Capital Allocation under New Canadian Regulations for P&C Insurers
We are currently in a transition period for Canadian insurance companies' regulation, moving from specific guidelines given by the Canadian Institute of Actuaries and the Office of the Superintendent of Financial Institutions to the new IFRS 17 framework. The changes are more specifically related to the financial reporting and calculations of reserves. In this presentation, we will describe the impact on researchers of the new regulatory framework. We will present specific cases, where using precise dependence models and new risk measures can be useful tools for insurance companies, to help them provide more accurate reserves and risk adjustment amounts. We will also present some drawbacks, which can be addressed with recent research results. Examples of car and catastrophic insurance products will be used to illustrate the results.
Session
Date and Time
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Language of Oral Presentation
English
Language of Visual Aids
English