An Alternative to the Net Premium Valuation Method for Statutory Reporting

An Alternative to the Net Premium Valuation Method for Statutory Reporting

This paper reviews the present statutory valuation method and regime. It discusses the usefulness and effectiveness of the method in relation to the current range of insurance contracts. It suggests a possible alternative approach to statutory valuation which could enable offices to demonstrate both...

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Veröffentlicht in:British Actuarial Journal 1996-08, Vol.2 (3), p.527-621
Hauptverfasser: Scott, P.G., Elliott, S.F., Gray, L.J., Hewitson, T.W., Lechmere, D.J., Lewis, D., Needleman, P.D.
Format: Artikel
Sprache:eng
Schlagworte:
Actuarial science
Business structures
Financial margins
Insurance premiums
Market value
Offices
Policyholders
Sessional meetings: papers and abstracts of discussions
Shareholders
Solvency
Valuation
Valuation methods
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Beschreibung
Zusammenfassung:This paper reviews the present statutory valuation method and regime. It discusses the usefulness and effectiveness of the method in relation to the current range of insurance contracts. It suggests a possible alternative approach to statutory valuation which could enable offices to demonstrate both their solvency and their ability to meet policyholders' reasonable expectations. It reviews the effects of introducing the suggested method and its relationship with other current reporting issues.
ISSN:1357-3217
2044-0456
1748-5002
DOI:10.1017/S1357321700003500