Katja Hanewald

Senior Lecturer

Katja Hanewald is a Senior Lecturer in the School of Risk and Actuarial Studies and the Coordinator of the Actuarial Co-op Program at UNSW Sydney. She is also the Director of Research of the Ageing Asia Research Hub, which is hosted by the ARC Centre of Excellence in Population Ageing Research (CEPAR). Her research addresses risk management and insurance responses to population ageing. Katja has published in all leading international insurance and actuarial journals (including the Journal of Risk and Insurance, Insurance: Mathematics and Economics and the ASTIN Bulletin) and several major economics journals (including the Journal of Economic Behavior & Organization). Her current research investigates optimal retirement financial decisions of older households and the design of retirement financial products such as reverse mortgages, long-term care insurance, and annuities. She teaches risk management courses.

Before rejoining UNSW in 2016, Katja held academic positions at the University of New South Wales (2011-2013) and at Humboldt-Universität zu Berlin, Germany (2008-2010). She worked for the German Federal Ministry of Finance from 2013 to 2015. Katja obtained her doctoral degree from the School of Business and Economics at Humboldt-Universität zu Berlin in November 2010. 

Research interests:

  • Main Research Areas: Insurance, Risk Management, Actuarial Studies
  • Focus Areas: Longevity Risk Management, Retirement Financial Products, Ageing in China
Journal articles
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Beard JR; Si Y; Liu Z; Chenoweth L; Hanewald K, 2021, 'Intrinsic Capacity: Validation of a New WHO Concept for Healthy Ageing in a Longitudinal Chinese Study.', J Gerontol A Biol Sci Med Sci, http://dx.doi.org/10.1093/gerona/glab226
2021
Hanewald K; Jia R; Liu Z, 2021, 'Why is inequality higher among the old? Evidence from China', China Economic Review, vol. 66, pp. 1 - 20, http://dx.doi.org/10.1016/j.chieco.2021.101592
2021
Li H; Hanewald K; Wu S, 2021, 'Healthy life expectancy in China: Modelling and implications for public and private insurance', Annals of Actuarial Science, vol. 15, pp. 40 - 56, http://dx.doi.org/10.1017/S1748499520000135
2021
Hanewald K; Bateman H; Fang H; Wu S, 2020, 'Is there a demand for reverse mortgages in China? Evidence from two online surveys', Journal of Economic Behavior and Organization, vol. 169, pp. 19 - 37, http://dx.doi.org/10.1016/j.jebo.2019.10.023
2020
Yang S; Hanewald K, 2020, 'Life Satisfaction of Middle-Aged and Older Chinese: The Role of Health and Health Insurance', Social Indicators Research, http://dx.doi.org/10.1007/s11205-020-02390-z
2020
Hanewald K; Li H; Shao AW, 2019, 'Modelling multi-state health transitions in China: a generalised linear model with time trends', Annals of Actuarial Science, vol. 13, pp. 145 - 165, http://dx.doi.org/10.1017/S1748499518000167
2019
Shao AW; Hanewald K; Sherris M, 2018, 'House Price Models for Banking and Insurance Applications: The Impact of Property Characteristics', Asia-Pacific Journal of Risk and Insurance, vol. 12, http://dx.doi.org/10.1515/apjri-2017-0003
2018
Hanewald K, 2017, 'King William's Tontine: Why the Retirement Annuity of the Future Should Resemble its Past', JOURNAL OF PENSION ECONOMICS & FINANCE, vol. 16, pp. 267 - 269, http://dx.doi.org/10.1017/S1474747217000075
2017
Blackburn C; Hanewald K; Olivieri A; Sherris M, 2017, 'Longevity Risk Management and Shareholder Value for a Life Annuity Business', ASTIN Bulletin - The Journal of the International Actuarial Association, vol. 47, pp. 43 - 77, http://dx.doi.org/10.1017/asb.2016.32
2017
Hanewald K; Post T; Sherris M, 2016, 'Portfolio Choice in Retirement - What is the Optimal Home Equity Release Product?', Journal of Risk and Insurance, vol. 83, pp. 421 - 446, http://dx.doi.org/10.1111/jori.12068
2016
Cho D; Hanewald K; Sherris M, 2015, 'Risk Analysis for Reverse Mortgages with Different Payout Designs', Asia-Pacific Journal of Risk and Insurance, vol. 9, pp. 77 - 105, http://dx.doi.org/10.1515/apjri-2014-0012
2015
Shao AW; Hanewald K; Sherris M, 2015, 'Reverse mortgage pricing and risk analysis allowing for idiosyncratic house price risk and longevity risk', Insurance: Mathematics and Economics, vol. 63, pp. 76 - 90, http://dx.doi.org/10.1016/j.insmatheco.2015.03.026
2015
Nirmalendran M; Sherris M; Hanewald K, 2014, 'Pricing and solvency of value-maximizing life annuity providers', ASTIN Bulletin, vol. 44, pp. 39 - 61, http://dx.doi.org/10.1017/asb.2013.25
2014
Alai DH; Chen H; Cho D; Hanewald K; Sherris M, 2014, 'Developing Equity Release Markets: Risk Analysis for Reverse Mortgages and Home Reversions', North American Actuarial Journal, vol. 18, pp. 217 - 241, http://dx.doi.org/10.1080/10920277.2014.882252
2014
Hanewald K; Sherris M, 2013, 'Postcode-Level House Price Models for Banking and Insurance Applications', Economic Record, vol. 89, pp. 411 - 425, http://dx.doi.org/10.1111/1475-4932.12045
2013
Post T; Hanewald K, 2013, 'Longevity risk, subjective survival expectations, and individual saving behavior', Journal of Economic Behavior and Organization, vol. 86, pp. 200 - 220, http://dx.doi.org/10.1016/j.jebo.2012.11.012
2013
Hanewald K; Piggott J; Sherris M, 2013, 'Individual post-retirement longevity risk management under systematic mortality risk', Insurance Mathematics and Economics, vol. 52, pp. 87 - 97, http://dx.doi.org/10.1016/j.insmatheco.2012.11.002
2013
Hanewald K; Hecht C, 2012, 'Who Responds to Tax Reforms? Evidence from the Life Insurance Market', Geneva Papers on Risk and Insurance - Issues and Practice, vol. 37, pp. 5 - 26, http://dx.doi.org/10.1057/gpp.2011.31
2012
Hanewald K; Post T; Gründl H, 2011, 'Stochastic Mortality, Macroeconomic Risks and Life Insurer Solvency', Geneva Papers on Risk and Insurance - Issues and Practice, vol. 36, pp. 458 - 475, http://dx.doi.org/10.1057/gpp.2011.14
2011
Hanewald K, 2011, 'Explaining Mortality Dynamics: The Role of Macroeconomic Fluctuations and Cause of Death Trends', North American Actuarial Journal, vol. 15, pp. 290 - 314, http://dx.doi.org/10.1080/10920277.2011.10597622
2011
Hanewald K, 2010, 'Factors Driving Aggregate Mortality Rates in Postwar Germany', Zeitschrift für die gesamte Versicherungswissenschaft, vol. 99, pp. 211 - 229, http://dx.doi.org/10.1007/s12297-010-0086-2
2010
Working Papers
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Eling M; Omid G; Hanewald K, 2021, Willingness to take financial risks and insurance holdings: A European survey, No. 2021/04, http://dx.doi.org, https://www.cepar.edu.au/publications/working-papers/willingness-take-financial-risks-and-insurance-holdings-european-survey
2021
Deng Y; Fang H; Hanewald K; Wu S, 2020, Delay Pension Age or Reduce Pension Benefit? Implications for Labor Supply and Individual Welfare, http://dx.doi.org
2020
Wang Q; Hanewald K; Wang X, 2020, Multi-State Health Transition Modeling Using Neural Networks, No. 2020/25, http://dx.doi.org, https://www.cepar.edu.au/publications/working-papers/multi-state-health-transition-modeling-using-neural-networks
2020
Lu Q; Hanewald K; Villegas AM; Wang X, 2020, Subnational old-age mortality modeling: Accounting for underreporting in a Bayesian framework, 2020/23, http://dx.doi.org, https://www.cepar.edu.au/publications/working-papers/subnational-old-age-mortality-modeling-accounting-underreporting-bayesian-framework
2020
Li H; Hanewald K; Wu S, 2020, Healthy Life Expectancy in China: Modeling and Implications for Public and Private Insurance, SSRN, http://dx.doi.org10.2139/ssrn.3550682, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3550682
2020
Zheng W; Jia R; Lyu Y; Hanewald K, 2020, The impact of expected pensions on consumption: Evidence from China, ARC Centre of Excellence in Population Ageing Research (CEPAR), No. 2020/03, http://dx.doi.org, https://cepar.edu.au/publications/working-papers/impact-expected-pensions-consumption-evidence-china
2020
Yang S; Hanewald K, 2019, Life Satisfaction of Older Chinese: The Role of Health and Health Insurance, 2019/16, http://dx.doi.org, https://www.cepar.edu.au/publications/working-papers/life-satisfaction-older-chinese-role-health-and-health-insurance
2019
Lu Q; Hanewald K; Wang X, 2019, Bayesian hierarchical multi-population mortality modelling for China's provinces, 2019/17, http://dx.doi.org, https://www.cepar.edu.au/publications/working-papers/bayesian-hierarchical-multi-population-mortality-modelling-chinas-provinces
2019
Hanewald K; Jia R; Liu Z, 2019, Why is inequality higher among the old? Evidence from China, 2019/10, http://dx.doi.org, https://www.cepar.edu.au/publications/working-papers/why-inequality-higher-among-old-evidence-china
2019
Hanewald K; Bateman H; Fang H; Wu S, 2018, Is There a Demand for Reverse Mortgages in China? Evidence from Two Online Surveys, 2018/22, http://dx.doi.org, https://www.cepar.edu.au/publications/working-papers
2018
Hanewald K; Han L; Shao AW, 2017, Modeling Multi-State Health Transitions in China: A Generalized Linear Model with Time Trends, http://dx.doi.org10.1017/S1748499518000167, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2971798
2017
Li H; Hanewald K; Wu S, 2017, Estimating Healthy Life Expectancy: A Province-by-Province Study for China, ARC Centre of Excellence in Population Ageing Research (CEPAR) Working Paper, 2017/14, http://dx.doi.orghttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=3027825
2017
Hanewald K; Kluge F, 2014, The Impact of Family Structure on Risk Attitudes and Financial Decisions during the Financial Crisis, http://dx.doi.org
2014
Shao AW; Sherris M; Hanewald K, 2013, Disaggregated house price indices, 2013ACTL09, http://dx.doi.org
2013
Blackburn C; Hanewald K; Olivieri A; Sherris M, 2013, Life Insurer Longevity Risk Management, Solvency and Shareholder Value, 2013ACTL20, http://dx.doi.org
2013
Nirmalendran M; Sherris M; Hanewald K, Solvency Capital, Pricing and Capitalization Strategies of Life Annuity Providers, 201213, http://dx.doi.org
Hanewald K; Sherris M, House Price Risk Models for Banking and Insurance Applications, 201118, http://dx.doi.org
Reports
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Hanewald K; Piggott J, 2020, CEPAR submission to the DFAT consultation on new international development policy, ARC Centre of Excellence in Population Ageing Research (CEPAR), https://www.cepar.edu.au/publications/reports-government-submissions/cepar-submission-dfat-consultation-new-international-development-policy
2020
Li H; Hanewald K; Liao P, 2019, Constructing occupation-specific life tables for China, Society of Actuaries, https://www.soa.org/resources/research-reports/2019/occupation-specific-life-tables-china/
2019

2018

Silverstar Award, by the UNSW Business School, AU$20,000

2017

Silverstar Award, by the UNSW Business School, AU$20,000

2014

Bob Alting von Geusau Prize, by the AFIR-ERM Section of the International Actuarial Association, with M. Nirmalendran and M. Sherris, CA$5,000

2012

Melville Financial Services Prize, by the Institute of Actuaries of Australia, with M. Nirmalendran and M. Sherris, AU$4,500

2006 - 2007

Scholarship of the German Academic Scholarship Foundation (Studienstiftung des Deutschen Volkes), monthly allowance

External funding

2020

Household Capital Pty Ltd, Research Services Agreement, “Reverse mortgage demand: The role of mental accounting”, AU$11,000

2018

Society of Actuaries, Research Funding, “Constructing Occupation-Specific Life Tables for China”, with H. Li and P. Liao, US$24,441

2017

University of Pennsylvania, Quartet Pilot Award, “Long-Term Care Financing using Home Equity Release”, with H. Fang and S. Wu, US$37,500

2017

Phoenix Healthcare Finance Research Center, Tsinghua University, Research Grant, “Demand for Home Equity Release Products in China”, with H. Fang, RMB100,000

Internal funding

2017 - present

UNSW Sydney

Scientia PhD Scholarships (as supervisor)

2020-2023 – 2 Scientia PhD Scholarships, “Long-Term Care Insurance and Services in China,” with B. Li and H. Bateman, AU$410,000

2017-2021 – Scientia PhD Scholarships, “Behavioural Insights for Retirement Financial Planning in China,” with H. Bateman and H. Fang, AU$400,000

2019 - present

UNSW Business School, UNSW Sydney

Health@Business Research Network

2020 - Seed Funding, “Intrinsic capacity: Validation of a new WHO concept for Healthy Ageing,” with L. Chenoweth, AUD$14,700

Linkage Research Seed Funds

2019-2020 - “Reverse mortgage demand: The role of mental accounting,” with H. Bateman, J. Funder, and D. Cash, AU$40,000

2016 - present

ARC Centre of Excellence in Population Ageing Research (CEPAR)

Summer Research Scholarships (as supervisor)

2020 - "Does the Gender-Concordance effect exists in long-term care?”, with Y. Deng, AU$5,000

2019 - “Life satisfaction of older Chinese: Understanding the regional variations,” with S. Yang, AU$5,000

2018 - “Life-cycle modelling for optimal retirement spending in countries with less developed social security systems,” AU$5,00

2017 - “Conditional life expectancy comparisons using a semi-parametric trending panel model approach,” with H. Li, AU$4,400

2016 - “Measuring Population Ageing and Ageing-Readiness of Chinese Provinces,” AU$4,400; “Inequalities in Healthy Life Expectancy Across Chinese Provinces” with S. Wu and H. Li, AU$4,400

Other funding

2020 - Associate Investigator Funding, An experimental study of the demand for bundled longevity and health insurance products,” AU$20,000

2017 - Research Grant, “The Role of Home Equity for Retirement Financial Planning in China,” with H. Bateman and H. Fang, AU$30,000

2009-2010

Collaborative Research Center 649: Economic Risk, Humboldt-Universität zu Berlin, Germany,

2010 - Travel Grant for a 3-months research stay at UC Berkeley, US$5,000

2009 - Workshop Grant, with A. Mysickova, 4,000

Hanewald K; Eaton R; Ho TL, 2020, The Home Stretch: Accessing Home Value to Fund Long-Term Care, Society of Actuaries, http://digitaleditions.walsworthprintgroup.com/display_article.php?id=3811647&view=680589
2020
Hanewald K; Yang S, 2020, Life satisfaction of older Chinese: The role of health and health insurance, ARC Centre of Excellence in Population Ageing Research (CEPAR), https://cepar.edu.au/news-events/news/life-satisfaction-older-chinese-role-health-and-health-insurance
2020
Hanewald K, 2020, The home stretch: accessing home value to fund long-term care, UNSW Business School, https://www.businessthink.unsw.edu.au/articles/accessing-home-value-fund-long-term-care
2020
Hanewald K, 2019, Chinese experience informs our reverse mortgage market, UNSW Business School, https://www.businessthink.unsw.edu.au/articles/chinese-experience-informs-our-reverse-mortgage-market
2019