Research & Insights
‘PIT’falls of ‘Through-the-Cycle’
John Hibbert
In this white paper we consider the implications for policyholders, regulators and companies of ‘Point-in-Time’ and ‘Through-the-Cycle’ capital measures.
We also demonstrate that VaR capital measures conditioned on current available information can demand lower average capital as well as simultaneously delivering lower average policyholder losses in default, when compared to TTC measures.
