We point out an error in the proof of the main result of the paper of Tanabe et al. (Comput Stat 22:145–157, <CitationRef CitationID="CR7">2007</CitationRef>) concerning a parameter estimation for von Mises–Fisher distributions, we correct the proof of the main result and we present a short alternative proof. Copyright Springer-Verlag...</citationref>

With the increasing complexity of investment options in life insurance, more and more life insurers have adopted stochastic modeling methods for the assessment and management of insurance and financial risks. The most prevalent approach in market practice, Monte Carlo simulation, has been...