Summary |
This new book provides, for the first time, a comprehensive analysis of the variable annuity marketplace, the use of these products and the challenges associated with the risk-management of these products that have been compounded by the recent financial crisis.
In Variable Annuities more than 25 leading market experts reveal how industry tools are changing, how strategies are being reshaped; how techniques are being enhanced and explore:
• Identifying and quantifying risks: including methods for tackling actuarial/policyholder risks, basis risk, market risk, valuation of contracts and guarantees
• Risk management strategies: the use of product design to manage risks and reduce unhedgeable exposure, reinsurance contracts and OTC instruments
• Hedging: measuring hedge efficiency and effectiveness, lessons of the crisis
• Product types and markets: North America, Japan, Europe and Asia-Pacific
• Accounting and regulation: the challenges of IFRS and GAAP
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