Syllabus
1. Financial statements of insurance companies.
Balance sheet according to Czech accounting standards, Solvency 2 and IFRS. 2. Assets of insurance companies.
Financial assets measured at fair value and at amortized cost. 3. Technical provisions of insurance companies.
Valuation of insurance liabilities according to Solvency 2 and IFRS17. Methods of risk margin calculation: quantile methods, cost of capital method.
Principles of capital allocation. Allocation of risk margin to portfolio segments. 4.
Solvency capital requirement. Economic capital.
Aggregation of risks by sum, aggregation by a correlation matrix. 5. Standard formula of Solvency 2, risk modules and submodules.
Capital requirements for underwriting risks.
Annotation
Financial statements of insurance companies according to Czech accounting standards, Solvency 2 and IFRS.
Measurement of financial assets. Market-consistent valuation of insurance liabilities. Risk margin. Solvency capital requirement. Standard formula of Solvency 2. Risk aggregation. Capital allocation.