From intertemporal smoothing to intergenerational risk sharing : the effects of diferent return smoothing mechanisms in life insurance
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| 100 | $0MAPA20100039014$aKling, Alexander | ||
| 245 | 1 | 0 | $aFrom intertemporal smoothing to intergenerational risk sharing$b: the effects of diferent return smoothing mechanisms in life insurance$cAlexander Kling, Timon Kramer and Jochen Ruß |
| 520 | $aThe document provides an in-depth analysis of various return-smoothing mechanisms applied in traditional life insurance products. It compares models based on historical averaging with others that employ collective accounts or buffers, assessing how each method affects annual volatility, risk-sharing, and the final wealth distribution of policyholders. The study shows that mechanisms relying solely on historical averages reduce year-to-year volatility but have little impact on overall maturity risk. In contrast, buffer-based systems can create genuine intergenerational risk-sharing and reduce uncertainty in the final outcome without affecting expected returns. The article also discusses implications for product design, regulation, and efficiency in retirement savings | ||
| 650 | 4 | $0MAPA20080608538$aSeguros de vida riesgo | |
| 650 | 4 | $0MAPA20140008254$aAhorro a largo plazo | |
| 650 | 4 | $0MAPA20080592011$aModelos actuariales | |
| 650 | 4 | $0MAPA20080582418$aRiesgo financiero | |
| 700 | 1 | $0MAPA20260002422$aKramer, Timon | |
| 700 | 1 | $0MAPA20140026906$aRuß, Jochen | |
| 710 | 2 | $0MAPA20180008764$aSpringer | |
| 773 | 0 | $wMAP20220007085$g11/08/2025 Volume 15 - Number 2 - August 2025 , p. 859 - 884$tEuropean Actuarial Journal$dCham, Switzerland : Springer Nature Switzerland AG, 2021-2022 |