PUBLICATIONS BOOKS

SELECTED PUBLICATIONS

"Hybrid life insurance valuation based on a new standard deviation premium principle in a stochastic interest rate framework",
Belhouari, O., Deelstra, G., Devolder, P., 2024, accepted in European Actuarial Journal.

"Impact of correlation between interest rates and mortality rates on the valuation of various life insurance products",
Deelstra, G., Devolder, P., Roelants du Vivier, B., 2024, accepted in Astin Bulletin.

"Consistent modelling of assets with random coefficients and switches between regimes",
Wolf, F.L., Deelstra, G., Grzelak, L.A., 2024, Mathematics and Computers in Simulation, 223, 65-85.

"A Multi-Curve HJM Factor model for pricing and risk management",
Bienek, T., Deelstra, G., Lichtenstern, A., & Zagst, R., 2023, Quantitative Finance, Volume 23, 2023 - Issue 11, 1659-1675.

"Accelerated Computations of Sensitivities for xVA",
Deelstra, G., Grzelak, L.A., Wolf, F.L., 2023, International Journal of Computer Mathematics, 101(8), 842–864, https://doi.org/10.1080/00207160.2023.2203277.

"Randomization and the valuation of guaranteed minimum death benefits",
Deelstra, G., Hieber, P., 2023, European journal of operational research, 309(3), 1218-1236, https://doi.org/10.1016/j.ejor.2023.01.059.

"Pricing Energy Quanto Options in the Framework of Markov-Modulated Additive Processes",
Benth, F.E., Deelstra, G., Kozpınar, S., 2023, IMA Journal of Management Mathematics, 34(1), January 2023, 187–220, DOI:10.1093/IMAMAN/DPAB032.

"Sensitivities and Hedging of the Collateral Choice Option",
Deelstra, G., Grzelak, L.A., Wolf, F.L., 2022, Int. Journal Theoretical and Applied Finance, Vol 25(6), 2250027, DOI: 10.1142/S0219024922500273.

"Cheapest-to-deliver collateral: a common factor approach",
Wolf, F.L., Grzelak, L.A, Deelstra, G., 2022, Quantitative Finance; 22(4); 707-723, DOI: 10.1080/14697688.2021.1990375.

"Optimal annuitisation in a deterministic financial environment",
Deelstra, G., Devolder, P., Melis, R., 2021, Optimal annuitisation in a deterministic financial environment, Decisions in Economics and Finance, Vol. 44, p. 161-175. DOI: 10.1007/s10203-020-00316

"Valuation of hybrid financial and actuarial products in life Insurance by a novel 3-step method",
Deelstra, G., Devolder, P., Gnameho, K., Hieber, H., 2020, Astin Bulletin, Vol. 50, no.3, p. 709-742. DOI:10.1017/asb.2020.25.

"On barrier option pricing by Erlangization in a regime-switching model with jumps",
Deelstra, G., Latouche, G., Simon, M., 2020, Journal of computational and applied mathematics, Vol. 371; Article 112606, Doi:10.1016/j.cam.2019.112606.

"Explosion time for some Laplace transforms of the Wishart process",
Deelstra, G., Grasselli, M., Van Weverberg, C., 2019, Stochastic models, 35(1), 89-104.

"A Bivariate Mutually-Excited Switching Jump Diffusion (BMESJD) for asset prices",
D. Hainaut, G. Deelstra, 2018, Methodology and Computing in Applied Probability, 21(4), 1337-1375.

"Markov-Modulated Lévy Framework with Synchronous Jumps",
G. Deelstra, S. Kozpinar, M. Simon, 2018, Applied stochastic models in business and industry, 34(6), 782-802, Doi:10.1002/asmb.2385.

"A Self-Excited Switching Jump Diffusion: properties, calibration and hitting time",
D. Hainaut, G. Deelstra, 2018, Quantitative Finance, 19(3), 407-426.

"Multivariate European option pricing in a Markov-modulated Lévy framework"
G. Deelstra, M. Simon, 2017, Journal of Computational and Applied Mathematics, 317, 171-187. doi.org/10.1016/j.cam.2016.11.040

"Multivariate FX models with jumps: Triangles, Quantos and implied correlation" (BDR.pdf)
L. Ballotta, G. Deelstra, G. Rayée, 2017, European Journal of Operational Research, 260, 1181-1199.

"The Role of the Dependence between Mortality and Interest Rates when pricing Guaranteed Annuity Options" (DGV.pdf),
G. Deelstra, M. Grasselli, Ch. Van Weverberg, 2016, Insurance Mathematics and Economics, 71, 205-219.

"On an optimization problem related to static super-replicating strategies" (CDDLV.pdf)
X. Chen, G. Deelstra, J. Dhaene, D. Linders, M. Vanmaele, 2015, Journal of Computational and Applied Mathematics, 278, 213-230.

"Default probabilities of a holding company, with complete and partial information" (HD2.pdf)
D. Hainaut, G. Deelstra, 2014, Journal of Computational and Applied Mathematics, vol. 271(1), 380-400.

"Optimal timing for annuitization, with a jump diffusion fund and stochastic mortality" (HD1.pdf)
D. Hainaut, G. Deelstra, 2014, Journal of Economic Dynamics and Control, vol. 44, 124-146.

"Using model-independent lower bounds to improve pricing of Asian style options in Lévy markets" (DRVY.pdf)
G. Deelstra, G. Rayée, S. Vanduffel, J. Yao, 2014, Astin Bulletin, 44(2), 237-276.

"Pricing Variable Annuity Guarantees in a Local Volatility framework", (DR1.pdf)
G. Deelstra, G. Rayée, 2013, Insurance : Mathematics and Economics (IME), vol 53 (3), 650-663.

"Local Volatility Pricing for Long-dated FX Derivatives", (DR0.pdf)
G. Deelstra, G. Rayée, 2012, Applied Mathematical Finance (AMF), vol. 20(4), pages 380-402, September.

"Optimal Funding of defined benefit pension plans" (HD.pdf)
D. Hainaut, G. Deelstra, 2010, Journal of Pension Economics and Finance, vol 10, 31-52.

"Vanna-Volga Methods applied to FX Derivatives: From Theory to Market Practice" (BRSD.pdf)
F. Bossens, G. Rayée, N. Skantzos, G. Deelstra, 2010, International Journal of Theoretical and Applied Finance, vol 13(8), 1293-1324.

"How They Can Jump Together: Multivariate Lévy Processes and Option Pricing" (DP.pdf)
G. Deelstra, A. Petkovic, 2009-2010, Belgian Actuarial Bulletin, 9(1), p. 29-42.

"An overview of comonotonicity and its applications in finance and insurance" (DJV.pdf)
G. Deelstra, J. Dhaene, M. Vanmaele, 2010, in: AMaMeF: Advanced Mathematical Methods for Finance, Di Nunno G., Oksendal B. (Eds), Springer, Germany, 155-179.

"Minimizing the risk of a financial product using a put option" (DVV.pdf)
G. Deelstra, M. Vanmaele, D. Vyncke, 2010, Journal of Risk and Insurance, vol 77(4), 767-800.

"Moment matching approximation of Asian basket option prices",(DDV2.pdf)
G. Deelstra, I. Diallo, M. Vanmaele, 2010, Journal of Computational and Applied Mathematics, 234(4), 1006-1016.

"Pricing and Hedging Asian basket spread options", (DPV.pdf)
G. Deelstra, A. Petkovic, M. Vanmaele, 2010, Journal of Computational and Applied Mathematics, 233(4), 2814-2830.

"Pricing and Hedging Asian basket spread options in a nutshell" (AENORM.pdf)
G. Deelstra, A. Petkovic, M. Vanmaele, 2009, AENORM, 65, vol 17, 44-47.

"Bounds for Right Tails of Deterministic and Stochastic Sums of Random Variables" (DDDHV.pdf)
G. Darkiewicz, G. Deelstra, J. Dhaene, T. Hoedemakers,M. Vanmaele, 2009, Journal of Risk and Insurance, 76(4), 847-866.

"Static Super-Replicating Strategies Strategies for a Class of Exotic Options", (CDDV.pdf)
X. Chen, G. Deelstra, J. Dhaene, M. Vanmaele, 2008, Insurance: Mathematics and Economics, Vol 42 (3), 1067-1085.

"Bounds for Asian basket options", (DDV.pdf)
G. Deelstra, I. Diallo, M. Vanmaele , 2008, Journal of Computational and Applied Mathematics, 218, 215-228.

"Risk management of a bond portfolio using options", (ADHV.pdf)
J. Annaert, G. Deelstra, D. Heyman, M. Vanmaele , 2007, Insurance: Mathematics and Economics, Vol 41 (3), 299-316.

"Managing Value-at-Risk for a Bond Using Bond Put Options", (DEHV.pdf)
G. Deelstra, A. Ezzine, D. Heyman, M. Vanmaele, 2007, "Computational Economics", Vol 29 (2), 139-149.

"Minimization of the (conditional) Value-at-Risk for a coupon bearing bond using a bond put option", (HADV.pdf)
Heyman, D., Annaert, J., Deelstra G., Vanmaele M., 2006, In: Vanmaele, M., De Schepper, A., Dhaene, J., Reynaerts, H., Schoutens, W., Van Goethem, P. (Eds.): Handelingen Contactforum 4th Actuarial and Financial Mathematics Day, 10 februari 2006, Koninklijke Vlaamse Academie van België voor Wetenschappen en Kunsten, Brussel, 2006, 85-96.

"Bounds for the price of discretely sampled arithmetic Asian options" (VDLDG.PDF)
M. Vanmaele, G. Deelstra, J. Liinev, J. Dhaene, M.J. Goovaerts, 2006, Journal of Computational and Applied mathematics, Vol. 185/1 pp. 51-90.

"Bounds for the price of a European-style Asian option in a binary tree model" (RVDD.pdf)
H. Reynaerts,, M. Vanmaele, J. Dhaene, G. Deelstra 2006, European Journal of Operational Research, 168/2, 322-332.

"Approximation of stop-loss premiums involving sums of lognormals by conditioning on two variables" (VDL.pdf)
M. Vanmaele, G. Deelstra, J. Liinev, 2004, Insurance: Mathematics and Economics, 35(2), 343-367.

"Optimal Design of the Guarantee for Defined Contribution Funds" (dgk4.pdf)
G. Deelstra, M. Grasselli, P.-F. Koehl, 2004, Journal of Economic Dynamics and Control, 28 (11), 2239-2260.

"Pricing of arithmetic basket options by conditioning" (DLV.pdf)
G. Deelstra, J. Liinev, M. Vanmaele, 2004, Insurance: Mathematics and Economics, 34 (1), 55-77.

"Optimal investment strategies in the presence of a minimum guarantee" (DGK3.pdf)
G. Deelstra, M. Grasselli, P.-F. Koehl, 2003, Insurance: Mathematics and Economics, 33 (1), 189-207.

"Dual formulation of the utility maximisation problem under transaction costs" (dpt.pdf)
G.Deelstra, H. Pham and N. Touzi, 2001, Annals of Applied Probability, 11(4), 1353-1383.

"Optimal Investment Strategies in a CIR Framework" (DGK2.pdf)
G. Deelstra, M. Grasselli, P.-F. Koehl, 2000, Journal of Applied Probability, 37, 1-12.

"Long-term returns in stochastic interest rate models: Applications" (astin.pdf)
G. Deelstra, 2000 Astin Bulletin, 30 (1), 123-140.

"Yield option pricing in the generalized Cox-Ingersoll-Ross Model" (yield.pdf)
Deelstra, 1999, Finance, special issue devoted to Options, 20 (2), 169-183.

"Conditional Dominance criteria : definition and application to risk-management" (DGK1.pdf)
G. Deelstra, M. Grasselli, P.-F. Koehl, 1999, Insurance, Mathematics and Economics, 25, 295-306.

"Interaction Between Asset Liability Management and Risk Theory" (DJ.pdf)
G. Deelstra and J. Janssen, 1998, Applied Stochastic Models and Data Analysis,14, 295-

"Convergence of Discretised Stochastic (Interest Rate) Processes with Stochastic Drift Term" (DD3.pdf)
G. Deelstra and F. Delbaen, 1998, Applied Stochastic Models and Data Analysis, 14, 77-84.

"Long-term returns in stochastic interest rate models: Different convergence results" (DD4.pdf)
G. Deelstra and F. Delbaen, 1998, Applied Stochastic Models and Data Analysis, 13, 401-407.

"Long-term returns in stochastic interest rate models: Convergence in law" (DD2.pdf)
G. Deelstra and F. Delbaen, 1995, Stochastics and Stochastics Reports, 55, 253-277.

"Long-term returns in stochastic interest rate models" (DD1.pdf)
G. Deelstra and F. Delbaen,1995, Insurance: Mathematics and Economics, 17, 163-169.

"Remarks on 'Boundary Crossing..." (Blatter.pdf)
G. Deelstra, 1994, Blätter, October 1994, 449-456.

"Remarks on the methodology introduced by Goovaerts et al." (DD.pdf)
G. Deelstra and F. Delbaen, 1992, Insurance: Mathematics and Economics, 11, 295-300.

BOOKS

G. Deelstra and G. Plantin, 2006, "Théorie du risque et réassurance", Economica.

G. Deelstra and G. Plantin, 2014, "Risk Theory and Reinsurance", EAA Series, Springer-Verlag London.