Presentation on Life Insurance Fund & Solvency Management

Presentation on Life Insurance Fund & Solvency Management AKM Elias Hussain President, Actuarial Society of Bangladesh

Insurance Companies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Insurance Companies, cont. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Insurance Concepts ,[object Object],[object Object],[object Object],[object Object],[object Object]

Background ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Types of Life Insurance Policies Group Whole Life Variable Life Universal Life Term Group Cash Value Insurance Term Insurance

Types of Life Insurance Policies ,[object Object],[object Object],[object Object],[object Object]

Types of Life Insurance Policies ,[object Object],[object Object],[object Object],[object Object],[object Object]

Types of Life Insurance Policies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Health Care Insurance ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Sources of Life Insurance Company Funds ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Uses of Life Insurance Company Funds ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Uses of Funds—Policy Loans ,[object Object],[object Object],[object Object],[object Object],[object Object]

Insurance Company Capital ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Risks of Life Insurance Companies Pure Risk of Life Insurance Policies Pension Commitments and Annuities Contracts Financial Risk includes Interest Rate Risk Credit Risk Market Risk Liquidity Risk

Exposure to Financial Risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Exposure to Financial Risks ,[object Object],[object Object],[object Object]

Exposure to Financial Risks ,[object Object],[object Object],[object Object],[object Object],[object Object]

Threats to Solvency ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

How to handle threats to solvency ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Assets Liability Management ,[object Object]

Asset Management ,[object Object],[object Object],[object Object],[object Object]

Property and Casualty Insurance ,[object Object],[object Object],[object Object]

PC Versus Life Insurance Companies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Property Casualty Investment Needs ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Components of a Balance sheet Contingent Liabilities ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Components of Liabilities ,[object Object],[object Object],[object Object],[object Object],[object Object]

Components of Assets ,[object Object],[object Object],[object Object],[object Object],[object Object]

Valuation of an Insurance Company ,[object Object], V = f [  E(CF),  k]  V = Change in value of the insurance company  k = Change in required rate or return Where:  E(CF) = Change in expected cash flows +

Valuation of an Insurance Company ,[object Object],E(CF) = Expected cash flow R f = Risk free interest rate INDUS = Prevailing industry conditions for the company Where:  E(CF)= f (  ECON,  R f ,  INDUS,  MANAB) ECON = Economic growth MANAB = Management ability of company + + ?

Valuation of an Insurance Company ,[object Object], k = f (  R f ,  RP) + + R f = Risk free interest rate Where: RP = Risk premium

Performance Evaluation ,[object Object],[object Object],[object Object],[object Object],[object Object]

Performance Evaluation ,[object Object],Liquidity Ratio = Invested Assets Loss Reserves and Unearned Premium Reserves

Performance Evaluation ,[object Object],Return on Equity = Net Profits Policyholders’ Surplus

Performance Evaluation ,[object Object],[object Object],[object Object],Net Underwriting = Premium Income - Policy Expenses Total Assets Margin

Other Issues ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Presentation on Life Insurance Fund & Solvency Management

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Presentation on Life Insurance Fund & Solvency Management