Helmut Gründl

Goethe University Frankfurt - Department of Finance

Professor for Insurance and Regulation

Theodor-W.-Adorno-Platz 3

Frankfurt am Main, Hessen 60323

Germany

http://https://www.wiwi.uni-frankfurt.de/en/departments/finance/home.html

International Center for Insurance Regulation

Managing Director

House of Finance

Campus Westend, Goethe University

Frankfurt am Main, D-60323

Germany

http://www.icir.de

  • Goethe University Frankfurt - Department of Finance

  • International Center for Insurance Regulation

SCHOLARLY PAPERS

28

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Top 14,705

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74

Scholarly Papers (28)

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1.

Implications of IFRS for the European Insurance Industry - Insights from Capital Market Theory

Downloads 1,195 (38,507)
Citation 1

Implications of IFRS for the European Insurance Industry - Insights from Capital Market Theory

Number of pages: 29 Posted: 05 Jun 2006
Thomas Post, Helmut Gründl, Lisa Schmidl and Mark S. Dorfman
Maastricht University - Department of Finance, Goethe University Frankfurt - Department of Finance, Humboldt University of Berlin - School of Business and Economics and University of North Carolina (UNC) at Charlotte
Downloads 1,195 (37,885)
Citation 1

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IFRS, insurance, information efficiency, cost of capital, IFRS 4, fair value

Implications of IFRS for the European Insurance Industry - Insights from Capital Market Theory

Risk Management and Insurance Review, Vol. 10, No. 2, pp. 247-265, September 2007
Posted: 19 Jan 2018
Thomas Post, Helmut Gründl, Lisa Schmidl and Mark S. Dorfman
Maastricht University - Department of Finance, Goethe University Frankfurt - Department of Finance, Humboldt University of Berlin - School of Business and Economics and University of North Carolina (UNC) at Charlotte

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IFRS, Insurance, Information Efficiency, Cost of Capital, IFRS 4, Fair Value

2.

The Effects of a Low Interest Rate Environment on Life Insurers

Downloads 979 (51,195)
Citation 7

The Effects of a Low Interest Rate Environment on Life Insurers

International Center for Insurance Regulation Working Paper Series No. 15/14
Number of pages: 56 Posted: 21 May 2014 Last Revised: 09 Jun 2015
Elia Berdin and Helmut Gründl
Generali & International Center for Insurance Regulation and Goethe University Frankfurt - Department of Finance
Downloads 541 (109,991)

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Life Insurers; Minimum Return Guarantees; Low Interest Rates; Risk Assessment; Solvency II

The Effects of a Low Interest Rate Environment on Life Insurers

SAFE Working Paper No. 65
Number of pages: 60 Posted: 01 Nov 2014 Last Revised: 24 Feb 2018
Elia Berdin and Helmut Gründl
Generali & International Center for Insurance Regulation and Goethe University Frankfurt - Department of Finance
Downloads 438 (142,170)
Citation 7

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Life Insurers, Minimum Return Guarantees, Low Interest Rates, Risk Assessment, Solvency II

The Effects of a Low Interest Rate Environment on Life Insurers

Geneva Papers on Risk and Insurance, Vol. 40, No. 3, pp. 385-415, July 2015
Posted: 19 Jan 2018
Elia Berdin and Helmut Gründl
Generali & International Center for Insurance Regulation and Goethe University Frankfurt - Department of Finance

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Life Insurers, Minimum Return Guarantees, Low Interest Rates, Risk Assessment, Solvency II

3.

The Effects of Contingent Convertible (CoCo) Bonds on Insurers' Capital Requirements Under Solvency II

Downloads 596 (98,585)
Citation 1

The Effects of Contingent Convertible (CoCo) Bonds on Insurers' Capital Requirements Under Solvency II

SAFE Working Paper No. 98
Number of pages: 37 Posted: 12 Apr 2015
Tobias Niedrig and Helmut Gründl
Goethe University Frankfurt, Chair for Insurance and Regulation and Goethe University Frankfurt - Department of Finance
Downloads 596 (97,262)
Citation 1

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Contingent Convertible Capital, CoCo Bond, Basel III, Solvency II, Life Insurance, Interconnectedness

The Effects of Contingent Convertible (Coco) Bonds on Insurers' Capital Requirements Under Solvency II

Geneva Papers on Risk and Insurance, Vol. 40, No. 3, pp. 416-443, July 2015
Posted: 10 Jan 2018
Tobias Niedrig and Helmut Gründl
Goethe University Frankfurt, Chair for Insurance and Regulation and Goethe University Frankfurt - Department of Finance

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Contingent Convertible (CoCo) Bond; Basel III; Solvency II; Life Insurance; Interconnectedness

4.

Don’t They Care? Or, Are They Just Unaware? Risk Perception and the Demand for Long-Term Care Insurance

Journal of Risk and Insurance, Vol. 77, No. 4, pp. 715-747, December 2010
Number of pages: 38 Posted: 01 May 2009 Last Revised: 08 Jan 2018
Tian Zhou-Richter, Mark J. Browne and Helmut Gründl
Munich Re, St. John's University - Peter J. Tobin College of Business and Goethe University Frankfurt - Department of Finance
Downloads 491 (125,448)
Citation 2

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long-term care insurance, insurance demand, risk perception, risk underestimation, adult children

5.

Stochastic Mortality, Macroeconomic Risks, and Life Insurer Solvency

Downloads 473 (131,201)
Citation 1

Stochastic Mortality, Macroeconomic Risks, and Life Insurer Solvency

The Geneva Papers on Risk and Insurance - Issues and Practice, Vol. 36, No. 3, pp. 458-475, 2011
Number of pages: 29 Posted: 14 Feb 2009 Last Revised: 11 Jan 2012
Katja Hanewald, Thomas Post and Helmut Gründl
University of New South Wales (UNSW), Maastricht University - Department of Finance and Goethe University Frankfurt - Department of Finance
Downloads 378 (168,398)

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Life insurance, asset-liability management, stochastic mortality, Lee-Carter model, business cycle

Stochastic Mortality, Macroeconomic Risks, and Life Insurer Solvency

Netspar Discussion Paper No. 05/2010-020
Number of pages: 29 Posted: 04 Aug 2010
Katja Hanewald, Thomas Post and Helmut Gründl
University of New South Wales (UNSW), Maastricht University - Department of Finance and Goethe University Frankfurt - Department of Finance
Downloads 95 (602,040)
Citation 1

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Life insurance, asset-liability management, stochastic mortality, Lee-Carter model, business cycle

6.

Insurability of Pandemic Risks

Number of pages: 42 Posted: 16 Dec 2020 Last Revised: 03 Jul 2023
Helmut Gründl, Danjela Guxha, Anastasia Kartasheva and Hato Schmeiser
Goethe University Frankfurt - Department of Finance, University of St. Gallen, University of St. Gallen - School of Finance and University of Münster - Faculty of Economics
Downloads 467 (133,288)
Citation 12

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pandemic insurance, catastrophe risk transfer, private-public partnerships

7.

Pricing Double-Trigger Reinsurance Contracts: Financial Versus Actuarial Approach

Number of pages: 34 Posted: 25 Mar 2002
Hato Schmeiser and Helmut Gründl
University of Münster - Faculty of Economics and Goethe University Frankfurt - Department of Finance
Downloads 433 (145,665)

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8.

The Modern Tontine: An Innovative Instrument for Longevity Risk Management in an Aging Society

ICIR Working Paper Series No. 22/2016
Number of pages: 39 Posted: 18 Dec 2017
Jan-Hendrik Weinert and Helmut Gründl
Goethe University Frankfurt - Faculty of Economics and Business Administration and Goethe University Frankfurt - Department of Finance
Downloads 428 (148,104)
Citation 11

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Life Insurance, Tontines, Annuities, Asset Allocation, Retirement Welfare, Aging Society

9.

Transparency through Financial Claims with 'Fingerprints': A Mechanism for Preventing Financial Crises

Financial Analysts Journal, Vol. 65, No. 5, 2009
Number of pages: 14 Posted: 13 Mar 2009 Last Revised: 12 Oct 2009
Helmut Gründl and Thomas Post
Goethe University Frankfurt - Department of Finance and Maastricht University - Department of Finance
Downloads 343 (189,204)

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Financial Crisis, Securitization, Mortgage-Backed Securities, Transparency, Opaqueness

10.

The Impact of Investment Behavior for Individual Welfare

Number of pages: 47 Posted: 07 May 2008 Last Revised: 15 Sep 2012
Thomas Post, Helmut Gründl, Joan T. Schmit and Anja Zimmer
Maastricht University - Department of Finance, Goethe University Frankfurt - Department of Finance, University of Wisconsin-Madison - Department of Actuarial Science, Risk Management and Insurance and Humboldt University of Berlin - School of Business and Economics
Downloads 343 (189,204)

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Asset Allocation, Investment Behavior, Welfare Costs, Life-Cycle Models

11.

Life Care Annuities - Trick or Treat for Insurance Companies?

Number of pages: 41 Posted: 03 Jun 2011 Last Revised: 09 Jun 2011
Tian Zhou-Richter and Helmut Gründl
Munich Re and Goethe University Frankfurt - Department of Finance
Downloads 299 (219,407)
Citation 6

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long-term care insurance, annuities, adverse selection, risk management

12.

To Hedge or Not to Hedge: Managing Demographic Risk in Life Insurance Companies

Humboldt University Berlin: Department of Business and Economics: Discussion Papers in Business
Number of pages: 31 Posted: 26 May 2009
Thomas Post, Helmut Gründl and Roman Schulze
Maastricht University - Department of Finance, Goethe University Frankfurt - Department of Finance and Humboldt University of Berlin
Downloads 236 (279,043)
Citation 1

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demographic risk, hedging, life insurance, risk management, shareholder value

13.

Privacy Concerns in Insurance Markets: Implications for Market Equilibria and Social Welfare

Number of pages: 46 Posted: 13 Nov 2019
Irina Gemmo, Mark J. Browne and Helmut Gründl
ETH Zurich, St. John's University - Peter J. Tobin College of Business and Goethe University Frankfurt - Department of Finance
Downloads 174 (370,967)
Citation 5

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Adverse Selection, Insurance Markets, Privacy, Private Information, Screening

14.

Cheap Talk and Decision Making in Financial Institutions: Implications for the Risk Management Organization

International Center for Insurance Regulation Working Paper Series No. 05/11
Number of pages: 39 Posted: 21 May 2014
Dirk Höring and Helmut Gründl
Humboldt University of Berlin and Goethe University Frankfurt - Department of Finance
Downloads 154 (412,285)

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Risk Management, Organization, Private Information, Coordination

15.

'And Lead Us Not into Temptation': Presentation Formats and the Choice of Risky Alternatives

Number of pages: 30 Posted: 19 Jun 2014
Franca Glenzer, Helmut Gründl and Christian Wilde
HEC Montreal - Retirement and Savings Institute, Goethe University Frankfurt - Department of Finance and Goethe University Frankfurt - Department of Finance
Downloads 153 (414,517)
Citation 10

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Behavioral finance, decision under risk, framing effects

16.

Who Benefits from Building Insurance Groups? A Welfare Analysis Based on Optimal Group Risk Management

Number of pages: 24 Posted: 24 Oct 2011 Last Revised: 18 Dec 2017
Sebastian Schluetter and Helmut Gründl
Goethe University Frankfurt - International Center for Insurance Regulation and Goethe University Frankfurt - Department of Finance
Downloads 152 (416,776)
Citation 2

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Insurance groups, insurer default risk, insurance pricing, consumer protection

17.

Responsible Investments in Life Insurers' Optimal Portfolios under Solvency Constraints

Number of pages: 41 Posted: 21 Jul 2022
Sebastian Schlütter, Emmanuel Senyo Fianu and Helmut Gründl
University of Applied Sciences Mainz, University of Applied Sciences, Mainz and Goethe University Frankfurt - Department of Finance
Downloads 148 (425,927)

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Socially Responsible Investments, Life Insurance Companies, Portfolio Optimization, Solvency Regulation

18.

An Incentive-Compatible Experiment on Probabilistic Insurance and Implications for an Insurer's Solvency Level

Downloads 128 (478,690)
Citation 7

An Incentive-Compatible Experiment on Probabilistic Insurance and Implications for an Insurer's Solvency Level

ICIR Working Paper Series No. 06/11
Number of pages: 47 Posted: 26 Oct 2011 Last Revised: 07 Jan 2018
Anja Zimmer, Helmut Gründl, Christian Schade and Franca Glenzer
Humboldt University of Berlin - School of Business and Economics, Goethe University Frankfurt - Department of Finance, Humboldt-Universitaet zu Berlin and HEC Montreal - Retirement and Savings Institute
Downloads 128 (480,564)
Citation 7

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Behavioral Insurance, Probabilistic Insurance, Risk Management of Insurance Companies

An Incentive-Compatible Experiment on Probabilistic Insurance and Implications for an Insurer's Solvency Level

Journal of Risk and Insurance, Forthcoming
Posted: 11 Jan 2018
Anja Zimmer, Helmut Gründl, Christian Schade and Franca Glenzer
Humboldt University of Berlin - School of Business and Economics, Goethe University Frankfurt - Department of Finance, Humboldt-Universitaet zu Berlin and HEC Montreal - Retirement and Savings Institute

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Behavioral Insurance, Probabilistic Insurance, Risk Management of Insurance Companies

19.

Life Insurance Convexity

Downloads 89 (620,741)
Citation 2

Life Insurance Convexity

ECB Working Paper No. 2023/2829
Number of pages: 71 Posted: 14 Jul 2023
Nicolaus Grochola, Helmut Gründl and Christian Kubitza
Goethe University Frankfurt, Goethe University Frankfurt - Department of Finance and European Central Bank (ECB) - Directorate General Research
Downloads 58 (802,079)
Citation 2

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Interest Rates, Life Insurance, Liquidity Risk, Surrender Options, Systemic Risk

Life Insurance Convexity

Number of pages: 85 Posted: 20 Mar 2025
Christian Kubitza, Nicolaus Grochola and Helmut Gründl
European Central Bank (ECB) - Directorate General Research, Goethe University Frankfurt and Goethe University Frankfurt - Department of Finance
Downloads 31 (1,051,803)

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Life Insurance, Liquidity Risk, Interest Rates, Surrender Options, Systemic Risk

20.

Exploring the Market Risk Profiles of U.S. and European Stock Insurers

Risk Management and Insurance Review, volume 26, issue 3, 2023 [10.1111/rmir.12248]
Number of pages: 53 Posted: 25 Jul 2023 Last Revised: 05 Jul 2024
Nicolaus Grochola, Mark J. Browne, Helmut Gründl and Sebastian Schlütter
Goethe University Frankfurt, St. John's University - Peter J. Tobin College of Business, Goethe University Frankfurt - Department of Finance and University of Applied Sciences Mainz
Downloads 86 (634,012)
Citation 4

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Life insurance, interest rate risk, credit risk

21.

Banks and Non-Banks Stressed: Liquidity Shocks and the Mitigating Role of Insurance Companies

ECB Working Paper No. 2024/3000
Number of pages: 50 Posted: 11 Dec 2024
Matthias Sydow, Gábor Fukker, Tomasz Dubiel-Teleszynski, Fabio Franch, Sébastien Gallet, Helmut Gründl, Stelios Kotronis, Debora Miccio, Michela Pellegrino, Sebastian Schlütter and Matteo Sottocornola
European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank, Goethe University Frankfurt - Department of Finance, European Insurance and Occupational Pensions Authority, European Central Bank (ECB), European Central Bank (ECB), University of Applied Sciences Mainz and EIOPA
Downloads 69 (718,841)

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contagion, financial stability, fire sales, insurance companies, interconnectedness, stress test

22.

Is the Risk-Based Mechanism Always Better? The Risk-Shifting Behavior of Insurers Under Different Insurance Guarantee Schemes

Downloads 65 (741,963)
Citation 1

Is the Risk-Based Mechanism Always Better? The Risk-Shifting Behavior of Insurers Under Different Insurance Guarantee Schemes

International Center for Insurance Regulation Working Paper Series No. 12/12
Number of pages: 28 Posted: 21 May 2014 Last Revised: 18 Dec 2017
Ming Dong, Helmut Gründl and Sebastian Schluetter
Goethe University Frankfurt, Goethe University Frankfurt - Department of Finance and Goethe University Frankfurt - International Center for Insurance Regulation
Downloads 65 (754,960)
Citation 1

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Insurance guarantee schemes, risk-taking, consumer protection

Is the Risk-Based Mechanism Always Better? The Risk-Shifting Behavior of Insurers Under Different Insurance Guarantee Schemes

Journal of Insurance Issues, Vol. 38, No. 1, pp. 72-95, Spring 2015
Posted: 19 Jan 2018
Ming Dong, Helmut Gründl and Sebastian Schluetter
Goethe University Frankfurt, Goethe University Frankfurt - Department of Finance and Goethe University Frankfurt - International Center for Insurance Regulation

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Insurance Guarantee Schemes, Risk-Taking, Consumer Protection

23.

Genetic Testing: Assessing Severity Risk and Implications for Health Insurance

Number of pages: 17 Posted: 24 Dec 2024 Last Revised: 11 Apr 2025
Kar Man Tan and Helmut Gründl
Goethe University Frankfurt, Faculty of Economics and Business Administration, Department of Economics, Students and Goethe University Frankfurt - Department of Finance
Downloads 27 (1,069,705)
Citation 1

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insurance, severity, genetic testing

24.

The Evolution of Insurer Portfolio Investment Strategies for Long-Term Investing

OECD Journal: Financial Market Trends, 2016
Posted: 21 Dec 2017
Helmut Gründl and Ming Dong
Goethe University Frankfurt - Department of Finance and Goethe University Frankfurt

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Insurance, Long-term investment, Asset-liability management, Risk-based capital

25.

Solvency II: A Driver for Mergers and Acquisitions?

Geneva Risk and Insurance Review, Vol. 39, No. 3, 2014
Posted: 18 Dec 2017
Rayna Stoyanova and Helmut Gründl
Independent and Goethe University Frankfurt - Department of Finance

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Insurance Regulation, Solvency II, Mergers and Acqusitions, Capital Efficiency, Geographic Diversification

26.

Impediment of Communication in Financial Institutions: Implications for the Risk Management Organization

Geneva Risk and Insurance Review, Vol. 41, No. 2, 2016
Posted: 18 Dec 2017
Dirk Höring, Helmut Gründl and Sebastian Schluetter
Humboldt University of Berlin, Goethe University Frankfurt - Department of Finance and Goethe University Frankfurt - International Center for Insurance Regulation

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Risk Management, Organization Structure, Financial Institutions

27.

Investigating Risk Disclosure Practices in the European Insurance Industry

The Geneva Papers, Vol. 36, No. 3, 380-413, July 2011
Posted: 08 Apr 2011 Last Revised: 17 Jan 2018
Dirk Höring and Helmut Gründl
Humboldt University of Berlin and Goethe University Frankfurt - Department of Finance

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Risk disclosure, insurance, Solvency II, content analysis, positive accounting theory

28.

Portfolio Management and Retirement: What is the Best Arrangement for a Family?

Financial Markets and Portfolio Management, Vol. 20, No. 1, pp. 265-285, 2006
Posted: 17 Sep 2006
Thomas Post, Helmut Gründl and Hato Schmeiser
Maastricht University - Department of Finance, Goethe University Frankfurt - Department of Finance and University of Münster - Faculty of Economics

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Self-annuitization, Life-cycle asset allocation, Savings behavior, Retirement decisions