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Tag: variable annuities

PRICING AND HEDGING OF GUARANTEED MINIMUM BENEFITS IN VARIABLE ANNUITIES

The shift from defined benefit to defined contribution superannuation schemes within developed countries has correspondingly increased the importance of retirement savings and investment plans. Variable annuities (VAs) with guaranteed minimum benefits (GMBs) are gaining in popularity as products that can meet the demands of the ageing population. However, guaranteeing policyholders a minimum level of return

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