Guaranteed Investment Contracts: Distributed and Undistributed Excess Return

Annual minimum rate of return guarantees are analyzed together with rules: for the distribution of excess return, i.e., annual return above the guarantee. The set of, in a specific sense, fair contracts is charactcrizcd with and without a bonus account consisting of accumulated undistributedexeezs return...

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Year of publication:	2001-06-21
Authors:	Miltersen, Kristian R. ; Persson, Svein-Arne
Institutions:	International Actuarial Association / Actuarial Approach for Financial Risks
Subject:	Lebensversicherung \| Vermögensverteilung \| surplus distribution mechanism

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Extent:	811008 bytes 24 p. application/pdf
Series:	Internationale Aktuarvereinigung - Veröffentlichungen
Type of publication:	Book / Working Paper
Language:	English
Notes:	earlier version of this paper: AFIR Colloquium - Tokyo, Japan - August ; 24-27/1999
Classification:	Management of insurance ; Insurance Industry ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005847609