Assessing the impact of solvency assessment and management on risk management in South African insurance companies

Show simple item record

dc.contributor michelle.reyers@up.ac.za en_ZA
dc.contributor.author Jansen van Vuuren, Liesel
dc.contributor.author Reyers, Michelle
dc.contributor.author Van Schalkwyk, Henco
dc.date.accessioned 2017-05-03T09:12:55Z
dc.date.available 2017-05-03T09:12:55Z
dc.date.issued 2017
dc.description.abstract The study investigates how regulatory changes infl uence the role of risk management in insurance companies, more specifi cally the impact which Pillar II of Solvency Assessment and Management (SAM) may have on risk management in a South African insurance company. Furthermore, the study evaluates the current self-assessed readiness of insurers for future SAM risk management requirements. A quantitative secondary data analysis approach was applied to the SAM Pillar II Readiness Survey, which the Financial Services Board conducted in 2012 as part of the process to prepare insurance companies for SAM. The results of the survey, which was mandatory for all registered South African insurance companies (life and non-life insurers), indicated that four areas are associated with insurers’ self-assessments in terms of readiness for the SAM requirements: having a risk management system in place, documenting the risk management strategy, having an explicit assetliability management policy and having a risk transfer policy. Furthermore, the results indicate a gap between effective risk management practices as described in the literature and those which insurers associated with being ready for the SAM requirements. Raising insurer awareness of these gaps will help strengthen the local risk management system. en_ZA
dc.description.uri http://www.unisa.ac.za/default.asp?Cmd=ViewContent&ContentID=22335 en_ZA
dc.identifier.citation Jansen van Vuuren, L., Reyers, M., & van Schalkwyk, C.H. (2017). Assessing the impact of Solvency Assessment and Management on risk management in South African insurance companies. Southern African Business Review, 21, 129-149. en_ZA
dc.identifier.issn 1561-896X (print)
dc.identifier.issn 1998-8125 (online)
dc.identifier.uri http://hdl.handle.net/2263/60176
dc.language.iso en en_ZA
dc.publisher Unisa Press en_ZA
dc.rights © Copyright. Southern African Business Review, College of Economic and Management Sciences, University of South Africa. en_ZA
dc.subject Enterprise-wide risk management en_ZA
dc.subject Insurance regulation en_ZA
dc.subject Risk-based supervision framework en_ZA
dc.subject Risk management en_ZA
dc.subject Solvency assessment and management (SAM) en_ZA
dc.title Assessing the impact of solvency assessment and management on risk management in South African insurance companies en_ZA
dc.type Article en_ZA


Files in this item

This item appears in the following Collection(s)

Show simple item record