their effectiveness to control the owner's incentive for excessive risk taking, both in an analytically tractable life … probability, as required by Solvency II, is shown to ensure that the regulator identifies changes in the risk position before …

Life insurers typically grant policyholders a surrender option. We demonstrate that the resulting lapse risk could …

The topic of insolvency risk in connection with life insurance companies has recently attracted a great deal of … company are affected by the default risk and the choice of the relevant bankruptcy procedure. As an example, the US Bankruptcy …. Life insurance liabilities at market value: An analysis of insolvency risk, bonus policy, and regulatory intervention rules …

We study how risk management through hedging impacts firms and competition among firms in the life insurance industry … hedging. Post reform impacted firms have lower risk and fewer negative income shocks. Product market competition is also … financial distress to decrease risk and become more competitive …

investment returns and risk, provide an attractive and effective alternative to traditional guaranteed life annuity products …. While longevity risk sharing in pooled annuities has received recent attention, incorporating investment risk beyond fixed …, while reducing pooled annuity income volatility and downside risk, as well as an investment strategy that reduces exposure …

literature that, when there is (only) risk type uncertainty, the optimal GR contract with renewal price set at the actuarially … fair price for low risk types provides full insurance against reclassification risk. We develop a model that includes … unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over …

This study investigates the effect of risk aversion of single-parent households with at least one child under 18 on … owning term life insurance decreases as risk aversion increases, but the likelihood of owning cash-value life insurance … increases as risk aversion increases. Smokers were less likely to own term life insurance but more likely to own cash-value life …

for awareness, when fitting the TRM model, of model risk when assessing longevity-related liabilities, especially when … model is examined. We demonstrate a number of ways to quantify model risk in the estimation of the temperature …

The paper offers an insight into life insurance risk management topics with reference to recent regulatory innovation …. The study starts with a full breakdown of the risk system of life insurance companies and provides a methodology of … identification of risk drivers pertinent to both current earning and market value approaches. By means of the differential analysis …

cohort mortality risk on the money's worth. We demonstrate that cohort mortality risk is quantitatively important, and show … that it is not possible to identify the effect of a cohort mortality risk model from that of an adverse selection model …