Over the last decades, significant improvements in life expectancy have been observed in most Western countries. More importantly, there is considerable uncertainty regarding the future development of life expectancy. This uncertainty imposes significant risk on pension providers and life...

This paper assesses the impact of longevity risk management on insurer shareholder value and solvency for an annual portfolio. The analysis uses a multi-period stochastic mortality model with both systematic and idiosyncratic longevity risk. We consider both survivor, or longevity, swaps that...

The Central Provident Fund (CPF), Singapore's public pension, is a prefunded, defined contribution pension plan. As average longevity increased, policy makers grew concerned over the fact that participants bear the burden from longevity risk, and a new program to annuitize a portion of CPF...

This paper employed research methodology of direct-vision visual anthropology to highlight the role played by a combination of emic method and etic method. In the field spot of Huamao Central Community of Beijing, the author conducted in-depth interviews objectively with different age groups of...

The pricing of longevity-linked securities depends not only on the stochastic uncertainty of the underlying risk factors, but also the attitude of investors towards those factors. In this research, we investigate how to estimate the market risk premium of longevity risk using investable...

Disaggregation of mortality by cause has advanced the development of life tables for life insurance and pension purposes. However, the assumption that the causes of death are independent is a challenge in reality. Furthermore, models that determine relationships among causes of death such as...