Risk Management in Insurance

Brief description

Responsibilities, goals, areas and organization of risk management in an insurance company; regulatory framework for risk management in insurances with particular focus on Solvency II; risk measurement in the life and non-life sectors; risk measurement with regard to market risks; risk-oriented management of an insurance business; Solvency II with regard to regulatory authorities and disclosure requirements

Mode of delivery

face to face

Type

compulsory

Recommended or required reading and other learning resources/tools

Compulsory reading
Slides and exercise examples
Consolidation reading:
Neil A. Doherty (2000): Integrated Risk Management: Techniques and Strategies for Corporate Risk, McGraw Hill, New York, 1st edition; Thomas Hartung (2007): Eigenkapitalregulierung

Planned learning activities and teaching methods

Integrated class; Lectures and independent work on practical examples

Assessment methods and criteria

30% exercises and class work and 70% written final examination

Prerequisites and co-requisites

Fixed Income, Financial Mathematics, Introduction to Insurance Management, Insurance Products

Infos

Degree programme

Banking and Finance (Bachelor)

Cycle

Bachelor

ECTS Credits

3.00

Language of instruction

German

Curriculum

Full-Time

Academic year

2025

Semester

5 WS

Incoming

No

Learning outcome

After the successful completion of this course the students will be able to describe the responsibilities of risk management in insurances. The students will be able to explain important methods for the quantification and management of various risks relevant for insurance companies, also with regard to regulatory requirements. They will be able to implement the most important regulations within the standard approach of Solvency II and to assess potential consequences for various divisions in an insurance company. Besides, they will be able to name the regulatory authorities determined within the framework of Solvency II and thus draw conclusions for the management of insurance businesses.

Course code

0229-19-01-VZ-DE-37