Dowd, Kevin; Blake, David; Cairns, Andrew; Dawson, Paul - 2005
possible uses of SSs as instruments for managing, hedging, and trading
mortality-dependent risks. SSs are especially useful for … insurance companies,
but also offer other interested parties low beta avenues into the acquisition
of mortality risk exposure … in
an incomplete market setting.
INTRODUCTION
Mortality or survivor risk has long been a major issue for insurance …