Risk management in reinsurance

Interest in risk management has increased in recent years. many studies concerning risk and insurance theory have appeared. These have been aimed at defining the risks and finding the most suitable methods to control them and their effects as well as minimizing the costs. The interest of the reinsurer in risk management, and his success in limiting his risks and hence in increasing his insuring capacity and achieving a balance in his portfolio is an important starting point to overcome many of the problems which confront the insurance and reinsurance markets. The capacity of the different insurance corporations and the markets as a whole depends on the capacity of the reinsurance markets to provide the essential covers for risks which are accepted by the insurance companies. The need to increase the capacity is not restricted only to the developing insurance markets, but it has become more important for the developed markets because of the nature of risks resulting from scientific advancement and changes in the economic, financial and social environment of insurance enterprises. This study concerns the general framework of risk theory, risk definition, classification and measurement and of methods of risk management in order to allow the theory and its applications to be introduced into the various fields which are beset by risk. The study reviews the division and analyses of the risks which are confronted by the reinsurer, whether they are related to each type of primary risk or to reinsurance risk or to the political, social and economic elements in the environment. It also studies and analyses the methods which are already used,, and those which can be used by the reinsurer in managing the risks which confront him. The study concentrates on the technical aspects of the contractual and management devices as well as the underwriting and retention decisions as the most effective methods of managing these risks. This is done by studying the factors which affect the decisions as indicated by a quantitative survey by the researcher.

Let's Keep this Private: The Growing Weight of Evidence Behind Improving M&A Returns

It’s different this time’… is certainly a phrase that’s been used for subjects ranging from the 2000 equity market valuations to the prospects of England at the football World Cup. But unlike in mathematical proof or scientific experimentation, finance theories are not fixed in their validity. That validity can have a time limit. And in that light, historically viewed as being negative for the acquiring company, M&A acquisitions are now seen as being more positive by many who use more recent data, despite there being those who stick fast to the earlier, albeit out-dated, research. But is this actually the case? First, what could be the explanation for improving returns being observed for acquirers in M&A? 1. Maybe corporates are learning and executing better (not the focus of this report but we touch on a couple of potential explanations at the end)? 2. A mix effect. Corporates are doing the ‘right’ sort of deals 3. Has analysis improved to pick up the value creation? We set out to investigate the premise and the possible reasons for the change, with a particular emphasis on success rates of acquisitions of unlisted companies (referred to here as Private deals) versus those of listed companies (referred to as Public deals) and the changes in success observed before and after the bubble of 2000. The basis of our report is a meta-analysis of 86 studies in the field. The latter two explanations above are clearly valid in our view of the literature. The connection between the two explanations is Private deals -- and that is the focus of this report. We have found an increase in the prevalence of Private deals, from 66% of acquisitions by listed firms in the period 1984-1999 (inclusive) to 78% in the period 2000-2015. Combine that fact with more analysis of private deal making and the dramatic (positive) results for Private deals that are shown in this report and in our opinion you are a long way to an explanation. Private deals don’t have to be small as they can be transformational. In what is now branded one of the top 15 tech acquisitions of all time, Google bought private company Applied Semantics for $102 million in April 2003. Within 2 years it represented 15 And if not operationally transformational, such can be large enough to make a big difference to the balance sheet. In 2005 Google bought unlisted Skype for$2.6bn. It was sold for $8.5bn in 2011

A comprehensive review of synchronization methods for grid-connected converters of renewable energy source

Recent interest in the integration of renewable energy sources (RES) into the power grid has raised concerns in synchronization of the various RES. Grid variables such as voltage, phase angle and frequency should be continuously monitored to guarantee correct operation and synchronization of power converters connected to the power grid. Numerous synchronization methods have been presented over the years to address issues such as unbalanced condition and frequency variation. This paper presents a review of past studies on synchronization methods for grid-connected converters together with their control and modeling techniques. Various estimation techniques for phase angle, frequency and harmonic are discussed and examined. Key challenges for a smart and efficient synchronization are briefly overviewed and possible future works are also recommended. A consolidated review is the particular focus of this paper, as is the provision of information on the best method for synchronizing grid-connected converters

Multiorgan MRI findings after hospitalisation with COVID-19 in the UK (C-MORE): a prospective, multicentre, observational cohort study

Introduction: The multiorgan impact of moderate to severe coronavirus infections in the post-acute phase is still poorly understood. We aimed to evaluate the excess burden of multiorgan abnormalities after hospitalisation with COVID-19, evaluate their determinants, and explore associations with patient-related outcome measures. Methods: In a prospective, UK-wide, multicentre MRI follow-up study (C-MORE), adults (aged ≥18 years) discharged from hospital following COVID-19 who were included in Tier 2 of the Post-hospitalisation COVID-19 study (PHOSP-COVID) and contemporary controls with no evidence of previous COVID-19 (SARS-CoV-2 nucleocapsid antibody negative) underwent multiorgan MRI (lungs, heart, brain, liver, and kidneys) with quantitative and qualitative assessment of images and clinical adjudication when relevant. Individuals with end-stage renal failure or contraindications to MRI were excluded. Participants also underwent detailed recording of symptoms, and physiological and biochemical tests. The primary outcome was the excess burden of multiorgan abnormalities (two or more organs) relative to controls, with further adjustments for potential confounders. The C-MORE study is ongoing and is registered with ClinicalTrials.gov, NCT04510025. Findings: Of 2710 participants in Tier 2 of PHOSP-COVID, 531 were recruited across 13 UK-wide C-MORE sites. After exclusions, 259 C-MORE patients (mean age 57 years [SD 12]; 158 [61%] male and 101 [39%] female) who were discharged from hospital with PCR-confirmed or clinically diagnosed COVID-19 between March 1, 2020, and Nov 1, 2021, and 52 non-COVID-19 controls from the community (mean age 49 years [SD 14]; 30 [58%] male and 22 [42%] female) were included in the analysis. Patients were assessed at a median of 5·0 months (IQR 4·2–6·3) after hospital discharge. Compared with non-COVID-19 controls, patients were older, living with more obesity, and had more comorbidities. Multiorgan abnormalities on MRI were more frequent in patients than in controls (157 [61%] of 259 vs 14 [27%] of 52; p5mg/L, OR 3·55 [1·23–11·88]; padjusted=0·025) than those without multiorgan abnormalities. Presence of lung MRI abnormalities was associated with a two-fold higher risk of chest tightness, and multiorgan MRI abnormalities were associated with severe and very severe persistent physical and mental health impairment (PHOSP-COVID symptom clusters) after hospitalisation. Interpretation: After hospitalisation for COVID-19, people are at risk of multiorgan abnormalities in the medium term. Our findings emphasise the need for proactive multidisciplinary care pathways, with the potential for imaging to guide surveillance frequency and therapeutic stratification. Funding: UK Research and Innovation and National Institute for Health Research

Criteria for mesh selection in collocation algorithms for ordinary differential boundary problems

SIGLEAvailable from British Library Document Supply Centre- DSC:8724.9(UNUT-CL-TRS--289) / BLDSC - British Library Document Supply CentreGBUnited Kingdo

Combined hepatoprotective and antidepressant effects of resveratrol in an acute model of depression

There are numerous herbal medicines that have been introduced into psychiatric practice because of greater compliance and milder side effects. Polygonum cuspidatum is a native Asian plant; known for its medicinal properties and traditionally used in the treatment of neuropsychiatric disorders, such as psychosocial stress, dementia and Parkinson’s disease. Resveratrol is the active ingredient of P. cuspidatum. Researchers have suggested that the trans-isomer of resveratrol demonstrates a variety of pharmacological activities including antioxidant, anti-inflammatory, hepatic and neuroprotective properties. In this study we examined the hepatoprotective and antidepressant effects of trans-resveratrol against fluoxetine in an acute reserpine model of depression in rats. Main methods: depression-like behaviors were induced by single reserpine intraperitoneal injection (6 mg/kg, i.p.). Trans-resveratrol (15, 30 and 60 mg/kg bwt) and fluoxetine (24 mg/kg bwt) were administered orally for the following 3 days. Behavioral effects namely open field test (OFT) and forced swimming test (FST) and biochemical parameters namely neurotransmitters levels and antioxidant contents were assessed. Liver histopathological examination was performed. Key findings: Results revealed that resveratrol (60 mg/kg bwt) showed a potential hepatoprotective and an antidepressant-like effects compared to those of fluoxetine

Effect of pre- and post-partum dietary crude protein level on the performance of ewes and their lambs

In a block randomized design, fifty-one Barki ewes weighing 38.0 kg in average and 2–4 years old, were used to study the effect of pre- and post-lambing dietary crude protein level (CP) of concentrates on the milk yield, milk composition and weight of ewes, and performance of their lambs. The treatments comprised supplementary concentrate containing (g/kg dry matter (DM)): (1) 110 CP (low), (2) 130 CP (medium) and (3) 150 CP (high), while Egyptian berseem hay (Trifiolium alexandrinum) was the basal diet. Ewes were weighed individually biweekly, and the number of lambs dropped and nursed by ewes was recorded within 24 h after birth and biweekly subsequently. New-born lambs were left to suckle their dams freely, except for the period when milk yield was recorded by weighing lambs before and after suckling. Milk yield was estimated once a week. Ewes were fed the experimental diets during the last two months of pregnancy and throughout the lactation period. Ewes fed 110 g CP/kg DM attained peak of milk yield earlier than those fed 130 and 150 g CP/kg DM. Total milk yield, milk fat and milk total solids, and weaning weight, average daily gain and relative growth rate of lambs were higher (P < 0.05) for ewes fed medium and high protein levels compared to those fed low protein level. Suckled milk was affected by protein level (P < 0.05); the rank order was: 110 CP < 130 CP < 150 CP. Milk protein and extractable milk were higher (P < 0.05) for high protein level compared to low protein level but solids-not-fat (SNF) and lamb birth weight were not affected (P > 0.05) by protein level. Lamb sex, and parity and weight atlambing of ewes had no effect (P > 0.05) on suckled milk, extractable milk and milk yield. Whereas lamb sex and parity of ewe had no effect (P > 0.05) on milk composition, ewe lambing weight affected (P < 0.05) milk fat and SNF but not milk protein and total solids (P > 0.05). Weights of ewes during gestation, after lambing (post-partum weight loss) and during lactation were not affected (P > 0.05) by protein level, except at the 3rd month of lactation. Lamb sex, parity and lambing weight had pronounced (P < 0.05) effects on lamb birth weight and weaning weight. It is concluded that 150 g CP/kg DM level pre- and post-partum could be used for improved performance of ewes and their lambs while parity and weight of ewe at lambing should also be given consideration

Prevalence of enteropathogenic and enterotoxigenic Escherichia Coli in foods of animal origin in southern Brazil Prevalência de Escherichia coli enteropatogênica e enterotoxigênica em alimentos de origem animal no sul do Brasil

Prevalence of Escherichia coli in foods of animal origin from the city of Pelotas, Brazil, was determined. The ocurrence of enterotoxigenic (ETEC) and classic enteropathogenic (EPEC) serogroups among E. coli isolates was determined. E. coli was isolated from 68% of the food samples surveyed. Of 36 food samples tested, 11(30%) and 24(66%) were positive for EPEC and ETEC strains respectively. However, of 187 E. coli isolates tested, 30(16%) were EPEC compared to 75(40%) which were ETEC. The antibiotic resistance pattern revealed that the isolates were highly sensitive to all antibiotics tested.<br>Foi determinada a prevalência de Escherichia coli em alimentos de origem animal na cidade de Pelotas, RS. Determinou-se a ocorrência de cepas enterotoxigênicas (ETEC) e enteropatogênicas clássicas (EPEC) entre os isolamentos de E. coli. Em 86% das amostras de alimentos analisadas foi detectada a presença de E. coli. De 36 amostras de alimentos testadas, 11(30%) e 24(66%) foram positivas para EPEC e ETEC, respectivamente. Entre os 187 isolamentos de E. coli testados. 30(16%) pertenciam a sorogrupos de EPEC e 75(40%) foram positivos para ETEC. O perfil de resistência à antibióticos revelou que os isolados foram altamente sensíveis a todos os antibióticos testados