The aim of this paper is to develop an alternative approach for assessing an insurer's solvency as a proposal for a standard model for Solvency II. Instead of deriving minimum capital requirements – as is done in solvency regulation – our model provides company-specific minimum standards for...

Nach den Terrorattacken vom 11. September sehen sich die privaten Erst- und Rückversicherer mit einer völlig veränderten Risikolage konfrontiert, die sie bisher bei ihren Kalkulationen außer Acht ließen. Dr. Michael Wolgast, Gesamtverband der Deutschen Versicherungswirtschaft, schlägt...

The considerable amount of required infrastructure and renewable energy investments expected in the forthcoming years also implies an increasingly relevant contribution of private and institutional investors. In this context, especially regulatory and policy risks have been shown to play a major...