volume 6, issue 4, P737-800 2000
DOI: 10.1017/s1357321700001987
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A.J. Sanders

Abstract: ABSTRACTUntil relatively recently life companies generally met their capital needs either from internal resources or by means of equity capital provided by shareholders. However, the financial pressures on life operations have led to more innovative alternatives being used. In response to these pressures different forms of capital support from reinsurers, banks or other group funds or companies have been developed. In April 1998 National Provident Institution (NPI) became the first life company to issue bonds …

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