Deregulation and widespread economic changes have fundamentally affected the business
environment of European life insurance companies over the last decades. We apply multi …

With the largest data set ever used for this purpose (covering more than 1 million contracts),
we analyze the impact of product and policyholder characteristics on lapse in the life …

Life settlements (LSs) can be considered a novel and innovative financial asset in countries
where they are not yet established. This paper aims to assess the attitude (ATT) of …

This paper studies the determinants of lapse in the German life insurance industry. Logistic
regression models are employed using data on macroeconomic indicators and company …

We analyze life insurance policy surrender activity to determine whether surrender is a
function of certain macroeconomic variables and, therefore, highly correlated across …

Proper pricing and risk assessment of implicit options in life insurance contracts has gained
substantial attention in recent years, which is reflected in a growing literature in this field. In …

The article presents a review of structural models of policyholder behavior in life insurance.
We first discuss underlying drivers of policyholder behavior in theory and survey the …

Life insurance policy lapses are detrimental to issuing insurers when lapses substantially
deviate from insurer expectations. The extant literature has proposed and tested, using …

The financial guarantees embedded in variable annuity contracts expose insurers to a wide
range of risks, lapse risk being one of them. When policyholders' lapse behavior differs from …

We analyze the effects of life insurance settlement on insurance contract design, the
insurer's profit and welfare. Policyholders face not only mortality risks but also …