scholarly journals Pricing of Longevity Derivatives and Cost of Capital

Risks ◽  
2019 ◽  
Vol 7 (2) ◽  
pp. 41 ◽  
Author(s):  
Fadoua Zeddouk ◽  
Pierre Devolder
Keyword(s):  
Financial Markets ◽  
Time Horizon ◽  
Cost Of Capital ◽  
Solvency Ii ◽  
Longevity Risk ◽  
Policy Makers ◽  
Academic Researchers ◽  
Belgian Population ◽  
One Year ◽  
Longevity Bonds

Annuities providers become more and more exposed to longevity risk due to the increase in life expectancy. To hedge this risk, new longevity derivatives have been proposed (longevity bonds, q-forwards, S-swaps…). Although academic researchers, policy makers and practitioners have talked about it for years, longevity-linked securities are not widely traded in financial markets, due in particular to the pricing difficulty. In this paper, we compare different existing pricing methods and propose a Cost of Capital approach. Our method is designed to be more consistent with Solvency II requirement (longevity risk assessment is based on a one year time horizon). The price of longevity risk is determined for a S-forward and a S-swap but can be used to price other longevity-linked securities. We also compare this Cost of capital method with some classical pricing approaches. The Hull and White and CIR extended models are used to represent the evolution of mortality over time. We use data for Belgian population to derive prices for the proposed longevity linked securities based on the different methods.

scholarly journals MODELING THE MORTALITY TREND UNDER MODERN SOLVENCY REGIMES

2013 ◽  
Vol 44 (1) ◽  
pp. 1-38 ◽  
Author(s):  
Matthias Börger ◽  
Daniel Fleischer ◽  
Nikita Kuksin
Keyword(s):  
Solvency Ii ◽  
Capital Requirements ◽  
Longevity Risk ◽  
Mortality Trend ◽  
Swiss Solvency Test ◽  
Solvency Capital ◽  
Simultaneous Modeling ◽  
One Year ◽  
The One ◽  
Solvency Regimes

AbstractStochastic modeling of mortality/longevity risks is necessary for internal models of (re)insurers under the new solvency regimes, such as Solvency II and the Swiss Solvency Test. In this paper, we propose a mortality model which fulfills all requirements imposed by these regimes. We show how the model can be calibrated and applied to the simultaneous modeling of both mortality and longevity risk for several populations. The main contribution of this paper is a stochastic trend component which explicitly models changes in the long-term mortality trend assumption over time. This allows to quantify mortality and longevity risk over the one-year time horizon prescribed by the solvency regimes without relying on nested simulations. We illustrate the practical ability of our model by calculating solvency capital requirements for some example portfolios, and we compare these capital requirements with those from the Solvency II standard formula.

Study on Causes of Female Infertility at National Ayurveda Teaching Hospital, Borella, Sri Lanka: A Survey Based Study

2017 ◽  
Vol 3 (1) ◽  
pp. 249-252
Author(s):  
Farzana MUZN ◽  
Arshiya Sultana
Keyword(s):  
Sri Lanka ◽  
Teaching Hospital ◽  
Married Women ◽  
Female Infertility ◽  
Policy Makers ◽  
Complex Disorder ◽  
Anovulatory Cycle ◽  
Common Causes ◽  
Increasing Trend ◽  
One Year

Background: Infertility is defined as the inability to conceive after at least one year of unprotected intercourse. It is a complex disorder with significant medical, psychosocial, and economic problems. In about one third of couples are infertile. Approximately 167 million married women aged 15-49 years in developing countries were infertility. The present study aimed to determine the most common causes of female infertility in patients who visiting the National Ayuvedic Teaching Hospital, Borella, Sri Lanka. Methods: In this study 635 infertile (primary and secondary) women were selected to determine the causes of infertility. The subjects were selected from the gynecology clinic, between the periods of February 2015 to March 2016. The data were gathered using a questionnaire; and after that proper statistical method was applied to analyze the data. Results: From the results age between 28-37 years (37.16%) are more prevalent to infertility and the causes of infertility are mainly due to anovulatory cycle (31.18%) and menstrual irregularities (19.21%). BMI also one of the significant cause for infertility. Conclusion: Therefore, identifying the risk factors and proper treatment on time along with policy makers providing facilities to resolve the infertility could possible diverse this alarming increasing trend of infertility.

Effects of Financial Inclusion on Startup Establishment in OECD Countries

2018 ◽  
Vol 34 (1) ◽  
Author(s):  
Dinh Thi Thanh Van ◽  
Nguyen Thuc Trang
Keyword(s):  
Success Factors ◽  
Oecd Countries ◽  
Financial Inclusion ◽  
Economic Research ◽  
Mobile Banking ◽  
Policy Makers ◽  
Academic Researchers ◽  
Financial Index ◽  
Enterprise Survey

Financial inclusion and startup are two topics, which recently get attention of academic researchers and policy makers in Vietnam. One of the important factors for setting up a successful startup is the financial capability of the owners. Therefore, financial inclusion has a strong correlation with startup establishment. This article tested the effects of several factors in financial index (findex) developed by World Bank on startup establishment in some OECD countries. The result showed that borrowing from friends and relatives along with from credit institutions and opening a debit account at banks have  significant impacts on startup establishment in these countries. Finally, the article presented several recommendations for policy makers to stimulate the startup growth in Vietnam in the next time. Key words startup, financial inclusion, startup establishment References 1. Colman Msoka (2015), “Financial inclusion and microfinance in Tanzania”, Inclusive growth: Tanzania Country Report2. Endeavor-GEM, 2011, “High-Impact Entrepreneurship Global Report”3. Eric Ries, 2012, “The Lean Startup” book”, http://www.stpia.ir/files/The%20Lean%20Startup%20.pdf 4. European Startup Monitor, 2015, “European Startup Monitor 2015”, http://europeanstartupmonitor.com/fileadmin/presse/download/esm_2015.pdf 5. Jennifer Dahlin Ivarsson (2014), “Mobile-banking and entrepreneurship: Is there a link? A case study on South Africa”, Nationalekonomiska Institutionen, Box 7082, ISSN 0283 – 15896. Maher Al-Mahouq (2010), “Success factors of small and medium-sized enterprises(SMEs): The case of Jordan”, Anadol University jourmal of social sciences, Cilt/Vol.: 10 – Say/No:1-16 (2010)7. Mohammed S.Chowdhury (2013), “Success factors of entrepreneurs of small and medium sized enterprises: Evidence from Banladesh”, Business and Economic Research, ISSN 2162 – 4860, 2013, Vol.3, No.2.8. OECD, 2015, “Entrepreneurship at a Glance 2015”9. Roman Angela, 2011, “SME’s sector access to finance: An overview”10. Yao Wang, 2014, “What are the biggest obstacles to growth of SMEs in developing countries? An empirical evidence from an enterprise survey”, JED 210 Paper

scholarly journals Despite vaccination, China needs non-pharmaceutical interventions to prevent widespread outbreaks of COVID-19 in 2021

2021 ◽  
Author(s):  
Juan Yang ◽  
Valentina Marziano ◽  
Xiaowei Deng ◽  
Giorgio Guzzetta ◽  
Juanjuan Zhang ◽  
...  
Keyword(s):  
Reproduction Number ◽  
Synergetic Effect ◽  
Data Driven ◽  
Natural Immunity ◽  
Epidemic Threshold ◽  
Policy Makers ◽  
Large Populations ◽  
One Year ◽  
Pharmaceutical Interventions

AbstractCOVID-19 vaccination is being conducted in over 200 countries and regions to control SARS-CoV-2 transmission and return to a pre-pandemic lifestyle. However, understanding when non-pharmaceutical interventions (NPIs) can be lifted as immunity builds up remains a key question for policy makers. To address this, we built a data-driven model of SARS-CoV-2 transmission for China. We estimated that, to prevent the escalation of local outbreaks to widespread epidemics, stringent NPIs need to remain in place at least one year after the start of vaccination. Should NPIs alone be capable of keeping the reproduction number (Rt) around 1.3, the synergetic effect of NPIs and vaccination could reduce the COVID-19 burden by up to 99% and bring Rt below the epidemic threshold in about 9 months. Maintaining strict NPIs throughout 2021 is of paramount importance to reduce COVID-19 burden while vaccines are distributed to the population, especially in large populations with little natural immunity.

From research desk to policy makers and community: MUHAS research symposia and policy briefs targeting the stakeholders

2020 ◽  
Vol 31 (1) ◽  
pp. 120-122
Author(s):  
Hendry R. Sawe ◽  
Bruno F. Sunguya ◽  
Eligius F. Lyamuya
Keyword(s):  
Research Output ◽  
Research Work ◽  
Health Impact ◽  
Scientific Journals ◽  
Child Transmission ◽  
Policy Makers ◽  
One Year ◽  
The Impact ◽  
Mother To Child ◽  
Different Parts

All too frequent, valuable research output and scholarly materials from expensively conducted research work in different parts of the world end up in research desks, academic libraries, and scientific journals. Muhimbili University of Health and Allied Science (MUHAS) through the Directorate of Research and Publications initiated a series of symposia that aim to disseminate the evidence generated by the researchers to the policy makers and the community. In two of the six conducted University-wide symposia in the last one year, MUHAS produced two important policy briefs summarizing the impact of MUHAS research in two important—though distinct areas of local and global health impact—Elimination of Mother to Child Transmission (EMTCT) of HIV, and Diarrhea diseases.

scholarly journals Sharing Longevity Risk: Why Governments Should Issue Longevity Bonds

2010 ◽  
Author(s):  
David P. Blake ◽  
Tom Boardman ◽  
Andrew J. G. Cairns
Keyword(s):  
Longevity Risk ◽  
Longevity Bonds

NGOs management: a roadmap to effective practices

2018 ◽  
Vol 9 (4) ◽  
pp. 372-387 ◽  
Author(s):  
Mohammed Aboramadan
Keyword(s):  
Conceptual Framework ◽  
Design Methodology ◽  
Private Companies ◽  
Policy Makers ◽  
Business World ◽  
Content Type ◽  
Governmental Organizations ◽  
Non Governmental Organizations ◽  
One Year ◽  
Management Functions

Purpose From one year to another, more researchers join in the ever-growing field of interest of non-governmental organizations (NGOs). Nevertheless, the literature on NGOs management is not as rich as what has been developed for private companies and bodies in the business world. The purpose of this paper is to propose a framework for managing NGOs effectively. Design/methodology/approach Reviewing the literature on NGOs management from different areas, the paper proposes a conceptual framework. Findings The paper provides a conceptual framework on how different management functions are involved in a mutual framework for managing NGOs. Research limitations/implications The author needs to empirically test the suggested framework using qualitative and qualitative techniques. Originality/value The author’s perspective on NGOs management is a subject of great interest for different NGOs stakeholders including: donors, communities, volunteers, managers and policy-makers.

Sign in / Sign up

Export Citation Format

Share Document