Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/287182 
Erscheinungsjahr: 
2021
Quellenangabe: 
[Journal:] Financial Markets and Portfolio Management [ISSN:] 2373-8529 [Volume:] 35 [Issue:] 2 [Publisher:] Springer US [Place:] New York, NY [Year:] 2021 [Pages:] 193-224
Verlag: 
Springer US, New York, NY
Zusammenfassung: 
Dynamic hybrid products emerged in 2007 and are now well established in the German life insurance market. In this article, we study interaction effects between dynamic hybrid products and traditional deferred annuity contracts, that are sold by the same insurance company. The key question we investigate is whether the presence of dynamic hybrid products has a negative effect on the payout of traditional insurance products. We do so by using data drawn from a Monte Carlo simulation that is based on a model presented in this article. These data reveal that dynamic hybrid products reduce the payment to policyholders of traditional deferred annuities via the channel of surplus participation.
Schlagwörter: 
Life insurance
Guaranteed interest rates
Dynamic hybrid
Constant proportion portfolio insurance
Customer value
DTH product
Insurance regulation
JEL: 
G18
G22
Persistent Identifier der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
cc-by Logo
Dokumentart: 
Article
Dokumentversion: 
Published Version

Datei(en):
Datei
Größe





Publikationen in EconStor sind urheberrechtlich geschützt.