Statutory reserves in life insurance companies are required by regulation laws. Regulators monitor insurers’ statutory reserves to protect policy holders’ future benefits and ensure the insurers are financially healthy. The purpose of this report is to give a brief introduction to statutory reserves in life insurance companies. In this report, assumptions and valuation methods for statutory reserve valuations are explained and discussed. The comparisons between statutory reserves and GAAP reserves are also discussed. / text

published_or_final_version / Business / Master / Master of Philosophy

Abstract Background: Micro-sized family businesses are facing great challenges in nowadays competitive markets. Marketing is one of the most essential fields if a company wants to suc-ceed. Traditional marketing reveal more and more disadvantages, with competition that is constantly rising, technological marketing methods that are breaking down geographical bur-dens and consumer markets that are getting more demanding. One way to step away from the traditional marketing patterns and differentiate is the implementation and usage of relation-ship marketing. As a novel strategic method, the focus shifts from the product to building a loyal customer relationship foundation. Purpose: Consequently the purpose of this thesis is to investigate which factors influence an implementation of relationship marketing in micro-size family businesses. Using a case study, we will investigate how the potential theories can be successfully translated into reality when using relationship marketing in micro family firms. For reaching this goal, we will mainly identify several influences that impact a relationship marketing implementation in micro family businesses. Method: The data used for our case study has been collected through email in-terviews. Using an abductive approach and a qualitative analysis we are investigating and analysing specific factors and their influence on relationship marketing in micro family busi-nesses, in particular Casa Canela. Although one case cannot act as a role model and offer generalisable suggestions on all micro sized family firms, it presents an interesting example of one case and we hope that the outcomes and results can offer a guideline and inspiration to other micro family businesses as well. Conclusion: All in all, this thesis suggests that relationship marketing can benefit micro-sized family businesses. Moreover, factors like the owner-managers, the location, the financial situation and long-term goals influence the implementation of this strategy. With the help of our case firm Casa Canela and the analysed factors, we concluded that relationship marketing can provide a solid foundation for a successful business performance in the long-run.

This study is about how the use of client insight can maximize the effectiveness of a marketing strategy in an organization. During the study an extensive literature review was done to investigate the role of management in creating a client centric culture by applying theories such as the Five-factor model of personality and the Full Range of Leadership Model proposed by Bass and Avolio (1994). Detailed review on the latest client insight theories and global trends such as neuromarketing, advocacy advertising and law of lens was explored. A client insight research survey was administered to investigate specific aspects of the client centric culture and the implementation of insight driven marketing strategies within Sanlam. The survey found that there is high level of awareness of client centricity within the organisation. However, the implementation of client insight driven strategies in most departments surveyed was unfavourable. Areas identified for improvement were the need for greater awareness, usage of client insight related services and a more active role of management in promoting client centric strategies. Best practices, policies and recommendations with regards to management's role in using client insight, data mining and market intelligence was suggested for the enhancement of the marketing strategy. It was recommended that change agents be incorporated within Sanlam to catalyze the process of entrenching day-to-day client insight driven work performances and management transformation. Further investigation is suggested regarding the incompatible data management technology, which should enable the company to obtain a single view of the client as well as instituting the virtuous cycle in the market research and information department. / Thesis (MBA)-University of KwaZulu-Natal, Durban, 2005.

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The study examines an aspect of indigenous Nigerian entrepreneurship, focusing on the cross-border trade in South-Western Nigeria. An almost total ignorance of how the traders go about their business, coupled with an unwelcoming trading environment, appear to have caused the antipathy of policy planners, and dearth of academic research in the area. The dearth of research is of particular concern here hence the need to "go back to basics", as it were, and focus the research in the first instance, on what the trade is in fact all about. The study focuses therefore on a descriptive analysis of the cross-border trade itself as an indigenous exporting activity, in particular the role of the small businesses who, in numerical terms at least, dominate the trade. It is expected that this will lead to future, more sector and area-specific studies on the subject. The cross-border trade takes place in an environment of illegality, corruption, and an unstable local economy, which makes trading conditions difficult, and would ordinarily seem to prevent traders from exercising their enterprise other than for mere survival on the economic fringes. Policy planners are also quick to argue that the trade is merely a smugglers' arena that contributes nothing to national development and in fact needs to be eliminated in aid of the development process. These reinforce the development literature which envisages only a limited role for indigenous entrepreneurship in economic development. The findings in this study however suggest another interpretation. It is argued that the trading environment as it is in fact provides opportunities which seem to have encouraged the emergence of an entrepreneurial class, and that though largely invisible, greater capital accumulation than is usually thought appears to be taking place, suggesting a more significant role for indigenous entrepreneurs in the development process. Between chapters 1 and 5, a case is presented for why existing trade and development theories have only a limited application to the development process in less developed countries like Nigeria. Chapters 6 and 7 introduce the surveys which indicate the performance and strategy of a sample of producers and traders. Subsequently relying mainly, but not exclusively on anthropologically-oriented material, the study focuses, in chapters 8 and 9, on the actors and activities in three cross-border trade routes, exploring the ways in which the traders relate to one another and to other participants in the trade. Further attention is paid to the ways in which the trade survives, evolves and develops, in spite of considerable environmental difficulties. While the study does not dispute that there are several smugglers and other law-breakers in the cross-border trade traffic, it argues further that considerable legitimate, but unrecorded trade goes on across the borders by several dedicated producers and traders. Certain theoretical implications arising from the study are discussed as areas for further study, while other, more practical recommendations, are suggested to policy planners, which may be beneficial both to them and to the traders in the future developments of the trade.

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