Risk management of insurance company according to the requirements of SOLVENCYII

Insurance risk management is a complex process that provides a comprehensive view of the individual risks and their interactions affecting insurance company and its financial position. The article analyses the impact of Solvency II requirements for risk management of insurance company and calculation of the Solvency Capital Requirement. When calculating the Solvency Capital Requirement the insurance company can use the standard formula, or create its own model. Article also deals some of the production method of the internal models and their impact on actuarial calculations.