Implications of European Directives in the Assessment of Insurance Companies
The objective of this paper is to present a vision in the sphere of the problematic of assets and liabilities’ evaluation that are reflected in the balance sheet of the insurance companies, inside the theory of the contingent claims, and of the marginal theory inside the insurance sphere. Our refere...
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2011-03-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/576.pdf
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| Summary: | The objective of this paper is to present a vision in the
sphere of the problematic of assets and liabilities’ evaluation that are
reflected in the balance sheet of the insurance companies, inside the
theory of the contingent claims, and of the marginal theory inside the
insurance sphere. Our references take into consideration all the
principles and evaluation norms of a company’s liabilities, company
operating in the life insurance domain, including the general request
introduced by the IFRS. Also, we argument the fact that the making of the
new IFRS standards’ frame must take into consideration the accelerated
globalization of the trading and the internalization of the financial
markets, factors that have made pass onto the first place the necessity of
a standardized financial reporting system. Because for so long the
evaluating inadequacy of the assets at their fair value and the liabilities
at their fair cost has persisted for so long, we underline that we find even
in this a vast debate subject between the insurance companies’
representatives and the IASB, especially in the second step of the IFRS4’s
implementation in the life insurance contract. |
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| ISSN: | 1841-8678 1844-0029 |