Insurance
Uncertain outcomes – insurers and pension funds tackle inflation risk
With central banks’ discount windows pouring money out at rock-bottom rates but economies still slow to use up excess capacity, the outlook for inflation has never been murkier. Uncertainty has created arbitrage opportunities for inflation risk managers…
Insurers prepare for M&A explosion
A number of drivers could push financial groups to dispose of life insurance assets in the near future. But a boom in M&A will also need buyers, which could prove difficult to find. By John Ferry
LLMA on course to publish first longevity index by end of 2010
LLMA will add a fillip to longevity derisking market with standardised indices
PPF offers potential £80 billion boost to longevity market
UK’s PPF is open to longevity derisking – at the right price
Pensions face RPI-CPI basis risk
Pension pricing peril
EC approves Aegon bailout without forcing coupon deferrment
Absence of measures forcing payments to Dutch state at expense of subordinated debt holders means Fitch upgrades firm's hybrid capital
Hedging costs to soar for UK pension funds
Best of RPI and CPI exposure will cost up to 100 basis points to hedge, as well as increase the size of liabilities, say participants
FTSE100 market values dwarfed by scheme deficits
For three firms, pension liabilities are more than double their equity market value
Asia Risk 15: Mastering mismatches by using ALM risk tools
The development of domestic bond markets and longer-dated hedging instruments in Asia during the past 15 years has helped insurers to manage their duration mismatches. But there is still a long way to go. By William Rhode*
Cat bonds set to become new face of structured credit, say Axa chiefs
Two senior heads at Axa Investment Managers anticipate escalating demand for catastrophe bonds.
Korean linker volumes soar after introduction of deflation floors
The resumption of issuance of government linkers, which now include deflation floors, should aid the development of inflation derivatives in South Korea
Morgan Stanley and UBS boost LLMA membership to 10
Life & Longevity Markets Association gains momentum
Shift to CPI will not impact pension fund inflation hedging demand – M&G
Limited impact of CPI change on pension funds inflation hedging
OECD urges pension regulators to reduce importance of market consistency in stressed periods
OECD argues market values should not drive pension regulation
The longevity challenge of care annuities
For most of the life industry, getting policyholder longevity predictions accurate to a few months of the realised experience would be cause for celebration. But for care annuity provider Partnership, this level of accuracy could be disastrous. Aaron…
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…
MCEV – the quest for market consistency
After the extreme volatility of 2008 spoiled the MCEV launch party, investors have been understandably wary of the way some firms have taken a hardline stance on market consistency. Now the variance in how non-hedgable risks are assessed is what is…
Raj Singh interview: lesson for the future
The credit crisis has impacted the whole reinsurance sector, but, according to Raj Singh, chief risk officer at Swiss Re, at least it has taught the industry useful lessons for the future. Sarfraz Thind reports
Sampension moves to intentional guarantees
Copenhagen fund agrees to move to intentional guarantees to avoid Solvency II charges
Solvency II to push annuity providers to gilts
Fitch analysts say demand for corporate bonds could drop as Solvency II forces UK insurers to opt for gilts
Subdued times for buyouts
Dan DeKeizer, chief executive of MetLife Assurance, talks to Alexander Campbell
Variable annuities face more hedging challenges in Asia
Variable returns
Profile: Swiss Re's Raj Singh
Predicitng the unthinkable