Prof. Dr. Peter Hieber


Nach Vereinbarung (bitte kurze Anmeldung per E-Mail).


  • Dr. rer. nat., Schwerpunkt: Mathematik, TU München.

  • M.Sc., Schwerpunkt: Finance and Information Management, Universität Augsburg und TU München.

  • B.Sc., Schwerpunkt: Mathematik, TU München

[Scopus]   [Google Scholar]   [Research Gate]   [Personal Page]

Akademische Berufserfahrung

  • Since 2021: Assistant Professor at the Université de Lausanne, Switzerland.

  • DAAD-Prime Research Fellowship Université Catholique de Louvain, Belgium.

  • Professorship (W2) "Risk and Insurance", TU Munich.

  • PostDoc researcher at the Institute of Insurance Science, Ulm University, Prof. Dr. An Chen.

  • Scientific assistant at the Chair of Mathematical Finance, TU Munich, Prof. Dr. Matthias Scherer.

  • Research assistant at Ryerson University, Toronto, Prof. Dr. Marcos Escobar.

  • Research and teaching assistant at the University of Toronto, Prof. Dr. Luis Seco, Prof. Dr. Marcos Escobar.


  • Life and Pension Insurance, Mathematical Finance, Actuarial Data Science.

  • Insurance contract design, contract valuation and (portfolio) risk management.

  • Behavioral insurance, adverse selection, moral hazard.

  • Optimal control, optimal asset allocation.


Actuarial Science:

  • Hanna, V.; Devolder, P.; Hieber, P.: Mixed participating and unit-linked life insurance contracts: design, pricing and optimal strategy. Scandinavian Actuarial Journal, forthcoming, 2021.
  • Deelstra, G.; Devolder, P.; Gnameho, K.; Hieber, P.: Valuation of hybrid financial and actuarial products in life insurance by a novel 3-step method, ASTIN Bulletin, forthcoming, 2020. [Link] (open access)
  • Chen, A.; Hieber, P.; Rach, M.: Optimal retirement products under subjective mortality beliefs. Insurance: Mathematics and Economics, forthcoming, 2020. [Link] [SSRN]
  • Chen, A.; Hieber, P.; Lämmlein, L.: Regulatory measures for distressed insurance undertakings: A comparative study. Scandinavian Actuarial Journal, Vol. 2020, No. 1, pp. 30-43 , 2020. [Link]
  • Hieber, P.; Natolski, J.; Werner, R.: Fair valuation of cliquet-style return guarantees in (homogeneous and) heterogeneous life insurance portfolios. Scandinavian Actuarial Journal, No. 6, pp. 478-507, 2019. [Link]  [SSRN]
  • Chen, A.; Hieber, P.; Nguyen, T.: Constrained non-concave utility maximization: An application to life insurance contracts with guarantees. European Journal of Operational Research, Vol. 273, No. 3, pp. 1119-1135, 2019. [Link]  [SSRN]
  • Chen, A.; Hieber, P.; Klein, J.: Tonuity: A novel individual-oriented retirement planASTIN Bulletin, Vol. 49, No. 1, pp. 5-30, 2019. [Link] (open access)
  • Hieber, P.: Cliquet-style return guarantees in a regime switching Lévy model, Insurance: Mathematics and Economics, Cliquet-style return guarantees in a regime switching Lévy model, Vol. 72, pp. 138-147, 2017. [Link]  [SSRN]
  • Chen, A.; Hieber, P.: Optimal Asset Allocation in Life Insurance: The Impact of Regulation. ASTIN Bulletin, Vol. 46, No. 3, pp. 605–626, 2016. [Link] (open access)
  • Hieber, P.; Korn, R.; Scherer, M.: Analyzing the effect of low interest rates on the surplus participation of life insurance policies with different annual interest rate guarantees. European Actuarial Journal, Vol. 5, No. 2, pp. 11–28, 2015. [Link]  [PDF]

Mathematical Finance:

  • Hieber, P.: Pricing exotic options in a regime switching economy: A Fourier transform method, Review of Derivatives Research, Vol. 21, pp. 231-252, 2018. [Link]
  • Escobar, M., Hieber, P., Scherer, M.: Efficiently pricing double barrier derivatives in stochastic volatility models. Review of Derivatives Research, Vol. 17, No. 2, pp. 191–216, 2014. [Link]  [PDF]
  • Hieber, P., Scherer, M.: Modeling credit portfolio derivatives, including both a default and a prepayment feature. Applied Stochastic Models in Business and Industry, Vol. 19, No. 5, pp. 479–495, 2013. [Link]
  • Fernández, L., Hieber, P., Scherer, M.: Double-barrier first-passage times of jump-diffusion processes. Monte Carlo Methods and Applications, Vol. 19, No. 2, pp. 107–141, 2013. [Link]  [PDF]
  • Braun, R.; Engel, N.; Hieber, P.; Zagst, R.: The Risk Appetite of Private Equity Sponsors. Journal of Empirical Finance, Vol. 18, No. 5, pp. 815–832, 2011. [Link]  [PDF]
  • Escobar, M., Hieber, P., Scherer, M.; Seco, L.: Portfolio optimization in a multidimensional structural-default model with a focus on private equity. The Journal of Private Equity, Vol. 15, No. 1, pp. 26–35, 2011. [Link]
  • Hieber, P.; Scherer, M.: Efficiently pricing barrier options in a Markov-switching framework, Journal of Computational and Applied Mathematics, Vol. 235, pp. 679–685, 2010. [Link(open access)


  • Hieber, P.: First-passage times of regime switching models. Statistics & Probability Letters, Vol. 92, pp. 148–157, 2014. [Link]  [PDF]
  • Hieber, P.: A correction note on: When the “Bull” meets the “Bear”: A First Passage Time Problem for a Hidden Markov Process. Methodology and Computing in Applied Probability, Vol. 16, No. 3, pp. 771–776, 2014. [Link]
  • Hieber, P., Scherer, M.: A note on first-passage times of continuously time-changed Brownian motion. Statistics & Probability Letters, Vol. 82, No. 1, pp. 165–172, 2012. [Link]  [PDF]



Hieber, P.: First-exit times and their applications in default risk management, TU München, 2013. [PDF]
Ausgezeichnet mit dem Gauß Nachwuchspreis 2013 und dem Hamburger Promotionspreis für Versicherungswissenschaften 2014.