Assessing insurer guarantee cover and risk retention toward SDG 3: a structure-break downand-out call valuation.

doi:10.1057/s41599-024-03866-w

淡江大學機構典藏 > 商管學院 > 國際企業學系暨研究所 > 期刊論文 > Item 987654321/126367

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題名:	Assessing insurer guarantee cover and risk retention toward SDG 3: a structure-break downand-out call valuation.
作者:	Li, Xuelian;Chiu, Shiu-Chieh;Lin, Jyh-Horng;Xie, Yuxin
日期:	2024-10-04
上傳時間:	2024-10-08 12:05:50 (UTC+8)
出版者:	HUMANITIES AND SOCIAL SCIENCES COMMUNICATIONS
摘要:	The paper develops a down-and-out call option to evaluate the equity of a life insurer. The COVID-19 pandemic challenges captured by the premature feature of the down-and-out call option are also identified as structural breaks incorporated into the contingent claim option. Hedging, shown by the guarantee cover ratio, reflects the insurer’s ability to meet policy commitments. Reinsurance, indicated by the risk retention ratio, distributes insurance risk between the insurer and reinsurer. The insurer engages in those practices aligned with Sustainable Development Goal 3 (SDG 3: good health and well-being). The main findings are as follows. The COVID-19 pandemic harms policyholder protection and deviates from SDG 3 due to financial instability. However, strategic hedging, reinsurance, and government capital injections enhance policy assurances, achieving SDG 3 by increasing payments to policyholders and improving financial stability. Moreover, the risk retention ratio increases during severe COVID-19 periods but decreases with more government capital injections, which can substitute for risk retention. Policy implications suggest that policymakers can mitigate crisis impacts on insurer capacity to fulfill commitments, thereby enhancing life insurance stability and well-being aligned with SDG 3.
關聯:	Humanit Soc Sci Commun 11, 1332.
DOI:	10.1057/s41599-024-03866-w
顯示於類別:	[國際企業學系暨研究所] 期刊論文

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