Un changement de paradigme pour l’assurance

Michel Dacorogna

Revue d'économie financière, 2015, vol. n° 118, issue 2, 205-230

Abstract: In this paper, we review the changes in the insurance industry involved by the implementation of the new risk based regulation like Solvency 2 and SST. The move from managing the companies through their cash-flows to managing them through their risks is described and discussed through capital management, economic valuation and the internal model. The Enterprise Risk Management (ERM) is explained along with its implication for the company organization and the role of actuaries in insurances. We point out the limitations and difficulties of this approach. The risk/return relation is becoming a central element of the company management and is taking over the traditional P&L vision. Classification JEL: G22, G28, L21.

JEL-codes: G22 G28 L21 (search for similar items in EconPapers)
Date: 2015
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