 Use of Dynamic Financial Analysis and Financial Condition Reporting by United Kingdom General InsurersY. Shiu and P. Moles Annals of Actuarial Science, 2006, vol. 1, issue 1, 79-101 Abstract: This paper presents the findings of a survey of the current Dynamic Financial Analysis (DFA)/Financial Condition Report (FCR) practices in the United Kingdom general insurance industry. An independent samples t test for non-respondent bias was conducted, and the results suggest that the respondent sample is representative of the survey population. The survey results revealed: (1) that the use of DFA techniques in the industry was limited; (2) that scenario testing was the most frequently used technique; (3) that the most common DFA application was the evaluation of reinsurance programmes; (4) that less than ten scenarios were run regularly; (5) that inflation was the most frequently modelled economic variable; (6) that the capability of asset modelling of general insurers was restricted; (7) that the most common method of liability modelling was to use all in force policies in aggregate; (8) that the most common projection periods in DFA and business planning were three years; (9) that the main reason for not using DFA techniques and producing FCR was lack of need; and (10) that views on whether a Guidance Note on FCR specifically for general insurers should be introduced differed. Date: 2006 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:cup:anacsi:v:1:y:2006:i:01:p:79-101_00 Access Statistics for this article More articles in Annals of Actuarial Science from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK. |
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