Insurer's deal with some of the most important needs in life - it is about dreams and nightmares. Models of fundamental needs point to both physical and emotional needs. Many of these fundamental physical and emotional needs could be met by insurers...

Vorliegendes Arbeitspapier untersucht potentielle Nachfragefaktoren auf dem chinesischen Lebensversicherungsmarkt.

In this paper, we investigate the impact of different asset management and surplus distributionstrategies in life insurance on risk-neutral pricing and shortfall risk. In general,these feedback mechanisms affect the contract’s payoff and hence directly influence pricingand risk measurement. To...

Fair pricing of embedded options in life insurance contracts is usually conducted by using risk-neutral valuation. This pricing framework assumes a perfect hedging strategy, which insurance companies can hardly pursue in practice. In this paper, we extend the risk-neutral valuation concept with...

In comparing an immediate life annuity with a payout-equivalent investment fundpayout plan (self-annuitization), research to date has focused mainly on shortfallprobabilities of self-annuitization. As an exception, Schmeiser and Post (2005)propose a family strategy where the chances of...

Critical examination and reviwe of U.S Solvency Framework; Modernize, Modify, Ecpand, Eliminate, Enhance U.S regulatory system as appropriate; Examine international developments for potential use in U.S insurance regulation...

Level 1: Framework Directive, Level 2: Implementing Measures (Commission), Level 3: Convergent implementation assisted by close cooperation between national authorities, Level 4: Rigorous enforcement of Community legislation by the Commission...

Significant amount of work currently undertaken by CEIOPS; Some challenging times ahead; I will focus on two main workstreams: PRIPs and IMD Revision...

The process; A case for EU action; IGS in MS of the EU/EAA; Design Features; The outcome: What size?...

U.S. policy holder protection; U.S. garanty fund system; Notable Features...