Valuation of non-life technical provisions under Solvency II
31 January 2013
Solvency II introduces a new—and, for many, a fundamentally different—approach to establishing technical provisions for outstanding claims and premiums. The new approach is driven by the need to calculate liabilities on a market-consistent basis. Thus, in the absence of suitable hedge portfolios, the technical provisions on a Solvency II basis are determined as a discounted best estimate augmented by a risk margin.
About the Author(s)
Vincent Robert
Gary Wells
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Valuation of non-life technical provisions under Solvency II
Solvency II introduces a new approach to establishing technical provisions for outstanding claims and premiums that is driven by the need to calculate liabilities on a market-consistent basis.
Jeff Courchene, Vincent Robert, Joël van der Vorst, Gary Wells