Legislation imposes insurance companies to project their assets and liabilities in various financial scenarios. Within the setup of with-profit life insurance, we consider retrospective reserves and bonus, and we study projection of balances with and without policyholder behavior. The projection...

Legislation imposes insurance companies to project their assets and liabilities. Within the setup of with-profit life insurance, we consider retrospective reserves and bonus, and we study projection of balances with and without policyholder behavior. The projection resides in a system of...

Life insurance companies face two types of risks: Financial risks and insurance risks. Financial risks can to a large extent be hedged by trading in the financial market, but there exists no such market for insurance risks. We suggest an alternative to hedge insurance risks. In a multi-state...

Life insurance companies have a great interest in the calculation of prospective reserve sinceit is an item on the balance sheet of the company. In this thesis, we de ne the prospectivereserve such that we can incorporate reserve-dependent payments and such that companymade decisions like...

In a setup of with-profit life insurance including bonus, we study the calculation of the market reserve, where Management Actions such as investment strategies and bonus allocation strategies depend on the reserve itself. Since future bonus payments depend on the retrospective savings account,...