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NON-LIFE
RESERVING PRACTICES
2016
ASTIN
Section assurance non vie de l’AAI
IAA Non-Life Insurance Section
n1
Prepared by the ASTIN Working Party on Non-Life Reserving
Head of project Pierre Miehe miehe.pierre@gmail
Marketing head Judith Lutz lutzjudith@outlook
CAO/PAO advisory Accroche-com carolinethobie@accroche-com.fr
Solvency II section Fabrice Taillieu fabrice.taillieu@milliman
ASTIN WPNLReserving Country Nominates (Detail page 98)
Version 1.1, 06.12.2016
NON LIFE RESERVING PRACTICES
I
n its constant care to follow insurers practices and serve as the link between academic
searchers and practitioners, the ASTIN (Actuarial STudies in Non-Life Insurance), the Non-
Life section of the International Actuarial Association, launched on Q4 2015 a survey aiming
at gathering the reserving practices of insurers around the world.
42 PARTICIPATING COUNTRIES, ACCOUNTING FOR 87% OF WORLDWIDE NON-LIFE PREMIUMS
535 insurance companies participated to the survey, from 42 different countries, these
countries accounting for 87% of Worldwide Non-Life premiums.
We would like to express our deepest thanks to the reserving actuaries from the participating
companies, and to all the people who assisted them.
Congratulations to the 42 country nominates who did a great job managing the surveys in each
participating country, and writing the country reports.
We would also like to thank the marketing head of this project, Mrs Judith Lutz, and the com-
munication frm accroche-com, who kindly volunteered to help us.
GLOBAL REPORT AND 39 DETAILED COUNTRY REPORTS
This report contains a summary of the fndings, as well as a detailed report for each of the 39
countries where the coverage was estimated as suffcient.
Although we have tried to be quite extensive while building the questionnaire, we are conscious
that some questions are not adapted to some countries, and many reserving methods are not
represented in the survey.
3 SPECIFIC SECTIONS
We have also added to this report the following 3 sections which we hope will be useful for
the readers:
We hope you will enjoy the reading this report, and we would be very happy to receive any
comments or suggestions at the following address: wpnlreserving@actuaries
With our kind regards,
Eric DAL MORO
ASTIN Chair
EDITORIAL
2016 ASTIN WORKING PARTY ON
Frank CUYPERS
ASTIN Committee member
Pierre MIEHE
ASTIN Committee member
Non-Life Reserving Practices Report - ASTIN 2016.3
This survey presents some insurance companies’ non-life reserving practices for some selected countries. It does not intend to be
exhaustive nor fully representative of each market.
It is the result of the project “WPNLReserving” (Working Party Non-Life Reserving) launched by ASTIN on Q4 2015, with a call for
volunteers in each of the target markets.
Following the candidatures received 1 to 2 persons (called the “Nominates”) have been nominated per target market, as the
project manager for his/her country.
Data sources
The results are based on 4 sources:
- 535 surveys (“ASTIN WPNLReserving surveys”) flled by insurance companies from 42 countries, for main data;
- The Swiss Re SIGMA 2015 report, gathering insurance premiums and population of the selected countries in 2014, available on
the following website: http://media.swissre/documents/sigma4_2015_en.pdf;
- Information on discounting and signing actuaries provided by the Nominates;
- Country text reports written by the Nominates.
The ASTIN WPNLReserving survey
The Survey has been prepared by the ASTIN Committee members, with the help of Dr Mario Wüthrich, to which the ASTIN would
like to express its deepest thanks. It has then been shared with the Nominates to take into account their suggestions, and fnalized
on 1st January 2016.
This fnal survey can be downloaded on the ASTIN website: actuaries/index.cfmDSP=ASTIN&ACT=IND
EX&LANG=EN.
2 specifc questions have later been added specifcally for USA and Canada.
The surveys have then been flled by people responsible for the reserves in the insurance companies which accepted to answer,
on an anonymous basis to minimize distortion, during Q1 2016. The answers were on a voluntary basis, which may induce a bias.
The data entered by insurance companies has not been checked.
The data treatment has been performed by members of the WPNLReserving project, using Excel Add’ins. For world consolidation
a weighted average have been used, using countries non-life premiums as weigths.
Countries where representation was considered as insuffcient do not have a specifc country report.
Representativeness
A rank of representativeness has been evaluated for each market, from 1/5 to 5/5, on the basis of the estimated written premiums
share of participating companies:
: 0-20% market share : 20-40% market share : 40-60% market share
: 60-80% market share : 80-100% market share
Specifc case of UK
For UK the data does not come from the survey flled by insurers, but from a 2014 survey run by the UK, the results of which are
available on the survey’s report: https://actuaries.uk/documents/giroc-uk-reserving-survey-2014.
As the questions and the protocol were not the same, it could induce a bias in the results, compared to other countries.
Comments/Suggestions
If you have any comments or suggestions, please do not hesitate to send an e-mail to wpnlreserving@actuaries.
-MODUS OPERANDI / DISCLAIMER
NON LIFE RESERVING PRACTICES
2016 ASTIN WORKING PARTY ON
ASTIN
4.Non-Life Reserving Practices Report - ASTIN 2016
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