Managing mismatch risk
The mismatch between assets and liabilities is the biggest single risk facing life insurance companies. Sunghyo Cho of Samsung Life Insurance describes his firm’s approach to managing this risk. By Saima Farooqi
One of the most intricate challenges facing any life insurance company is the matching of assets and liabilities. How can a firm match the duration on its asset and liability portfolios, when its liabilities are made up of life insurance policies stretching out as far as 20 or 30 years, and the longest available maturities on investments are often much shorter? And with yields so low, how can it
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