Determining a premium for an insured person in an insurance company takes under consideration many factors, such as the size and profitability of the insurance company. By standard insurance theory, the total premium is given by p 3 σ/√n when n is the number of assured members, p is the net...

This article provides natural hedging strategies for life insurance and annuity businesses written on a single generation or on different generations in the presence of both longevity and interest-rate risks. We obtain closed-form solutions for delta and gamma hedges against cohort-based...

This paper examines changes in the distribution of workers among different size firms and the resulting impact on employment-based health benefits. Small firms account for much of the new job growth in the United States. However, the percentage of workers in firms with fewer than 500 employees...