The valuation of financial companies tools and techniques to measure the value of banks, insurance companies and other financial institutions - Massari, Mario (Wiley, 2014)
Description based upon print version of record. - 6.4.1 Reserves and Separate Accounts
This book presents the main valuation approaches that can be used to value financial institutions. By sketching 1) the different business models of banks (both commercial and investment banks) and insurance companies (life, property and casualty and reinsurance); 2) the structure and peculiarities of financial institutions' reporting and financial statements; and 3) the main features of regulatory capital frameworks for banking and insurance (ie Basel III, Solvency II), the book addresses why such elements make the valuation of financial institutions different from the valuation of non-fina