Ng, Andrew Cheuk-Yin; Li, Johnny Siu-Hang; Chan, Wai-Sum - In: International Review of Financial Analysis 20 (2011) 1, pp. 20-26
The variable annuity market in Japan is still young, but growing rapidly. Most variable annuities in Japan are sold with one or more investment guarantees, such as a Guaranteed Minimum Maturity Benefit (GMMB), which guarantees that the ultimate annuity principal will not fall below a pre-set...
