ABSTRACT
The capital at risk can be analysed by vary ing the assumptions
for the various relevant background features i n a way s imilar to that
shown i n section 6.2. Effects which have a greater impact on long-
term considerations are, i n particular, business cycles and the return
on investments. The impact of a cycle was shown i n Figure 12.4.3.
(b) The capital requirements of an insurer. Insurance management
