The Financial Management Of Life Insurance Companies

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Financial Management of Life Insurance Companies

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Author : J. David Cummins
Publisher : Springer Science & Business Media
ISBN 13 : 9401122083
Total Pages : 198 pages
Book Rating : 4.4/5 (11 download)

Book Synopsis Financial Management of Life Insurance Companies by : J. David Cummins

Download or read book Financial Management of Life Insurance Companies written by J. David Cummins and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: th This book is published to commemorate the 50 Anniversary of the S.S. Huebner Foundation for Insurance Education. Administered at the Wharton School of the University of Pennsylvania, the Huebner Foundation was established in 1941 to strengthen insurance education at the collegiate level by increasing the number of professors specializing in insurance and enriching the literature in the field. The financial support of leading life insurance companies has enabled the Foundation to provide post-graduate education for prospective insurance teachers and scholars. Through its fellowship program, the Foundation supports students in the Ph.D. program in Risk and Insurance at the Wharton School. The success of the Foundation is measured by the accomplishments of its alumni. Former Huebner Fellows play leading roles in every major area of insurance education. Fellows teach insurance to tens of thousands of undergraduate and MBA students each year and have written hundreds of books and thousands of articles on insurance. Fellows hold leadership positions at the American College, the Life Office Management Association, and the Certified Employee Benefit Specialist Program. The Foundation was created in honor of Dr. Solomon S. Huebner, a pioneer in insurance education. Dr. Huebner taught the first organized course on the economics of insurance ever offered at the collegiate level in 1904. An internationally recognized author and teacher, Dr. Huebner had a profound impact on both insurance education and the insurance industry. He served on the faculty of the Wharton School for more than nearly fifty years.

The Financial Management of Life Insurance Companies

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Author : Oswald T. Falk
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (143 download)

Book Synopsis The Financial Management of Life Insurance Companies by : Oswald T. Falk

Download or read book The Financial Management of Life Insurance Companies written by Oswald T. Falk and published by . This book was released on 1917 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management

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Author : J. David Cummins
Publisher : Springer Science & Business Media
ISBN 13 : 1461550459
Total Pages : 379 pages
Book Rating : 4.4/5 (615 download)

Book Synopsis Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management by : J. David Cummins

Download or read book Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management written by J. David Cummins and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major challenges for life insurance companies have been posed by an unprecedented wave of mergers and acquisitions in the insurance industry and the emergence of non-traditional competitors such as banks, mutual fund companies and investment advisory firms. This is the first book to analyze the determinants of firm performance in the life insurance industry by identifying the `best practices' employed by leading insurers to succeed in this dynamic business environment. The book draws upon data from insurer financial statements as well as upon an extensive survey of life insurer management practices and strategic choices in distribution systems, information technology, mergers and acquisitions, human resources and financial strategies. Generic strategies such as cost leadership, customer focus, and product differentiation are analyzed as well as strategic practices specific to the insurance industry. Best practices are identified by measuring the economic efficiency of insurers and by comparing firms across the industry. Both cost and revenue efficiency are measured relative to best practice efficient frontiers consisting of the industry's dominant life insurance firms. Economies of scale and the effects of mergers and acquisitions on efficiency are also analyzed. Financial strategies are examined with specific reference to pricing policy, valuation of assets and liabilities, and the current state of firm-level risk management systems. The benchmarks established are the result of extensive fieldwork that identifies key financial risks and methodologies to both measure and manage them at the firm level. The results discussed in the book indicate that firm performance is significantly correlated with management practices and strategic choices. Thus, life insurers can improve profitability by adopting optimal combinations of strategies. The book contains important new material on the effects of strategic choices in product distribution systems, information technology, mergers and acquisitions, human resources, and financial risk management policies. In the area of efficiency, the methodology provides a new approach for identifying peer groups of insurers and measuring the performance of individual insurers relative to their peer group. On the topics of risk and pricing, new insights are offered relative to current methodologies and in regard to areas where improvement is clearly warranted. The book concludes with an analysis of the future opportunities and challenges in the life insurance industry facing managers, and the strategic options available to them to cope with these changes.

The Economics of Life Insurance

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Author : Solomon Stephen Huebner
Publisher : Irvington Publishers
ISBN 13 :
Total Pages : 280 pages
Book Rating : 4.:/5 (32 download)

Book Synopsis The Economics of Life Insurance by : Solomon Stephen Huebner

Download or read book The Economics of Life Insurance written by Solomon Stephen Huebner and published by Irvington Publishers. This book was released on 1959 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Insurance and Issues in Financial Soundness

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Author : Nigel Davies
Publisher : International Monetary Fund
ISBN 13 : 1451856008
Total Pages : 45 pages
Book Rating : 4.4/5 (518 download)

Book Synopsis Insurance and Issues in Financial Soundness by : Nigel Davies

Download or read book Insurance and Issues in Financial Soundness written by Nigel Davies and published by International Monetary Fund. This book was released on 2003-07-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores insurance as a source of financial system vulnerability. It provides a brief overview of the insurance industry and reviews the risks it faces, as well as several recent failures of insurance companies that had systemic implications. Assimilation of banking-type activities by life insurers appears to be the key systemic vulnerability. Building on this experience and the experience gained under the FSAP, the paper proposes key indicators that should be compiled and used for surveillance of financial soundness of insurance companies and the insurance sector as a whole.

Modelling in Life Insurance – A Management Perspective

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Author : Jean-Paul Laurent
Publisher : Springer
ISBN 13 : 3319297767
Total Pages : 263 pages
Book Rating : 4.3/5 (192 download)

Book Synopsis Modelling in Life Insurance – A Management Perspective by : Jean-Paul Laurent

Download or read book Modelling in Life Insurance – A Management Perspective written by Jean-Paul Laurent and published by Springer. This book was released on 2016-05-02 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on life insurance and pensions, this book addresses various aspects of modelling in modern insurance: insurance liabilities; asset-liability management; securitization, hedging, and investment strategies. With contributions from internationally renowned academics in actuarial science, finance, and management science and key people in major life insurance and reinsurance companies, there is expert coverage of a wide range of topics, for example: models in life insurance and their roles in decision making; an account of the contemporary history of insurance and life insurance mathematics; choice, calibration, and evaluation of models; documentation and quality checks of data; new insurance regulations and accounting rules; cash flow projection models; economic scenario generators; model uncertainty and model risk; model-based decision-making at line management level; models and behaviour of stakeholders. With author profiles ranging from highly specialized model builders to decision makers at chief executive level, this book should prove a useful resource to students and academics of actuarial science as well as practitioners.

Financial Management of Canadian Life Insurance Companies

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Author : Joanne Richard
Publisher :
ISBN 13 :
Total Pages : 160 pages
Book Rating : 4.:/5 (18 download)

Book Synopsis Financial Management of Canadian Life Insurance Companies by : Joanne Richard

Download or read book Financial Management of Canadian Life Insurance Companies written by Joanne Richard and published by . This book was released on 1980 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Valuation of Indian Life Insurance Companies

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Author : Prasanna Rajesh
Publisher : Business Expert Press
ISBN 13 : 1949991539
Total Pages : 105 pages
Book Rating : 4.9/5 (499 download)

Book Synopsis Valuation of Indian Life Insurance Companies by : Prasanna Rajesh

Download or read book Valuation of Indian Life Insurance Companies written by Prasanna Rajesh and published by Business Expert Press. This book was released on 2019-09-05 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book bridges the gap between the accounting and the actuarial sides of Indian life insurance companies, by exploring the relationships between the embedded value calculated by actuaries and the revenue account and balance sheet prepared by the accountants. The author provides publicly available sources of information to place a value on the shares of Indian life insurance companies from an outsider’s point of view. Life insurance company accounts are complex and require knowledge of specific concepts in order to analyze and appreciate them. This book will help a layperson with reasonable numerical abilities understand the calculation of the share price of a life insurance company. In particular, it will help analysts and accountants with no actuarial background understand the concepts of embedded and appraisal value. Cash flow statements of these companies are often ignored and delegated to the background or usually to a single page in their annual reports. This book examines the cash flows in detail and rearranges them to get a better picture of the financial health of the underlying companies. It also explains the relationship between the different measures of profit such as cash reserves, surplus, profit after tax, and embedded value. Often this information is only available internally or to consultants. The author uses alternative approaches based purely on public disclosures by these companies, thereby enabling professionals without access to internal information to come to informed judgments about the actual performance of the companies.

Financial Management of Life Insurance Companies

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Author : Alexander A. Robichek
Publisher :
ISBN 13 :
Total Pages : 616 pages
Book Rating : 4.:/5 (29 download)

Book Synopsis Financial Management of Life Insurance Companies by : Alexander A. Robichek

Download or read book Financial Management of Life Insurance Companies written by Alexander A. Robichek and published by . This book was released on 1962 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Life Insurance Companies as Financial Institutions

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Author :
Publisher :
ISBN 13 : 9781258273569
Total Pages : 294 pages
Book Rating : 4.2/5 (735 download)

Book Synopsis Life Insurance Companies as Financial Institutions by :

Download or read book Life Insurance Companies as Financial Institutions written by and published by . This book was released on 2012-04-01 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreword Also Written By Eli Shapiro. Preface Written By James J. O'Leary.

Financial Management in the Life Insurance Industry

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Author :
Publisher :
ISBN 13 :
Total Pages : 117 pages
Book Rating : 4.:/5 (5 download)

Book Synopsis Financial Management in the Life Insurance Industry by :

Download or read book Financial Management in the Life Insurance Industry written by and published by . This book was released on 1999 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Life Insurance Fact Book

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Author :
Publisher :
ISBN 13 :
Total Pages : 398 pages
Book Rating : 4.3/5 (555 download)

Book Synopsis Life Insurance Fact Book by :

Download or read book Life Insurance Fact Book written by and published by . This book was released on 1959 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Life Insurance Risk Management Essentials

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Author : Michael Koller
Publisher : Springer Science & Business Media
ISBN 13 : 3642207219
Total Pages : 345 pages
Book Rating : 4.6/5 (422 download)

Book Synopsis Life Insurance Risk Management Essentials by : Michael Koller

Download or read book Life Insurance Risk Management Essentials written by Michael Koller and published by Springer Science & Business Media. This book was released on 2011-05-04 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of the book is to provide an overview of risk management in life insurance companies. The focus is twofold: (1) to provide a broad view of the different topics needed for risk management and (2) to provide the necessary tools and techniques to concretely apply them in practice. Much emphasis has been put into the presentation of the book so that it presents the theory in a simple but sound manner. The first chapters deal with valuation concepts which are defined and analysed, the emphasis is on understanding the risks in corresponding assets and liabilities such as bonds, shares and also insurance liabilities. In the following chapters risk appetite and key insurance processes and their risks are presented and analysed. This more general treatment is followed by chapters describing asset risks, insurance risks and operational risks - the application of models and reporting of the corresponding risks is central. Next, the risks of insurance companies and of special insurance products are looked at. The aim is to show the intrinsic risks in some particular products and the way they can be analysed. The book finishes with emerging risks and risk management from a regulatory point of view, the standard model of Solvency II and the Swiss Solvency Test are analysed and explained. The book has several mathematical appendices which deal with the basic mathematical tools, e.g. probability theory, stochastic processes, Markov chains and a stochastic life insurance model based on Markov chains. Moreover, the appendices look at the mathematical formulation of abstract valuation concepts such as replicating portfolios, state space deflators, arbitrage free pricing and the valuation of unit linked products with guarantees. The various concepts in the book are supported by tables and figures.

An Executive Guide to Federal Income Taxation of Life Insurance Companies

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Author : Life Office Management Association
Publisher :
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4.:/5 (27 download)

Book Synopsis An Executive Guide to Federal Income Taxation of Life Insurance Companies by : Life Office Management Association

Download or read book An Executive Guide to Federal Income Taxation of Life Insurance Companies written by Life Office Management Association and published by . This book was released on 1974 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Business Process Management

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Author : Roger Burlton
Publisher : Pearson Education
ISBN 13 : 0132797062
Total Pages : 528 pages
Book Rating : 4.1/5 (327 download)

Book Synopsis Business Process Management by : Roger Burlton

Download or read book Business Process Management written by Roger Burlton and published by Pearson Education. This book was released on 2001-05-17 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business processes are the production lines of the new economy. When they fail us, our products and services fail our customers, and our business fails its owners. The more businesses change, the more they must concern themselves with their stakeholder relationships and manage their processes so that technologies and organization designs have a common business purpose. This book shows you how to deliver integral processes and helps you build a fully process-managed enterprise. The Process Management Framework provides the strategic guidance and tactical steps to make the switch. Encompassing eight phases, the Framework migrates organizational and process transformation through strategy, design, realization, and actual operations. For each phase, this book provides detailed descriptions of the steps, their inputs, outputs, guides, and enablers, as well as the tricks, traps, and best practices learned by experienced practitioners. It also covers the related disciplines of managing programs, risk, quality, projects, and human change, and how process management is the key to ensure a fit among all these areas. For those of you about to embark on a process journey, this book provides a compelling call to action, a guide for management, and an invaluable reference. Learn the concepts and transform your business! See why process management is an inevitable trend that won't go away. Understand why relationship management needs effective processes to work. Define your stakeholders and determine their needs. Discover what other organizations have done to manage processes successfully. Explore a complete framework for managing business, process, and human change. Apply your knowledge to manage process projects effectively and efficiently. Learn what to do and what to avoid in every step. Develop processes to align technology, organization, and facility transformation. Gain cross-organizational acceptance of process and personal change. Anticipate objections and proactively manage stakeholder concerns.

The Life Insurance Industry in India

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Author : Tapas Kumar Parida
Publisher : Springer
ISBN 13 : 981102233X
Total Pages : 111 pages
Book Rating : 4.8/5 (11 download)

Book Synopsis The Life Insurance Industry in India by : Tapas Kumar Parida

Download or read book The Life Insurance Industry in India written by Tapas Kumar Parida and published by Springer. This book was released on 2016-12-28 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book traces the development and analyses the performance of life insurance industry in India, since inception of this sector, using different business indicators over the years. It discusses the evolution and changing features of the Indian insurance industry in 3 phases: phase I from 1818 to 1956, phase II from 1956 to 2000 (known as the nationalisation period) and phase III post 2000 (called the post reform period). The book also measures the relative efficiency and productivity of the life insurance industry in India for the post-reform period, by employing Data Envelopment Analysis (DEA). Despite the fact that the life insurance sector recorded a compound annual growth rate (CAGR) of 17% in terms of total premiums and 21% in terms of new business premium collections during the post reform period, the insurers continue to grapple with the issue of profitability. Against this background, the book presents results on the factors determining profitability of the life insurance companies using measures of efficiency and competition. By helping regulatory authorities determine the future course of action in the context of entry of foreign insurers and also in establishing a level playing field, the book has important policy implications.

Audit Program Approaches for Selected Operations of Life Insurance Companies

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Author : Life Office Management Association
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (17 download)

Book Synopsis Audit Program Approaches for Selected Operations of Life Insurance Companies by : Life Office Management Association

Download or read book Audit Program Approaches for Selected Operations of Life Insurance Companies written by Life Office Management Association and published by . This book was released on 1974 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: