Banking and Insurance Industry

Insurance Business Administration V: Risk Management in Insurance Companies

Integrated course, 4.00 ECTS


Course content

Understanding the risk management system as the basis of efficient company management (value-oriented management: profit objective (shareholder value), safety objective (safety first), risk-based capital allocation). Basic understanding of impacts on entire insurance industry; understanding regulatory requirements (e.g. Solvency II). After completing this course, students should be able to understand, apply and critically discuss risk management concepts.

Learning outcomes

Application-oriented knowledge of financial, insurance industry and actuarial connections, understanding tasks and functions of insurance agencies and their products.

Recommended or required reading and other learning resources / tools

Farny, Versicherungsbetriebslehre3 (2006); Farny u.a. (Hg.), Handwörterbuch der Versicherung (1988); Schierenbeck, Hölscher: BankAssurance4 (1998);
Schierenbeck, Bank- und Versicherungslexikon2 (1994); Albrecht, Peter: Zur Risikotransformationstheorie der Versicherung (1992); Schradin: Erfolgsorientiertes Versicherungsmanagement ( 1994). Albrecht/Maurer: Investment- und Risikomanagement3 (2008); Müller-Reichart/Romeike: Risikomanagement in Versicherungsunternehmen2 (2008);Radtke, Grundlagen der Kalkulation von Versicherungsprodukten in der Schaden- und Unfallversicherung (2008); Albrecht: Grundprinzipien der Finanz- und Versicherungsmathematik (2007). Führer/Grimmer: Einführung in
die Lebensversicherungsmathematik (2006)

Mode of delivery


Prerequisites and co-requisites

Basic knowledge of Business Management and Macroeconomics

Assessment methods and criteria

Final examination including continuous assessment during practical part