Valuation Standards for Insurance Companies in the Financial Theory

This article aims to evaluate the research of the different published opinions on the insurance company valuation, to analyse them and to judge their use in practice. The process of the va-luation of the insurance company is very complicated and there are not many theoretical studies concerning this problem. The valuation of insurance companies should take into account the specifics of insurance activities and should look for the optimal approach. There were different approaches available - the income approach, the market comparison approach, the assets-based approach and the Bond Pricing Model. They can be combined and so there can be created different types of models. The two most important models of Massari, Gianfrate and Zanetti (2014) and Hrdý, Ducháčková (2014) were analysed and compared. Both models are applicable in practice. For the final valuation standards it could be recommended to use minimum of two methods of valuation or one of the two in detailed analysed models. Keyword: valuation, insurance company, standards, models