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In May 2017, the International Accounting Standards Board published an IFRS standard designed to be applied to insurance contracts: IFRS 17 Insurance Contracts. The new standard will replace the current applicable standard, IFRS 4. IFRS 17 will be enforceable from 1 January 2022, leaving insurers a little more than two years to implement it. 
In the first instance, this thesis explains the main requirements of the new standard largely based on the text published by the IASB.
Moreover, as IFRS 17 is often compared to Solvency II, a comparison of both standards was carried out in order to ascertain whether it would be possible to leverage some elements of Solvency II to implement IFRS 17.
Furthermore, the status of the progress of the implementation of IFRS 17 was also investigated. The main purpose of this investigation was to identify what insurance companies had already carried out and the various remaining steps they were using for the implementation of the standard
Besides, the application of the standard was demonstrated through two practical examples. Finally, technical provisions (TPs) under the current regime (i.e. local GAAP) were computed to be compared to the TPs of IFRS 17 in order to measure whether the new standard does represent a significance difference in their computations.

IFRS 17, Solvency II, Insurance --- Sciences économiques & de gestion > Finance

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Deze thesis handelt omtrent bedrijfsspecifieke volatiliteit en, meer in het bijzonder, de invloed van financiële ratio's hierop.Vooreerst wordt een overzicht gegeven van de bestaande literatuur. Daarna volgt eigen onderzoek waarbij bedrijfsspecifieke volatiliteit, via een panel data model, geregresseerd wordt ratio's voor liquiditeit, solvabiliteit en rentabiliteit.

Idiosyncratic volatility. --- Liquidity. --- P130-functies. --- P160-statistiek. --- Panel data model. --- Profitability. --- Solvency.

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Financial ratios are an important technique of the financial analysis of a business organization. Effective financial management is the key to running a financially successful business. Ratio analysis is critical for helping you understand financial statements, for identifying trends over time, and for measuring the overall financial health of your business. Lenders and potential investors often rely on ratio analysis for making lending and investing decisions. This book aims to not only develop an understanding of the concepts of financial ratios but also to provide the students a practical insight into the application of financial ratios for decision making and control. It analyzes the financial statements of corporate enterprises in India in diverse sectors with the help of financial ratios in order to facilitate the learning process.

Ratio analysis. --- efficiency --- financial analysis --- financial performance --- financial ratios --- financial statements --- liquidity --- market performance --- profitability --- solvency

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Since the 2008 crisis, the financial industry has been assailed by an endless number of regulations. Whether brand new or steps in a journey – that nobody knows when it will end – each regulation influences the financial world. They have even become one of the main challenges for the market.
Mainly implemented to enhance the financial stability of the industry or to protect customers, they are too often perceived as significant costs for companies. Indeed, the price of reaching compliance is not to be underestimated as it includes both people and technology.
However, by choosing the right approach to their implementation, the firms impacted could actually save time and money in the long run. But to do so, they need to take well thought-out and judicious actions that best suit their business. These include strategic, operational and tactical responses. The implementation journey is therefore long and difficult.

Basel III --- Solvency II --- MiFID II --- opportunities --- Sciences économiques & de gestion > Finance

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This paper compares solvency capital requirements under Solvency I and Solvency II for a sample mid-size insurance portfolio. According to the results of a study, changing the solvency capital regime from Solvency I to Solvency II will lead to a substantial additional solvency capital requirement that might represent a heavy burden for the company's shareholders. One way to reduce the capital requirement under Solvency II is to increase reinsurance protection, which will reduce the net retained risk exposure and hence also the solvency capital requirement. Therefore, this paper proposes an extended reinsurance structure that, under Solvency II, brings the capital requirement back to the level of that required under Solvency I. In a step-by-step approach, the paper demonstrates the extent of solvency relief attained by the insurer by applying different possible adjustments in the reinsurance structure. To evaluate the efficiency of reinsurance as the solvency capital relief instrument, the authors introduce a cost-of-capital based approach, which puts the achieved capital relief in relation to the costs of extending the reinsurance protection. This approach allows a direct comparison of reinsurance as a capital relief instrument with debt instruments available in the capital market. With the help of the introduced approach, the authors show that the best capital relief efficiency under all examined reinsurance alternatives is achieved when a financial quota share contract is chosen for proportional reinsurance.

Banking Law --- Capital Requirement --- Debt Markets --- Finance and Financial Sector Development --- Hazard Risk Management --- Insurance & Risk Mitigation --- Insurance Law --- Insurance Portfolio --- Non-Life --- Private Sector Development --- Reinsurance --- Risk Management --- Solvency I --- Solvency II