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Risk Management for Insurers, Second Edition

By René Doff


The insurance industry is facing turbulent times and risk management is at the top of the agenda. This is particularly the case in Europe, where the introduction of Solvency II will drastically redesign the supervisory rules for regulatory capital for insurance companies.

This fully updated user-friendly second edition will quickly help you get to grips with risk management terms and techniques, and how they relate specifically to the insurance industry. It also demonstrates how Solvency II is already shaping the regulatory agenda and its likely impact on the insurance industry.

Publish date: 17 Oct 2011

Availability: In stock

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Risk Management for Insurers, Second Edition
eBook - Risk Management for Insurers, Second Edition

Book description

All over the globe insurers are facing the impact of the turmoil on the financial markets, making it more crucial than ever to fully understand how to implement risk management best practice.

In this timely second edition, industry expert René Doff argues that Solvency II, which aims to improve standards of risk assessment, should be regarded as an opportunity. Solvency II will provide incentives for insurance companies to improve their risk management systems and will allow you to benefit from the risk management efforts in the context of supervision.

Risk Management for Insurers: Second Edition is a fully updated accessible reference for the whole insurance industry that newly includes:

  • An up-to-date overview of Solvency II ;
  • How the financial crisis affected the insurance industry;
  • A comparison between banking and insurance supervision; and
  • The impact of Basel II and III on the banking industry and economic system.

Seven major risk types will also be covered:

  • Market risk, including interest rate and equity risk
  • Credit risk
  • Liquidity risk
  • Non-life risk
  • Life risk
  • Operational risk
  • Business risk

The main benefit of Risk Management for Insurers is that it emphasises the practical risk management concepts, rather than technical calculations and detailed theory, making it easier for a layman to understand. What's more, all concepts and terms are applied to clear illustrative examples and the regulation and supervision developments are simple to follow.

As it is becoming increasingly important to interpret and incorporate the economic capital outcomes of all the risk models discussed, the book also focuses on the terminology and methods for calculating economic capital and fair value.

The book is recommended for risk managers, actuaries, controllers, accountants, auditors, corporate finance managers, underwriting and reinsurance managers, investment managers, equity analysts and financial consultants.

Book details

Book 9781906348618 / EBook 9781908823960
Publish date
17 Oct 2011
155mm x 235mm

Author biography

René Doff

René Doff works as an Independent Trainer and Consultant at C-suite level since April 2014. He is an ERM and Solvency II specialist and has been a risk manager throughout his career. Previously, he served as Head of Risk and Controlling Department at Oranta, part of the Achmea insurance group. Before that, he worked amongst others as Risk manager at Achmea International. He started his career in banking, working for one of the leading European banks on Basel II and risk capital implementation. Moving on to insurance, he worked for Achmea, one of the larger European insurance companies based in the Netherlands. He was involved in risk management, Solvency II implementation and other financial matters. René set up and chaired the Dutch Solvency II working group and also worked for the European Insurance Federation.

René earned his PhD in 2006 on risk management for insurers. He is a regular speaker on international conferences. René publishes regularly in academic and practitioners' journals and has written a number of books. Most of his books are considered standard works on risk management and receive very positive reviews by readers across the globe. This holds for his early works (2004) as well as the latest "Risk Management for Insurers" (2011). René provides regular ERM training programs in Asia as well as Europe. René also teaches Risk Management at the University of Amsterdam and has excellent teaching skills that are very much appreciated by his students in both Europe and Asia.

Table of contents

About the Author vii

Preface ix


The Insurer as a Financial Institution

Underwriting Risks: Life Risk and Non-Life Risk

Investment Risks: Market, Credit and Liquidity Risk

Non-financial Risks: Operational and Business Risk

The Global Financial Crisis

Insurance Regulation and Supervision

Solvency II

Banking Supervision: Basel I, II and III

Management Control

Organising Risk Management


Selected Bibliography


Praise for the First Edition:

″I can heartily recommend that you read this book.″
Jos Streppel, Chief Financial Officer Aegon Group,
Chairman of CEA's ECOFIN Committee,
Former chairman of CFO Forum

″I have finally found a document that I can use to explain to non-actuaries and non-technical people what it is all about.″
Sabijn Timmers, Chief Risk Officer, DBV Insurance

″A must-have for those that are involved in risk management and supervision.″
Michaela Koller, Director General of CEA, the European Insurance and Reinsurance Federation

″A nice overview for anyone who is new to Risk-Based Capital or Solvency II.″
Glyn Holton, Contingency Analysis

Customer Reviews

Average customer reviews for Risk Management for Insurers, Second Edition

Excellent Risk Overview

Very clear concise and to the point. The author covers all the main areas of insurance company risk from a top-down perspective illuminating the key aspect of each risk and how they combine at the company level.

This must be one of the few financial books that I've read cover to cover - twice! Should be required reading for all insurance company board members - and those who aspire to be there.
Review by Keith , 01/03/2012

Excellent Overview

Very clear and concise overview of all the major aspects of insurance risk. Very readable (not often I say that about a finance book!) summary without any cluttering equations etc. Worth a read by anyone working in or with an insurance company on risk management issues.

p.s. I've actually only got the first edition but assume the second isn't too different!
Review by Keith Ruxton , 21/02/2012

Good Book

Very interesting, and up to date risk book. well worth the 125 paid.
Review by Olivia Bezzina , 30/01/2012

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