Optimal risk transfers in insurance groups


Vali Asimit

 et al.

Insurance groups often comprise a number of distinct legal entities, operating in different territories. Diversification across an insurance group is no trivial matter and the way it operates depends on the group's legal structure.

In comparison to previous literature on this topic, the focus here is on deriving optimal functional forms of risk transfers. Read the full article and let us know what you think.

Updated: 14/01/2013
Views: 4,269

A savings plan with targeted contributions


Iqbal Owadally

 et al.

With the cost of living on the rise and job certainty in doubt, many people are putting aside funds to meet a certain demand in the future. This could be for a child's education, a new property or a pension.

Two decisions must be made: how much the monthly contributions will be and where the money will be invested. This paper considers the first of those decisions. Would you prefer to save a fixed amount of money each month or alter your contributions according to income and circumstance?

Updated: 14/01/2013
Views: 3,934

UK state pension reform in a public choice framework

Social security systems for old age have been explicitly studied in a public choice framework for over 30 years. They illustrate extremely well the problems of allocating economic resources through a system of voting.

This paper examines the incentives facing voters to expand state pension provision and the possibilities of reducing state pension provision by increasing state pension age. As such it is of great relevance for the study of policy in ageing societies where implicit pension liabilities are increasing and will prove difficult to reduce.

Updated: 14/01/2013
Views: 4,813

Monetary policy, asset prices and actuarial practice


Philip Booth

The operation of monetary policy may have an impact on securities markets and asset values. This is of relevance to many in the actuarial industry, particularly to actuaries who work in non-bank financial institutions such as pension funds and insurance companies.

This review paper presents mainstream theories of monetary policy and draws out the implications that are regarded as most important for actuaries and actuarial research.

Updated: 14/01/2013
Views: 3,816

Optimal capital allocation principles

This paper develops a unifying framework for allocating the aggregate capital of a financial firm to its business units.

Updated: 05/01/2015
Comments: 33
Views: 18,003

Research into long term care for the elderly

Rickayzen and Walsh (2002), built a multiple state model which can be used to project the number of disabled people in the UK over the next 35 years. By focusing on the population who are over age 65 and projected to have severe disabilities, we are able to estimate the future long term care (LTC) demand over the next three decades.

Updated: 16/12/2014
Comments: 5
Views: 4,913

What is wrong with the chain ladder technique(?)

The title is both a statement and a question, and in the talk you will find a list of things that are wrong with the chain ladder technique but also a question asking whether it is so bad after all.

Updated: 31/12/2014
Comments: 10
Views: 16,956

Cass Ethics with professor Steven Haberman: ethics and insurance


Steven Haberman

 et al.

Steven Haberman, Professor of Actuarial Science and Director and Deputy Dean at Cass, discusses the bankruptcy of Equitable Life 10 years on, what has changed in the Insurance business and the challenges still faced by the industry.

Updated: 20/10/2011
Views: 6,600

Longevity hedging: a framework for longevity basis risk analysis and hedge effectiveness


Guy Coughlan

 et al.

Basis risk is an important consideration when hedging longevity risk with instruments based on longevity indices, since the longevity experience of the hedged exposure may differ from that of the index.

Updated: 01/01/2015
Comments: 7
Views: 5,828