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Operational Risk Control with Basel II
book

Operational Risk Control with Basel II

by Dimitris N. Chorafas
November 2003
Intermediate to advanced content levelIntermediate to advanced
400 pages
12h 48m
English
Butterworth-Heinemann
Content preview from Operational Risk Control with Basel II
The use of insurance policies to mitigate operational risk 247
according to market analysts Allianz had to sell equities in its portfolio in order to
save at least some of its core capital.
Other insurance companies, including Munich Re, were also selling their stock
holdings, further contributing to the market meltdown. The panic button was hit by
insurers because about 30% of the assets of Europe’s insurance companies had been
invested in the stock markets (see Chapter 10), and more than $165 billion of that
money evaporated with the stock market crash.
The capitalization of major insurance companies themselves took a severe hit. The
stock of Allianz, ...
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Publisher Resources

ISBN: 9780750659093