Die anhaltenden Finanzierungsprobleme des Sozialstaats und die absehbaren Folgewirkungen des demografischen Wandels haben in der politischen und wissenschaftlichen Diskussion die Frage nach dem Verhältnis zwischen den Generationen aktuell werden lassen. Kennzeichnend für die häufig hoch...

The paper addresses the financial reorganization and corporate restructuring required in the aftermath of an asset bubble. Although much has been written about macroeconomic policies monetary and fiscal measures to abate and respond to bubbles, too little attention hasbeen given to the...

The purpose of this paper is to obtain approximations to the transition intensities defined for a multiple state model for Permanent Health Insurance (PHI) which enables us to analyse PHI claims by cause of disability...

In this paper we address the issue of how to establish the fair value of aninsurance-linked liability. This is done by considering the introduction into asimple, one-period market model of a new and quite general security (which, amongst other things, could be such a liability)...

Part I: Fundamentals of insurance business The origins and role of insurance in society -- The notion of risk and probability -- The insurance undertaking -- Regulation of the insurance industry -- Supervision and other Authorities -- The insurance business -- The insurance contract -- Life...

This textbook presents the fundamental economic dimensions of insurance companies and links them to managerial issues. Combining academic rigour and a strongly practice-oriented approach, it addresses both the competitive environment and the management of the insurance business. Further, it...