In this paper we consider an alternative dividend payment strategy in risk theory, where the dividend rate can never … dividend payment strategies of barrier and threshold type. We study the case where once during the lifetime of the risk process … the dividend rate can be increased and derive corresponding formulae for the resulting expected discounted dividend …

insurance by strictly-risk averse agents and risk-neutral firms when they enjoy limited liability. When exposed to a bankrupting …

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

, we forecast future leverage ratios and include them in the set of default risk drivers. The analysis is done with a …

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 …