Summary |
The papers in this book were prepared for the Symposium on Life Insurance Company Financial Management, held at the Wharton School in November of 1992.
The theme of this book is financial management, i.e., management of life insures using techniques drawn from the field of fiancé. The importance of financial management has increased greatly in recent years, paralleling the growth in competition within the financial services industry. This competitive environment reflects an increasing financial sophistication among insurance consumers as well as the blurring of the lines that traditionally separated different types of financial institutions. To succeed in today’s business environment, insurers must use financial techniques such as asset-liability management, financial hedging, futures, and options. They also must be increasingly precise in measuring the tradeoffs between risk and return in both their asset and product portfolios. These issues are the subject of this book.
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