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Author: David F. Babbel Publisher: John Wiley & Sons ISBN: 9781883249472 Category : Business & Economics Languages : en Pages : 588
Book Description
Investment Management for Insurers details all phases of the investment management process for insurers as well as fixed income instruments and derivatives and state-of-the-art analytical tools for valuing securities and measuring risk. Complete coverage includes: a general overview of issues, fixed income products, valuation, measuring and controlling interest rate risk, and equity portfolio management.
Author: David F. Babbel Publisher: John Wiley & Sons ISBN: 9781883249472 Category : Business & Economics Languages : en Pages : 588
Book Description
Investment Management for Insurers details all phases of the investment management process for insurers as well as fixed income instruments and derivatives and state-of-the-art analytical tools for valuing securities and measuring risk. Complete coverage includes: a general overview of issues, fixed income products, valuation, measuring and controlling interest rate risk, and equity portfolio management.
Author: Mary Hardy Publisher: John Wiley & Sons ISBN: 0471392901 Category : Business & Economics Languages : en Pages : 309
Book Description
A comprehensive guide to investment guarantees in equity-linked life insurance Due to the convergence of financial and insurance markets, new forms of investment guarantees are emerging which require financial service professionals to become savvier in modeling and risk management. With chapters that discuss stock return models, dynamic hedging, risk measures, Markov Chain Monte Carlo estimation, and much more, this one-stop reference contains the valuable insights and proven techniques that will allow readers to better understand the theory and practice of investment guarantees and equity-linked insurance policies. Mary Hardy, PhD (Waterloo, Ontario, Canada), is an Associate Professor and Associate Chair of Actuarial Science at the University of Waterloo and is a Fellow of the Institute of Actuaries and an Associate of the Society of Actuaries, where she is a frequent speaker. Her research covers topics in life insurance solvency and risk management, with particular emphasis on equity-linked insurance. Hardy is an Associate Editor of the North American Actuarial Journal and the ASTIN Bulletin and is a Deputy Editor of the British Actuarial Journal.
Author: Kathrin Glau Publisher: World Scientific ISBN: 9813272570 Category : Business & Economics Languages : en Pages : 468
Book Description
This book covers recent developments in the interdisciplinary fields of actuarial science, quantitative finance, risk- and asset management. The authors are leading experts from academia and practice who participated in Innovations in Insurance, Risk- and Asset Management, an international conference held at the Technical University of Munich in 2017.The topics covered include the mathematics of extreme risks, systemic risk, model uncertainty, interest rate and hybrid models, alternative investments, dynamic investment strategies, quantitative risk management, asset liability management, liability driven investments, and behavioral finance.This timely selection of topics is highly relevant for the financial industry and addresses current issues both from an academic as well as from a practitioner's point of view.
Author: Kyeonghee Kim Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Life insurers play a major role as institutional investors in the financial markets, and their investment behavior receives considerable attention from regulators, policyholders, and participants of financial markets. In this thesis, I examine the investment management of U.S. life insurers. The thesis is comprised of two essays. In the first essay, I study the effects of investment advisor use on life insurers' investment performance. Using a measure of investment performance that accounts for investment risk and regulatory constraints, I find that life insurers experience an economically and statistically significant increase in investment returns when they start using an investment advisor. The performance increase, however, disappears over time. The investment performance effect of an investment advisor is not observed for life insurers that continuously use an investment advisor nor life insurers that switch away from using an investment advisor during the sample period. The results are robust to potential selection issues and alternative explanations. In the second essay, I study a unique type of reinsurance, modified coinsurance, which enables life insurance companies to transfer their investment risk to the reinsurer. When this reinsurance is arranged with an unaffiliated reinsurer or with affiliated foreign reinsurers, it provides risk-based capital (RBC) relief for life insurers with risky assets. I find that life insurers using this RBC-relief reinsurance hold more risky bonds but less capital than life insurers that do not use this type of reinsurance. Our findings, however, are not free of endogeneity problems because life insurers are not randomly assigned to use RBC-relief reinsurance and a life insurer's investment and capital decisions are jointly determined based on their regulatory capital requirements. In future work, I will use exogenous shocks to the bonds that life insurers hold to identify the causality between a life insurer's use of RBC-relief reinsurance and its investment and capital decisions.
Author: Vinay Couto Publisher: John Wiley & Sons ISBN: 1119268532 Category : Business & Economics Languages : en Pages : 296
Book Description
A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. *Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States
Author: Debevoise & Plimpton Llp Publisher: ISBN: 9781402423710 Category : Consolidation and merger of corporations Languages : en Pages : 448
Book Description
An evolving regulatory landscape and changing economic conditions continue to affect business organization and capital requirements in the global insurance industry, leading to new participants, new transactions, and new challenges. PLI's new Insurance and Investment Management M&A Deskbook provides attorneys with an essential reference to keep up with emerging trends in insurance and investment management M&A. The Deskbook covers topics such as acquisitions of public insurance companies, blocks of insurance business and private acquisitions; the regulatory environment of the insurance industry and the financial services industry; investment in the insurance industry by private equity and pension funds; and the expansion of insurance industry participants into emerging markets around the globe. The Deskbook also provides specific guidance for understanding Lloyd's of London and the M&A market for mutual life insurers.
Author: Jay Lee Publisher: Springer Science & Business Media ISBN: 1447149939 Category : Technology & Engineering Languages : en Pages : 691
Book Description
This text represents state-of-the-art trends and developments in the emerging field of engineering asset management as presented at the Sixth World Congress on Engineering Asset Management (WCEAM) held in Cincinnati, OH, USA from October 3-5, 2011 The Proceedings of the WCEAM 2011 is an excellent reference for practitioners, researchers and students in the multidisciplinary field of asset management, covering topics such as: Asset condition monitoring and intelligent maintenance; Asset data warehousing, data mining and fusion; Asset performance and level-of-service models; Design and lifecycle integrity of physical assets; Deterioration and preservation models for assets; Education and training in asset management; Engineering standards in asset management; Fault diagnosis and prognostics; Financial analysis methods for physical assets; Human dimensions in integrated asset management; Information quality management; Information systems and knowledge management; Intelligent maintenance; Intelligent sensors and devices; Maintenance strategies in asset management; Optimization decisions in asset management; Prognostics & Health Management; Risk management in asset management; Strategic asset management; and Sustainability in asset management.
Author: Frank J. Fabozzi Publisher: John Wiley & Sons ISBN: 0471485918 Category : Business & Economics Languages : en Pages : 545
Book Description
Measuring and Controlling Interest Rate and Credit Risk provides keys to using derivatives to control interest rate risk and credit risk, and controlling interest rate risk in a mortgage-backed securities derivative portfolio. This book includes information on measuring yield curve risk, swaps and exchange-traded options, TC options and related products, and describes how to measure and control the interest rate of risk of a bond portfolio or trading position. Measuring and Controlling Interest Rate and Credit Risk is a systematic evaluation of how to measure and control the interest rate risk and credit risk of a bond portfolio or trading position, defining key points in the process of risk management as related to financial situations. The authors construct a verbal flow chart, defining and illustrating interest rate risk and credit risk in regards to valuation, probability distributions, forecasting yield volatility, correlation and regression analyses. Hedging instruments discussed include futures contracts, interest rate swaps, exchange traded options, OTC options, and credit derivatives. The text includes calculated examples and readers will learn how to measure and control the interest rate risk and credit risk of a bond portfolio or trading position. They will discover value at risk approaches, valuation, probability distributions, yield volatility, futures, interest rate swaps, exchange traded funds; and find in-depth, up-to-date information on measuring interest rate with derivatives, quantifying the results of positions, and hedging. Frank J. Fabozzi (New Hope, PA) is a financial consultant, the Editor of the Journal of Portfolio Management, and an Adjunct Professor of Finance at Yale University?s School of Management. Steven V. Mann (Columbia, SC) is Professor of Finance at the Moore School of Business, University of South Carolina. Moorad Choudhry (Surrey, UK) is a Vice President with JPMorgan Chase structured finance services in London. Moorad Choudhry (Surrey, England) is a senior Fellow at the Centre for Mathematical Trading and Finance, CASS Business School, London, and is Editor of the Journal of Bond Trading and Management. He has authored a number of books on fixed income analysis and the capital markets. Moorad began his City career with ABN Amro Hoare Govett Sterling Bonds Limited, where he worked as a gilt-edged market maker, and Hambros Bank Limited where he was a sterling proprietary trader. He is currently a vice-president in Structured Finance Services with JPMorgan Chase Bank in London.
Author: David F. Babbel
Author: David F. Babbel
Author: Edmund A. Mennis
Author: Mary Hardy
Author: Kathrin Glau
Author: Kyeonghee Kim
Author: Vinay Couto
Author: 
Author: Debevoise & Plimpton Llp
Author: Jay Lee
Author: Frank J. Fabozzi