Wybrane aspekty wyceny aktywów i pasywów zakładów ubezpieczeń i zakładów reasekuracji dla potrzeb bilansowych oraz oceny wypłacalności
Selected aspects of measuring the assets and liabilities of insurance companies and reinsurance companies for the balance sheet and solvency assessment purposes

Summary/Abstract: Measurement of assets and liabilities provides a general picture of a company's financial standing. However, for the picture to be credible, the valuation should be based on certain principles. In respect of insurance companies and reinsurance companies, this aspect is regulated not only in the balance sheet law but also in solvency assessment regulations. Nevertheless, the status of work on Solvency II shows that there will be no consistency between the asset and liability measurement rules in the balance sheet law and in the sol- vency legislation, despite the provision that measurement for supervisory purposes should be as close as possible to international accounting regulations in order to limit administrative expenses incurred by insurance and reinsurance companies. The measurement performed for the balance sheet purposes is based on the fair value and historical cost, whereas the measurement for solvency purposes under the Solvency II requirements will be based on the economic value. The existing discrepancies in legal regulations as well as the manner of measurement, as a valuation process, are a significant problem to insurance and reinsurance companies.

• Details
• Contents