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  • 1
    Online Resource
    Online Resource
    Insurers : Too Many, Too Few, Or "Just Right"? (2008)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV040619182
    Format: 1 Online-Ressource (1 online resource (25 p.))
    Edition: Online-Ausgabe World Bank E-Library Archive Sonstige Standardnummer des Gesamttitels: 041181-4
    Content: In many markets, industry and policymakers agree that there may be too many insurers. In others, the consensus is that there could be benefit from more competition. But this broad consensus is often supported by evidence that is more qualitative, anecdotal, or judgmental despite being unanimous. What is less clear, however, is how far consolidation or liberalization will go, how fast, and when it will end. This paper presents some initial observations from a cross-country data set and proposes that individual country results can be interpreted against this data set to inform expectations regarding trends in competition, concentration and consolidation, to inform analysis of the sector, for individual firm strategic planning and wider market risk assessments. A "natural level" for measures is suggested as a starting hypothesis. Further consideration is then made of the role of absolute market size, stage of market development, and differentials between life and non life segments. Analysis of the natural level, adjusted for market conditions, can then be used to develop preliminary views on current and expected market dynamics, strategic planning, and to inform policy, regulatory and supervisory priorities
    Note: Weitere Ausgabe: Thorburn, Craig : Insurers
    Additional Edition: Reproduktion von Thorburn, Craig Insurers 2008
    Language: English
    URL: Volltext
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    FU Berlin
    HWR Berlin
    EUV Frankfurt
    TH Brandenburg
    HTW Berlin
  • 2
    Online Resource
    Online Resource
    The Market For Retirement Products In Australia (2008)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV040619353
    Format: 1 Online-Ressource (1 online resource (52 p.))
    Edition: Online-Ausgabe World Bank E-Library Archive Sonstige Standardnummer des Gesamttitels: 041181-4
    Content: Australia introduced a mandatory retirement savings scheme in 1992. This built on pre-existing voluntary occupational plans. The new scheme has been very successful in expanding coverage and mobilizing large financial savings that are equal to close to 100 percent of GDP. However, Australia does not impose restrictions on payout options. The payout phase used to be dominated by lump sum withdrawals, which accounted for 80 percent of benefit payments as recently as 2002. But pension payments increased in recent years and now represent 45 percent of total payments. The vast majority of these pension payments take the form of term annuities and allocated annuities. The latter are similar to phased withdrawals in Chile but run for fixed terms of up to 25 years rather than for lifetime terms. The demand for life annuities and lifetime phased withdrawals is very limited. The paper discusses the factors that have shaped the pattern of demand for retirement products, including the availability of the universal age pension and the effect of clawback provisions, the impact of the high level of home ownership, and the widespread preference of retiring workers for reliance on self-annuitization. The paper also reviews the prudential regulation of superannuation funds and life insurance companies
    Additional Edition: Reproduktion von Brunner, Gregory Gordon The Market For Retirement Products In Australia 2008
    Language: English
    URL: Volltext
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    FU Berlin
    HWR Berlin
    EUV Frankfurt
    TH Brandenburg
    HTW Berlin
  • 3
    Online Resource
    Online Resource
    An analysis of money's worth ratios in Chile (2006)
    [Washington, D.C] : World Bank
    Details
    UID:
    b3kat_BV040618531
    Format: 1 Online-Ressource
    Edition: Online-Ausgabe World Bank E-Library Archive Sonstige Standardnummer des Gesamttitels: 041181-4
    Edition: Also available in print.
    Series Statement: Policy research working paper 3926
    Content: "Empirical analyses of annuities markets have been limited to a few industrial countries and restricted by data limitations. Chile provides excellent conditions for research on annuities because of the depth of its market and the availability of data. The authors use an extensive dataset on individual annuities to examine econometrically a measure of market performance-money's worth ratios (MWRs)-or the ratio of the expected present value of annuity payments to the premium. The results show that annuitants in Chile have generally a good deal for their premiums, as indicated by MWRs higher than one, and also higher than those estimated for other countries. The difference between Chile and other countries is striking considering that annuities in Chile are indexed to prices. The wide range of indexed instruments in Chile, allowing providers to hedge their risks while extracting higher returns, helps explain the difference. The high degree of market competition has also contributed to this outcome. Efforts to improve market transparency through a new electronic quotation system have decreased the dispersion of MWRs. Finally, MWRs tend to decrease for contracts with longer durations, reflecting pricing for higher longevity and reinvestment risks. These results are consistent with separate research on the annuity rate, and indicate the need to ensure competition and market transparency, as well as to develop appropriate financial instruments for providers to ensure good outcomes for annuitants. "--World Bank web site
    Note: Includes bibliographical references. - Title from PDF file as viewed on 9/1/2006 , Erscheinungsjahr in Vorlageform:[2006] , Weitere Ausgabe: Thorburn, Craig: An analysis of money's worth ratios in Chile
    Additional Edition: Reproduktion von Thorburn, Craig An analysis of money's worth ratios in Chile 2006
    Language: English
    URL: Volltext
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    HWR Berlin
    EUV Frankfurt
    TH Brandenburg
    HTW Berlin
  • 4
    Online Resource
    Online Resource
    On the measurement of solvency of insurance companies : recent developments that will alter methods adopted in emerging markets (2004)
    Washington, D.C : World Bank
    Details
    UID:
    b3kat_BV040617831
    Format: 1 Online-Ressource
    Edition: Online-Ausgabe World Bank E-Library Archive Sonstige Standardnummer des Gesamttitels: 041181-4
    Edition: Also available in print.
    Series Statement: Policy research working paper 3199
    Note: "January 23, 2004. - Includes bibliographical references. - Title from title screen as viewed on January 27, 2004 , Erscheinungsjahr in Vorlageform:[2004] , Weitere Ausgabe: Thorburn, Craig : On the measurement of solvency of insurance companies
    Additional Edition: Reproduktion von Thorburn, Craig On the measurement of solvency of insurance companies 2004
    Language: English
    URL: Volltext
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    HWR Berlin
    EUV Frankfurt
    TH Brandenburg
    HTW Berlin
  • 5
    Online Resource
    Online Resource
    Developing annuities markets : the experience of Chile (2007)
    Washington, D.C : World Bank
    Details
    UID:
    b3kat_BV040615760
    Format: 1 Online-Ressource (xxxiii, 251 p) , ill , 23 cm
    Edition: Online-Ausgabe World Bank E-Library Archive Sonstige Standardnummer des Gesamttitels: 041181-4
    ISBN: 0821366661 , 9780821366660
    Series Statement: Directions in development. Finance
    Note: Includes bibliographical references (p. 237-244) and index , Erscheinungsjahr in Vorlageform:c2007
    Additional Edition: Reproduktion von Rocha, Roberto Rezende Developing annuities markets 2007
    Language: English
    URL: Volltext
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    HWR Berlin
    EUV Frankfurt
    TH Brandenburg
    HTW Berlin
  • 6
    Online Resource
    Online Resource
    Insurers : Too Many, Too Few, Or "Just Right"? (2008)
    Washington, D.C : The World Bank
    Details
    UID:
    gbv_72422906X
    Format: Online-Ressource (1 online resource (25 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Content: In many markets, industry and policymakers agree that there may be too many insurers. In others, the consensus is that there could be benefit from more competition. But this broad consensus is often supported by evidence that is more qualitative, anecdotal, or judgmental despite being unanimous. What is less clear, however, is how far consolidation or liberalization will go, how fast, and when it will end. This paper presents some initial observations from a cross-country data set and proposes that individual country results can be interpreted against this data set to inform expectations regarding trends in competition, concentration and consolidation, to inform analysis of the sector, for individual firm strategic planning and wider market risk assessments. A "natural level" for measures is suggested as a starting hypothesis. Further consideration is then made of the role of absolute market size, stage of market development, and differentials between life and non life segments. Analysis of the natural level, adjusted for market conditions, can then be used to develop preliminary views on current and expected market dynamics, strategic planning, and to inform policy, regulatory and supervisory priorities
    Additional Edition: Thorburn, Craig Insurers
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Stabi Berlin
    UB Potsdam
    MPI Bildungsforschung
  • 7
    Online Resource
    Online Resource
    Developing annuities markets : the experience of Chile (2007)
    Washington, D.C : World Bank
    Details
    UID:
    gbv_72418290X
    Format: Online-Ressource (xxxiii, 251 p) , ill , 23 cm
    Edition: Online-Ausg. World Bank E-Library Archive
    ISBN: 0821366661 , 9780821366660
    Series Statement: Directions in development. Finance
    Note: Includes bibliographical references (p. 237-244) and index
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Stabi Berlin
    UB Potsdam
    MPI Bildungsforschung
  • 8
    Online Resource
    Online Resource
    On the measurement of solvency of insurance companies : recent developments that will alter methods adopted in emerging markets (2004)
    Washington, D.C : World Bank
    Details
    UID:
    gbv_724210776
    Format: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 3199
    Note: "January 23, 2004 , Includes bibliographical references , Title from title screen as viewed on January 27, 2004 , Also available in print.
    Additional Edition: Thorburn, Craig On the measurement of solvency of insurance companies
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Stabi Berlin
    UB Potsdam
    MPI Bildungsforschung
  • 9
    Online Resource
    Online Resource
    An analysis of money's worth ratios in Chile (2006)
    [Washington, D.C] : World Bank
    Details
    UID:
    gbv_724220402
    Format: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 3926
    Content: "Empirical analyses of annuities markets have been limited to a few industrial countries and restricted by data limitations. Chile provides excellent conditions for research on annuities because of the depth of its market and the availability of data. The authors use an extensive dataset on individual annuities to examine econometrically a measure of market performance-money's worth ratios (MWRs)-or the ratio of the expected present value of annuity payments to the premium. The results show that annuitants in Chile have generally a good deal for their premiums, as indicated by MWRs higher than one, and also higher than those estimated for other countries. The difference between Chile and other countries is striking considering that annuities in Chile are indexed to prices. The wide range of indexed instruments in Chile, allowing providers to hedge their risks while extracting higher returns, helps explain the difference. The high degree of market competition has also contributed to this outcome. Efforts to improve market transparency through a new electronic quotation system have decreased the dispersion of MWRs. Finally, MWRs tend to decrease for contracts with longer durations, reflecting pricing for higher longevity and reinvestment risks. These results are consistent with separate research on the annuity rate, and indicate the need to ensure competition and market transparency, as well as to develop appropriate financial instruments for providers to ensure good outcomes for annuitants. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 9/1/2006 , Also available in print.
    Additional Edition: Thorburn, Craig An analysis of money's worth ratios in Chile
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Stabi Berlin
    UB Potsdam
    MPI Bildungsforschung
  • 10
    Online Resource
    Online Resource
    The Market For Retirement Products In Australia (2008)
    Washington, D.C : The World Bank
    Details
    UID:
    gbv_724230939
    Format: Online-Ressource (1 online resource (52 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Content: Australia introduced a mandatory retirement savings scheme in 1992. This built on pre-existing voluntary occupational plans. The new scheme has been very successful in expanding coverage and mobilizing large financial savings that are equal to close to 100 percent of GDP. However, Australia does not impose restrictions on payout options. The payout phase used to be dominated by lump sum withdrawals, which accounted for 80 percent of benefit payments as recently as 2002. But pension payments increased in recent years and now represent 45 percent of total payments. The vast majority of these pension payments take the form of term annuities and allocated annuities. The latter are similar to phased withdrawals in Chile but run for fixed terms of up to 25 years rather than for lifetime terms. The demand for life annuities and lifetime phased withdrawals is very limited. The paper discusses the factors that have shaped the pattern of demand for retirement products, including the availability of the universal age pension and the effect of clawback provisions, the impact of the high level of home ownership, and the widespread preference of retiring workers for reliance on self-annuitization. The paper also reviews the prudential regulation of superannuation funds and life insurance companies
    Additional Edition: Brunner, Gregory Gordon The Market For Retirement Products In Australia
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Stabi Berlin
    UB Potsdam
    MPI Bildungsforschung
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