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Longevity Risk (2nd Edition)
Discipline: Insurance, Investing, Regulation
No of pages: 620
First published:
ISBN: 9781782723882
Emma McWilliam returns with the highly anticipated, and fully updated, second edition of Longevity Risk. McWilliam, alongside two new co-editors (and Hymans Robertson colleagues) Howie Timothy and Matt Thomas, has assembled a roster of leading experts in the field of longevity.
Managing longevity risk requires an understanding of a wide range of issues, from the measurement of longevity risk for pricing, reserving and setting aside capital, to the management of risk through de-risking, reinsurance and capital markets solutions. These diverse topics are assiduously explored in this text by longevity thought leaders and practitioners, whose extensive experience cuts across disciplines, from (re)insurance to capital markets, from law to medicine and academia, as well as across the major longevity markets globally.
Contents
Foreword
Introduction
Ageing Populations and Changing Demographics
Determinants of Changes in Life Expectancy
Magnitude of the Longevity Issue
Pricing Longevity Risk: Establishing the Base Mortality Level
An Introduction to Credibility Theory
Projecting Future Mortality
Modelling Longevity Risk under a One-Year VaR Framework
Risk Transfer for Pension Schemes
De-Risking Insured Annuity Portfolios
Hedging Longevity Risk through Reinsurance
Commercial Aspects of Longevity Reinsurance
Extreme Mortality Risk as a Natural Hedge?
Capital Markets and Longevity Risk Transfer
Longevity Indices
Longevity Policy Committee
Legal Considerations and Challenges in Longevity Risk Transactions
Pensions and Longevity in the US
Canadian Pensioner Longevity Risk
The Dutch Pensions and Longevity Insurance Market