Hostname: page-component-cd9895bd7-lnqnp Total loading time: 0 Render date: 2024-12-23T08:41:53.587Z Has data issue: false hasContentIssue false
  • English
  • Français

The Joint Development of Insurance and Investment Markets in Poland: An Analysis of Actuarial Risks

Published online by Cambridge University Press:  10 June 2011

P.M. Booth  and
K.J. Stroinski
P.M. Booth
Affiliation:
City University Business School, Parxes Building, Northampton Square, London, EC1V 0HB, U.K. Tel: +44 (0)20 7477 8204; Fax: +44 (0)20 7477 8573; E-mail: [email protected]
Get access Rights & Permissions [Opens in a new window]

Abstract

The development of the Polish insurance market in the period since liberalisation is discussed. The nature of the investment market and the investment risk faced by insurers are analysed in the context of the liability structure of Polish insurance companies. The likely future developments in insurance and investment markets are outlined, particularly given the structure of the state social insurance system, possible reforms of which are discussed in detail.

Keywords

PolandInsuranceInvestment
Type
Sessional meetings: papers and abstracts of discussions
Information
British Actuarial Journal , Volume 2 , Issue 3 , 01 August 1996 , pp. 741 - 763
Copyright
Copyright © Institute and Faculty of Actuaries 1996

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

REFERENCES

Adams, A.T. (1989). Investment. Graham and Trotman, London.Google Scholar
Arthur, T.G. & Randall, P.A. (1990) Actuaries, pension funds and investment. J.I.A. 117, 1.Google Scholar
BIULETYN STATYSTYCZNY 1990–95 (1990–1995). GUS, Warsaw (Main Statistical Office).Google Scholar
Booth, P.M. & Stroinski, K. (1994b). The development of competition and privatisation of insurance institutions in Poland: lessons for the actuarial profession and regulators. Communist Economies & Economic Transformation, 6, No. 3, 383.CrossRefGoogle Scholar
Booth, P.M. & Stroinski, K. (1994b). The insurance and investment markets in Poland. Actuarial Research Paper No. 67. City University, London.Google Scholar
Brown, R.L. (1991). Economic security in an ageing population. Butterworths, Toronto.Google Scholar
CEDULA (1994). Gielda Papierów Wartosciowych.Google Scholar
Daykin, C.D. (1993). New challenges for the general insurance actuary in Central and Eastern Europe. Papers of the XXIVASTIN Colloquium, Cambridge, 2, 279.Google Scholar
Daykin, C.D., Pentikäinen, T. & Pesonen, M. (1994). Practical risk theory for actuaries. Chapman & Hall, London.Google Scholar
Ferguson, D.G.R., Croucher, P.E., Franklin, N.A.M., Henty, J.M., Parmee, D.S., Saunders, A. & Shaw, G.J.M. (1989). A single European market for actuaries. J.I.A. 116, 453.Google Scholar
Frost, A.J. & Hager, D.P. (1986). A general introduction to institutional investment. Heinemann, London.Google Scholar
Hayek, F.A. (1941). A pure theory of capital. University of Chicago Press, Chicago.Google Scholar
Holmes, G. & Sudgen, A. (1990). Interpreting company reports and accounts. 4th ed.Woodhead Faulkner, Cambridge.Google Scholar
Holzmann, R. (1995). Pension reform, financial market development and endogenous growth: preliminary evidence from Chile? International Monetary Fund, Seminar Series.CrossRefGoogle Scholar
Lange, O. & Taylor, F.M. (1938). On the economic theory of socialism. University of Minnesota Press, U.S.A.Google Scholar
KWARTALNIK ZUS (1996). Zaklad Statystyki, Prognoz i Analiz.Google Scholar
NOWA EUROPA (1994). Warsaw.Google Scholar
Pau, S. (1994). A study of the technical efficiency of the Polish Stock Market. M.Sc.Thesis, City University, London.Google Scholar
Prins, C.J. & Strzalkowska, D. (1994). Stock Exchanges in Eastern Europe: Warsaw is not Budapest. Proceedings of the 4th AFIR Colloquium, 3, 1503.Google Scholar
Rogers, P.P. (1988). Insurance in Socialist Eastern Europe. Praeger, New York.Google Scholar
RZECZPOSPOLITA (1994). nr 126 (3775), 1994 Warsaw.Google Scholar
RZECZPOSPOLITA (1995). nr 116 (4069), 1995 Warsaw.Google Scholar
Schwartz, G.et al. (1994). Beyond stabilisation: the economic transformation of Czechoslovakia, Hungary and Poland. Communist Economies and Economic Transformation, 6, No 3, 291.CrossRefGoogle Scholar
SIGMA (1994). Swiss Reinsurance Company, Economic Studies No. 1/94.Google Scholar
Stroinski, E. & Stroinski, K. (1994). The impact of limited investment choices on life insurance companies in Poland. Proceedings of the 4th AFIR Colloquium, 3, 1519.Google Scholar
Stroinski, K. (1992). Poland: renaissance of the actuarial profession. Transaction of the International Congress of Actuaries, 5, 252.Google Scholar
THE ECONOMIST (1994). Volume 333, No. 7886. The Economist, London.Google Scholar
UBEZPIECZENIA 1992–94 (1993–1995). Polska Izba Ubezpiecze? (Polish Chamber of Insurance).Google Scholar
USTAWA Z DNIA 28 LIPCA 1990 O DZIALALNOSCI UBEZPIECZENIOWEJ (1990). Dz.U. 1996 Nr 11, poz. 62, (Insurance Act 1990 with modifications).Google Scholar
USTAWA Z DNIA 23 KWIETNIA 1964 (1964). Kodeks Cywilny, Dz.U. nr 16, poz. 93 z pózniej-szymi zmianami, wyciag (Civil Code of Law with modifications).Google Scholar
Warsaw Stock Exchange (1995). Information leaflet.Google Scholar
Wilkie, A.D. (1984). On the calculation of real investment returns. J.I.A. 111, 149.Google Scholar
Wllkie, A.D. (1986). The economic basis of interest rates. J.I.A. 113, 273.Google Scholar
ZARZADZENIE MINISTRA FINANSÉW Z DNIA 18 GRUDNIA 1990 (1990). M.P. Nr 49, poz. 379. (Regulation of the Minister of Finance).Google Scholar