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B028053 - PENSIONS, SOLVENCY AND FINANCIAL REPORTING
Main information
Teaching Language
Course Content
Suggested readings
Learning Objectives
Prerequisites
Teaching Methods
Further information
Type of Assessment
Course program
Sustainable Development Goals 2030
Academic Year 2021-22
Coorte 2020 - Second Cycle Degree in FINANCE AND RISK MANAGEMENT
Course year
Second year - First Semester
Belonging Department
Economics and Management (DISEI)
Course Type
Single education field course
Scientific Area
SECS-S/06 - MATHEMATICAL METHODS OF ECONOMICS, FINANCE AND ACTUARIAL SCIENCES
Credits
12
Teaching Hours
96
Teaching Term
13/09/2021 ⇒ 07/12/2021
Attendance required
No
Type of Evaluation
Final Grade
Course Content
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Course program
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Lectureship
Teaching Language
The course will be taught in English. There may be teaching materials in other European languages.
Course Content
The course will introduce the students to the definition, the measurement and the management of insurance risk with pension schemes and motor car insurance. A specific module covers the Solvency II regulations.
Suggested readings (Search our library's catalogue)
A. Olivieri, E. Pitacco "Introduction to Insurance Mathematics" Springer Ed., 2010.
C.D. Daykin, T. Pentikainen, M. Pesonem "Practical Risk Theory for Actuaries", Chapman & Hall, 1994.
C.D. Daykin, T. Pentikainen, M. Pesonem "Practical Risk Theory for Actuaries", Chapman & Hall, 1994.
Learning Objectives
The course will introduce the students to the definition, the measurement and the management of different types of life and non-life policies and to the measurement of the reserves.
Prerequisites
Preliminary skills:
- QUANTITATIVE RISK MANAGEMENT
- COMPUTATIONAL FINANCE
- QUANTITATIVE FINANCE AND DERIVATIVES
- INSURANCE AND RISK MODELS
- QUANTITATIVE RISK MANAGEMENT
- COMPUTATIONAL FINANCE
- QUANTITATIVE FINANCE AND DERIVATIVES
- INSURANCE AND RISK MODELS
Teaching Methods
The course includes lecture lessons, classroom activities and laboratory activities. The students will be assigned group work. Seminars are also provided.
Lecture lessons: total 72 hours.
Laboratory activity: total 20 hours.
Seminars: Total 4 hours.
Lecture lessons: total 72 hours.
Laboratory activity: total 20 hours.
Seminars: Total 4 hours.
Further information
Students acquire specific skills on insurance risk analysis that have been particularly appreciated by key economic operators in recent years facilitating their placement after the degree.
Type of Assessment
Written and oral test.
These tests are aimed at verifying: 1) the knowledge acquired regarding the concepts, models and tools that were the subject of the course; 2) the following skills developed by the student: ability to apply the acquired knowledge, ability to draw conclusions, communication skills and use of an appropriate language, understanding and learning skills.
The Pensions and Motor car module will be assessed via an oral test with an exercise on individual pensions scheme. The Solvency II module test consists in the computation of the risk exposure in a given economic/financial scenario and in the discussion of the results obtained.
These tests are aimed at verifying: 1) the knowledge acquired regarding the concepts, models and tools that were the subject of the course; 2) the following skills developed by the student: ability to apply the acquired knowledge, ability to draw conclusions, communication skills and use of an appropriate language, understanding and learning skills.
The Pensions and Motor car module will be assessed via an oral test with an exercise on individual pensions scheme. The Solvency II module test consists in the computation of the risk exposure in a given economic/financial scenario and in the discussion of the results obtained.
Course program
Pensions module
- The 3 pillars system
- DB and DC pensions schemes
- Managing of risk in DB pension schemes
- Role of the actuary in DB pension schemes
Motor Car
- A priori an a posteriori systems
- BMS
- The elements of a BMS
- Critique and weaknesses of a BMS
- Mixed systems
Solvency II
- What is Solvency II
- Solvency II vs Solvency I
- Regulatory Governance Structure
- Regulation
- A 3 Pillar Structure
- Pillar 1
- Pillar 2
- Pillar 3
- The 3 pillars system
- DB and DC pensions schemes
- Managing of risk in DB pension schemes
- Role of the actuary in DB pension schemes
Motor Car
- A priori an a posteriori systems
- BMS
- The elements of a BMS
- Critique and weaknesses of a BMS
- Mixed systems
Solvency II
- What is Solvency II
- Solvency II vs Solvency I
- Regulatory Governance Structure
- Regulation
- A 3 Pillar Structure
- Pillar 1
- Pillar 2
- Pillar 3