Browsing by Subject "insurance"

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  • Pylkkönen, Pertti; Savolainen, Eero (2016)
    Bank of Finland. Bulletin 2/2016
    At the beginning of 2016, a new life and non-life insurance company solvency regulation was launched in EU, the so-called Solvency II regime. In the new regulation, both assets and liabilities of insurance companies are valued at market terms. The timing of the reform is awkward for the companies, as low interest rates and economic uncertainty burden company solvency.
  • Gaganis, Chrysovalantis; Hasan, Iftekhar; Pasiouras, Fotios (2015)
    Bank of Finland Research Discussion Papers 15/2015
    Published in Omega, The International Journal of Management Science, Volume 59, March 01, 2016: 113-129
    This paper investigates the role of technical reserves in the income smoothing behavior of insurance companies. This is one of the first attempts in the literature to trace such relationship in the insurance industry, especially at a multi-country setting. The experience of 770 insurance firms operating in 87 countries over the period 2000-2009 reveals that there is a significant evidence of income smoothing. The paper also finds that institutional characteristics, e.g., the rule of law, common law legal origin, economic freedom, and regulations relating to technical provisions and supervisory power constrain income smoothing but other factors such as capital requirements, tax deductibility of provisions, auditing, and corporate governance do not have a significant effect.
  • Sinersalo, Mikko (2020)
    Finanssivalvonta. Blogi 16/2020
    Losses caused by natural disasters, in particular, are monitored more closely. In Western countries, insurance coverage of these is nearly 50%, but in the poorest countries it is only some 5%1. For example, the protection gap for weather events has grown at an alarming pace globally. Climate change is expected to fuel this negative trend further.