Show simple item record

dc.contributor.authorSharara, Ishmael 18:46:31 (GMT) 18:46:31 (GMT)
dc.description.abstractIn many regions of the world, the solvency regulation of insurers is becoming more principle-based and market oriented. However, the exact forms of the solvency standards that are emerging in individual jurisdictions are not entirely consistent. A common risk and capital framework can level the global playing field and possibly reduce the cost of capital for insurers. In the thesis, a conceptual framework for measuring the insolvency risk of life insurance companies will be proposed. The two main advantages of the proposed solvency framework are that it addresses the issue of incentives in the calibration of the capital requirements and it also provides an associated decomposition of the insurer's insolvency risk by term. The proposed term structure of insolvency risk is an efficient risk summary that should be readily accessible to both regulators and policyholders. Given the inherent complexity of the long-term guarantees and options of typical life insurance policies, the term structure of insolvency risk is able to provide stakeholders with more complete information than that provided by a single number that relates to a specific period. The capital standards for life insurers that are currently existing or have been proposed in Canada, U.S., and in the EU are then reviewed within the risk and capital measurement framework of the proposed standard to identify potential shortcomings.en
dc.publisherUniversity of Waterlooen
dc.subjectregulatory capitalen
dc.subjectlife insurersen
dc.subjectglobal frameworken
dc.subjectsolvency regulationen
dc.subjectcapital allocationen
dc.subjectterm structure of insolvency risken
dc.subjectinsolvency risken
dc.titleToward a unified global regulatory capital framework for life insurersen
dc.typeDoctoral Thesisen
dc.subject.programActuarial Scienceen and Actuarial Scienceen
uws-etd.degreeDoctor of Philosophyen

Files in this item


This item appears in the following Collection(s)

Show simple item record


University of Waterloo Library
200 University Avenue West
Waterloo, Ontario, Canada N2L 3G1
519 888 4883

All items in UWSpace are protected by copyright, with all rights reserved.

DSpace software

Service outages