The impact od Solvency II on life insurance

U ovom diplomskom radu analizira se utjecaj Solvency II na životno osiguranje. Solvency II je novi zakonodavni i regulatorni okvir ukupnoga poslovanja društva za osiguranje i reosiguranje u Europskoj uniji koji postavlja nova, čvršća pravila i zahtjeve za kapitalnom adekvatnošću i procesom upravljanja rizicima društava s ciljem zaštite osiguranika i korisnika osiguranja te sprečavanja poremećaja na tržištu osiguranja. Pritom je naglasak stavljen na ključne regulatorne zahtjeve koji uključuju određivanje vlastitih sredstava, izračun tehničkih pričuva, vrednovanje imovine i obveza te izračun potrebnog solventnog kapitala i minimalnog potrebnog kapitala. Kako bi se analizirao utjecaj različitih odredbi Solvency II regulative na životno osiguranje koristili su se rezultati Studija kvantitativnih utjecaja. I na kraju, prikazan je utjecaj nove regulative na izračun potrebnog solventnog kapitala i vrednovanje tehničkih pričuva. Dosadašnji tradicionalni pristup vrednovanja imovine i obveza pokazao se nepotpunim budući da u sebi ne sadrži tržišnu komponentu. Solvency II direktiva ima veliku važnost u segmentu životnih osiguranja s obzirom da se putem nje uvodi tržišno vrednovanje imovine i obveza temeljeno na ukupnom pristupu cjelokupnim bilančnim položajima.This thesis analyzes the influence of Solvency II on life insurance. Solvency II is a new legislative and regulatory framework of every aspect of business of insurance and reinsurance companies in the European Union that sets new, firmer rules and requirements for capital adequacy and risk management processes of companies in order to protect policyholders and insurance beneficiaries and to avoid disturbances in the insurance market. The emphasis is put on ley regulatory requirements which include the determination of own funds, calculation of technical provosions, valuation of assets and liabilities and the calculation of the Solvency Capital Requirement and Minimum Capital Requirement. In order to analyze the influence of different provisions of Solvency II regulation on life insurance, the results of the Quantitive Impact Study were used. Finally, the impact of new regulation on the calculation of required solvent capital is depicted. The traditional approach to the valuation of assets and liabilities used up until now proved to be incomplete since it doesn’t contain a market component. Solvency II Directive is of great importance in the life insurance segment because its introducing a market valuation of assets and liabilities based on the overall approach to the entire balance sheet position