Investment Guarantees by Mary Hardy

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Investment Guarantees by Mary Hardy

About Course

Investment Guarantees by Mary Hardy

A comprehensive guide to investment guarantees in equity-linked life insurance

Due to the convergence of financial and insurance markets, new forms of investment guarantees are emerging which require financial service professionals to become savvier in modeling and risk management. With chapters that discuss stock return models, dynamic hedging, risk measures, Markov Chain Monte Carlo estimation, and much more, this one-stop reference contains the valuable insights and proven techniques that will allow readers to better understand the theory and practice of investment guarantees and equity-linked insurance policies. Also

Mary Hardy, PhD (Waterloo, Ontario, Canada), is an Associate Professor and Associate Chair of Actuarial Science at the University of Waterloo and is a Fellow of the Institute of Actuaries and an Associate of the Society of Actuaries, where she is a frequent speaker. Her research covers topics in life insurance solvency and risk management, with particular emphasis on equity-linked insurance. Hardy is an Associate Editor of the North American Actuarial Journal and the ASTIN Bulletin and is a Deputy Editor of the British Actuarial Journal. Also

Introduction. Also

Investment Guarantees.

Modeling Long-Term Stock Return. Also

Maximum Likelihood Estimation for Stock Return Models.

The Left-Tail Calibration Method.

Markov Chain Monte Carlo (MCMC) Estimation. Also

Modeling the Guarantee Liability.

A Review of Option Pricing Theory. Also

Dynamic Hedging for Separate Account Guarantees.

Risk Measures. Also

Emerging Cost Analysis.

Forecast Uncertainty. Also

Guaranteed Annuity Options.

Equity-Indexed Annuities.

Appendix A: Mortality and Survival Probabilities. Also

And appendix B: The GMAB Option Price.

Appendix C: Actuarial Notation. Also

And appendix D: References.

Index. Also

Author Information

MARY HARDY is an Associate Professor and Associate Chair of Actuarial Science at the University of Waterloo, a Fellow of the Institute of Actuaries, and an Associate of the Society of Actuaries. Also