what it means to be an ethical ...
... professional notions of the in-house role disengagement (the extent to which people are but also with team orientations and the inclined to morally disengage to behave broader organisational environment. unethically without feeling distress). It is as rich a picture of what it means to be an ethical ...
chapter 1 - Test Bank wizard
... Which of the following is NOT a potential problem when estimating and using betas, i.e., which statement is FALSE? a. Sometimes, during a period when the company is undergoing a change such as toward more leverage or riskier assets, the calculated beta will be drastically different from the "true" o ...
... Which of the following is NOT a potential problem when estimating and using betas, i.e., which statement is FALSE? a. Sometimes, during a period when the company is undergoing a change such as toward more leverage or riskier assets, the calculated beta will be drastically different from the "true" o ...
NBER WORKING PAPER SERIES EXECUTIVES' "OFF-THE-JOB" BEHAVIOR, CORPORATE CULTURE, AND FINANCIAL
... We examine how and why two aspects of top executives’ behavior outside the workplace, as measured by their legal infractions and ownership of luxury goods, are related to the likelihood of future misstated financial statements, including fraud and unintentional material reporting errors.1 We investi ...
... We examine how and why two aspects of top executives’ behavior outside the workplace, as measured by their legal infractions and ownership of luxury goods, are related to the likelihood of future misstated financial statements, including fraud and unintentional material reporting errors.1 We investi ...
- TP ICAP
... and includes any relevant implementing measure in a relevant Member State of the European Economic Area. Application has been made to the Financial Conduct Authority (the “FCA”) in its capacity as competent authority (the “United Kingdom Listing Authority”) for Notes issued under the Programme durin ...
... and includes any relevant implementing measure in a relevant Member State of the European Economic Area. Application has been made to the Financial Conduct Authority (the “FCA”) in its capacity as competent authority (the “United Kingdom Listing Authority”) for Notes issued under the Programme durin ...
Pillar 3 Risk and Capital Management Report 2016
... calculation of the groups capital adequacy ratio (CAR) through the application of the threshold deduction method, detail of which can be found on the next page. Implementation of the SAM regime is only expected during the second half of 2017. The insurance businesses are on track with their SAM impl ...
... calculation of the groups capital adequacy ratio (CAR) through the application of the threshold deduction method, detail of which can be found on the next page. Implementation of the SAM regime is only expected during the second half of 2017. The insurance businesses are on track with their SAM impl ...
CLS Bank International Best Practices for Nostro Agents and Nostro
... solutions for potential Nostro Agent failures. In the course of discussions with Members, it became clear that no single solution can be applied for all Members. As a result, at this time, CLS has established a set of Best Practices for Nostro Agents and Nostro Clients. Members should use the mitiga ...
... solutions for potential Nostro Agent failures. In the course of discussions with Members, it became clear that no single solution can be applied for all Members. As a result, at this time, CLS has established a set of Best Practices for Nostro Agents and Nostro Clients. Members should use the mitiga ...
CTAs: Shedding light on the black box
... another way, investing in CTAs will entail years, perhaps even consecutive years, when such programs will collectively be among the worst in any portfolio. There is a cyclicality to performance that allocators must therefore consider. This is borne out in the table below, which ranks the performance ...
... another way, investing in CTAs will entail years, perhaps even consecutive years, when such programs will collectively be among the worst in any portfolio. There is a cyclicality to performance that allocators must therefore consider. This is borne out in the table below, which ranks the performance ...
Download Dissertation
... The prevalence of non-zero bases and the rejection of cointegration between CDS premiums and bond yield spreads do not, in and of themselves, indicate a different price for credit risk. Pricing model shows that deeply discounted bond prices account for positive bases. The basis does remain, however, ...
... The prevalence of non-zero bases and the rejection of cointegration between CDS premiums and bond yield spreads do not, in and of themselves, indicate a different price for credit risk. Pricing model shows that deeply discounted bond prices account for positive bases. The basis does remain, however, ...