I have a few different questions on topics involving an doing risk management in life insurance. If someone could shed some light on these issues, I would be very thankful.

a) How does an actuary do the solvability calculations as imposed by Solvency II in practice? How does this look like?

b) How does an internal model in life insurance look like?

c) How does the implementation of risk limit systems look like?

d) What are the most important risks, which life insurance faces? Obviously, the fluctuation of interest rate is one such risk. What are others?

e) Why is it worse for a life insurance if the market interest rate rises? If the interest rate grows, then the bonds are worth less. But if the interest rate drops, then your investments don't generate as much revenue. So why is it worse if the interest rate gets bigger?

I would be very grateful for some resources, where these subjects are explained, in an easy to understand language.

A few other questions on different topics:

1) For which casualty lines are heavy tail distributions used, except fire and liability (industry) ?

2) Similarly, where are light tail distributions usually used?

3) Is ruin theory used in practice? How strong are ruin probabilities dependent on the distribution class used in calculations?

4) What are the similarities and differences between Solvency II and MaRisk (VA) ?

5) How do you determine the rating of a specific financial position if you know it's VaR?

As I said, if you can contribute in any way, so that I can get some answers to these questions, please do so. Your input is priceless for me.

Thank you very much for your time!