A new hedging approach for Asian variable annuities
Market demand is driving insurance companies to offer variable annuities in Asia ex-Japan, despite the rough ride they received from their first steps into this market. Insurers are taking a more cautious approach to risk this time around, but have they truly learnt their hedging lessons? Harry Thompson investigates
The Asian variable annuities (VA) market is far from homogenous – and has proven tough to crack. At one end of the spectrum lies Japan, which is second only to the US globally, in terms of size. The rest of Asia’s VA market lies more at the other end of the scale, and is patchy. Several isolated deals have been done in jurisdictions such as Hong Kong and Australia during the past five years, but they have had limited success. The only significant exception is Korea, which has seen rapid growth
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