Replicating portfolios have recently emerged as an important tool in the life insurance industry, used for the … valuation of companies' liabilities. This paper presents a replicating portfolio (RP) model for approximating life insurance … liabilities as closely as possible. We minimize the L1 error between the discounted life insurance liability cash flows and the …

In this study, we focused on analysing and differentiating the determinants of conventional insurance and Takāful … conventional insurance and Takāful over the period 2005–2014. We applied fixed and random effect regression models to assess the … impact of macroeconomic and demographic factors on conventional insurance and Takāful demand. Income and financial sector …