The United States' aging population puts pressure on the pension system. Pension reforms consider putting more weight on individually managed retirement savings. Public policy and financial planners, being concerned with households making wise asset allocation decisions, need measures to...

We explore whether life insurers use a unique reinsurance arrangement to manage their regulatory capital. Typical reinsurance arrangements allow insurers to reduce their regulatory capital by transferring liabilities, and the associated assets, to reinsurers. With modified coinsurance, insurers...

Einführung Ansichten zum Thema Versicherungsbetrug sind stark divergierender Natur. Nicht wenige sehen darin einen Kavaliersdelikt oder eine Gelegenheit, vergangene Prämienzahlungen zusätzlich zu kompensieren. Demgegenüber wird die Rücksichtslosigkeit von vielen verurteilt - insbesondere...

The risk of infrastructure investments is driven by unique factors that cannot be well described by standard asset class factor models. We thus create a nine-factor model based on infrastructure-specific risk exposure, i.e., market risk, size, value, momentum, cashflow volatility, leverage,...