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Document type:
Zeitschriftenaufsatz 
Author(s):
Chen, A.; Hieber, P. 
Title:
Optimal Asset Allocation in Life Insurance: The Impact of Regulation. 
Abstract:
In a typical equity-linked life insurance contract, the insurance company is entitled to a share of return surpluses as compensation for the return guarantee granted to the policyholders. The set of possible contract terms might, however, be restricted by a regulatory default constraint — a fact that can force the two parties to initiate sub-optimal insurance contracts. We show that this effect can be mitigated if regulatory policy is more flexible. We suggest that the regulator implement a traf...    »
 
Journal title:
ASTIN Bulletin 
Year:
2016 
Journal volume:
No. 3 
Journal issue:
Vol. 46 
Pages contribution:
605-626