QIS2 highlights need for interest rate risk management


Calculating solvency for the first time using market-consistent principles, German life insurers could show an improvement in their solvency positions under Solvency II, according to the results of the second quantitative impact study (QIS2) published by the German insurance association (GDV). The effect is due to the crediting of 'hidden reserves' in the technical provisions. However, the GDV is concerned that these reserves are particularly exposed to interest rate volatility, and calls on

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