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DC Field | Value | Language |
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dc.date.accessioned | 2017-11-17T15:30:46Z | - |
dc.date.available | 2017-11-17T15:30:46Z | - |
dc.date.issued | 2017 | - |
dc.identifier.uri | https://www.um.edu.mt/library/oar//handle/123456789/23978 | - |
dc.description | B.SC.(HONS)BANK.&FIN. | en_GB |
dc.description.abstract | Purpose: The aim of this study is to critically analyse the risk regulatory requirements under Solvency II, Pillar1, in particular, accessing their adequacy for MFSA licenced firms. Specifically, the study assesses the effectiveness of the standard formula with respect to riskprofile representation, the importance deemed by firms of such capital requirements, and whether it worthwhile to develop an internal model, amongst others. Design: The study makes use of both qualitative and quantitative research. The core of the study is based on the results obtain from fifteen (15) likert-scale questions. However, descriptive feedback on each statement was recorded and noted with the results. Indeed, particular attention was given to the nature of the business of the participant in order to try to analysis certain common tendencies. Findings: From the data collected, it can be clearly understood that smaller firms, captives, and firms with specific lines of business have been misrepresented the most under this Pillar. Additionally, larger insurers felt that the standard formula misrepresented them and considered the development of an internal model/ partial model essential. Those most comfortable with the standard formula seemed to be insurers, that although small under a EU perspective, still manage to write a considerable amount of business, both in terms of premium and variety. Conclusion: Overall, the concludes that for Solvency II to be truly a representative of the firm‟s risk profile, work needs to be done for smaller firms, captives, and firms that have a specific line of business. Indeed, the adjustments and principle of proportionality were criticized for not being an efficient tool in serving smaller firms as was intended. Furthermore, the regulation was also questioned from a cost-benefit point of few. Participants were keen to point out if the aforementioned firm types should be exempted from certain parts of the directive that seem to be there for larger firms. | en_GB |
dc.language.iso | en | en_GB |
dc.rights | info:eu-repo/semantics/restrictedAccess | en_GB |
dc.subject | Insurance -- European Union countries -- Finance | en_GB |
dc.subject | Insurance law -- European Union countries | en_GB |
dc.subject | Insurance -- State supervision -- European Union countries | en_GB |
dc.title | A critical analysis of Maltese Insurance Firms Perspective of Solvency II | en_GB |
dc.type | bachelorThesis | en_GB |
dc.rights.holder | The copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder. | en_GB |
dc.publisher.institution | University of Malta | en_GB |
dc.publisher.department | Faculty of Economics, Management and Accountancy. Department of Banking and Finance | en_GB |
dc.description.reviewed | N/A | en_GB |
dc.contributor.creator | Agius, Simon | - |
Appears in Collections: | Dissertations - FacEma - 2017 Dissertations - FacEMABF - 2017 |
Files in This Item:
File | Description | Size | Format | |
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17BBNK002.pdf Restricted Access | 1.3 MB | Adobe PDF | View/Open Request a copy |
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