Informacja o seminarium EAA "Determining and Allocating Capital", 10-12 czerwca 2010, Paryż

Dear Sir or Madam,

please note that the early-bird deadline for the EAA seminar “Determining and Allocating Capital” on 10-12 June 2010 in Paris is coming up! Your registration fee is 1,040.00 € until 8th May 2010, after that date, the fee will be 1,150.00 €. Register now and save with they early-bird!

With the date of October 2012 coming closer and closer, many insurance companies have realized that they still need to do a lot of work on preparing for Solvency II. A major part of Solvency II is having the models in place to enable calculations of the market value of liabilities and solvency capital. But not only the models themselves are important, also the governance and processes that relate to the use of the models are important.

Many (large) insurers have recognized that Solvency II does not only need to be a statutory requirement. It can also be used as a unique opportunity to establish a sound risk management framework, with an economic capital model at its centre. Due to this insight many insurance companies nowadays spend a lot of time and money on developing advanced capital models that are capable of stochastic calculations. These models will enable them to demonstrate how much the sales of products attributes to the value of the company and how much capital is needed to sell those products. By defining upfront the risk profile of the company and the desired risk – return targets, companies can then make the right choices. This will help them to gain a competitive advantage over their competitors that do not have such models in place or do not use them in the same way.

In a recent report the CEA (European insurance and reinsurance federation) warns of economic downsides to excessive capital requirements. “The insurance industry has serious concerns about the effect of some of the current proposals, as they would be bad for consumers, bad for Europe’s economy and bad for the insurance industry,” according to the CEA president. Over-capitalisation would affect the competitiveness of the EU insurance sector and its ability to attract new funding, putting it at a disadvantage in the global market.

This once again shows that it could pay to develop a sophisticated capital model, with parameters based on observations from the own portfolio and risk based on the own risk profile, instead of using the standard model of CEIOPS. So here lies a rewarding and challenging task for the actuaries: to develop these models together with risk, financial and ALM specialists.

During this seminar you will learn more about the background for the need to develop these capital models, how to develop these models and how to use them in practice. You will not only learn about this by means of presentations by the lecturers, but also by doing workshops and working with models.

Please find additional information and a registration form at www.actuarial-academy.com. An overview on upcoming events is enclosed.

Best regards

Susanne Renfordt

European Actuarial Academy GmbH
Hohenstaufenring 47 – 51
50674 Cologne
Germany
Tel. +49/(0)221/912554-21
Mobile Phone +49/(0)151/14069357
Fax +49/(0)221/912554-45
www.actuarial-academy.com
Commercial Register: Köln HRB 56792
Tax Number: 214/5804/1977

Stworzone przez: