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Bedeutung von Hedgefonds für das Asset-Management von Lebensversicherungsunternehmen

Bedeutung von Hedgefonds für das Asset-Management von Lebensversicherungsunternehmen

          
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About the Book

Diplomarbeit aus dem Jahr 2004 im Fachbereich BWL - Bank, Börse, Versicherung, Note: 1,3, Hochschule RheinMain, Sprache: Deutsch, Abstract: Die deutschen Lebensversicherungsunternehmen stehen vor der Herausforderung, in einem durch volatilere Aktienmärkte und historisch niedrige Zinssätze geprägten Kapitalanlageumfeld eine wettbewerbsfähige Verzinsung der Versicherungspolicen zu erwirtschaften. Neben der Garantieverzinsung ist die Beteiligung der Versicherungsnehmer an den Überschüssen aus dem Kapitalanlageergebnis ein zentrales Verkaufsargument. Versicherungsunternehmen, die weder durch niedrige Kostenstrukturen noch durch innovative Produktpolitik Wettbewerbsvorteile kommunizieren können, bleibt einzig die Erzielung einer höheren Rendite, um sich von den Mitbewerbern positiv abheben zu können. In der Finanztheorie ist bekannt, dass zwischen der Renditeerwartung und dem damit verbundenen Risiko ein positiver Zusammenhang besteht. Am Beispiel der Mannheimer Lebensversicherung musste erkannt werden, dass die in Deutschland vorhandenen Aufsichts- und Kapitalanlagevorschriften zur Sicherstellung der Ansprüche der Versicherungsnehmer nicht ausreichen (...) Während ein privater Investor seine Anlageentscheidung trifft, indem er die Höhe seines Anfangseinsatzes der Höhe der erwarteten Auszahlung einer mehrjährigen Investition gegenüberstellt, muss ein Versicherungsunternehmen aufgrund der jährlichen Berichterstattung und Überschussfestlegung bestrebt sein, regelmäßig überdurchschnittliche Ergebnisse zu liefern. Die Investition in nicht festverzinsliche Wertpapiere kann somit zwar langfristig die beste Wertentwicklung bieten, ist aber aufgrund hoher Wertschwankungen für das Kapitalanlageportfolio eines Versicherungsunternehmens nicht uneingeschränkt geeignet (...) Durch die oben beschriebenen Rahmenbedingungen ist es notwendig, Anlagealternativen zu generieren, die unabhängig vom jeweiligen Marktumfeld positive und schwankungsarme Renditen erwirtschaften. Während traditi


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Product Details
  • ISBN-13: 9783638707602
  • Publisher: Grin Publishing
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 9 mm
  • Width: 148 mm
  • ISBN-10: 3638707601
  • Publisher Date: 03 Aug 2007
  • Height: 210 mm
  • No of Pages: 156
  • Series Title: German
  • Weight: 213 gr


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Bedeutung von Hedgefonds für das Asset-Management von Lebensversicherungsunternehmen
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