The purpose of this paper is to study mortality-based securities, such as mortality bonds and swaps, and to price the proposed mortality securities. We focus on individual annuity data, although some of the modeling techniques could be applied to other lines of annuity or life insurance. Date: March 30, 2004. A very early version was presented at a seminar at the University of Waterloo, Departm...

Climate change has been framed as a threat to human security and therefore become securitized, scholars argue. But what about the securitization of climate adaptation policy response fight change? Adaptation risen on political agendas worldwide, few have found some early signs at UN/EU levels. This paper analyzes how extent securitized national level, studying The Netherlands one frontrunners i...

Securitization with payments linked to explicit mortality events provides a new investment opportunity to investors and financial institutions. Moreover, mortalitylinked securities provide an alternative risk management tool for insurers. As a step toward understanding these securities, we develop an asset pricing model for mortality-based securities in an incomplete market framework with jump ...