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Finance
The balance sheet and investments seen from insurance: discounting, asset-liability matching, collateral, ratings, and the market mechanisms a risk carrier's solvency depends on.
137 terms1994 CFA franc devaluationAfreximbank (African Export-Import Bank)African Development Bank (AfDB)AIG rescue (2008)Alternative Risk Transfer (ART)Annual cohorts and level of aggregation (IFRS 17)Argentina's 2001 defaultArt-secured lendingAsset-intensive reinsuranceAsset-liability matching and durationBasis point valueBCEAO (Central Bank of West African States)BEAC (Bank of Central African States)Brady bondsCAGR: Compound annual growth rateCash flow matchingCFA franc (XOF and XAF)Coase theoremCollapse of HIH Insurance (2001)Collective action clauseCompoundingContract for difference (CfD) for renewablesContractual service margin (CSM)ConvexityCost of capitalCoverage units (IFRS 17)Credit spreadCurrency risk and hedgingDebt Service Suspension Initiative (DSSI)DiscountingDocumentary creditDuration gapECB 2022 climate risk stress testEco (ECOWAS single currency project)Economic value of own fundsEffective annual rate (EAR)Embedded valueEquitable Life affair (2000)Equivalent rateExclusion of Russian banks from SWIFT (2022)Failure of Confederation Life (1994)Failure of Executive Life (1991)Failure of Mutual Benefit Life (1991)Failure of Nissan Mutual Life (1997)Failure of Silicon Valley Bank (2023)Financial materialityFlash loan attackFloatFractional art investmentFree riderFundamental spreadG20 Common Framework for Debt TreatmentsGeneral measurement model (GMM)Ghana debt restructuring (2022-2024)Greek debt restructuring (2012)Hidden debt (Mozambique tuna bonds)Holdout creditors and the pari passu clauseIFRS 17IFRS 17 discount rates (bottom-up and top-down)IFRS 9Illiquidity premiumImmobilization of central bank reservesImmobilized Russian assets at EuroclearImplied temperature rise (ITR)Industry loss warranty (ILW)Insurance finance income or expenses (IFRS 17, OCI option)Insurance stress testIntangible assetsInterest rate swapInvestment component (IFRS 17)Investment yieldIrreversibilityJudgment preservation insuranceKey rate durationLast liquid pointLiability for incurred claims (LIC, IFRS 17)Liability for remaining coverage (LRC, IFRS 17)Liability-driven investmentLongevity bondLook-through approachLoss given defaultLoss-absorbing subordinated debtMacaulay and modified durationMargin call and collateralMatching adjustment mechanismNGFS short-term climate scenariosNominal rateOne-off Fit-for-55 climate scenario analysis (2024)Onerous contracts and the loss component (IFRS 17)Operations account with the French TreasuryP50 and P90 energy yieldPACTA (Paris Agreement Capital Transition Assessment)Paris ClubPassion assetsPremium allocation approach (PAA)Private credit on insurers' balance sheetsPrivate equity-backed life insurersProbability of defaultProxy revenue swapRating migrationRedington immunizationRegulatory return on equityRegulatory risk-free rate curveReinsurance contracts held (IFRS 17)Reinvestment riskRisk adjustment (IFRS 17)Risk marginRussian financial crisis of 1998Sanctions-induced sovereign defaultSecuritizationSelective defaultSelf-custodySmart contractSmith-Wilson extrapolationSovereign CDS and credit eventSovereign defaultSPAC (special purpose acquisition company)Special purpose vehicle (SPV)Spread risk submoduleSri Lanka's default (2022)Strategic asset allocationSurvival periodSwaptionTarget Setting Protocol (NZAOA)Third-party litigation funding (TPLF)Tiering of own fundsTokenizationTontineTransition to IFRS 17 (full retrospective, modified retrospective, fair value)Transitional measure on technical provisionsUltimate forward rate and extrapolationUnrealized losses on bondsValue of new business (VNB)Variable fee approach (VFA)Volatility adjustmentWartime sovereign debt moratoriumZambia default (2020)