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...

The genealogy of risk is closely linked with the development of insurance, which in turn is linked to changes in the forms of political liberalism. This paper examines shifts in this triangular relationship from the early 19th century to the present, and argues that risk has changed its forms...

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...