A framework for the regulation of long-term insurers : solvency assessment and the role of the statutory actuary

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dc.contributor.author Viljoen, Dirk Johannes
dc.date.accessioned 2012-09-18T05:15:22Z
dc.date.available 2012-09-18T05:15:22Z
dc.date.issued 2012-09-18
dc.identifier.uri http://hdl.handle.net/10539/11956
dc.description.abstract In this dissertation the theory of solvency assessment for long-term insurers is reviewed and how it evolved. Key international bodies and standards are identified and selected jurisdictions’ solvency frameworks are reviewed. The South African framework required by legislation introduced in 1998 is compared to these standards. Solvency capital requirements, valuation methods and risk management standards are the key areas considered. The financial results of a model office according to the South African requirements are compared to the financial results modelled stochastically according to the identified international standards. It is shown that the South African framework does not meet international standards. The key problem areas are the prescribed nature of the solvency capital requirement, the onerous treatment of policy cancellations and the treatment of new business. The role of actuaries in solvency assessment is also investigated. South Africa’s statutory-actuary role is compared with similar international roles. It is concluded that although similar international roles, notably the appointed actuary of the UK, have evolved the role of the statutory actuary has remained the same. en_ZA
dc.language.iso en en_ZA
dc.subject.lcsh Actuaries.
dc.subject.lcsh Insurance - Mathematics.
dc.subject.lcsh Risk management.
dc.subject.lcsh Investment analysis.
dc.title A framework for the regulation of long-term insurers : solvency assessment and the role of the statutory actuary en_ZA
dc.type Thesis en_ZA


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