The Use of Derivatives to Hedge Embedded Options : The Case of Pension Institutions in Denmark

The Use of Derivatives to Hedge Embedded Options : The Case of Pension Institutions in Denmark

The main purpose of this paper is to examine the growing use of derivatives by Danish pension institutions as a risk management tool to hedge embedded options on their balance sheets. Throughout the 1980s and 1990s it was a widespread practice for...

Full description

Bibliographic Details
Main Authors: Ladekarl, Jeppe, Ladekarl, Regitze, Andersen, Erik Brink, Vittas, Dimitri
Format: Policy Research Working Paper
Language:English
Published: World Bank, Washington, DC 2012
Subjects:
ACCOUNTING
ACCOUNTING RULES
ACCOUNTING STANDARDS
ANNUITIES
ASSET PRICES
ASSETS
BALANCE SHEETS
BOND YIELDS
BONDS
BUNDLING
CAPITAL REQUIREMENTS
CENTRAL BANK
COUNTERPARTY RISKS
COVERAGE
CREDIT RISK
CREDIT RISK EXPOSURE
DEREGULATION
DERIVATIVES
DISCOUNT RATE
DIVIDENDS
EXPECTED RETURN
FINANCIAL MARKETS
FINANCIAL PRODUCTS
FINANCIAL RISK
FISCAL POLICY
FIXED INCOME
FIXED INCOME MARKETS
FOREIGN CURRENCY
FOREIGN EQUITIES
FUTURES
GDP
GOVERNMENT BONDS
GROWTH RATE
HOUSING
INCOME
INCOME TAXES
INSPECTIONS
INSURANCE PRODUCTS
INTEREST RATE
INTEREST RATE SWAPS
INTEREST RATES
INVESTMENT BANKERS
INVESTMENT RETURN
INVESTMENT RETURNS
LIFE INSURANCE
LIFE INSURANCE COMPANIES
MARKET RISK
MORTGAGES
NOMINAL INTEREST RATES
OCCUPATIONAL PENSION PLANS
PAID UP CAPITAL
PAYOUT
PENSION COVERAGE
PENSION FUNDS
PENSION PLANS
PENSION POLICIES
PENSION SCHEMES
PENSIONS
POLICYHOLDERS
PORTFOLIO
PORTFOLIOS
PRICE LEVELS
PRIVATE EQUITY
PRUDENTIAL REGULATION
REGULATORY FRAMEWORK
REGULATORY RULES
RESERVES
RETAINED EARNINGS
RETURN ON INVESTMENTS
RISK EXPOSURE
RISK MANAGEMENT
SAVINGS
SIDE EFFECTS
SOLVENCY
STATEMENTS
SWAPS
TAX REVENUES
VALUATION
WAGES
Online Access:http://documents.worldbank.org/curated/en/2007/03/7435986/use-derivatives-hedge-embedded-options-case-pension-institutions-denmark
http://hdl.handle.net/10986/7182

Internet

http://documents.worldbank.org/curated/en/2007/03/7435986/use-derivatives-hedge-embedded-options-case-pension-institutions-denmark
http://hdl.handle.net/10986/7182

Similar Items