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Complex Insurance Protection of the Village Lešná
Pechová, Helena ; Remeš, Jaromír (referee) ; Ptáček, Roman (advisor)
This thesis deals with evaluation of insurance protection of the municipality of Lešná as well as with the analysis and comparison of proposals of insurance protection property of the municipality offered by other commercial insurance companies. Based on risk analysis and the current status of insurance coverage are proposed steps to make it more efficient by using the current offer of insurance products. This thesis also contains recommendations for choosing an insurer with regard to the ratio of the scope of the offered insurance protection and the amount of the premium.
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Complex Insurance Protection of the Village Lešná
Pechová, Helena ; Remeš, Jaromír (referee) ; Ptáček, Roman (advisor)
This thesis deals with evaluation of insurance protection of the municipality of Lešná as well as with the analysis and comparison of proposals of insurance protection property of the municipality offered by other commercial insurance companies. Based on risk analysis and the current status of insurance coverage are proposed steps to make it more efficient by using the current offer of insurance products. This thesis also contains recommendations for choosing an insurer with regard to the ratio of the scope of the offered insurance protection and the amount of the premium.
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Analysis of the current situation in the field of travel insurance of tourism participants
Plisková, Michaela ; Petrů, Zdenka (advisor) ; Voříšková, Barbora (referee)
This work is focused on the current situation in the travel insurance market and how this corresponds to the current needs demand. The first part is about the insurance industry and product detail then travel insurance. The second part examines supply, thus the offer of travel insurance from various distributors and compares them with each other. A further section deals with the requirements of the passengers thus the demand. The result of the work describes the intersection of supply and demand. In conclusion, test hypotheses and summarizes the main findings.
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Valuation of Commercial Insurance Companies with Focus on Relative Valuation
Hejduková, Markéta ; Mařík, Miloš (advisor) ; Daňhel, Jaroslav (referee) ; Hnilica, Jiří (referee)
Considering the insufficient current state of theory in the field of the insurance companies' valuation, the aim of this dissertation thesis was firstly to comprehensively analyze issues of commercial insurance companies' valuation and secondly to develop an appropriate body of knowledge that could contribute to the development of a practical methodology to be used in valuation practice. This dissertation thesis is divided into three consecutive parts. The first part assessed the accounting issues of commercial insurance companies with an impact on financial analysis and planning and on further procedure of insurance companies' valuation. In this section, the structure of financial statements of insurance companies was described and specific items of financial statements were discussed, especially concerning financial investments and technical reserves. The book keeping methods, reporting and testing while abiding to the Czech accounting regulations were analyzed. As well as, different accounting procedures required by IFRS or US GAAP were pointed out. Moreover, specific ratios convenient for a financial analysis of insurance companies were recorded. For an overall rating of the financial health, the value creation test was suggested in an equity form. Subsequently, the value drivers of insurance company were identified and recommendations for the complex processes of financial planning were given. Such a complex financial planning process should include a strategic analysis applicable for the purposes of a premium growth rate forecast. The second part includes the various methods of valuation, such as income approach, asset approach and relative valuation. Application of conventional valuation techniques was assessed and necessary modifications of classical methodology were suggested with respect to the specifics of the insurance market. Special attention has been paid to the fair value reporting of certain balance sheet items, as well as the creation of hidden reserves, respectively hidden debt. Modifications of valuation formulas were stated and/or suggested per each introduced method. The scope of this part also included methods of Embedded Value and Appraisal Value, which are used in practice for reporting purposes in the fields of life insurance, and their applicability in the field of business valuation was then assessed. The third part contains an extensive empirical study that focuses on one of the methods of the valuation multiples estimation, for the purposes of life insurance companies, namely so-called sector regressions. Analysis and testing were performed on historical data of traded life insurance companies from Europe, the USA and Canada for the period of 2000 to 2011. Only profitable companies were taken into account in each given year. Data were drawn from S&P Capital IQ database. Multiples MV/E, MV/BV, MV/Prem and D/MV, which were identified as utilizable (dependent variables) in the theoretical part of this thesis, were tested together with 13 financial indicators of life insurance companies (independent variables). Extreme observations of the tested multiples, as well as the indicators, were removed. The major outcome of this empirical study is firstly an identification of key financial indicators which have a major impact on valuation multiples of life insurance companies, and secondly, computation of time consistent regression formulas. Such formulas make for a relatively simple tool for the estimation of valuation multiples (and subsequently market value) of non-traded life insurance companies based on key financial indicators.
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Comparison of travel insurance offered by commercial insurance companies in Czech Republic
Plisková, Michaela ; Petrů, Zdenka (advisor) ; Zábranská, Hana (referee)
Bachelors thesis analyzes travel insurance offered in Czech Republic. Three insurance companies were chosen for the analysis - Česká pojišťovna, Generali and Kooperativa. In the first chapter travel insurance is described, above all insurance and services. Second part includes comparison of insurance and services of individual insurance companies. In this chapter most of all insurance terms and conditions are examined. The end of this part is a thesis, whether is sufficient for client to chose a travel insurance only by parameters such as price or limit of the insurance benefit or analysis of insurance terms of every travel insurance is necessary.
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