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Dealing in uncertainty : insurance in the age of finance /

This book conducts an in-depth investigation of one of the largest and longest-established insurance industries in Europe: British life insurance. The author draws on over 40 oral history interviews to trace how the sector is changed since the 1970s, a period characterised by rampant financialisatio...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Van der Heide, Arjen (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Bristol : Bristol University Press, 2023.
Colección:Book collections on Project MUSE.
Temas:
Acceso en línea:Texto completo

MARC

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245 1 0 |a Dealing in uncertainty :  |b insurance in the age of finance /  |c Arjen van der Heide. 
264 1 |a Bristol :  |b Bristol University Press,  |c 2023. 
264 4 |c Ã2023 
300 |a 1 online resource (208 pages) 
336 |a text  |b txt  |2 rdacontent 
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504 |a Includes bibliographical references and index. 
505 0 |a Front Cover -- Dealing in Uncertainty: Insurance in the Age of Finance -- Copyright information -- Table of Contents -- List of Figures -- Acknowledgements -- 1 Life Insurance in the Age of Finance -- Life insurance, then and now -- Financialization in the making -- The argument -- Sources -- Overview of the book -- 2 Financialization, Quantification and Evaluation -- Financialization and the three ages of financial quantification -- Insurance and the technology of risk -- A sociological perspective on the financialization of life insurance -- The social studies of finance 
505 8 |a Markets as fields -- Professions and their ecologies -- An integrated approach -- 3 Shifting Boundaries between Insurance and Finance -- Upending the market for life insurance -- Fielding modern life insurance -- Unit-linked insurance and the rise of challenger firms -- 'Nothing to lose but the chains of actuarial thinking' -- Saving and investing for retirement -- Converging models of insurance -- Conclusion -- 4 Actuaries Going on a Random Walk -- Benjamin's challenge to conventional wisdom -- 'A drunken stagger around a random walk' -- Simulation modelling and actuarial science 
505 8 |a Actuaries, risk theory and discretionary judgement -- Actuaries and computers -- Living in a stochastic world? -- Conclusion -- 5 'Authors of Their Own Misfortune' -- Protecting policyholder expectations -- Bonus methodology: from net premiums to asset shares -- The question of policyholder reasonable expectations -- Equitable's demise: from pioneer to pariah -- 'With profits, without mystery' -- Guaranteed annuity options and the legal limits to actuarial discretion -- 'Fallen heroes': constructing a failure of actuarial expertise -- Conclusion -- 6 'Taking Account of What the Market Has to Say' 
505 8 |a No-arbitrage modelling and modern finance theory -- From no-arbitrage to market-consistency -- Building models, shifting between worlds -- Making insurers' evaluation machinery market-consistent -- Conclusion -- 7 Managing Risk in Insurance -- Financial risk management -- Modelling life expectancy -- Modelling risk, calculating capital -- Managing the balance sheet -- Conclusion -- 8 The Long Road to Solvency II (and Back Again?) -- Towards a single market for insurance -- Frictions and 'rough edges' -- Patching the rough edges -- Designing and testing the framework -- The settlements 
505 8 |a Conclusion -- 9 De-Risking Pensions, Managing Assets -- The pension crisis as business opportunity -- The new life market -- Buying out pension funds -- Reordering the buyout field -- Insurance and asset management -- Conclusion -- 10 Financial Evaluation and the Future of Insurance Society -- The performative power of modern finance theory -- Rationalization and the authority of the market -- The future of insurance societies -- Notes -- References -- Index 
520 |a This book conducts an in-depth investigation of one of the largest and longest-established insurance industries in Europe: British life insurance. The author draws on over 40 oral history interviews to trace how the sector is changed since the 1970s, a period characterised by rampant financialisation and neoliberalisation. 
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