Sustainable Life Insurance: Managing Risk Appetite for Insurance Savings and Retirement Products

ISBN-13: 9781032081557 / Angielski / Twarda / 2023 / 392 str.

Aymeric Kalife; Mouti Saad; Ludovic Gouden?ge

Opis

Sustainable Life Insurance: Managing Risk Appetite for Insurance Savings and Retirement Products gives an overview of all relevant aspects of traditional and non-traditional savings and retirement products from both insurers’ and policyholders’ respective risk appetites. Examples of such products include general accounts, whole life, annuities (variable, fixed and fixed indexed, structured), index linked products, CPPI-based products etc.

The book contains technical details associated with both practice and theory, specifically related to modelling, product design, investments and risk management challenges and solutions, tailored to both insurers’ and policyholders’ perspectives.

Features

• Offers not only theoretical background but also concrete, cutting-edge "quick wins" across strategic and operational business axes.
• An asset for professionals in the insurance industry, and a great teaching/learning resource for courses in Risk Management, Insurance Modelling, and more.
• Highlights operational challenges across modelling, product designs and hedging.

Spis treści

Introduction. 1. The transformation of the Risk Appetite for Sustainable Savings and Retirement. 1.1. The transformation of the insurance business since the past decade. 1.2. Securing long-term sustainable business growth: from Governance to effective risk management. 2. Products Risk Appetite for Sustainable Savings and Retirement. 2.1. The increasingly selective customer’ Risk Appetite across the four axes: yields/flexibility/financial guarantees/cost. 2.2. Meeting both shareholders and policyholders Appetites through sustainable Capital-light products? 3. Measuring Risk Appetite for Sustainable Savings and Retirement. 3.1. Considerations on Risk-neutral vs. Real-world pricing framework. 3.2. Hybrid Financial Risks Modelling for Sustainable Savings and Retirement. 3.3. Computational challenges and opportunities: accelerating the computational Run Time by Speeding up the convergence of Monte Carlo simulations. 4. Designing Products aligned with Risk Appetite for Sustainable Savings and Retirement. 4.1. Screening sustainable opportunities balancing shareholders vs. customers’ interests within persistent low rates and growing regulatory constraints. 4.2 Sustainable Liabilities designs enhancements. 4.3 Sustainable Investment Assets designs. 5. Hedging Risks aligned with Risk Appetite for Sustainable Savings and Retirement. 5.1. Hedging principles, processes and PandL attribution. 5.2. From Dynamic hedging to Semi-static hedging. 5.3. Managing hedging liquidity constraints. Bibliography.