Table of Contents - Euromoney Institutional Investor PLC
Table of Contents - Euromoney Institutional Investor PLC
Table of Contents - Euromoney Institutional Investor PLC
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CONTENTSChapter 12: Asset/liability management <strong>of</strong> credit unions 162Ralph E. ReardonIntroduction 162Assessment methodology 162Evaluation <strong>of</strong> the ALM model and assumptions 165Core share valuation methodology 166Quantification <strong>of</strong> interest rate risk to capital 167Major assumptions 173Conclusion 174Part V: Asset/liability management <strong>of</strong> insurance companies 175Chapter 13: Creditworthiness and asset/liability management <strong>of</strong>insurance companies: a rating agency perspective 177Robert Riegel and Joel LevineIntroduction 177Rating methodology 177Qualitative factors 179Quantitative analysis 182Ratio analysis cannot capture all forms <strong>of</strong> financial risk 196Blending qualitative and quantitative factors 196Conclusions 197Chapter 14: Asset/liability management for life insurers:lessons learned and future directions 198Anson J. Glacy, Jr and Andres E. VilmsIntroduction 198Life insurance product types 198Life insurance investment practices 200Financial reporting considerations 201Historic metrics and methods 202The events <strong>of</strong> 2002 and their aftermath 207Future directions 208Conclusion 213Chapter 15: Portfolio benchmarks for property-casualty insurers:an asset/liability application 214James E. BachmanIntroduction 214The P&C industry and its common fixed-income benchmark 215ALM as a benchmark development tool 219Impacts <strong>of</strong> equities, changing underwriting results, and leverage 223P&C segment-specific customized benchmarks 226Summary 229viiiAsset/Liability Management <strong>of</strong> Financial Institutions: Maximizing Shareholder Value through Risk-Conscious Investing – <strong>Contents</strong>www.euromoneybooks.com© <strong>Euromoney</strong> <strong>Institutional</strong> <strong>Investor</strong> <strong>PLC</strong>