Shadow banking and life insurance policyholder protection
學年 110
學期 2
出版(發表)日期 2022-02-10
作品名稱 Shadow banking and life insurance policyholder protection
著者 Chuen-Ping Chang; Shi Chen; Jyh-Jiuan Lin
著錄名稱、卷期、頁數 Argumenta Oeconomica 49(2), p.199-218
摘要 This paper develops a life insurance liability valuation model that integrates the balance-sheet insurer loans with the shadow banking entrusted loans in a premature default risk environment. It is shown that the life insurance policyholder significantly benefits from the entrusted loan activities in a less likely premature default risk environment. The policyholder protection is increased in accord with a high guaranteed interest rate, particularly when the life insurance company has ample access to entrusted loans. The policyholder protection is also significantly increased by a high participation level when the life insurance company ‘shrinks away’ from accessing entrusted loans. Overall, the authors concluded that shadow banking entrusted loans help policyholder protection.
關鍵字 entrusted loan;guaranteed rate;participation rate;barrier option
語言 en
ISSN 2720-5088; 1233-5835
期刊性質 國外
收錄於 SSCI
國別 POL
出版型式 ,電子版,紙本

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