manage systematic mortality risks, namely self-insurance and risk transfer to purchasers of the annuity products. We … demonstrate that self-insurance leads to high loadings, so that households offered a choice would favor the risk transfer scheme …

manage systematic mortality risks, namely self-insurance and risk transfer to purchasers of the annuity products. We … demonstrate that self-insurance leads to high loadings, so that households offered a choice would favor the risk transfer scheme …

compound Hawkes process (GCHP), and for a capital R(t) (risk process) of an insurance company with the amount of claims … described by the risk model based on GCHP. The main approach in both cases is to use functional central limit theorem for the …