Given the rising cost of maintaining defined benefit (DB) pensions, there has been a surge of activities in recent years by DB plan sponsors to transfer their pension risk through strategies such as buy-ins and buy-outs. As buy-in and buy-out transaction pipelines grow, insurers actively...

Sustainable micro-finance depends on the appropriate management of credit risk. However, small and micro businesses (SMBs) tend to offer little information on their default probability, which poses serious challenges for their micro-finance needs. Given the tremendous socioeconomic impact of...