Contributions from the 31st General Assembly of the Geneva Association, June 2004
The Geneva Papers (2005) 30, 52–59. doi:10.1057/palgrave.gpp.2510008
Capital Adequacy and Risk Management in Insurance
Risk and Capital Management in Insurance Companies
Nikolaus von Bomharda
aMunich Re, Königinstrasse 107, München 80802, Germany. E-mail: dscheckenbach@munichre.com
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Abstract
This article is reasoning why risk and capital management in insurance companies malfunctioned partially during the recent capital market crises and what measures insurers and regulators have to adopt to ameliorate thoroughly their control and steering systems. Comparisons to finance and banking are made throughout the article, because they are Instructive and rich in contrast.
Keywords:
insurance risk management, capital management, Solvency II, asset/liability management
