The Secondary Market for Life Insurance in the U.K., Germany, and the U.S.: Comparison and Overview
Journal
Risk Management and Insurance Review
ISSN
1098-1616
ISSN-Digital
1540-6296
Type
journal article
Date Issued
2010
Author(s)
Abstract
In this article, we identify key characteristics and implications of the secondary market for life insurance. We examine the oldest secondary market, which is the market in the United Kingdom, the relatively young market in Germany, and the controversial U.S. market. We summarize the available data to describe the current market situation and market potential, which strongly depend on developments in the primary markets and capital markets, as well as on regulatory and legal aspects. Next, we discuss benefits and risks associated with a secondary market, which depend on each market's unique features. The three markets considered in this article are fundamentally different, and the comparative assessment is intended to offer insight into their functioning and key factors.
Language
English
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
Wiley-Blackwell
Publisher place
Malden, Mass. [u.a.]
Volume
13
Number
2
Start page
279
End page
301
Pages
23
Subject(s)
Division(s)
Eprints ID
48830