This graduate course teaches students the principles of risk management in insurance companies. Requirements from Solvency II for European insurance companies are reviewed. Based on these minimum requirements the process of determining economic capital is taught. The students understand what kinds of risks are present in various insurance classes and how to manage those risks using state-of –art techniques. Especially, Value-at-Risk methods are applied to estimate the possible financial effect of risks. Various internal and external reporting requirements are summarized.
Contents
-What is risk management -How to organize risk management function -Concept of risk -Economic capital -Value at Risk – framework -Credit and market risk -Insurance related risks
Teaching language
English
Modes of study
Option
1
Available for:
Degree Programme Students
Other Students
Open University Students
Doctoral Students
Exchange Students
Written ExamWritten exam
In
Finnish
Written exam.
It is possible, that also lectures will be organized in some academic year 2015-2018.
Evaluation
Numeric 1-5.
Study materials
1. Hull, J.: Risk Management and Financial Institutions. 4.painos. 2015 or newer.
2. De Weert, F: Bank and Insurance Capital Management. 2011 or newer.
3. Zweifel, P. - Eisen, R.: Insurance Economics. Springer 2012 or newer.
4. Other assigned material (if lectures will be organized).
Further information
Electronic exam within the academic year in a given periods.
It is possible, that lectures will be organized in some academic year 2015-2018. See Teaching Schedules for more details.