Mass lapse risk in European life insurance : a gray rhino awakening

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      <subfield code="a">Mass lapse risk in European life insurance</subfield>
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      <subfield code="a">The macroeconomic drivers of a mass lapse event are difficult to predict. An individual insurance company could be hit with operational or credit issues, or even a cyber attack, which, coupled with negative publicity, could persudade policyholders. In marketwide terms, a change in the regulatory structure of a particular jurisdiction, could create structural issues for life insurers that might ultimately spook policyholders. However, if domestic life insurers are able to access reinsurance capacity from international carriers, this can help spread out the mass lapse risk over a diverse geographical portfolio</subfield>
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