Yield Curve Construction of a Financial Obligation : Case « Microinsurance Foresight » product

Résumé

The main objective of any life insurance company is to assess the value and profitability of its business. In developing countries, the insurance sector is only interested in people from the middle and wealthy classes, but excludes those from vulnerable social backgrounds. In these countries, including Morocco, the generalization of social coverage can only be part of the long term. By extension, and regardless of a country's level of wealth, the rate of expansion of the coverage of social protection systems is an important indicator of well-being and development.

The objective of this article is to construct the yield curve of a financial obligation of the “Microinsurance pension” product at the end of the year. This construction will allow the determination of the value of new microinsurance business subscribed in a certain period without taking into account the value of existing business (the Value of Existing Business).